U.S. Senate Passes Housing Opportunity Through Modernization Act

NAR REALTOR Logo

The U.S. Senate tonight passed H.R. 3700, the “Housing Opportunity Through Modernization Act,” by unanimous consent. This legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and is long supported by the National Association of REALTORS®.

Changes include efforts to make FHA’s recertification process “substantially less burdensome,” while lowering FHA’s current owner-occupancy requirement from 50 percent to 35 percent. The bill also requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.

NAR testified last year in support of the bill, which passed in the House of Representatives 427-0 in February.

featured-image-tom-salomone-nar-presidentTom Salomone, president of NAR of Coral Springs, Florida, praised the legislation as a significant step toward eliminating barriers to safe, affordable mortgage credit for condos. Salomone said, “Condominiums often represent an affordable option that’s just right for first-time and low-to-moderate income homebuyers. Unfortunately, overly-burdensome restrictions on condo financing have for too long put that option out of reach for many creditworthy borrowers.”

“This legislation meets those restrictions head on, putting the dream of homeownership back in reach for more Americans.”

“Tight inventory and rising home prices are a reality of today’s market, and mortgage credit is hard to come by. We should take every opportunity to clear the path for well-qualified borrowers to purchase a home when they’re ready, and this legislation does just that.”

“Sens. Tim Scott (R-S.C.) and Robert Menendez (D-N.J.) have done tremendous work to see H.R. 3700 move forward, and we’re thankful for their support. REALTORS® made their voices heard as well, reaching out to their Senators and Representatives to remind them of how important this issue is to homeownership.”

More than 20% of Oklahoma’s 9,300 REALTORS® responded to NAR’s call for action, urging Sens. James Lankford (R) and Jim Inhofe (R) to vote in favor of H.B. 3700 and send the legislation to the President’s desk.

Salomone concluded by saying, “We look forward to seeing this legislation signed into law so homebuyers can start seeing some much-needed relief,.”

Going Beyond the Data Leads to Landmark Listing

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By Laurie BrownRealtors Property Resource® (RPR®)

Recently, David Momper, Past President of OAR and Broker Associate with Coldwell Banker Select, Tulsa, shared one of his RPR success stories, including the catalyst that spurred those successes: a shift in thinking.

“Initially, my RPR experience was limited to accessing data” said David, whose credits include Oklahoma 2015 REALTOR® of the Year, 2005 President of the Greater Tulsa Association of REALTORS® and 2012 President of the Oklahoma Association of REALTORS®, among others. “I really didn’t know how much I could really use it for, like the extent to which I could perform property searches and generate reports.”

That mindset shift and willingness to explore the RPR site to his advantage led to landing a landmark listing for this Tulsa REALTOR®, who has been practicing since 1978.

“Our market carries affordable housing for most, meaning a $550,000 listing is highly attractive for most REALTORS®,” says David. When the opportunity presented itself, I turned to RPR.”

“Even though the seller was incredibly impressed by the data and high-quality look of my RPR property report, I made it clear that this was only the first step,” said David. “My strategy is to meet the clients, establish a rapport, show them the resources I have at my disposal (RPR data and reports), then go do my homework.”

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What is a renovation worth?

David’s seller had invested nearly $85 thousand in repairs to the second story of his home, just to get it ready for sale. Yet, it was up to David to determine what those upgrades were worth in the current market.

“I used RPR’s refine value tool to measure the market value of the seller’s improvements to the home,” he said.

He then returned to his seller to share his pricing strategy, which relied on both RPR’s refined value and David’s knowledge of the local market. “I’ve been working in this market for a long time. And my experience told me that this home is in an older neighborhood where nearby newer homes are attracting more buyers. I recommended a list price of $550 thousand even though the data suggested a somewhat higher price,” said David.

Not surprisingly, the seller abundantly agreed. By then, David has earned the homeowner’s trust by presenting data and reports that clearly demonstrated what the market offered, what had sold in his area, and what buyers were looking for.

“My seller said I presented the most credible pricing strategy and the most informative reports,” he said. “I know that was based on the data and reports I garnered from RPR, coupled with my unique experience in the local market. And when you walk into a guy’s house with a 38-page report, he thinks you know what you’re talking about.”

In fact, the seller commented that he knew he was getting a “fair shake” on the pricing because David had demonstrated how each home improvement factored into the equation.

“To have RPR at my disposal as an analytical and reporting tool, coupled with my knowledge of the neighborhood and market, is all I needed to be put above the competition,” said David.

Navigating the FAA’s New Drone Rule for REALTORS®

aerial-real-estate-photographReal estate professionals hoping to use drones in their business got some big news last week when the Federal Aviation Administration released a final rule governing the commercial use of small unmanned aircraft systems. This final rule, effective August 29, 2016, includes some hard-fought wins for the National Association of REALTORS®, and a clearer path for people to put drones to use in their businesses.

The new rule will no longer require a small unmanned aircraft operator to hold a FAA-issued pilot’s license. Instead, the final rule requires a person operating a small uas to either hold a remote pilot certificate with a small UAS rating or be under the direct supervision of someone who does. This new remote pilot certificate will be less expensive and less time-consuming to obtain – a major victory for aspiring drone users. In general, small UAS may only be flown during the daytime, and cannot be flown over non-participants, and the small UAS must be within the visual line of sight of the operator at all times.

To learn more about the rule, and the significant change the rule will have on how people will be operating drones by the end of the summer, start by visiting NAR’s helpful FAQs for the Small Unmanned Aircraft Rule.

FAQs for Small Unmanned Aircraft Rule

DronesThen, take a look at the helpful links we’ve compiled that will help potential drone users get started.

  • A pilot’s license is no longer required.
    Instead, operators will be required to obtain a remote pilot certificate with a small uas rating, which involves passing an initial aeronautical knowledge test at an FAA-approved knowledge testing center. Those interested in taking the test are encouraged to contact an FAA-approved Airmen Knowledge Testing Center. Individuals with existing non-student Part 61 pilot certificates will not be required to obtain a remote pilot certificate, but will be require to pass small uas training course (which you can find more information on here).
  • Waivers from some of the rule’s operational limitations may be requested.
    Although the new rule does not formally allow for some of the activities that are important to commercial use in real estate, a waiver process will soon be available for practices like beyond visual line-of-sight (BVLOS) flights and flights over non-participants (meaning flying commercially over people who aren’t involved in the flight). In order to obtain the waiver, the FAA Administrator must also confirm that the operation can be safely conducted. Visit the FAA’s waiver section for information. the waiver process under the new rule.
  • Remember, the new rule isn’t in effect yet.
    As written, the FAA’s drone rule goes into effect August 29, 2016.
  • Also, there’s still more to come.
    An FAA rulemaking for the “micro” category of drones is expected either later this year or in early 2017. That means anyone flying in the “micro” category may have even clearer skies ahead, and the National Association of REALTORS® is continuing to advocate for these additional possibilities.
  • Be patient.
    Although the rule has been announced, many of the final details (such has the process for attaining a waiver, as above) are still coming together. It’s advisable to check the FAA’s website frequently, beginning with their “Getting Started” website. Potential operators might also want to read the FAA’s frequently asked questions on the new rule.

For all the changes that are coming to commercial drone use, one thing remains same: it’s critically important to know the rules before taking flight. Keep checking at faa.gov and REALTOR.org/drones for more information in the days and months ahead!

Source: NAR Newsline

Yes, REALTORS® Are Doing Business on Social Media (With More Every Year)

It’s hard to remember, but 20 years ago the internet as we know it was just beginning to take hold. Many businesses (including real estate firms) didn’t even have websites.

But those days are long gone. Today, well over nine in 10 REALTORS® are part of a firm with a web presence. And instead of talking about whether it’s important to have a website, internet lovers are celebrating the seventh annual “Social Media Day” – or #SMDay, for connected types.

That means the internet is buzzing with discussions on how social media is changing the way we communicate. The question for businesses, of course, is how they can use it to connect with their customers, both current and future.

The real estate industry is no exception, and REALTORS® already represent a tremendous presence on social media. According to the National Association of REALTORS® 2016 Member Profile, 70 percent of members are using social media while an additional 8 percent plan to down the road. Twelve percent even reported using social media to list their properties.

social-media-icons-phone-coffeeSocial media usage is even more prominent among younger REALTORS®. For those 49 or under, eight in 10 report that they use social media.

But it may be too early to declare a social media revolution for the business of real estate. NAR’s 2015 Profile of Home Buyers and Sellers noted that the most common way buyers find an agent was still a personal referral. Forty-one percent of buyers surveyed used an agent that was referred to them by (or who is) a friend, neighbor or relative. Others (12 percent) worked with someone they had previously used to buy or sell a home.

Moreover, despite the fact that 42 percent of recent buyers said their first step in the home-buying process was to look online at properties, only 10 percent said they found a real estate agent online.

That means a significant number of people start the process online, only to seek out an offline source to find their agent (even if they’re asking for a referral from friends on Facebook).

So does that mean buyers and sellers aren’t quite ready to take the plunge into using social media en masse? Or is there pent-up demand for customer interface on social media that’s about to take hold?

It’s hard to say, but one thing’s for sure: REALTORS® are ahead of the game and they’re ready for what’s next!

Source: NAR Newsline

Protect Future Homebuyers With a Few Clicks

Recently, you may have seen an email or text message asking you to “take action” on something happening in Washington. Here’s the scoop:

Take Action - US Capitol, Washington, DC

The U.S. Senate is in danger of running out of time to improve housing markets across the country, and we need your help to reduce this barrier for homeownership!

young couple and dog with moving boxesWe urge you to take action now and tell our U.S. Senators to support H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016,” a bill that makes needed reforms to the FHA condominium loan program, federal-assisted housing programs and Rural Housing Service loan programs.

Bottom Line: This bill makes buying a condo MUCH easier by expanding opportunities for first-time homebuyers plus permanently streamlining rural housing programs, which many counties in Oklahoma depend on!

It just takes a few seconds but has an enormous effect on many homebuyers—and thus an economic impact on our communities!

Take Action Keyboard Button

Please forward this to your colleagues, friends and family. Also share this on your social media channels using the green button below. Everyone can help!

TAKE ACTION NOW!

 

Tech Tips for Buying and Selling a Home

Chuck Harris

OAR President Chuck Harris, CRB, CRS, e-PRO, GRI

Technology continues to play an expanding role in the real estate industry. According to the National Association of REALTORS® (NAR), 92 percent of homebuyers searched online during their home-buying process with more than half using mobile devices or apps in the home research process. The Oklahoma Association of REALTORS® (OAR) is offering technology tips Oklahomans should consider when buying or selling a home.

“From online lenders, real estate apps and virtual home tours, homebuyers and sellers have more tools at their disposal than ever,” said Chuck Harris, OAR president. “Oklahomans should consult their REALTOR® to guide them through the process and find reputable tools that can help achieve their goals.”

OAR is offering the following tips:

young-couple-agent-ipadImprove online listings.
Millennials—those born from 1980 to 2000—account for 68 percent of all first-time homebuyers and are the largest group of overall buyers at 35 percent, according to NAR. This generation prefers online tools and resources when buying and selling a home, so it’s important to ensure online listings are as complete and polished as possible. Invest in professional photographs of the home, provide as much description as possible in listings and consider new technologies like true virtual tours and high quality video.

Consider virtual tours.
360-degree-virtual-tourA true virtual home tour, more than just stitching together static photos, can give prospective buyers a 360-degree view of a home. Virtual tours can even replace open houses for those who prefer an online experience, such as Millennials, and cut down on open house safety risks and potential theft issues. Preparing for a virtual tour will further force sellers to think about the home from a buyer’s perspective. Other social media options include Periscope and Facebook Live where REALTORS® can give real-time tours to their extensive following of buyers in online social spaces and those relocating from other areas.

Utilize online tools and apps.
realtor.com logoOnline resources and apps like realtor.com help locate potential homes and even local REALTORS®. Other tools feature amenities in close proximity to a house, like Walk Score or Transit Score to understand commuting options. In addition, there are apps to help prospective buyers decide how much home they can afford. And when it’s time to move, there are apps, including Moving List, Moving Planner and HouseLogic that will help you get organized.

Stay true to local lenders.
While online mortgage lenders, such as Quicken Loans, have shown improved performance for some borrowers, OAR recommends you follow the advice of your local REALTOR® to work with a local lender. Most have the same online tools—much like online-only lenders—and are a visible part of your community. Their reputation is based on providing quality service and they are invested in the relationships they’ve built with all the parties involved in the transaction.

Commute Times Drive Millennial Homebuying Decisions

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Commute time to work, school, shopping and retail has become an important determining factor for Millennials in the midst of a homebuying search. In fact, nearly three fourths of people born in the 1980s and 1990s rate convenience and access as critical factors in their home purchase decision.

For REALTORS®, finding a home for these folks just got a lot easier.

RPR’s newly-enhanced Drive Time search option includes the ability to filter by day of the week, time of day, and length of journey. The function even includes walking times. That kind of pinpoint precision is invaluable for clients who want to spend less time in the car and more time building and enjoying a good quality of life.

While searching for homes using Drive or Walk Time filters, consider tapping into RPR’s Points of Interest (POI), also found on maps. POIs help to paint a complete picture of what the search area offers, such as retail, recreation, arts and entertainment, grocery, restaurants, hospitals, and more. View POIs by selecting the POI button on the large version of any map shown on the Search, Property Details or Search Results page.

To find for-sale properties within a specific walk or drive time of a set destination, simply:

  • Select For Sale from the available search options on the RPR homepage
  • Enter your general search area in the navigation box, e.g., “Arlington, VA” or enter a specific address, such as the location of your client’s employer
  • Choose Drive Time and drop the pin on the map where you want to center your search
  • A pop-up will appear. Choose how you plan to travel (car or walking), time of day, day of week, and length of journey
  • Select apply, and RPR will provide results based on your criteria for your location

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CRS Hosts Networking Night Out June 28

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Come One, Come All!*

This JOINT will be JIVIN’!

You won’t want to miss this swinging party…it’s sure to be the cat’s pajamas!!

  • crs gatsbyTuesday June 28, 2016 (moved from May due to dangerous weather)
  • 5:30-7:00p
  • Gatsby
    1415 S Western Rd | map
    Stillwater, OK 74074

*You do not have to have your CRS to attend.

Local Accommodations

  • Holiday Inn University West | website
  • Hampton Inn University West | website

Questions

  • Cindy Rodgers at 918-645-1174 (call/text)
  • Provence at 405-612-0194 (call/text)

Hors d’oeuvres provided by

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Just 43 Seconds Will Help Keep First-Time Homebuyers in the Market

take action washington dc capitol

The United States Senate is missing an opportunity to improve housing markets across the country, and we need your help to tell them to reduce this barrier for homeownership!

Take action now to urge your Senators to pass H.R. 3700, the “Housing Opportunity Through Modernization Act of 2016,” a bill that makes needed reforms to the FHA condominium loan program, federal-assisted housing programs and Rural Housing Service loan programs. These are particularly important to many first-time homebuyers!

Bottom Line: This bill makes buying a condo A LOT easier by expanding opportunities for first-time homebuyers and streamlining rural housing programs for low-income rental residents. Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

If you didn’t receive an email last night, you can still take action! And please feel free to share this with your colleagues and customers by clicking on the green SHARE button below.

TAKE ACTION NOW!

Broker Brings New Associates to Become Oriented With OAR, State Capitol

Amy BladowAmy Bladow, CRS, e-PRO, GRI, branch office broker for Century 21 Goodyear Green in Norman, brought six new agents to introduce them to their state association of REALTORS® this week. They toured the Oklahoma REALTOR® Building, met OAR staff and learned about the various functions of the association.

featured-image-amy-bladow-associates-at-oar“I think it’s so important our REALTORS® know first-hand the benefits they receive through their membership in the association,” says Bladow. “So many members who do not get involved, miss out on all the opportunities to understand our role in public advocacy, increase their knowledge, make new contacts and become more successful in their business.”

Pictured from left to right are Yajaira Long, Summer Arthur, Brad Bentley, Kalyn Williamson, Spencer Gill, Amy Bladow and Mossis Madu.

After their visit at OAR, they continued on to the State Capitol where they got a bird’s eye view of the House and Senate floors from the galleries, saw the rotunda and other public areas. OAR VP of Government Affairs Matt Robison and RPAC & Government Affairs Specialist Jessica Dietrich explained OAR’s role lobbying for—and against—legislation that keeps Oklahoma a friendly state for owning and maintaining private property.

The Oklahoma REALTOR® Building is YOUR building. Please feel welcome to stop by anytime. If you’d like an introduction and orientation with OAR staff, we can set that up for you too! Just call 405.848.9944 or email Susan.

GRI Students Send A “Squeak out” to Have You Join Them!

This week, GRI 202 enrollment exceeded the capacity of the classroom at the Oklahoma REALTOR® Building, so they are at the Moore Norman Technology Center, South Penn Campus!

Almost 80 students are having a blast—or a SQUEAK—this week and invite even more Oklahoma REALTORS® to join them on this exciting journey!

For more information about earning the GRI designation, visit the GRI Homepage or contact OAR Education Manager Melissa Marshall at 405.848.9944 or by email.

2016 NAR Member Profile Shows Younger REALTORS® Entering Industry

Yesterday the National Association of REALTORS® released the 2016 NAR Member Profile.

The report found that REALTORS®’ median age and experience has decreased, meaning new and younger professionals are entering the industry.

The typical member reported a median of 10 years of experience in real estate, down from 12 years in last year’s report. REALTORS®’ median age also decreased from 57 in 2014 to 53 in 2015, the lowest it has been since 2008, when the median age was 52.

According to NAR President Tom Salomone, “The median age of REALTORS® is younger than in the past because more people entered the real estate profession this year than in past years, with 20 percent of members reporting one year or less of experience. NAR is excited to have  young, fresh perspectives enter the industry, and we are proud to offer resources for our younger members to advance and grow, such as the Young Professionals Network and ‘30 Under 30’ recognition.”

Check out this infographic showcasing some of the report’s findings:

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Source: NAR Newsline

RLI Auction Tool Course Offered Online in June

featured-image-alc-rli-logo-with-background-rliland-videoThe REALTORS® Land Institute Auction Tool course is designed to help brokers/agents make more deals by adding another tool to their tool kit. REALTORS® will gain the confidence to introduce their clients to real estate auctions as an avenue to buy or sell properties.

This course will cover:

  • the benefits of using auctions as a tool
  • how to identify sellers, properties, and markets for auction
  • how to establish alliances with auction firms
  • and more!
REGISTER

Instructor

Sam Kain, ALC, 2005 RLI National President, has over 25 years of land experience. He promotes and assists real estate activity in Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota. Kain has served on the Farmers National Company Board of Directors from 2009-2012 and was the Chair of the Land Use, Property Rights & Environmental Forum for the National Association of REALTORS®.

For more information, please contact the Institute at 800.441.5263 or rli@realtors.org

 

How Much to Invest Before Selling a Home

Oklahoma Association of REALTORS® offers tips to help sellers improve their listing

Green-Home-Value-Costs-568x432The prime home buying and selling season is in full swing and many Oklahoma homeowners may be wrestling with the question, “How much should I invest before selling my home?” Oklahoma Association of REALTORS® (OAR) is offering tips on what sellers should consider to help improve their listing.

“There are many things to consider when deciding how much to invest when selling a home,” said Chuck Harris, Oklahoma Association of REALTORS® President. “For the most part, the general items to consider updating are interior and exterior paint, flooring, landscaping and blinds. Making these general investments can translate to a higher selling price.”

OAR is offering the following tips:

featured-image-fireplace

Consider staging. You’ll never get a second chance to make a first impression. A home stager has expertise in planning and choosing colors, fabrics and furniture, and arranging them all in a way that makes your home look its best. Staging your home can help it sell faster and get the highest price possible.

Forget the allowance. Adding an allowance into the contract to fix existing issues such as stained carpet or repainting is not recommended. Local real estate experts say that in the $100,000 to $250,000 range, buyers want a move-in ready house. If simple items are not complete, it often triggers buyers to wonder what else was not maintained.

Do general updates. Investing in general updates or fixes can heighten interest in the house or ensure your list price is attained. General items to consider include putting a fresh coat of neutral (gray or white) interior paint; updating flooring, especially if it is stained, worn or scratched; cleaning up landscaping, including adding mulch, trimming trees, etc.; and updating your home’s blinds. You do not need to renovate the entire house, but update it enough to increase its inside curb appeal.

Leave major investments for buyer. Of course, each market and house is a unique case, but in general, updates that would require a major investment are better left to the next owner. For example, replacing old windows with energy-efficient ones is a great idea, but not if you won’t be there to reap the benefits of lower energy bills. Additionally, a buyer may have very specific tastes, so it’s not worth splurging on expensive appliances that you’re not using yourself.

Highlights from the 2016 REALTORS® Legislative Meetings

It was a memorable 2016 REALTORS® Legislative Meetings & Trade Expo for the over 8,500 REALTORS® in attendance and plethora of NAR staff members working vigorously to ensure the meetings went on without a hitch.

For the Media Team, last week was a bevy of written news releases and blog posts covering many of the prominent sessions on topics impacting REALTORS®, consumers and the real estate industry. A special thank you is warranted to donuts, coffee and sugar.

Here’s a recap of all the news and “need-to-knows” from last week:

Monday, May 9

Metro Home Prices Maintain Steadfast Growth in First Quarter 
An uptick in sales activity amidst meager supply levels upheld the trend of unwavering price gains in an overwhelming majority of metro areas during the first quarter of 2016.

Tuesday, May 10

Pollsters Tell REALTORS® that it’s STILL the Economy, Stupid:
Election season is now in full swing, and Realtors® got some first-hand insight on the electoral state-of-play from two of the country’s premier political pollsters, Peter Hart and Bill McInturff.

HUD Secretary Castro, Panelists Discuss Housing Opportunities for Young Adults Repaying Student Debt
Struggles exist for many young adults trying to become homeowners, and the burden of repaying their student loan debt is in part delaying their ability to buy. 

Wednesday, May 11

Famed Washington Post Reporter Trades Wisdom (and Real Estate Tips) with REALTORS®
The 2016 election has been called “unprecedented” and “unlike any other,” but seasoned journalist Bob Woodward had a lot to say at the 2016 REALTORS® Legislative Meetings & Trade Expo about lessons learned from past administrations and what they can teach us about present-day politics.

RealScout Joins REach® Accelerator Class of 2016
Second Century Ventures has accepted RealScout, an agent-branded web and mobile platform, as the eighth company in its 2016 REach® accelerator class.

Real Estate Agents, Appraisers Voice Concerns over FHA Appraisal Policies
While the Federal Housing Administration’s overhaul of its Single-Family Housing Policy Handbook last year offered loan originators more clarity on lending policies and loan underwriting standards, some changes made to the property valuation policies are causing confusion and delays.

Thursday, May 12

OAR members joined REALTORS® from around the country meeting with Congressmen and Senators on Capitol Hill about federal issues that impact our profession and property ownership. Catch the special Washington edition of Capitol Insider to hear 2016 OAR President Chuck Harris and Federal Political Coordinator Kathy Fowler talk to Congressman Frank Lucas about his views about the importance of the real estate industry.

Existing-Home Sales on Course for Best Year since 2006, Student Loan Debt Slowing Prospective Buyers
Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, says Lawrence Yun, NAR chief economist. 

Sen. Elizabeth Warren: REALTORS® “On the Front lines to Strengthen Middle Class”
Residential issues forum guest speaker Sen. Elizabeth Warren pulled no punches when it came to the topic of student loan debt and its effect on the broader economy.

Lending Remains Largest Concern for Commercial Real Estate Market, Say REALTORS®
REALTORS® specializing in commercial real estate expressed confidence in the continued recovery seen in the market but concern over the availability of commercial financing. 

Friday, May 13

What the Latest Fair Housing Guidance on Criminal Background Checks Means for Real Estate
The Department of Housing and Urban Development published Fair Housing Act guidance on April 4 that has raised concerns for housing providers who use criminal history screening processes to make decisions about sales, rentals financing and other real estate activity. Since then, real estate professionals have been asking what it means for them and their businesses.

Millennials Changing Face of America, Heavily Impacting Homeownership, Say Experts
Millennials are bucking trends, changing the landscape of America, and sharply different from previous generations in many different ways. One of the most visible and consequential ways is through millennial homeownership numbers, according to experts on generational trends and homeownership.

Fine Balance Needed between Property Rights, Regulation of Short-term Rentals
Mobile and online technology and evolving consumer tastes are changing the dynamics of renting property, and the debate on whether the regulatory response from state and local governments clashes with individual property rights will likely continue, according to speakers at a panel discussion on the current issues surrounding short-term rentals.

REALTOR® University Celebrates Their 2016 Graduates
Congratulations to the 2016 REALTOR® University graduating class! Their academic success was celebrated today with a commencement ceremony in Washington, D.C.The students at REALTOR® University differentiate themselves by earning a Master of Real Estate degree, which includes courses and concentrations tailored specifically to the needs of real estate professionals.

USDA Commends National Association of REALTORS® for Rural Housing Support
REALTORS® are an entry point to homeownership for millions of consumers, but providing options for prospective homebuyers in rural areas is often more challenging than in urban and suburban markets. Rural areas may suffer from a lack of affordable inventory, and mortgage credit can be hard to come by.

SBA Loans – You might want to take a second look!
Leaders of the Small Business Administration spoke about how SBA’s 7(a) and 504 Loan Programs can benefit commercial clients.

Source: NAR Newsline

Salomone: CFPB Recognizes “There Are Lingering Challenges to Address”

featured-image-tom-salomone-nar-presidentThe following is a statement by National Association of REALTORS® President Tom Salomone in response to the Consumer Financial Protection Bureau’s letter announcing a Notice of Proposed Rulemaking to bring further clarity to and improve upon the TILA-RESPA Integrated Disclosure rule that went into effect in October of 2015:

“The real estate industry has responded well to the implementation of ‘Know Before You Owe,’ but there’s still work ahead. Today’s announcement from the CFPB is a recognition that there are lingering challenges to address, and I appreciate Director Cordray’s commitment to hearing those concerns.

NAR REALTOR Logo“REALTORS® continue to report issues in the post-TRID environment with gaining access to the Closing Disclosure, despite years of access to the substantively similar HUD-1. NAR remains committed to  ensuring REALTORS® have access to the CD so they can put their expert advice to work guiding clients throughout the home buying process uninterrupted from beginning to end.

“We look forward to addressing remaining TRID-related concerns as part of the rulemaking process in the months ahead and thank the CFPB for an opportunity make the REALTOR® voice heard on this issue.”

Source: NAR Newsline

RLI Offers Online International Aspects and Mapping Courses

rli-may-2016-courses-600px

The REALTORS® Land Institute (RLI) will be offering two courses in May that are designed to help REALTORS® expand the boundaries of their business. Both the International Aspects of Real Estate and the Mapping & Practical Navigation will be offered as online, no-travel courses.

Mapping & Practical Navigation | 16 Hours (UPDATED)

rli-may-2016-coursesInstructor: Steve Roberson

Knowledge you’ll learn to help build your business:

  • Mapping programs, including ESRI, Google Earth Pro and MapRight
  • How to find a property using private and government sources
  • How to accurately draw out a property
  • Understanding Projections and Coordinate Systems
  • The elements of sound map making
  • What kind of maps should be made for a listing
  • How to maximize the use of maps in your marketing materials
  • On-site navigation tool options/overview
  • How to use your navigation program in the field
  • How to utilize data collected in the field to enhance your marketing maps
Register or learn more

International Aspects of Real Estate | 16 Hours

Instructor: Kurt Stanberry, Esq.

Expand your knowledge to take on international business opportunities by learning to work with and provide guidance to buyers, sellers, and investors looking to conduct international business.

Purchasing in an unfamiliar market can be daunting, whether investing, seeking vacation property, or a first generation immigrant living in the U.S. However, having the the knowledge available in this class will be an asset that can expand the boarders of your business.

Register or learn more

 

Conversation on National Flood Insurance Program Heats Up

The National Flood Insurance Program is set to expire in September 2017, and according to the National Association of REALTORS®, the stakes are high for reauthorization.

The program lapsed twice between 2008 and 2012, and NAR estimates that as many as 40,000 home sales stalled every month as a result. Another lapse would represent a significant challenge to consumers and the housing market. Flood large

But supporters of the program have their sights on more than just reauthorizing the program. Improvements are needed to strengthen the NFIP and better serve homeowners in flood-prone areas.

As part of that effort, NAR joined the SmarterSafer Coalition last week to announce joint principles for reform of the NFIP.

In an op-ed with SmarterSafer, NAR President Tom Salomone offered a snapshop of those principles:

  • The NFIP is a critical part of the future landscape for homeowners and taxpayers alike so it must be reauthorized long term;
  • “The private sector needs to be encouraged to provide consumer choices in addition to the NFIP;
  • “The government needs to do more to encourage resiliency and provide incentives for policy holders to build higher or relocate to higher ground away from our coasts and waterways; and
  • “The NFIP must do a better job of mapping and estimating risk, and that rates should reflect that risk over time.
  • “The fact remains that while homeowners face one major flood event after another – including floods along the Mississippi River, Hurricane Sandy, and last year’s floods in South Carolina – demand on the already-strained system is not letting up.”

The writers acknowledged in the op-ed that NAR and the SmarterSafer Coalition haven’t always agreed on the issue of how to address the NFIP; however, they note that they’ve set aside past disagreements in the hopes of spurring legislative action on this critical program.

“The National Association of REALTORS® and the SmarterSafer coalition have at times disagreed in the past about how to address this issue,” they wrote. “However, the path forward has become so clear, and the stakes so high, that we are urging Congress to rescue the program with a series of common sense reforms before it’s too late.”

Politico reported earlier this year that leaders in Congress are taking notice of the September 2017 deadline.  Congressman Blaine Luetkemeyer, Chairman of the House Financial Services Subcommittee on Housing and Insurance, said he hopes to have draft language for a NFIP reauthorization bill by year’s end.

Source: NAR Newsline

VIDEO: April 15 Capitol Insider

The Oklahoma Association of REALTORS® is actively engaged in legislation important to the real estate industry. Measures like SB 1245, county transfer tax bill and SB 1250, our e-notary bill, both made their way through the house this week. Check out OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips in this week’s Capitol Insider video for more information about these and other issues OAR is following at the State Capitol.

Also, see OAR’s updated Bill Tracker and other timely info on the Government Affairs section of okrealtors.com.

Real Estate Land Professionals Will Go BIG! in Little Rock

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Land Professionals from across the country will gather in Little Rock, Ark., from June 5-13 to attend one of the land real estate industry’s biggest educational events. The annual LANDU Education Week plus, put on by the REALTORS® Land Institute, is a unique opportunity for real estate agents to network and earn all of the education requirements towards the Accredited Land Consultant designation in one place.

LANDU approved, expert instructors will facilitate courses which count towards the ALC designation as well as most National Association of REALTORS® State Association Continuing Education credits*. Registrants can choose to take between one and six courses during the event. This year’s LANDU Education Week plus is backed by the strength of the RLI Arkansas Chapter.

The REALTORS® Land Institute is currently offering a free one-year membership with full member benefits to event registrants signing up for all six courses who are new to the Institute. Current members can save $100 off registration when registering to attend all six courses.

For more information or to take advantage of these offers, please contact RLI Staff at 800.441.5263.

About the REALTORS® Land Institute

featured-image-alc-rli-logo-with-background-rliland-videoThe REALTORS® Land Institute, an affiliate of the National Association of REALTORS®, is the professional membership organization for real estate practitioners who specialize in land transactions. Over 100 years old, the Institute provides a wide range of programs and services that build knowledge, relationships, and business opportunities for the best in the land business. Through its best-in-class LANDU curriculum, the REALTORS® Land Institute confers its Accredited Land Consultant designation to only those real estate practitioners who achieve the highest levels of education, experience, and professionalism. For more information, visit rliland.com or call 800.441.5263.

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*The REALTORS® Land Institute is not responsible for determining if a course is eligible for CE credit. Oklahoma registrants may contact the Institute to request information, which you may bring to the Oklahoma Real Estate Commission to verify the course’s eligibility for CE credit.

Do You Know How to Save 50% on GRI?

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Bring a new student to GRI—whether it be another aspiring agent in your office, your broker (who should already be a GRI), a cross-sale agent you got to know recently, or maybe even your assistant! You BOTH save 50% on that class! Now you’re both on your way to achieving the Graduate, REALTOR® Institute (GRI) designation!

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Earning the GRI requires just six modules, so if you know a handful of colleagues who could benefit (and that’s every one of ’em, by the way), you can save 50% on the rest of your GRI classes! Now that’s smart.

Having the GRI behind your name is a way to stand out to prospective homebuyers and sellers as a REALTOR® who has gained in-depth knowledge on technical subjects as well as important fundamentals of real estate. You learn from industry experts from Oklahoma and around the country, you grow your referral network with like-minded professionals, and you gain the latest tools and practices. Did you know REALTORS® with a professional designation earn a median income of 74% more than those without? (REALTORS® from around the country reported that fact in the most recent NAR member survey.)

FIND OUT MORE!

Goss Wins #OwnOK Text Feedback Contest

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betty-goss-thumbnailAt last week’s OwnOK Real Estate Industry Conference in Oklahoma City, attendees were asked to provide their feedback by text message to OAR’s communications team. Attendees who texted ownok to 95577 with their feedback were entered to win a $50 Amazon gift card. OAR congratulates the winner, Norman REALTOR® Betty Goss, CRS, GRI! Betty is broker/owner of Metro Brokers of Oklahoma in Norman. Incidentally, Betty’s text said, “Morning speakers were fabulous! Kent is the bomb:-)”

Kent Carter, past president of the Oklahoma Mortgage Bankers Association, again served as master of ceremonies for the event.

A recurring theme in the feedback was the sessions were wonderful, and attendees were so glad to have something like this in Oklahoma. So, for OAR and the other presenting partners, we thank all the attendees for helping make the 2016 OwnOK a big success!

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View, download and share the photos from the OwnOK event page!

OwnOK is a special event presented by a partnership of the Oklahoma Association of REALTORS®, Oklahoma Mortgage Bankers Association, Oklahoma State Home Builders Association, Oklahoma Land Title Association, Oklahoma Credit Union Association and the Oklahoma Employees Credit Union.

OWNOK

New zipForm Integration for Reesio Transaction Management

Realtor.com is excited to announce the completion of the new integration with Reesio and zipForm®. Beginning April 5, Reesio customers who are using zipForm will be able to fill out contracts and forms right within Reesio, saving time and making it even easier to collaborate securely and seamlessly with clients and other transaction members.

New features:*

  • Create a transaction in Reesio and have it simultaneously created in zipForm, with one click
  • Choose from your local/state association library of documents and fill out your forms directly within Reesio
  • Auto-populate relevant transaction data from Reesio to the appropriate fields within the forms
  • Access your form template options within Reesio based on the type of transaction that’s created
  • Send documents automatically for e-signature through your DocuSign® or Digital Ink account that’s linked to zipForm
  • Simple one-time setup to link your zipForm account in Reesio

About Reesio


Reesio’s transaction management platform allows real estate professionals to simplify the process for home buyers and sellers by bringing the entire transaction online. Reesio’s secure online platform allows collaborators to share, edit, sign and store transaction documents such as offer letters, inspection reports and loan information in one place, and helps brokers and agents to reduce transaction errors and risk by allowing workflow templates to guide the steps and requirements for closing. Reesio’s new integration with zipForm makes it even easier for real estate professionals to manage transactions and collaborate with clients and transaction members, while upholding the industry’s most rigorous protocols for data privacy and security.

The goal of realtor.com is to provide the industry with end-to-end solutions to keep the real estate professional at the center of the home buying and selling process.


* To take advantage of this new integration with Reesio and zipForm, you must have a zipForm account. Coverage varies by market.

 

NWOAR Benefit Golf Tournament May 6

Friday, May 6, 2016
Pheasant Run Golf Course
$75 per player
Registration 11:00a-Noon
Shotgun start at 1:00p
Steak Dinner when you come in.

Benefactor is Brynda Row of Covington, OK.
She was diagnosed with brain cancer. Her husband, who was raised in Enid, lost his job.
They have 4 school-age children.

Join us for a FUN day and help a family out who is in need.
Contact NWOAR @ 580-242-1670 or nwoar@fullnet.net.

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VIDEO: April 8 Capitol Insider

This was a big week for OAR! Tuesday evening we cohosted an RPAC major investor reception with OKCMAR at the Chesapeake Finish Line Tower [PHOTOS]. Special guest for this fundraiser was Gary Reggish, NAR REALTOR® Party Fundraising Liaison and Michigan Association of REALTORS® President.

Wednesday was jam packed with the 2nd Annual OwnOK Real Estate Industry Conference [PHOTOS], Real Estate Day at the Capitol [PHOTOS] and then capped off with our Legislative Reception [PHOTOS] at the beautiful Oklahoma History Center.

Even with all the member events this week, we continued to make progress at the State Capitol, including members witnessing the Property Management Definition Bill passing out of the House.

In this week’s Capitol Insider video, OAR’s VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips update us on this and other measures we’re working on. Also, see OAR’s updated Bill Tracker and other timely info on the Government Affairs section of okrealtors.com.

It’s Easy to Become a Listing Presentation Pro with RPR

James and Penny Brockway, Brockway Realty, LLC

James and Penny Brockway, Brockway Realty, LLC

It all started with a $30,000 difference of opinion. A past client of Penny Brockway’s called to say she was looking to break even on a quick sale of her home, which was originally purchased for $183,000. Penny thought the property could sell for $227,000 but was outnumbered by her husband and business partner, James (who felt $200,000 was a more realistic list price) and the client who felt both of those prices were “way, way too high.”

Determined to prove otherwise, Penny, a REALTOR® with Brockway Realty, Clear Lake Area of Texas, created an RPR Seller’s Report showing James and the client why she was right about the price. Based on Penny’s input, the team compromised, landing on an asking price of $220,000—nearly $30,000 more than their client’s original purchase price. The property received a full price offer in eight days. In fact, they continued to receive offers that were over list price.

“Since then, we’ve become RPR’s biggest fans,” claims Penny. “It has helped grow our business because it has given us more credibility.”

Leading from the start

Penny specializes in listing presentations by maximizing every RPR tool at her disposal. When potential clients call, she is ready.

“That first phone call is critical,” she said. “I’ll immediately pull up RPR on my tablet and start researching the seller’s home while asking questions at the same time.”

Penny first looks to the Realtor Valuation Model® (RVM®) Confidence Score. “It gives me a level of security as to whether the value is solid. Four or five stars give us a great start.” She then turns to RPR’s map features to see current values of neighboring homes. Next, she quizzes the seller to confirm the home’s basic facts such as number of bedrooms, baths, square footage, etc. Penny then lets the seller know that, together, they will adjust the current value of his/her home using RPR’s Refined Value Tool.

“They’ll tell me they have an addition that’s not on the public record or upgraded a bathroom in recent years. We can adjust the home’s value for a new kitchen, entry doors, roof, and so many other improvements. It’s easy to do and clients are incredibly impressed by the fact that I can do it right then and there.”

Improve Curb Appeal This Spring

Now that spring has finally sprung, the time has come to start all of the yard and house work that was put off over the winter. And if you are looking to sell your house this spring, it is time to ramp up your curb appeal. How the exterior of your house looks can be just as important to potential buyers as the interior, and a dingy paint job and unmowed lawn can affect the perceived value of your home.

Check out this infographic from NAR on some easy ways to improve your curb appeal!

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Source: NAR Newsline

In Which Direction Will Sales Swing This Spring?

Is today’s solid report on February contract signings a harbinger of a strong spring for the housing market? It could be.

Pending home sales rose solidly last month (3.5%) to the highest index reading since last July (109.8). The decent increase, led by a robust upswing in the Midwest, was a result of a modest increase in inventory (this happens most years in February) and mortgage rates as low as they’ve been over the past year.

In Oklahoma, pending home sales in February were at 3,944, which is an increase of more than 21% from January and an increase of 15% from February 2015.

OKLAHOMA HOUSING DATA

According to Lawrence Yun, NAR chief economist, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. If this doesn’t occur, sales will likely plateau.

Watch the video to hear more on what Yun expects for the national housing market this spring.

Source: NAR Newsline

Military Foreclosure Protection Bill Passes Congress

On March 21, 2016, the U.S. House of Representatives passed S. 2393, the “Foreclosure Relief and Extension for Servicemembers Act of 2015,” which extends the one-year protection from foreclosure in the Servicemembers Civil Relief Act (SCRA) through 2017. The Senate passed S. 2393 in 2015 and the legislation is expected to be signed by the President.

The Servicemembers Civil Relief Act (SCRA) is intended to help those men and women who have answered their nation’s call by providing certain financial protections, including foreclosure protection, to members of the military that have incurred debt prior to their active service.

NAR recently signed onto a coalition letter to Speaker Ryan and Minority Leader Pelosi strongly supporting House passage of S. 2393. Earlier this month, NAR was joined by eight other financial services trade associations in encouraging Congress to pass an extension of the one-year foreclosure protection as soon as possible.

Read NAR’s coalition letter urging support of S.2393

Source: realtor.org

VIDEO: March 25 Capitol Insider Legislative Update

We made more progress this week at the State Capitol. SB 1123 by Sen. David and Rep. Kirby unanimously passed the House Economic Development, Commerce and Real Estate Committee. The measure is an effort to provide a statutory definition of “property management”.

A House Appropriations and Budget Subcommittee unanimously passed OAR’s SB 1245, which assures counties cannot charge a “transfer fee” on real estate transactions in order to fund floodplain management programs. It now goes to the full committee.

Check out the conversation about these and other issues OAR is in front of at the capitol!

8 Things New Users Want to Know About RPR Residential

When considering adoption of a new business tool, new and seasoned REALTORS® unanimously want to know “What will it do for me and how will it help my business?”

Realtors Property Resource® (RPR®) is designed exclusively for that purpose: to help REALTORS® achieve professional success by providing them with an unparalleled platform of dynamic data and persuasive reports that help attract, retain and lead clients to the closing table. The system must be accessible 24/7 from any device (desktop to mobile), all-inclusive, easy to use, and produce client-friendly information that yields results—all at no additional cost.

CLICK HERE to learn eight areas of RPR you can use to build your real estate business!

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READ THE SERIES

Email Scam Targeting Homebuyers Catches FTC, NAR Attention

Scammers have used email to defraud consumers for years, with increasing levels of sophistication. But a recent ‘phishing’ operation is once again putting people’s bank accounts in the cross-hairs.

This time, the target is prospective homebuyers.

Comptuer

Here’s how it works: Hackers break into the email account of a consumer or real estate professional to determine the date of an upcoming closing. They then use that information to send a fraudulent email to the buyer, posing as one of the professionals involved in the transaction.

The email contains wiring instructions that are allegedly tied to the closing, but which actually rout directly to the scammer’s account. If a buyer is fooled, they may see their bank account wiped out.

In an effort to keep consumers one step ahead, the Federal Trade Commission and the National Association of REALTORS® are working together to make sure prospective buyers are in the know.

NAR President Tom Salomone condemned the scam, encouraging prospective buyers to stay alert.

“Buying a home should be an exciting event, but sadly an email and money-wiring scam is underway targeting consumers’ sensitive financial information,” said Salomone. “We’re working with the Federal Trade Commission to shine a bright light on this criminal activity and help protect prospective homeowners.”

The FTC offered some advice to consumers in a blog post late last week, noting that “if you’re buying a home and get an email with money-wiring instructions, STOP.” In addition to avoiding the scam, the FTC had a number of proactive suggestions to protect against similar crimes.

Here’s what the FTC had to say:

  • “Don’t email financial information. It’s not secure.”
  • “If you’re giving your financial information on the web, make sure the site is secure. Look for a URL that begins with https (the “s” stands for secure). And, instead of clicking a link in an email to go to an organization’s site, look up the real URL and type in the web address yourself.”
  • “Be cautious about opening attachments and downloading files from emails, regardless of who sent them. These files can contain malware that can weaken your computer’s security.”
  • “Keep your operating system, browser, and security software up to date.”

Just as important, the FTC urged consumers to report phishing scams to the FTC for further action.

Source: NAR Newsline

Louisiana REALTORS® Disaster Relief Sought

As you may know, Louisiana recently suffered disastrous weather recently, and there is more to come this week. Louisiana REALTORS® and their clients are in need. Many have been displaced by flooding in the northern part of the state.

The Louisiana Association of REALTORS® is currently working with NAR and have launched a donation page. Please consider making a donation to our REALTOR® family who have suffered damages or who have been displaced during the storms and flooding.

DONATION PAGE

If you have any questions, please contact them at:

larealtors-logo
821 Main Street
Baton Rouge, LA 70802
225.923.2210
info@larealtors.org

Learn New Business Building Tools in March 22 Webinar

Successful agents consistently seek new strategies that will grow and brand their businesses, maximize their time, and help them gain a competitive edge in the marketplace. Fortunately, all of those objectives, and more, can be met by tapping into the REALTOR’S® most powerful platform. Introducing Realtors Property Resource® (RPR®)—a desktop, tablet and mobile accessible database of more than 160 million U.S. properties, offered exclusively to members of the National Association of REALTORS®, and at no additional cost.

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Join OAR and RPR for this captivating journey into discovering how RPR® can build your business beyond what you could have imagined. In this free workshop, you will learn to:

  1. Dive into an amazing array of data sets ranging from demographics and school attendance to tax and mortgage history, listings, sales, valuations, heat maps, flood zones, and demographics—all in one place.
  2. Generate stunning, custom branded property reports for print, email and text.
  3. Capture listings with comps like you’ve never seen them before.
  4. Instantly respond to prospects and clients with on-demand data through RPR Mobile™.

Tuesday, March 22
11:00a
FREE

REGISTER FOR WEBINAR

Know someone who could benefit from this webcast? Please share this invitation.


Take a look at additional RPR resources >>

March Madness in Home Prices

The passionate aura of school spirit and rambunctious crowds that flock to arenas across the country during NCAA March Madness make any college graduate reminisce about the days of campus life.

Unfortunately, time machines aren’t real to bring you back to a time of eating stale Easy Mac in order to save money for beer textbooks. However, the consolation prize could be buying a home in a college town.

Here are the median single-family home prices in the campus location of some of the top-seeded teams in this year’s men’s tournament:

Source: NAR Newsline

OK CRS Hosting Class on Building an Exceptional Customer Service Referral Business

This highly interactive course April 11-12 is designed to deliver all the essentials for refocusing the student’s business plan to a customer service centered, repeat and referral business. The information provided will help identify the expectations of the “new consumer”, the “new behaviors” necessary to meet those expectations and specific systems to make the agent’s business more productive, more profitable and more enjoyable.

Course Content

  • Learn to save time AND money working with past clients
  • Meeting the expectations of the “new consumer”
  • Dialogues and strategies for building a referral database
  • Delivery systems to generate a successful referral business

Great customer service is the key to generating repeat and referral business. Learn to refocus your business model and use new approaches to garner referrals from your existing satisfied clients in a more systematic, structured way.

Upon the successful completion of this course, you will be able to:

  • Refocus your business on extraordinary customer service to attract a higher caliber client in a more structured way
  • Develop strategies and dialogues for enhancing, sorting and prioritizing a database of local, national and global referral clients
  • Identify the expectations of the “new consumer” and the specific behavioral changes required of the “new referral-based agent” to meet those expectations
  • Plan specific delivery systems designed to generate an ongoing, successful repeat and referral business

Individuals Who Take This Course Will Earn

  • 16 CRS Education Course Credits Toward the CRS Designation*
  • 16 hours elective CE credit through OREC

*If You Have Been Selling Real Estate for 10 or More Years, You May Qualify for the CRS Designation After Completion of Just 16 Hours of CRS Education. Ask Us How!

Details

April 11-12, 2016
8:30a-5:00p
Oklahoma REALTOR® Building | 9807 Broadway Ext | OKC 73114
Fee $295

CRS BOGO Promo Split the Fee!

Through April 1, invite and register with another awesome agent* and split the fee! ($147.50 savings)

REGISTER NOW

*When registering, the second registrant’s name is entered midway through registration process.

About the Instructor

Robert Morris graduated from Middle Tennessee State University with a Bachelor of Science in Biology and an Associate Degree in Mid-Management Technology from State Technical Institute at Memphis. Robert entered the real estate field in 1985 and has been actively involved in real estate sales and training since that time. He is currently a selling broker with Bob Parks Realty, LLC, located in Smyrna, Tennessee, where he actively lists and sells real estate with team, TeamRobertMorris. Robert was honored with the 2000 REALTOR® of the Year award at one of his local associations as well as Tennessee REALTOR® Educator of the year in 1995.

Hotel Information

Comfort Inn
13501 N Highland Park, OKC
405.286.2700
Group rate $80/night, includes free breakfast

REGISTER NOW   COURSE OUTLINE

VIDEO: March 11 Capitol Insider

Join OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips as they update us with our progress at the State Capitol.

Also, see OAR’s updated Bill Tracker and other timely info on the Government Affairs section of okrealtors.com.


OwnOK-header

Have you registered for OwnOK yet? This popular event sold out last year, so register now and join REALTORS®, mortgage bankers, homebuilders, credit union, title company and other related real estate industry leaders at OwnOK​ April 6!

OwnOK2016-speakers

OWNOK EVENT

The Myth of the Millennial Homebuyer

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They’re eschewing buying a home in the suburbs like the plague. They prefer their first home to be as close as possible to the nearest coffee shop or “hip” restaurant. Space? Who needs it.

Who are we referring to? It’s not the millennial generation.

NAR Research released its 2016 Home Buyer and Seller Generational Trends survey yesterday. Contrary to some of the popular rhetoric out there, while millennials may choose to live in the city as renters, an increasing share of them are purchasing single-family homes in suburban areas.

The reasons are threefold: lifestyle changes, space and affordability.

Lawrence Yun, NAR chief economist, puts it best: “The median age of a millennial homebuyer is 30 years old, which typically is the time in life where one settles down to marry and raise a family,” he said. “Even if an urban setting is where they’d like to buy their first home, the need for more space at an affordable price is for the most part pushing their search further out. Furthermore, limited inventory in millennials’ price range, minimal entry-level condo construction and affordability pressures make buying in the city extremely difficult for most young households.”

young-couple-agent-ipadWhat else did the survey reveal about recent millennial buyers? Check out some of the key findings below:

  • Age – 30 years old
  • Household income – $77,400
  • Home size – 1,720 sq. ft.
  • Year of home built – 1984
  • Cost – $187,400 (millennials)
  • Type of home – only 10 percent of millennials bought a multifamily home
  • Median down payment – 7 percent
    • 23 percent cited a gift from a relative or friend as a source of their down payment
    • Millennials were most likely to cite student debt (53 percent) as the debt that delayed saving
  • 87 percent used an agent to buy a home
  • Millennials’ desire to own a home of their own as the primary reason for their purchase increased to 48 percent (39 percent a year ago)
VIEW TRENDS REPORT

Source: NAR Newsline

VIDEO: March 4 Capitol Insider

Join OAR VP of Government Affairs Matt Robison and Contract Lobbyist Karel Brewster as they update us with our work with the floodplain management bill and other important measures making their way through the State Capitol.

Also, keep up to date with OAR’s Bill Tracker and other info on the Government Affairs section of okrealtors.com.


OwnOK-header

Have you registered for OwnOK yet? This popular event sold out last year, so register now and join REALTORS®, mortgage bankers, homebuilders, credit union, title company and other related real estate industry leaders at OwnOK​ April 6!

OWNOK EVENT

Real Estate CE Credit Available at OHFA Housing Summit

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Oklahoma real estate licensees attending the April 14 Housing Summit may receive 4 hours of continuing education credit.

Session 1

  • Statewide Housing Needs Assessment

Session 2

  • Best Practices & Case Studies
  • Tackling Rural Development Challenges
  • Serving Special Needs/Targeted Populations

Session 3

  • Update from Washington, D.C.
  • Opening Doors to Homeownership
  • Rental Housing in the New Economy

Session 4

  • Presentation of Existing Affordable Housing
  • Financing Resources & Partnerships
  • Affordable Housing Design & Construction

You must attend one of these sessions in all four time slots to obtain CE credit. Be sure to use the #OKHousingSummit hashtag!

MORE INFO | REGISTER

Tulsa Commercial Market Update Is March 9

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Now in its 18th year, the annual Greater Tulsa Commercial Market Update is a must-attend event for commercial real estate professionals in Tulsa and surrounding areas, including Oklahoma City. It’s also a great event for developers, investors, bankers, lenders—anyone with an interest in what’s on the horizon for economic development in the market.

  • Tulsa Renaissance Hotel | 6808 S. 107th East Ave. | Tulsa, OK
  • 7:30a–Noon (Buffet breakfast and networking at 7:30; program starts at 8:15)
  • 3 Core CE: HOT Topic

Market Overviews

Area brokers provide snap-shot reviews of activity in each commercial market segment—office, retail/development, industrial, and multi-family—over the last year, as well as a forecast and an insight of future projects for the coming year.

  • Office: Tanda Francis, Managing Broker-Tulsa, Price Edwards & Company
  • Retail/Development: Matt Mardis, Commercial Real Estate Associate, Paine & Associates
  • Industrial: Jamie Hill, Vice President, Industrial Services, CBRE
  • Multi-Family: John Gilbert, President & Chief Operating Officer, Bomasada Group, Inc. and
    Melanie Richardson, VP/CFO Broker Associate, First Commercial Real Estate Services Corporation

Downtown Update

Cody Brandt, Senior Research Analyst, CBRE
Economic Impact Panel: This year’s speakers will discuss repurposing projects happening in our market.

  • Crystal Keller – Construction & Retail Development Manager, City of Tulsa Mayor’s Office of Economic Development
  • Warren Unsicker – VP of Economic Development, Broken Arrow Economic Development Corporation
  • Brent Edstrom – Executive VP and Chief Operating Officer, Reasor’s LLC

Announcement of 2015 GTAR Commercial REALTOR® of the Year. This honor is awarded to a commercial member who promotes the interest of the commercial real estate profession, the community, and his or her clients.

Keynote Speaker

G.T. Bynum, Tulsa City Councilor, District 9
Moderater: Bill Richert, Richert Properties, Inc.

Organized by the Commercial RE Specialists of the Greater Tulsa Association of REALTORS®

MORE INFO | REGISTER

For more information, email dholland@tulsarealtors.com or call 918-663-7500.

Super Tuesday Voting Tomorrow!

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Tomorrow is “Super Tuesday,” when Oklahomans as well as residents of 12 other states and one territory cast their votes in the presidential primary elections. In consideration of this important day, the US Census Bureau has prepared infographics detailing relevant statistics for each state.

Check out the stats below to learn something new about our state, and be sure to get out and vote tomorrow!

FIND YOUR POLLING PLACE

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VIDEO: February 26 Capitol Insider

Join Matt Robison, OAR VP of Government Affairs and Contract Lobbyist Richard Phillips as they update us with our work ongoing at the State Capitol.

Also, keep up to date with OAR’s Bill Tracker and other info on the Government Affairs section of okrealtors.com.


 

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Have you registered for OwnOK yet? This popular event sold out last year, so register now and join REALTORS®, mortgage bankers, homebuilders, Oklahoma Employees Credit Union, title company and other related real estate industry leaders at OwnOK​ April 6!

OWNOK EVENT

You Have Just a Short Drive to Excellence!

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If you’re within an hour’s drive of Oklahoma City, you have an extraordinary shot of rubbing elbows with REALTOR® leaders known nationally! Even NAR immediate past president Chris Polychron will be there! This is next weekend, folks! Now, if you’ve already registered, CONGRATULATIONS! Please forward this to your colleagues—they’ll thank you for it.

Besides the awesome networking time you get with some of the country’s most influential thought leaders, we have an exciting line up of speakers who’ll shake things up and get you thinking way into the future!

Here are several examples:

region-9-tom-morrison-orange-circleTOM MORRISON

Tom will be showing us how companies like Airbnb and Uber have disrupted those industries. What’s next for real estate? You better be ready! And after Tom’s keynote session, you will be thinking how you’ll adapt your business in the future.

 

region-9-nobu-hata-orange-circle region-9-patrick-kitano-orange-circleNOBU HATA and PATRICK KITANO

Wouldn’t you love to be the talk of the town? These visionary media experts will show you how to make connections to prospective business by making your messages go viral.

 

See the whole lineup and register now!

CONFERENCE PAGE

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NWOAR Announces Benefit Golf Tournament

NWOAR Benefit Golf Tournament
Friday, May 6, 2016
Pheasant Run Golf Course
$75 per player
Registration 11:00 a.m. – noon
Shot-gun start at 1:00 p.m.
Steak Dinner when you come in.

Benefactor is Brynda Row of Covington, OK.
She was diagnosed with brain cancer. Her husband, who was raised in Enid, lost his job.
They have 4 school age children.

Join us for a FUN day and help a family out who is in need.
Contact NWOAR @ 580-242-1670 or nwoar@fullnet.net

DOWNLOAD FLIER

Those Early Birds Are Gone Tomorrow!

Save 10% by registering for next week’s GRI 102 BY MIDNIGHT TONIGHT!

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Or risk seeing that early bird discount fly away.

This module brings national tax expert Chris Bird for a full day of tax tips for your clients AND you. Also the latest in financing and some “resi-mercial” info to make you a well-rounded professional. If you’re a provisional licensee, check the rules below to see if this goes toward your post-license education requirement!

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Day One

  • Real Estate Investment and Taxation for the Real Estate Agent — (6 Elective CE: TAX)

Day Two

  • Financing Techniques — (4 Elective CE: FIN)
  • Resi-mercial Basics & Property Management — (4 Elective CE: PMG)

Provisional Sales Associates:

If you began your post-license education through the Oklahoma REALTOR® Institute after November 1, 2015, GRI Modules 201, 202 and 302 taken in any sequence satisfy your OREC post-license education requirement. If you began prior to November 1, 2015, any four GRI Modules satisfy the requirement. Questions? Email Melissa or call 405.848.9944 for help!

March 2-3, 2016
8:30a-5:00p
Oklahoma REALTOR® Building | OKC
$218 ($195 Early Bird through Feb 24)

REGISTER NOW

OwnOK Discount for GRI Designees!

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There are numerous benefits of earning your GRI designation—higher earning power, enhanced professional image, increased expertise, expanded referral network, and the list goes on

OAR offers an added benefit to GRI designees!

As a GRI designee, you realize the value of advanced training and networking with other professionals. This substantial discount is a “thank you” for the investment you’ve made in your professional career.

Click below to visit the OwnOK conference page and see all the extraordinary speakers and sessions lined up (be sure to use this special link to receive your discount!)
And see just how smart you are for paying 25% less!

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OWNOK PAGE

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2017 NAR Committee Application Process Begins March 7

There’s an important change that will be implemented for the 2017 NAR committee appointment process, which opens March 7. The committee appointment process has been changed from a recommendation process to an application process.

You are invited to watch this two-minute video of 2016 NAR President-Elect Bill Brown and 2016 NAR First Vice President Elizabeth Mendenhall discussing the more streamlined, efficient committee appointment process for 2017.

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Serving on an NAR committee is an excellent way to meet influential REALTORS® from around the country, build your referral base, be involved in the direction of your industry association, and grow professionally.

The online committee application form on REALTOR.org opens March 7. Please read the important information regarding the committee recommendation process in the timeline link below:

COMMITTEE SELECTION TIMELINE   NAR COMMITTEES

OAR 2015 Annual Report Video Marks Year of Continued Growth

oar-2015-annual-report-screenshotThe OAR 2015 Annual Report was previewed today at the OAR Board of Directors meeting in Oklahoma City.

The video captures the energy and momentum that made up a terrific year. Board members were enthusiastic about the report and eager to share with their colleagues when they return home.

Here you’ll see Lisa Noon, OAR Chief Executive Officer, tell some about various high points of the year. Among many others, they include political advocacy, community outreach and education.

We think you’ll agree this video annual report showcases OAR’s 2015 year in review succinctly and beautifully! You’re encouraged to share with your colleagues and other interested stakeholders in the organization.

For a comprehensive list of highlights of the year, visit okrealtors.com/2015.

Oklahoma Real Estate Industry Conference April 6

Various sectors of Oklahoma’s real estate industry will gather for the second annual OwnOK Conference in Oklahoma City April 6.

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Last year, more than 400 industry professionals—including REALTORS®, mortgage lenders, title and closing professionals, and other affiliated leaders—met together at the landmark Petroleum Club in Downtown Oklahoma City. To accommodate a larger audience, the new Embassy Suites Oklahoma City Downtown/Medical Center has been chosen for the location of the 2016 conference.

OAR President Chuck Harris said, “This is such an extraordinary opportunity for some of the most influential members from all over the real estate industry to come together in one place.” OwnOK is the only event of its kind, drawing high interest to see and hear national-caliber speakers with wide appeal.

“Seldom do all these people have the chance to learn together and network with the diversity of these fields of practice,” Harris continued. “The speakers talk about laws, politics, economics and inspiration to enrich Oklahoma’s real estate professionals.”

ownok-jc-wattsThis year’s program will be kicked off by former Oklahoma Congressman J.C. Watts, who’s now President and CEO of Feed The Children. He will share about his political and professional careers.

Gerald Howard, CEO of the National Home Builders Association will talk about the housing market roller coaster. Washington D.C. area attorney Ari Karen will cover some important federal regulatory issues. Being a presidential election year, columnist and television political news pundit A.B. Stoddard will offer expert analysis and scrutiny of the current political landscape.

realtor-day-at-the-capitol-group-southThe afternoon will comprise of members of the various real estate organizations collecting at the State Capitol to visit legislators. The Oklahoma Association of REALTORS® will host their annual Ice Cream Social on the 4th Floor Rotunda at 3:00. At 5:30, the groups will host a legislative reception at the Oklahoma History Center overlooking the capitol dome.

For more information about the day’s events, log on to okrealtors.com/ownok.

NAR President: “I Like Where We’re Headed”

National Association of REALTORS® President Tom Salomone told Nerd Wallet in a recent interview that there’s a clear road ahead that is balanced and fair for buyers and sellers, but it will take some time to get there.

“We don’t want these big peaks and valleys we’ve seen since the downturn,” Salomone told the personal finance blog. “Steady, sustainable growth is what we’re after.”Tom Salomone

Salomone’s statements echo comments he made in a recent op-ed, also submitted to Nerd Wallet, on what he sees ahead for real estate in 2016.

Among the bits of good news for consumers, Salomone pointed to low interest rates, low down payment programs, additional job creation in the broader economy and lower mortgage insurance premiums from the Federal Housing Administration.

These bright spots in the industry indicate a “mostly smooth road” ahead for buyers, but Salomone urged caution since plenty of challenges remain.

Salomone pointed to high rents and student debt as impediments to saving for a down payment. He also noted that tight supply and rising home prices present additional costs and challenges for buyers.

To navigate around those trouble spots, Salomone suggested that potential buyers and sellers look for expert advice from a REALTOR®.

“While it’s too early to say exactly what’s down the road in 2016, it’s never too early to start planning your route,” he said.

Source: NAR Newsline

Region 9 Conference Guides Change for Us

region-9-joe-pryor-orange-circleSenator Robert Kennedy in a speech in Cape Town, South Africa, used the apocryphal proverb, “May you live in interesting times.”

In this Internet Age of the 21st Century, we certainly do live in interesting times! Industries have been turned upside down by innovation, opportunity, and unfettered entrepreneurship. But for those who adjust, adapt and improve, we can do even better than before.

Online companies dominate the travel industry, yet travel agents still exist and are more profitable than ever. More than 100,000 people in the banking business lost their jobs to technology last year, yet a new brand of banker exists and thrives. Companies like Legal Shield and Legal Zoom offer many of the services that lawyers used to provide, but when serious problems arise, we search for the best.

Uber is worth billions although it owns no vehicles. AirBnB is worth billions and it owns no rooms. And Facebook is worth hundreds of billions and it creates none of its own content.

As Dylan sang in The Times They Are A-Changin’, “You better start swimmin’ or you’ll sink like a stone.” One constant in all of this change is that the strong survive. Those who pursue excellence in a dogged fashion do even better. And leaders emerge to inspire us, move us emotionally, and issue calls to action for us to participate in and create a better world.

We in Region 9 have those leaders who understand that it is not the case where great power requires great responsibility. Instead we understand it is the reverse: great responsibility builds great power.

The Region 9 Conference in Oklahoma City March 6-7 will attract those who exhibit a great responsibility that benefits the public we serve, and the associations and institutions that must remain strong in an ever-changing landscape.

You will be challenged to open your minds. Challenge the conventional wisdom, and test the tenets of real estate to make sure we preserve what is always true and right. And then change things that need to be changed.

During those two days, we will be asked, “What is your Uber?” How can you follow the lead of those who have given so much to our associations while still maintain thriving businesses? How can we take vital messages to the public and make them viral?

chris-polychron-joe-pryor-david-momper-conferenceWe are going to ask you to envision a future that may be shocking but also exciting. We will challenge you as entrepreneurs to accept no limits when the cause is right, to take away great information, and give it meaning.

You need to be there, because like NAR’s Region 9, you are special! You are making a difference and will continue to do so.

Let’s get started. Register NOW!

READ MORE DOWNLOAD FLIER

VIDEO: Feb 1 Capitol Insider

Budget discussions will be the major focus at the Capitol this spring, but OAR has some other interests as we begin the 2016 legislative session. In this video, you’ll get some insight into the work OAR VP of Government Affairs and Contract Lobbyist Richard Phillips will be accomplishing at the State Capitol.

Stay up to date with the activities OAR is involved in and the progress of legislation on the Government Affairs section of okrealtors.com.

Voter Registration Deadline February 5

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This election season is full of intrigue and also some entertainment. But it’s also very serious business. If you want to have a say on who’ll be on the November ballots, this is your chance to mark the box for your candidate.

Now more than ever, it is critical for REALTORS® across the country to come together and speak with one voice about the stability a sound and dynamic real estate market brings to our communities. From city hall to the State Capitol to Washington, D.C., our elected officials are making decisions that have a huge impact on the bottom line of REALTORS® and their customers.

DO YOU KNOW HOW IMPORTANT YOUR VOTE IS?

  • There are just under 2 million registered voters in Oklahoma*
  • Only 49.2%** of Oklahoma’s voting-eligible population voted in the last federal election
  • In 2012, Oklahoma had the THIRD LOWEST voter turnout rate in the nation***

It is your duty as an active member of your community to be sure that you are registered to vote.

February 5 is the Deadline to Register for the March 1 Presidential Primary!

Do you need to register or update your registration? Click the button below, fill out the form and send it to the Oklahoma State Election Board.

VOTER REGISTRATION

 

*According to the Oklahoma State Election Board
**Statistic provided by United States Elections Project
***According to okvoterchoice.org

Regional Conference Accessible to All Oklahoma REALTORS®!

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This year, the Region IX Conference is hosted by NAR Regional Vice President Joe Pryor and is taking place in Oklahoma City!

March 6-7, 2016

This is your chance to meet some of the most influential REALTORS® and thought leaders in the country.

  • NAR leaders
  • OAR leaders
  • Social media authorities Nobu Hata and Patrick Kitano
  • Innovator & business strategist Alex Charfen
  • Stewart Title Chief Economist Ted Jones
  • Marketing architect & PipelineROI CEO Dustin Moore
  • Leadership & association champion Tom Morrison

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You’ll learn the most important trends in the industry and the importance of adapting in Uber fashion!

Network with prominent REALTORS® from many different markets who’ll breathe new life into your business!

Plenty of fun built in too. Click on the box below to see more info and save your spot!

REGION IX CONFERENCE

Embassy Suites Oklahoma City Downtown/Medical Center
741 N Phillips Ave
Oklahoma City, OK 73104

2016 Oklahoma Real Estate Predictions

Looking ahead at Oklahoma’s stable real estate growth

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In 2016, the Oklahoma real estate market is primed for continued steady growth. Throughout last year, Oklahoma experienced a seller’s market due to the low inventory and a large amount of buyers. The Oklahoma Association of REALTORS® (OAR) expects these trends to continue into 2016 due to increased demand for existing and new homes, low inventory and continued low mortgage rates – all of which will encourage homeownership.

Chuck Harris“In 2015, Oklahoma encountered a two percent increase of home sales from 2014, and can continue to expect steady growth in 2016,” said President of the Oklahoma Association of REALTORS®, Chuck Harris. “Oklahomans can look forward to a rise in appreciation and renewed interest in homeownership in part due to continued demand for homes and low mortgage rates.”

Homeowners, sellers and potential buyers can anticipate the following in 2016 for the Oklahoma real estate market:

  • Stable mortgage rates. At the end of 2015, the Federal Reserve increased interest rates by .25 percent. This will impact short-term loans such as car loans, but homebuyers and sellers do not need to be concerned about a big impact on mortgage rates.
  • Continued increase in millennial first-time homebuyers. The millennial generation makes up 32 percent of homebuyers, is 68 percent of first-time homebuyers and will continue to make an investment in real estate.  Oklahoma’s traditionally strong and diverse economy has given millennials greater buying power and they will continue to be a driving force in home buying.
  • Steady growth. Oklahomans can expect a steady pace of growth as demand remains high for new and existing homes and as new construction remains tempered. Oklahomans can anticipate housing prices to slightly increase in 2016, but remain affordable as this continues.

“While our state combated some economic concerns in 2015, the demand remained strong,” said Harris. “The key in the 2016 real estate market is to remain aware of outside influences, continue to be realistic regarding pricing and consult with a REALTOR® who can help guide you in this market.”

Free 3 Month Taxbot Subscription Offered to OAR Members

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For a limited time only, Taxbot is giving OAR members a chance to try Taxbot for a full 3 months… without a credit card or obligation. This offer is for new Taxbot customers only.

We think that once you have a chance to try things like automatic mileage tracking, digital receipt storage, and their AuditSafe™ reports that you’ll be hooked. So click below to start your free 3 month subscription today.

TRY TAXBOT

Single Mom with 4 Year Old Needs Your Help

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scott-hines-kfor-in-your-cornerOAR was contacted by Scott Hines of KFOR In Your Corner today about a single mom and her precious four-year-old son they’ve been working with. Scott’s team has helped them get out of their Section 8 lease because of issues over delayed repairs and dangerous conditions from a large tree that fell on their car and and home following a recent ice storm. KFOR found someone to remove the tree and worked with the landlord and Section 8 to release the family from the lease.

Now they need a new home!

If you know of safe places that are Section 8 approved, please let us know! If you know a property management company you’d recommend, please pass along their contact info. If you or someone you know has Section 8 rental property with availability, please let us know. They’re open to anywhere in the OKC metro and surrounding areas.

Scott Hines says, “This young family has so much potential. I’m intending that they find a safe place to go.” We reassured him Oklahoma REALTORS® can do the job. Oklahoma REALTORS® are individuals with giving hearts, and we know this family can be helped with your generosity.

EMAIL SCOTT HINES | KFOR  EMAIL STEVE REESE | OAR

Please click below to SHARE and help this family!

1031 Exchanges Needed for Economic Health

Congress passed a tax extenders bill in December that included a number of victories for REALTORS®, but when it comes to tax policy and real estate, there’s still plenty to talk about.

chris-polychronNAR 2016 Immediate Past President Chris Polychron took on a big tax issue this month with an op-ed supporting 1031 like-kind exchanges. The piece addresses the ongoing need for 1031 Exchanges and reminds readers of their importance in supporting a range of real estate transactions.

Survey data released in 2015 showed that 63 percent of REALTORS® participated in a like-kind exchange between 2011 and 2015, but they were far from the only beneficiaries of like-kind exchanges.

NAR’s survey also found that 1031 Exchanges in which REALTORS® participated resulted in the creation of 10 to 35 new jobs, in large measure due to spending on building improvements following the acquisition.

That means 1031 exchanges aren’t simply good for REALTORS®; they’re good for the broader economy as well.

Ready to dig in? Read Chris Polychron’s op-ed in the commercial edition of this month’s Scotsman Guide. For more information, NAR also offers a field guide on 1031 like-kind exchanges that’s full of good information. Click on the button below.

NAR FIELD GUIDE TO 1031 EXCHANGES

Source: NAR Newsline

Storage Solutions for Post-Holiday Organization

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It’s not uncommon to feel the blues after the holidays—friends and family have left, decorations have come down, gifts have been given and unwrapped, and everyone goes back to the weekly grind. One way to get out of the post-holiday slump is to get your home organized for 2016. After all, those new gifts will need somewhere to go!

To assist in your organizing venture, the National Association of REALTORS®’ consumer website HouseLogic has you covered. HouseLogic examines some organizing tips from New Yorkers, who know how to make due in tight spaces. Some of those expert tips include utilizing space vertically, giving your doors a second purpose by using them to hold items, blending your belongings into the actual design of the home and avoiding utilizing closets to force yourself to pare down on what you actually need.

 

Read HouseLogic’s tips linked below for a more organized home through the New Year. Talk to a local REALTOR® to get other tips on how to organize an abode to get the most out of the space you have.

HOUSELOGIC TIPS

 

WATCH: Lawrence Yun Live on C-SPAN This Sunday Morning

Get a jump start on the first full week of 2016 by tuning in to NAR chief economist Lawrence Yun’s latest live appearance this Sunday morning on C-SPAN’s Washington Journal.

Yun will be discussing the overall state of the housing market heading into 2016 with Sunday host Steve Scully. During the 45-minute segment beginning at 7:30 a.m. CST, Yun will also answer viewer questions coming in by phone and social media.

Tune in or set your DVR. And in the meantime, click on the video below to watch Yun’s last appearance back in June.

Source: NAR Newsline

January 1 Begins New zipForm® Benefit for All Members

In 2016, the National Association of REALTORS®, in partnership with zipLogix, will be providing NAR members zipForm® Plus and zipTMS™ as a member benefit – at no cost.

What does this mean for you?

Starting January 1, 2016, as a REALTOR® member, you will have access to zipForm® Plus and the industry standard in the transaction management systems: zipTMS™. No action will be required of Oklahoma REALTORS® as the Oklahoma forms are already set up. If you are not an existing zipForm® user, you will most likely be required to set up a new account

EXISTING USERS NEW USERS

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ZIPFORM NAR BENEFIT

OAR Made Great Achievements in 2015!

OAR has achieved greater heights in 2015, including the areas of legislative advocacy, member outreach, technology and public relations.

rpac-presidents-cupOf paramount importance was creating a stronger RPAC culture, which is evident in Oklahoma achieving President’s Cup status for the first time ever! The President’s Cup recognizes the hard work state REALTOR® leaders and association staff perform to advance the REALTOR® Party. The President’s Cup will be presented in May 2016 at the REALTORS® Legislative Meeting and Trade Expo in Washington, DC!

Among the successes in the State Legislature were fighting threats to overturn the Protect Property Rights Act of 2014. Our lobbying efforts combined with member involvement in The REALTOR® Party continue to hold the attention of our hardworking Oklahoma legislators.

2015-brokers-summit-nobu-hata-broker-profitability-digital-ageBetween continued work among OAR’s district vice presidents and creating a member outreach position on staff, OAR has tightened the bond among brokerages, local boards and the state association. The number of brokers signed up for the Broker Involvement Program has gone up 28%, meaning more effective messaging on calls for action are being received by members around the state. Plus another successful Brokers Summit held in November was an active forum for brokers to learn more about managing teams within their companies, seeing an intro to the RPR broker dashboard and then finding ways to be more profitable in the digital age.

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Oklahoma REALTORS® seeking the GRI designation have been so plentiful that modules have been selling out this year. The blend of sharp statewide experts and varied perspectives from national speakers build great excitement during these two-day sessions!

featured-image-download-okrealtors-mobile-appThis year we launched an instructor rating website. It will be a vehicle for local boards, schools and brokers to identify content experts who are available to teach in their area plus allow students to publish feedback to help make hiring decisions. In conjunction with the REignite education conference & trade show in October, we pushed out a new mobile app, making the most needed items and news alerts available more quickly. Local board implementation of a text messaging component is next.

In the area of public relations, OAR has had 137 media placements in the first 11 months of 2015, with a total audience reach of more than 98.2 MILLION, increasing the positive perception of Oklahoma REALTORS.

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SEE THE WHOLE 2015 LIST

Top 5 Oklahoma Real Estate Trends from 2015 Revealed

The most impactful real estate trends from 2015 may empower homeowners in 2016

The state’s homebuyers, homeowners and real estate professionals experienced a big year in 2015 marked by positive growth in many areas. Influential trends affected a variety of dimensions for Oklahomans from interior style to shifting market conditions. OAR is sharing the year’s most relevant developments as a useful overview to empower consumers as we transition into a new year.

“The numerous real estate changes across Oklahoma can overwhelm and confuse even the most seasoned homebuyers and sellers,” said OAR 2015 President Kacy Bell. “That’s why we want to help Oklahomans understand the past year’s biggest takeaways, so they may maximize the value of their homes as we enter into 2016.”

Homeowners can learn from these notable real estate trends from the past year:

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  • Transitional decor.
    This style has gained momentum by striking a clean, bright compromise between traditional and contemporary décor. The minimalist approach to home decorating balances comfort with formal elegance, utilizing white and gray color schemes. Homeowners can borrow cues from transitional décor to add appealing touches to their home’s living spaces for peak effect.
  • featured-image-homebuyers-coupleEducated buyers.
    Today’s homebuyers increasingly use a variety of online resources to educate themselves about the real estate market and compare their choices. Educated buyers understand interest rates, comparable home prices, the loan process and inspections. Oklahoma home sellers should prepare to answer savvy and direct questions from prospective buyers.
  • Low inventory and multiple offers.
    Oklahoma’s residential housing market has consistently favored home sellers this year since homebuyers outnumbered the supply of houses available to purchase in many communities. As a result, hopeful homebuyers must often compete against multiple offers for the same home — requiring a strong first offer catering to seller preferences.
  • Contract changes.
    A November change to Oklahoma real estate purchase contracts removed a longstanding requirement called the Treatments, Repairs and Replacements Cap that set a maximum amount home sellers agreed to spend on post-inspection repairs. For today’s home sellers and buyers, the inspection will precede negotiating the repairs budget to remove guesswork and concentrate on more substantial issues.
  • Increase in Millennial buyers.
    Oklahoma Realtors expect home purchases by millennials to continue to rise with an estimated 46 percent buying their first home in the next one to two years. Low mortgage rates, a reasonable cost of living and a diverse economy all contribute to an expected increase in first-time millennial homebuyers across the state.

Kacy Bell“Taking time to understand the current real estate climate and adjusting accordingly will go a long way to help Oklahomans ensure their next transaction goes smoothly,” said Bell. “But when in doubt, consult the professionals who are daily engrained in the details of residential real estate and passionate about guiding their clients through one of the biggest decisions they may make in their lifetime.”

GRI 302 Sold Out!

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Another GRI module has sold out! GRI 302 scheduled for January 6-7 has sold to capacity and is now on a waitlist status.

If you have not registered and wish to attend, please email Susan with your contact information so you may be placed on the waiting list. Only at the point student cancellations allow us to move you the active registration list will your credit card will be charged. If you have any questions, please call (405) 848.9944 or email us.

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VISIT GRI PAGE

Be the First to Hear About REALTOR® Party Alerts

We know as a REALTOR®, you’re interested in protecting, defending and promoting the American Dream of homeownership. You can also be the first to hear about federal issues that need our attention.

featured-image-text-realtor-party-mobile-alertsSign up for NAR alerts by text message! NAR will send you short text messages (only 3-5 per year) when our help is needed. It’s not a Call for Action but a quick way to alert you to an impending Call for Action or to connect you with your Member of Congress for an quick message to relay vital information to him or her.

Members of Congress want to hear from experts on complex business legislation like real estate. Your participation in NAR’s Calls for Action is absolutely critical to our success and their understanding.

We have shown what a powerful force REALTORS® can be when we advocate as a unified REALTOR® Party. Just this month, the President signed into law a transportation bill that was threatened to include Fannie Mae and Freddie Mac guarantee fees (g-fees). The response from REALTORS® like you around the country kept g-fees—and added mortgage costs—out of the bill.

When their constituents speak up, it is difficult for lawmakers to ignore. Text REALTORS to 30644 right now!

10 Christmas Light Tips to Save Time, Money, and (Possibly) Your Life

By: Lisa Kaplan Gordon

Here’s how to light up your Christmas light display safely and economically.

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Christmas lights can be modest displays to show good cheer, or million-bulb light-apaloozas that draw gawkers from near and far. Here are some tips on how to get the most from—and spend the least on—your holiday display.

Safety first

Emergency rooms are filled with homeowners who lose fights with their holiday lights and fall off ladders or suffer electric shocks. To avoid the holiday black and blues, never hang lights solo; instead, work with a partner who holds the ladder. Also, avoid climbing on roofs after rain or snow.

Unpack carefully

Lights break and glass cuts. So unpack your lights gingerly, looking for and replacing broken bulbs along the way.

Extension cords are your friends

Splurge on heavy-duty extension cords that are UL-listed for outdoor use. To avoid overloading, only link five strings of lights together before plugging into an extension cord.

LEDs cost less to light

LED Christmas lights use roughly 70% to 90% less energy and last up to 10 times longer than incandescent bulbs. You can safely connect many more LED light strings than incandescents. Downside: Some think they don’t burn as brightly as incandescent bulbs.

Solar lights cost nothing to run

Solar Christmas lights are roughly four times more expensive to buy than LEDs, but they cost zero to run. They’re a bright-burning, green alternative. Downside: If there’s no sun during the day, there’s no light at night. The jury’s also still out on how long they last; they’re too new on the market for results.

Dismantle lights sooner than later

Sun, wind, rain, and snow all take their toll on Christmas lights. To extend the life of lights, take them down immediately after the holidays. The longer you leave the up, the sooner you’ll have to replace them.

Plan next year’s display on Dec. 26

Shop the after-Christmas sales to get the best prices on lights and blowups that you can proudly display next year. Stock up on your favorite lights so you’ll have spares when you need them (and after they’re discontinued).

Permanent attachments save time

If you know you’ll always hang lights from eaves, install permanent light clips ($13 for 75 clips) that will save you hanging time each year. You’ll get a couple/three years out of the clips before sun eats the plastic.

Find those blueprints

Instead of guessing how many light strings you’ll need, or measuring with a tape, dig up your house blueprints or house location drawings (probably with your closing papers) and use those measurements as a guide.

Store them in a ball

It sounds counterintuitive, but the best way to store lights is to ball them up. Wrap five times in one direction, then turn the ball 90 degrees and repeat. Store your light balls in cardboard boxes, rather than in plastic bags: Cardboard absorbs residual moisture and extends the life of your lights.

Visit HouseLogic.com for more articles like this. Reprinted from HouseLogic.com with permission of the NATIONAL ASSOCIATION OF REALTORS®.

Follow HouseLogic: @HouseLogic on Twitter | HouseLogic on Facebook

President Obama Signs Transportation Bill

On December 8, President Obama signed into law the Fixing America’s Surface Transportation Act (FAST Act), WITHOUT using G-Fees as a financing mechanism. The funding is designed to expand highways, bridges and transit systems across the nation over the next five years.

The REALTORS® Call for Action proved to have a significant impact keeping Fannie Mae and Freddie Mac guarantee fees (g-fees) out. The more than 197,000 REALTORS® are to be thanked for participating in this call for action. In Oklahoma, more than 28% took action. Once again, WE made a difference!

Nationwide, more than 20% of REALTORS responded to the Call for Action. In Oklahoma, more than 28% took action!

Nationwide, more than 20% of REALTORS responded to the Call for Action.
In Oklahoma, more than 28% took action!

NAR Report: Homeowners Reap Remodeling Benefits Whether Selling or Staying

kitchen remodel

Homeowners preparing to sell often make improvements, both big and small, to their homes that can help yield positive results and garner top dollar from buyers. According to a new report from the National Association of REALTORS® (NAR), remodeling projects can also bring major benefits to homeowners who choose to remain in their homes.

“REALTORS® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home,” said NAR President Tom Salomone, of Coral Springs, Florida. “But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, REALTORS® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner’s impression of their current place.”

According to NAR’s 2015 Remodeling Impact Report, which uncovers the reasons homeowners choose a remodel and the increased happiness certain projects bring once completed, 64 percent have experienced increased enjoyment in their home after completing a remodeling project. Additionally, 75 percent of respondents said they felt a major sense of accomplishment when thinking of their completed project. Fifty-four percent of respondents felt happy about the changes to their home, and 40 percent felt satisfied. As for their reasons to complete a remodeling project, 38 percent of homeowners said they wanted to upgrade worn-out surfaces, finishes and materials; 17 percent wanted to add features and improve livability; and 13 percent believed it was time for a change.

REALTORS® named kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring as the interior projects that most appeal to potential buyers. Similarly, REALTORS® also ranked projects based on expected value at resale (without accounting for project price); the projects that ranked the highest in this category were complete kitchen renovations, kitchen upgrades, bathroom renovations and the addition of a bathroom.

When looking at the interior projects that yield the biggest financial results upon resale, REALTORS® ranked hardwood flooring refinishes (100 percent of project cost recovered upon resale), insulation upgrades (95 percent recovered), new wood flooring (91 percent recovered), and converting a basement to a living area (69 percent recovered) as projects to consider.

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Exterior projects are also important for both sellers and homeowners looking to increase satisfaction with their current home. REALTORS® said new roofing, new vinyl windows, new garage doors and new vinyl siding are most appealing to potential buyers and are highly valued upon resale (both considering project price and disregarding project price). Upon resale, REALTORS® said new roofing would recover 105 percent of its project cost, a new garage door would recover 87 percent, new vinyl siding would recover 83 percent, and new vinyl windows would bring back 80 percent of their cost. As for exterior projects that bring the most happiness for those not necessarily intending to sell, homeowners said new fiber-cement siding, new fiberglass or steel front doors, new roofing, and new garage doors brought the most satisfaction.

The 2015 Remodeling Impact Report, the first of its kind from NAR that examines personal satisfaction from remodeling projects, surveyed REALTORS®, consumers who have completed their own remodeling projects, and members of the National Association of the Remodeling Industry.

“Remodeling projects can greatly improve both the value of and satisfaction with one’s home, which are great things no matter the reason for a project,” said Judy Mozen, president of the National Association of the Remodeling Industry. “This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.”

Salomone said the report not only assists homeowners who are preparing to sell in choosing the best projects to attract buyers, but it also helps those looking to get more personal satisfaction out of their homes. “REALTORS® know that remodeling projects aren’t just done to get more money for a home once it’s time to sell – a home is your sanctuary, the place you raise your family and where you make lifelong memories, which is why the report can also help consumers decide which projects could enhance their current quality of life and happiness,” he said.

2015 Remodeling Impact Report

 

Negotiating Home Repairs Without Unreliable Expectations

Tips for Oklahomans on adjusting to residential real estate contracts without the TRR cap

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Oklahoma real estate regulations and contract requirements change frequently, and the Oklahoma Association of REALTORS® (OAR) encourages Oklahomans to work with local Realtors to stay on top of the changes, including the recent revision to how home repairs are negotiated during the home sale.

Experienced homebuyers and sellers in Oklahoma are likely familiar with the Treatments, Repairs and Replacements Cap (or TRR Cap), which was part of the initial offer on the house that specified the maximum amount the seller would invest in repairs once the home inspection was complete. As of Nov. 1, 2015, the TRR Cap has been removed from all Oklahoma contracts.

“When you boil it down, all that’s happening is we’re removing the expectations of both parties on what repairs may be needed before anyone has officially evaluated the home,” said Kacy Bell, OAR president. “The home repair negotiations will now take place after the inspection when we can speak intelligently and accurately about the repairs instead of playing a guessing game upfront.”

OAR offers tips for buyers and sellers on how to adapt to this new way of negotiating home repairs:

  • For Buyers – No home is perfect. The key is to anticipate imperfections when you enter into a purchase offer and be reasonable about the repairs you request. Focus on major items like roof damage, termite damage and electrical, mechanical and plumbing. Don’t waste resources nitpicking small or purely cosmetic matters when there may be bigger concerns to tackle. Your Realtor can help you separate the needs from the nice-to-haves and help you navigate the complexities.
  • For Sellers – Prepare for the worst and hope for the best. No one wants to learn they have to make a big, unexpected investment in their home, and especially not when they’re about to move out. But once a major issue is uncovered in an inspection, it must be disclosed in the next transaction. Consult with your Realtor to determine whether you’ll need to make the repair to sell the home and decide the best course of action from there. If your home isn’t on the market yet, consider doing a pre-sale inspection first so there are fewer surprises throughout the process.

“As in all negotiations, the best rules of thumb for this new way of home buying and selling are to keep a level head, treat the other party as you would want to be treated and have a knowledgeable Realtor at your side acting in your best interest,” said Bell.

G-Fee Taken Out of Transportation Bill in Conference Committee

Congressional leaders this week released the conference report for a multi-year surface transportation bill, a significant step forward as the bill works toward passage.

featured-image-tom-salomone-nar-presidentNational Association of REALTORS® President Tom Salomone, of Coral Springs, Florida, applauded the bill. In particular, Salomone singled out the decision to exclude the use of guarantee fees from Fannie Mae and Freddie Mac to pay for the measure.

“This legislation recognizes the value of homeownership and the need to protect future homeowners from unnecessary costs,” said Salomone. “NAR applauds the conference committee for standing with the homeowners of today and tomorrow.”

The bill funds major highway and transit-related projects through a variety of funding sources. In addition, provisions related to alternative transportation were included to promote safety and stronger communities.

“NAR is pleased at the emphasis placed on safety and alternative transportation options to strengthen neighborhoods, improve property values and make non-motorized transportation, like sidewalks and bike lanes, a priority,” said Salomone.

Congress is expected to vote on the conference report by December 4, the date when the current transportation authorization expires.

Source: NAR Newsline

OREC Answers Questions on New Contracts and Forms

New Oklahoma Real Estate Commission Contracts and Forms were released on November 1. While the response to changes on these forms has been overwhelmingly positive, the Oklahoma Real Estate Commission has received several questions they’d like to clarify for Oklahoma licensees. This special edition of Commission Comments will answer these questions. Remember, the Residential Property Condition Disclosure Form is required by law, and the new form must be used for any residential property subject to the Residential Property Condition Disclosure Act listed after November 1. Otherwise, all of the OREC contracts and forms, including the new Listing Agreement, are optional. Your broker and/or local board/association of REALTORS® may have a different listing agreement you can use.

What is the “entity” number?


The entity number, which is listed on the bottom of the residential sales contract, is the office where the associate’s license is held. Listing the entity number on the contract is not a requirement in our Code & Rules; however it is a TRID (TILA-RESPA Integrated Disclosure) requirement.

Why was the repair cap removed?


The repair cap language was removed from the residential sales contract as a result of an industry request, as some licensees felt removing the cap would help in the negotiation process. The current Treatments, Repairs, Replacements and Reviews paragraph states that the seller and buyer should negotiate the TRR items, specifically which items should be repaired, without a specific dollar amount. If a written agreement is not reached within the time as stated in the contract, the contract shall terminate and the earnest money should be returned to the buyer.

What is a floodway?


A new question (Question #4) on the Residential Property Condition Disclosure Form is “What is the floodway status of the property?” This question is important because floodway status may impact a property owner’s ability to rebuild if the property is destroyed in a natural disaster. “Floodway” is defined statutorily in the Oklahoma Floodplain Management Act as “the channel of a stream, watercourse or body of water and those portions of floodplains which are reasonably required to carry and discharge the floodwater or floodflow of any river or stream.” A more common-sense definition provided by the Oklahoma Water Resources Board is the area needed to carry the base flood. Licensees can refer to the interactive map located on the Oklahoma Water Resources Board Web site for more information. Specific addresses can be typed in to show if the property is in a floodplain or a floodway.

Answers to these questions should help you better understand the new Contracts and Forms. As always, the OREC Contract and Forms committee appreciates and welcomes any questions or suggestions you might have – please contact the OREC offices by email or telephone, 405.521.3387.

Selling Your Home During the Holidays

As fall is coming to a close and the holidays are upon us, homebuyers are getting more serious. While there is increased pressure for homeowners to sell their homes during the summer months, winter home sales numbers aren’t far behind because inventory is still low and homebuyers are still plentiful.

“What we have typically seen is buyers in the last two months of the year are more serious about executing an offer,” said Kacy Bell, president of the Oklahoma Association of REALTORS® (OAR). “Buying a home is not just about the age, condition or square footage, it is also about an emotional connection with the home. Placing or keeping your home on the market during this time of year is a great opportunity to really showcase the best features of your home during the holidays for buyers.”

Serious buyers use winter months to find their best fit.

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OAR is offering tips for those homeowners aiming to place or keep their homes on the market during the holidays:

  • Deck the halls. Many buyers make decisions based on emotions, especially during the holidays. Tasteful decorations can help them fall in love with the house. A wreath on the door, a garland on the mantle and sprigs of holly here and there can help buyers envision spending the holidays in the home with their own families in years to come. Just remember not to add so many decorations that the home appears cluttered.
  • Create a welcoming emotion. Warmth and comfort are great selling points. Light a fire in the fireplace, bake some gingerbread and attract potential buyers in from the cold weather so they instantly feel warm and welcome in the home.
  • Be Available. The holidays mean buyers may have additional time off to look for their new home. Even though you may be busy with seasonal festivities, stay committed and don’t turn down showings. Often, people shopping for homes during the holidays are serious buyers who need to make a decision before the end of the year. You don’t want to exclude your home from their list.
  • Remember, it’s a numbers game. Historically, sellers wait out the holidays and put their houses on the market in January, which increases supply and pushes down the asking prices. By selling during the holidays, you will be ahead of the market and may sell your home for more. Then you’ll be set to purchase a new home just when new options are coming onto the market.

OK RPAC Supports Rep. Cyndi Munson

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Representative Cyndi Munson (D), who won the special election for House District 85 this fall, met with staff and representatives from the Oklahoma Association of REALTORS® on Thursday at the Oklahoma REALTOR® Building.

She recently ran a leadership program for the Girl Scouts in Western Oklahoma. OAR member Carolyn Sims will be Rep. Munson’s State Legislative Advocate (SLA) and serve as her initial contact when real estate issues are considered at the State Legislature.

WELCOME REPRESENTATIVE CYNDI MUNSON!

OHFA Housing Summit Spotlight: Get Ready to Raise the Roof!

2016 OHFA Housing Summit

When: April 14, 2016
Where: Moore Norman Technology Center | Business Development Center | South Penn Campus
How much: Early bird $129 through Feb 1

Registration Now Open!

Registration for the OHFA 2016 Oklahoma Housing Summit is now open! The early bird rate of $129 ends February 1. Each registrant receives a full day of breakout sessions, breakfast, lunch, dynamic keynote and luncheon speakers, plus plenty of networking opportunities. Don’t miss it!

REGISTER NOW

With every five paid attendees, the sixth registrant is free! Contact communications@ohfa.org to obtain a special discount code and take advantage of this offer.

Sneak Peek

Keynote Presentation

sgt-noah-galloway-black-jacketThe 2016 Housing Summit kicks off with an energizing keynote presentation from Iraq combat veteran Sergeant Noah Galloway.

A native of Birmingham, Alabama, Sergeant Galloway was assigned to the 1st of the 502nd Infantry of the 101st Airborne Division out of Fort Campbell, Kentucky during Operation Iraqi Freedom. Just three months in to his second tour of duty, he experienced a life changing injury.

On December 19, 2005, Noah Galloway lost his left arm above the elbow and left leg above the knee in an Improvised Explosive Device (IED) attack. He was transported to Germany to receive medical treatment, remaining unconscious for five days. Read more about Noah on the OHFA Housing Summit website.

REGISTER NOW

NAR Board Approves zipForm Plus As New Member Benefit

OVERVIEW | FAQ

The National Association of REALTORS® board of directors today voted to give all NAR members free access to electronic forms and transaction management tools from REALTOR Benefits® Program partner zipLogix.

featured-image-chris-polychron-ziplogix-zipform-plus-nar-member-benefit“The association is committed to making sure REALTORS® have the latest technology tools to succeed in today’s dynamic real estate environment,” said NAR President Chris Polychron, a broker from Hot Springs, Arkansas. “I hope our members take advantage of this new benefit to help them save time and money and better succeed in their business.”

Members will get zipLogix Plus, which includes various forms libraries, as well as zipTMS, the company’s transaction management system with unlimited document storage. In areas where local and state associations license their forms to zipLogix, REALTORS® will also have free access to local and state forms libraries.

Already, more than 600,000 REALTORS® use zipLogix applications, according to the company, which is operated as a joint venture between NAR and Real Estate Business Services (REBS), a subsidiary of the California Association of REALTORS®.  The company offers other products, including mobile touch signatures and broker and team editions that assist with transaction oversight and risk management.

“As a REALTOR® association-owned company, zipLogix is committed to REALTORS®’ success,” said zipLogix Chairman of the Board Mark Peterson. “We look forward to expanding our partnership with NAR and helping facilitate transactions for even more REALTORS® and their clients.”

“In Texas, we have had this as a member benefit for years,” said Ryan Bokros with Realty Associates – The Woodlands, in The Woodlands, Texas. “Obviously, the financial benefit is great as it’s a vital tool to our business. So those who don’t have it as a member benefit now will enjoy this decision.”

The zipLogix member benefit will be available to REALTORS® in early 2016. Members of an association that is currently a zipLogix customer may begin accessing the NAR Member Benefit Program as of 1/01/2016.

Source: REALTOR® Magazine

Infographic: Are There Benefits to Home Staging?

Home staging can impact a buyer’s perception of a home and even persuade him or her to offer more money. Here are a few tips on home staging from National Association of REALTORS®:

  • 96 percent of buyer’s agents say that staging has an effect on at least some buyers.
  • The living room is the room both buyers and sellers agents agree is the most important to stage, followed by the kitchen.
  • 32 percent of agents saw a one to five percent increase in sales price with staged homes.

Home-Staging-Infograph

For more information on the benefits of home staging, check out NAR’s 2015 Profile of Home Staging.

DOWNLOAD INFOGRAPHIC

Source: NAR Newsline

Further Expansion for Housing Expected in 2016

At the 2015 NAR REALTORS® Conference & Expo in San Diego, NAR chief economist Lawrence Yun presented his housing and economic forecast.

What does Yun expect for housing in 2016?

lawrence-yun-realtormag“Sales activity will once again be primarily driven by the ongoing release of more pent-up sellers finally realizing their equity gains and using it towards the down payment on their next home,” he said to a room packed full of thousands of REALTORS®.

According to Yun, one variable to even higher sales will be if supply can keep up enough to keep a lid on prices, especially with mortgage rates on the rise.

Below is Dr. Yun’s complete housing forecast:

Yun-Housing-Forecast

Yun-Economic-Forecast

Source: NAR Newsline

Newly updated: CountySTATS fact sheets for all 77 Oklahoma counties

Source: Oklahoma Policy Institute | okpolicy.org

What are the top employment sectors in your county? What has been your county’s population trend since statehood? How does your county compare for health and educational attainment?

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You can answer these questions and more with Oklahoma Policy Institute’s newly redesigned and updated CountySTATS fact sheets for 2015. These colorful, 2-page fact sheets display key statistics and charts for each of the state’s 77 counties, covering demographics, the economy, education, and health.

For example, you’ll see that:

  • Canadian County has the highest median household income at $63,889;
  • Adair County has the highest share of its population receiving food stamp benefits at 43.9 percent;
  • Payne County has the lowest teen birth rate at 22 births per 1,000;
  • At 10 percent, Oklahoma County ranks 61st in the share of its workforce employed in state and local government.

CountySTATS is an invaluable tool for researchers, educators, economic developers, elected officials, and anyone else looking for a concise understanding of local conditions in Oklahoma.

 

Continue reading >>

Highlights from the 2015 Profile of Home Buyers and Sellers

2015 Profile of Home Buyers and Sellers HighlightsNAR released the 2015 version of its very popular report—the Profile of Home Buyers and Sellers. The 2015 edition continues a long–running series of large national NAR surveys evaluating the demographics, preferences, motivations, plans and experiences of recent homebuyers and sellers; the series dates back to 1981. Results are representative of owner–occupants and do not include investors or vacation homes.

Below are some highlights.

Key Messages

  • The majority of sales activity over the past year came from pent-up sellers taking advantage of rising home values in their neighborhoods and using their equity to trade up or move down.
  • Nearly 90% of all respondents worked with a real estate agent to buy or sell a home; which pushed for-sale-by-owner transactions to their lowest share ever.
  • Although the Internet and digital technology have created several channels for sellers to market their listings to a wider cast of potential buyers, the preference to use a REALTOR® to sell a home has never been stronger.

Buyer Characteristics Highlights

  • The share of first-time buyers declined for the third consecutive year and remained at its lowest point (32%) since 1987 (30%).
  • First-time buyer hurdles: high rents and home prices, scarce new and existing-inventory and tight credit
  • It’s likely younger households with high levels of debt (i.e. student loan debt: median of $25,000) can’t save for a down payment or are delaying buying until they trim their debt levels.
  • A larger share of buyers were married couples (67%) with higher HH income than previous years.
  • Tight credit conditions and having less purchasing power likely caused the decline of single-female buyers to 15% (lowest since 2001)
  • More first-time buyers (64%) said desire to own a home was their primary reason for buying (53% in 2014)

[headline]Home Search Highlights[/headline]

  • Real estate agents remain an integral part of the home search process even as more home buyers use the Internet as the first step of their search (42%).
  • While buyers between the ages of 18-24 were the most likely to use an agent (90%), over 85% of buyers in each of the other age categories also used an agent.
  • With tight inventory conditions and what’s found online sometimes not entirely accurate, buyers are turning to REALTORS® for expert advice and assistance in navigating today’s fast-moving housing market.

Characteristics of Seller Characteristics Highlights

  • 89% of sellers sold their home with an agent.
  • Only 8% were for-sale-by-owner sales – the lowest share ever recorded.
  • Sellers realized a median equity gain of $40,000 ($30,100 in 2014) – a 23% increase (17% last year) over the original purchase price.
  • The median time on the market for recently sold homes remained at four weeks for the second year in a row, again highlighting the persistently low inventory in several markets.
DOWNLOAD INFOGRAPHIC

G-fees Removed from Bill Passed by House Today

The U.S. House of Representatives just voted 363-64 to pass H.R. 22, a 6-year, nearly $340 billion highway and transit bill. The legislation includes an NAR-supported amendment (Reps. Neugebauer (R-TX) & Huizenga (R-MI)), which removes from H.R. 22 an extension of higher Fannie Mae and Freddie Mac guarantee fees (G-fees).

As you may recall, the issue became a threat in July when Senate Majority Leader Mitch McConnell included G-fees as a funding measure for the Senate’s transportation bill. With 15 days left before the government’s authority to spend money from the Highway Trust Fund expires, the House bill must still be reconciled with a similar Senate bill before it can be signed into law.

Check Out What’s Happening at OAR in November

November is a month that traditionally sees a dip in residential sales activity with upcoming holidays, however we think the savviest home sellers will do well to stand out among a smaller list of competing listings. Sellers also have the ability to showcase their homes in a tasteful, holiday-decorated style that will make homebuyers think of times when their family is around and fall in love.

For OAR, November has a couple exciting events early in the month you’ll want to be sure to know about now! Plus other announcements you need to check out are on the horizon. Great events, news and information are always coming from the Oklahoma Association of REALTORS®. We want you to be a part of them!

Also a little bonus for the start of the month—an extra hour of sleep! Don’t forget to set back your clocks Saturday night, Oct. 31!

Health Insurance Open Enrollment Begins November 1

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Visit 3000iG.com, to access the new OAR Health Insurance Exchange where you can quote, compare and apply for individual health plans at your convenience. Open enrollment runs from November 1 to January 31, but December 15 is the deadline to guarantee a January 1 effective date.

For details or a more personalized approach, contact a licensed benefit counselor at 405.521.1600 or info@3000ig.com.

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Health Insurance Exchange     Health Reform Update & FAQ

FRIDAY is Brunch with Congressman Russell

Congressman Steve Russell will be in Oklahoma City Friday, November 6 for a Congressional Brunch with Oklahoma REALTORS®. Everyone is encouraged to attend this special occasion!

congressman-steve-russell-and-member-okrealtors-congressional-brunch

This is a perfect opportunity for REALTORS® and association staff to meet Congressman Russell to talk about the biggest issues affecting the real estate industry. Brunch will be from 9:30-11:00a at the Oklahoma REALTOR® Building.

Cost is $15

REGISTER HERE!

Oklahoma REALTOR® Building
9807 N Broadway Ext | Oklahoma City

If you have any questions, please contact Jessica Dietrich by email or by phone, 405.848.9944.

New and Revised Contract Forms Go Into Effect November 1

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The Oklahoma Real Estate commission has revised 15 documents of the uniform purchase contract and related addenda plus added a new listing agreement. These new and revised forms will go into effect Sunday, November 1. The commission has provided all the updated documents to forms providers throughout the state, including zipForm® provided by OAR.

Click here to view the summary of changes. The full list of documents can be found at orec.ok.gov.

Claim and Update Your Realtor.com® Profile Early

new-realtor.com-agent-profiles

As you may know, realtor.com® has been working on new agent profiles with RealRatings™ and a consumer-focused REALTOR® search experience to make sure you look great online and to give buyers and sellers access to reliable agent information on their terms.

Today, they are expanding the beta version of their new experience nationwide to allow agents to view and update their profiles ahead of the launch in a few weeks. To take it for a test ride, just click the “Try our Beta!” button at realtor.com/realestateagents.

new-realtor.com-agent-profiles-try-our-beta

You can learn more about the new experience at realtor.com/welcome/agentprofile. This page also has a link to help you quickly claim and complete your profile, as well as an extensive FAQ and other tools to assist you with member questions.

MLSs and REALTOR® associations play a vital role in the accuracy of agent information on realtor.com®. MLS-provided sold data powers agent profiles with 24 months of transaction history and allows for verification of RealRatings™ and reviews based on the MLS-provided transaction records. MLSs that send sold data to realtor.com® provide a particularly important advantage for buyer’s agents who showcase their professionalism with transaction activity.

You can be among the first to claim and update your profiles if you do it now.

Need assistance? Call 866.665.1738 or email realtorprofile@realtor.com.

2016 GRI Dates Announced

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Plan to be more successful in 2016! The GRI (Graduate, REALTOR® Institute) is a designation that distinguishes you as an industry professional. Plus the education you receive from statewide experts and nationally known trainers gives you a better business perspective on real estate so you can survive and thrive even though the transaction landscape is constantly changing. Whether a rookie REALTOR® or seasoned veteran, you can always improve your craft. Now, shorten your way to success with the GRI!

Mark these 2016 dates in your calendars NOW:

  • January 27-28
    GRI 101
    The Basics of Profitability with Karel Murray
  • March 2-3
    GRI 102
    Real Estate Investment & Taxation, Financing Techniques, Resi-mercial Basics & Property Management
  • April 27-28
    GRI 201
    Code of Ethics, Professional Standards, Risk Management, License Law, Laws of Advertising, Purchase Contracts
  • June 15-16
    GRI 202
    Title Insurance & Pitfalls, Environmental Issues, Inspections, Broker Relationship Act, Brokerage Management, REALTOR® Safety
  • September 21-22
    GRI 301
    Technology
  • December 7-8
    GRI 302
    Generational/Diversity, Business Development, New Home Construction

As a benefit for new REALTORS®, you may qualify for a 50% discount on your first GRI module! Contact Melissa Marshall for details: email | 405.848.9944

CONTACT CONGRESS NOW: Fannie Mae and Freddie Mac Funding Under Attack

Here they go again … Congress may consider taking credit risk guarantee fees (g-fees) from Fannie Mae and Freddie Mac for programs NOT related to real estate! Watch this 2-minute video from real estate expert Leigh Brown to see what’s potentially happening to OUR industry and how you can help in about 42 seconds!

Fannie Mae and Freddie Mac assure the 30-year mortgage are performing how they were intended and their funds MUST remain protected! Homeownership and affordability always help stabilize a struggling economy. We all understand how important roads and bridges are, but “Robbing Peter to pay Paul” is NOT the answer!

Text okrealtors to 30644 so you’ll know quickly when your voice is needed.

CLICK HERE MAKE SURE YOUR MEMBER OF CONGRESS RECEIVES THAT MESSAGE!

Bonus: This feisty little Leigh Brown will be back in Oklahoma for the OAR Brokers Summit November 4 in Oklahoma City to show you how to embrace teams to maximize profitability. Read more about this great broker event and RSVP quickly!

Oklahoma Brokers: This Is Your Day!

As a broker or manager in Oklahoma, this half-day Summit if all about you! IT’S FREE and all about supporting your company!

November 4, 2015
10:00a-2:15p
Will Rogers Theatre
4322 N Western Ave | Oklahoma City 73118

Nobu Hata, NAR Director of Digital Engagement, Karen France, RPR Senior Vice President of Industry Relations, and Leigh Brown national coaching expert are waiting to visit with you! Wednesday, November 4 at the Will Rogers Theatre in Oklahoma City from 10:00a – 2:00p. (2 hrs Elective CE).

Click here to read more about this year’s Summit and SIGN UP NOW!

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rpr-circle
leigh-brown-circle
NOBU HATA
Broker Profitability in the Digital Age
KATHY FRANCE
RPR Broker Dashboard
AMP/Project Upstream
LEIGH BROWN
Embracing Teams
CE: 2 (Elective: SAM)

READ MORE …

Join the Conversation About Millennials and the Housing Market

featured-image-realtor-com-hud-townhall

View the recording of the virtual town hall meeting with HUD Secretary Julián Castro to find out!

Millennials & The Housing Market

A VIRTUAL TOWN HALL MEETING WITH HUD SECRETARY JULIÁN CASTRO
October 26, 2015 at 5 pm CDT

VIEW RECORDING

Millennials Are Ready to Buy Their First Homes, But Challenges Await

First-time home buyers are back, baby—but a new wave of these (mostly) millennial prospectors is more likely than other buyers to face certain obstacles to nailing the deals, a new survey of our users shows. According to the latest existing-home sales report by the National Association… [read more]

Speakers

  • Julián Castro
    United States Secretary of Housing and Urban Development
    Julián Castro was sworn in as the 16th Secretary of the U.S. Department of Housing and Urban Development on July 28, 2014. In this role, Castro oversees 8,000 employees and a budget of $46 billion, using a performance-driven approach to achieve the Department’s mission of expanding opportunity for all Americans.
  • Jonathan Smoke
    Chief Economist, realtor.com®
    Jonathan joined realtor.com® as its first Chief Economist in June 2014. He leads the efforts of realtor.com® to develop and translate real estate data and trends into accurate and relevant consumer and industry insights. He represents realtor.com® at industry events like the REALTORS® Conference and Expo, Inman Connect, and state and local association conventions. Jonathan is quoted often in consumer, industry and investor-facing media like REALTOR® Magazine, Housing Wire, the Wall Street Journal, Bloomberg Business Week, CNBC, Fortune, and USA Today. He was recently featured in “The new wave of economists shaking up the status quo” in Housing Wire Magazine.
  • Nick Timiraos
    Economics Correspondent, The Wall Street Journal
    Nick Timiraos is a national economics correspondent for The Wall Street Journal in Washington, D.C. He has covered the housing bust and the government’s response to the mortgage crisis, including the bailout of finance giants Fannie Mae and Freddie Mac. In 2008, he contributed to the Journal’s coverage of the presidential election. He joined the Journal in 2006.
VIRTUAL TOWN HALL PAGE

Presented by realtor.com, the National Association of REALTORS® and the U.S. Department of Housing and Urban Development
Hosted by George Washington University

OAR Announces 2015 Annual Award Winners

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OAR congratulates the 2015 winners of the Community Rock Star Awards, the Life Member Award and the Legislator of the Year Award. All winners will receive their honors at the REALTOR® Celebration banquet held during REignite, the OAR annual conference and trade show Wednesday, Oct. 14 at the Embassy Suites Norman Hotel and Conference Center, located at 2501 Conference Dr. in Norman.

REALTORS® from across Oklahoma will come together for the conference to learn about new products and services that will enhance their careers as well as attend educational classes with topics ranging from the latest technology and marketing skills to new rules about mortgage disclosures.

“Our members and partners are devoted to their communities and work tirelessly to improve their cities, through excellence in their industry and volunteerism,” said Kacy Bell, 2015 OAR president. “Each award recipient this year deserves recognition for exceeding the expectation and truly making a difference.”

Community Rock Star Award Winners

This award honors three Oklahoma REALTORS® who go above and beyond to fulfill the needs of their community. It is designed to seek out members who give unselfishly to improve the world around them through community service. Each winner receives a $1,000 grant in their name to the charity of their choice, recognition in the REALTOR® Connection newsletter and on OAR’s website, and a complimentary ticket to OAR’s REALTOR® Celebration Banquet where they will receive their award. This year’s winners are:

Bow-Bailey-100px-sqBow Bailey is a volunteer at the Craig County Salvation Army in Vinita where he helped provide school lunches for many students in need and planned several community events, including chili and BBQ cook-offs. He is a member of the Northeast Oklahoma Board of REALTORS® and works for Solid Rock, REALTORS®.

 

Shelley-Carson-100px-sqAs a member of the Greater Tulsa Association of REALTORS®, Shelley Carson has dedicated 10 years to supporting GTAR’s Backpacks for Kids program in Tulsa. Under her leadership, the program has raised more than $140,000 resulting in over 3,750 backpacks for children in need. She is also a senior account representative with Old Republic Home Protection.

 

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Brad Reeser is a member of the Edmond Board of REALTORS® and an agent for Keller Williams Realty. For 12 years, he has served KW Cares, a public charity created to support Keller Williams associates and their families with hardship as a result of a sudden emergency, by planning fundraisers and raising large sums of money for Keller Williams families, the American Cancer Society and the Alzheimer’s Association.

 

Harriett Wagnon Association Executive Achievement Award

carolyn-house-100px-sqCarolyn House, association executive for the Northwest Oklahoma Association of REALTORS®, has been named the first recipient of the Harriett Wagnon Association Executives Achievement Award. The Oklahoma Association of REALTORS®’ association executives committee created the award to honor one who has excelled in his or her role. The award was named for the late Harriett Wagnon, Edmond board of REALTORS® executive.

House has been with the Northwest Oklahoma Association of Realtors for 27 years, facilitated the only board merger in the state during the past year and has been a lifetime supporter of RPAC. She attends state and local sessions and provides assistance to other association executives.

Life Member Award Winner

To be chosen as a Life Member Award winner, the REALTOR® must have been a member of the organization for at least 30 years, been nominated by their local board and demonstrated unusual meritorious service at OAR.

Brad-Reeser-100px-sqThis year’s winner is Brad Reeser, an OAR member for 33 years. Reeser is a past president of the Edmond Board of REALTORS®, and was honored as their 1998 REALTOR® of the Year and the 2007 Lifetime Achievement Award recipient with the Edmond Board of REALTORS®. He also previously served as a board member for the Oklahoma Association of REALTORS® and on the Oklahoma RPAC Trustees in 2014. Reeser is also a devoted member of the community volunteering with the Girl Scouts of America Western Oklahoma District, Project Woman Coalition and KW Cares.

Legislator of the Year Award Winner

David-Brumbaugh-100px-sqRepresentative David Brumbaugh, of Broken Arrow, will receive OAR’s Legislator of the Year Award. Rep. Brumbaugh was a steadfast leader in supporting property rights during his tenure in the Oklahoma House of Representatives, and his significant involvement with OAR during the 2015 legislative session was essential in supporting real estate issues.

You Snooze, You Lose!

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Pre-registration for REignite, OAR’s education conference & trade show, ENDS Sunday night. That’s the only way to guarantee space for you at the conference, and you’d hate to lose out.

SEE MORE

A Day Full of CE!

Classes like Leigh Brown’s Listing Presentation Reboot, The New Closing Process with Monica Wittrock, Jeff Lobb’s Online Strategies, and more will have you checking off license renewal boxes and updating your business skills.

Don’t forget that all Oklahoma REALTORS® now have access to the new RPR—REALTORS® Property Resource! Get basic, mobile and advanced tips for becoming a wealth of data for your clients.

Now’s the time to REignite the fire in your business! Don’t even think about sleeping on it.

REGISTER NOW

Wednesday, October 14
Embassy Suites Norman Hotel & Conference Center

Who Owns Your Property Photos?

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Listing content fuels the real estate industry, and displaying photographs of real properties online is now a vital part of the real estate professional’s marketing plan. Sellers use photographs to market properties, and buyers rely on those images to select which properties to visit. MLSs distribute property listings through proprietary databases that include the listing photographs. Moreover, MLSs in turn often license their property listing databases, including broker-provided photographs, to third-party portals, such as REALTOR.com, and other websites and vendors.

Improper use of listing photographs, however, can create legal problems for agents, brokerages and MLSs. Authorship and ownership of photographs within the real estate industry is “fractured”. Who authored the photograph and who can use what photograph and in what way varies across the industry. Listing photographs may be taken by homeowners, real estate agents, MLS or brokerage employees, or professional photographers. Photographs may be owned or licensed to different parties in a variety of ways. A misunderstanding of how you may use the photographs for property listings could make you vulnerable to a copyright lawsuit.

Continue reading >> realtor.org/law-and-ethics/who-owns-your-property-photos

Source: realtor.org

Have You Downloaded the OK REALTORS® Mobile App?

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You always have your phone with you…

Now you have all the information you need wherever you are! Here’s a sampling:

  • Find a REALTOR® – search for agents around Oklahoma by name, city, designation or field of business!
  • Newsfeed and Blog – all of OAR’s recent news and announcements!
  • Events – Classes, conferences, committee meetings and other OAR functions!
  • REignite Conference Schedule, Handouts, Exhibitors and more!
  • OAR TV – View OAR’s Capitol Insiders, class promos and instructors you’ll see at OAR events!
  • Social – Check out OAR’s social channels and feel free to share to your own followers!

Much more! – There’s more to see and use right now, and it’s brand new, so even more will be added soon!

DOWNLOAD it now!

From your mobile device, you can search ok realtors or click one of the buttons below to get to the app stores.

mobile-app-download-apple  mobile-app-download-google

For the fullest experience, give the app permission to:

  • Access your location
  • Get push notifications

The app will be your one place for REignite Conference info!

For the past two years, OAR saved thousands of sheets of paper and toner by implementing a mobile app. Thank you for utilizing this mobile app to help OAR reduce consumption.

We want your feedback!

If you have questions or suggestions, please email Steve Reese or call 405.848.9944.

MLS Users: Get RPR Training at REignite!

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REALTORS® in and around the Oklahoma City area may soon have access to one of the most innovative benefits included in your NAR membership: REALTORS® Property Resource (RPR)! RPR gives you on-the-go access to the most powerful data platform available exclusively to REALTORS®.

The timing couldn’t be more perfect!

At REignite, OAR’s education conference & trade show, you will get basic, mobile and advanced training on it!

What is RPR?

RPR-logo

Easily accessed through desktop, iOS and Android devices, RPR’s database is the largest and most far-reaching real estate platform of its kind, with data sets ranging from tax and mortgage history to listings, sales, valuations, demographics and school information. As a powerful marketing tool, RPR allows REALTORS® to create custom-branded, client-friendly reports that can be printed, emailed or texted … anytime, anywhere.

  • Search hundreds of datasets on more than 160 million on- and off-market properties
  • Create the ultimate listing package with RPR’s Comp Analysis tool
  • Calculate the ROI for your client’s home improvement
  • Send customized reports from your smartphone, iPad, Android Tablet or desktop computer
VIEW VIDEO
Start your journey to success by registering for REignite to maximize all RPR has to offer you!

REignite_logo_horizonrtal
$99 Early Bird through Sep. 30!
Embassy Suites Norman Hotel & Conference Center

LEARN MORE | REGISTER NOW

End of the Month Closings, Early Bird Discount Collide!

deadline clock

REignite_logo_horizonrtalReal estate professionals, lenders and title companies are all gearing up for end of the month real estate closings. It’s a busy time for everyone!

OAR’s annual education conference & trade show REignite is coming up October 14 and also has an end-of-month Early Bird incentive! Save more of the commissions you work so hard to earn by registering early.

Register by September 30 to lock in the $99 fee! After that, the price goes up to $125. That’s a week’s worth of grande lattes and a whole lotta disappointment.

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Oct 14
Embassy Suites Norman Hotel & Conference Center
$99 (includes lunch, CE, prize giveaways!)

LEARN MORE | REGISTER

 

Learn to Keep More of Your Commission in Oct 6 Webinar

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Tuesday, October 6
10:00a

REGISTER NOW

Why Should You Attend?

As health care costs skyrocket, it is no surprise that we receive numerous requests from people looking for ways to help offset these expenses. Most business owners simply deduct their insurance premiums and think that’s all they can do. We will focus on some strategies specifically dealing with this topic. In addition to the medical emphasis we have jam packed this webinar with other powerful strategies to take advantage of other available tax deductions. You will learn such things as:

  • How to maximize deductions
  • HSA accounts
  • Medical reimbursement plans
  • Home office deductions
  • Using technology in your tax strategy

About the Presenter

taxbot_sandy_botkin_headshotSandy Botkin is a former trainer for the IRS, a CPA, and a tax attorney. He is a best selling author of the book “lower Your Taxes Big Time” and a guest expert on news media including: Fox, CNN, NBC, and ABC. Sandy has been training small business owners on tax strategies for over 30 years.

Tuesday, October 6
10:00a
REGISTER NOW

TAXBOT.COM

Taxbot LLC
PO Box 1507
Bountiful, Utah 84011
United States
(855) 482-9268

Happy National Voter Registration Day!

national-voter-registration-day-logo

Every year, the Oklahoma Legislature deals with issues affecting property ownership and development. Without OAR protecting your property rights, this year’s Real Estate Owner’s Rights Act would have had serious negative consequences on property transactions!

And to have a voice on Election Day, you need to make sure you’re registered to vote—and to have your voter registration up to date with your current home address.

REGISTER TO VOTE     VERIFY VOTER REGISTRATION

Help Spread the Word!

Hit the SHARE button below to tell your friends and colleagues on social media about National Voter Registration Day!

Mortgage Rates Drop Sharply After Fed Announcement

Source: Mortgage News Daily

Mortgage rates came roaring back today after the Fed held steady at record-low policy rates. While the Fed Funds Rate doesn’t directly dictate mortgage rates, the two tend to correlate over time. At its most basic level, the Fed rate dictates the cost of short term money, which has ripple effects that carry through to longer term financing costs, like those associated with things like 10yr Treasury notes and mortgage rates.

Not only did the Fed forego a rate hike, they were also noticeably more downbeat about inflation and global growth/stability. It’s just as likely that these longer-term implications helped longer term rates (like mortgages) do as well as they did today.

All that having been said, the drop in rates merely brings them back in line with last week’s best levels. Considering they only rose from there due to Anxiety over today’s Fed meeting, it’s not unfair to say that rates are still in the same narrow range that’s been in effect for more than 2 months. The silver lining is that today could only be the start of a bigger move lower, though until that’s clearly the case, it always makes sense to guard against the possibility that the first move after a Fed Announcement is a head fake.  With several lenders inching back into the high 3’s today for conventional 30yr fixed rate quotes, playing defense should be more enjoyable.

Continue reading >> Mortgage Rates Drop Sharply After Fed Announcement

Oklahoma Home Sales for August 2015

featured-image-housing-indicators-graph-august-2015

The total housing inventory at the end of August 2015 decreased 5.90 percent to 19,243 existing homes available for sale according to multiple listing service reports from all across Oklahoma. Over the last 12 months, Oklahoma has had an average of 3,834 closed sales per month. This represents an unsold inventory index of 5.02 months supply of inventory for this period.

According to the preliminary trends, Oklahoma has experienced some upward momentum with the increase of average price. Prices went up 2.61 percent in August 2015 to $176,635 versus the previous year at $172,142.

The average number of days homes spent on the market before selling decreased by 6.85 days or 10.22%  to 60.14 in August 2015 compared to last year’s same month at 66.98 days on market.

There were 6,425 new listings in August 2015, up 0.48 percent from last year at 6,394. Furthermore, there were 4,236 closed listings this month versus last year at 4,385, a 3.40 percent decrease.

Buying or selling real estate, for a majority of consumers, is one of the most important decisions they will make. Choosing a real estate professional continues to be a vital part of this process. Oklahoma REALTORS® are well-informed about critical factors that affect your specific market area, such as changes in market conditions, consumer attitudes and interest rates.


View and download Oklahoma Housing Data reports at okrealtors.com/housingdata. For information on national existing-home sales from the National Association of REALTORS®, please visit realtor.org.

For interview requests, please email OAR Vice President of Marketing Steve Reese.

7 Things New Users Want to Know About RPR Residential

When considering adoption of a new business tool, new and seasoned REALTORS® unanimously want to know “what will it do for me and how will it help my business?”


REignite_logo_horizonrtal Learn all about RPR and get hands-on training October 14 at REignite in Norman!


Realtors Property Resource® (RPR®) is designed exclusively for that purpose: to help REALTORS® achieve professional success by providing them with an unparalleled platform of dynamic data and persuasive reports that help attract, retain and lead clients to the closing table. The system must be accessible 24/7 from any device (desktop to mobile), all-inclusive, easy to use, and produce client-friendly information that yields results—all at no additional cost.

We got this … and want you to get it too.

Here are seven areas of RPR you can use to build your real estate business:

1 Search

The sky’s the limit when searching RPR’s 160 million+ on- and off-market properties. Enter an address for a specific property or broaden your query by searching for current, distressed and recently sold properties by city, town, ZIP, county and neighborhood, as well as market activity in those areas and even your own listings.

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2 Mapping

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3 Property Details

No other real estate platform offers side-by-side, listing vs. public record comparisons like RPR. See how the property has changed over time, update estimated values based on the property’s size, condition and enhancements; and view sales history and financing in just a few, quick clicks.

rpr-property-details

4 Neighborhood and Schools

Paint a vivid picture of the best features of local neighborhoods and schools. Compare them to city, Oklahoma and national levels. Contrast a home’s median sales prices against volume; and get to know residents by age, gender, income, occupation and education. Job growth, cost of living, commute times, walkability and even weather patterns are recorded. Get school ratings, reviews and scores.

rpr-neighborhood

5 Reports

Choose from a quick and easy mini-property report texted or emailed from your mobile device, or a comprehensive seller’s report that is sure to impress even the most demanding client. Round out this tool with a market activity report for a snapshot of active, pending, sold and distressed properties; a neighborhood report for open houses, or cross over to RPR Commercial for reports on economic trends. And all are customizable to reflect your brand.

rpr-reports

6 Mobile

The apex of the RPR Mobile™ platform provides on-the-go access to a world of client-REALTOR® engagement opportunities. Instantly view nearby properties and get listings, sales, valuation, foreclosure, school stats and market trends—all from your iPad, Android Tablet or Smartphone. Text or email reports, respond to prospects, and click to call other agents … anytime, anywhere.

rpr-mobile-banner

7 Tools

RPR’s Comparative Analysis is like no other. Evaluate properties using local sales information and comparable listings, easily adjust and compare pricing relationships and identify local market conditions using a step-by-step wizard. Use your market expertise to add a recommended price for both qualitative and quantitative input. For harder-to-price homes, jump over to the Sales Comparison Analysis. Now is the time to tap into the most trusted, REALTOR®-owned data platform available exclusively to members of the National Association of REALTORS®. Begin your journey by registering at narrpr.com or take a look at RPR’s online learning center. For a deeper dive, sign-up for an upcoming workshop led by our expert trainers. RPR’s call center is open 24/7 at 877.977.7576.

rpr-tools

 

OU Football Invites OK REALTORS® to 100th Consecutive Sellout

The University of Oklahoma Athletics extends a special offer to all Oklahoma REALTORS® to this Saturday’s home football game!

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IT’S FOOTBALL TIME IN OKLAHOMA!

Join the Sooners on
September 19

for a special price available
to members of the

Oklahoma Association of REALTORS®

OU is excited to offer all members of Oklahoma Association of REALTORS® a special $55 per ticket offer that includes a Lower Level ticket and $12 in concessions! 

Your concessions dollars will be loaded onto your ticket. All you need to do is scan your ticket at a concessions stand to redeem.

 

Kickoff for Tulsa vs Oklahoma is slated for 11:00A at Gaylord Family Oklahoma Memorial Stadium. 


Click the “Buy Tickets” button below and we will see you on September 19!

Boomer Sooner

 
 
 

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2015 OAR Annual Membership Meeting October 13

The Oklahoma Association of REALTORS® holds its annual membership meeting each year during the fall conference. This year the meeting will be Tuesday, October 13 at approximately 4:00p (immediately following Board of Directors Meeting).

Embassy Suites Norman Hotel & Conference Center
2501 Conference Dr
Norman, OK 73069

REALTOR® and REALTOR-ASSOCIATE® members (including secondary REALTOR® and REALTOR-ASSOCIATE® members) present at any membership meeting of the Association shall be delegates and be entitled to vote and to participate fully in all discussions and deliberations. At the Annual Meeting, the treasurer shall make a full report of all the property and affairs of the Association for the preceding fiscal year and a financial report for the current fiscal year. The election of officers, state directors, and member-at-large director(s) shall also take place at the meeting. All officers and state directors shall assume their duties effective January 1, the following year. The election of the nominee(s) for NAR Director(s), as appropriate, and for Region IX Vice President, as appropriate, shall be held at the Annual Meeting.


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As we said earlier, the meeting is held in conjunction with the education conference, REignite! If you haven’t registered, you can do that now:

$99 Early bird through Sep 30!
REGISTER NOW!

Rep. Lucas Honored at NAR Luncheon

congressman-frank-lucas-and-kathy-fowler

The National Association of REALTORS® hosted a lunch for Representative Frank Lucas (OK-03) on Thursday, September 10 at the National Association REALTORS® Headquarters in Washington, DC. In attendance were NAR President Chris Polychron, Majority Whip Steve Scalise (LA-01), Chair of the Oklahoma RPAC Trustees and Federal Political Coordinator (FPC) to Rep. Lucas Kathy Fowler of Enid, NAR staff and industry leaders from various other companies and trades.

Attendees discussed issues and concerns important to real estate including housing finance reform, the expansion of the Waters of the U.S. Rule, and the need for patent reform to small businesses being targeted by patent trolls. President Polychron was in Washington to testify before Congress and gave firsthand examples of how UAS (Unmanned Aircraft Systems) are useful in real estate and the necessity of having reasonable regulations from the FAA. Following the lunch, President Polychron testified before the House Judiciary Committee on the Commercial Applications and Public Policy Implications of UAS. Fowler thanked Rep. Lucas for all Rep. Lucas has done for REALTOR® issues and Oklahoma. All attendees agreed there was much to be done and hoped that many issues would be worked on now that Congress is back in session after their August recess.

Top 3 Reasons Most REALTORS® Don’t Go To Real Estate Conferences

speaker-leigh-brownDid you know the top three reasons most REALTORS® don’t attend their industry conferences are the exact same reasons why you SHOULD attend? Leigh Brown, one of our featured conference speakers at REignite October 14, gives a few secrets that’ll lead to real estate gold. But you have to attend in order to get the full effect!

Here are a couple more secrets you should know:

  • GRI designees get 25% off!
  • Early bird pricing ends Sep 30!

Now visit the REignite page to see the rest and register!


REignite_logo_horizonrtal
October 14, 2015
Embassy Suites Norman Hotel & Conference Center | 2501 Conference Dr. | Norman, OK 73069

NAR Hosts Affordable Mortgage Proposal Webinar Sep 8

Mortgage Design Proposal: A Better Balance Between Building Home Equity and Affordability

NAR-Director-of-Housing-Finance-Ken-Fears

  • Tuesday, September 8
  • 11:00a, Central Time
  • No cost

NAR Director of Housing Finance Ken Fears is hosting a webinar September 8 at 11:00a CT, to introduce a proposal for an affordable mortgage product that’s intended to help borrowers build up equity in a shorter period than they can with the 30-year, fixed-rate mortgage.

Currently, the most common mortgage product is the 30-year fixed rate mortgage product. Although this product has the attractive features of a fixed payment and no upside risk from rising mortgage rates, it also leads to a slow buildup in equity for the borrower. Fears will present his proposal for a new mortgage product that remains affordable for the borrower while helping to build up equity in a shorter period.

REGISTER FOR WEBINAR

CRS Offers Pre-Conference Class with Dale Carlton, National CRS President

 

Identify what stage of business growth you are in, and specifically learn how to advance your business to the next stage!

featured-image-oklahoma-crs-chapter-logoOne of the most important lessons that real estate agents must learn is that they are running their own business and are not employees. They must think like entrepreneurs coming up with all the creative ideas for the success of their business and understand what will grow their business. Established research has determined that successful companies go through five stages of business growth, and real estate agents experience these same stages. In this seminar we will look at the different stages of growth and the barriers that keep agents from moving to the next stage. We will discuss when an agent needs to add new systems, when to hire an assistant, when to build a team and the responsibilities of each of these people in the business. This course is a guide to growing your real estate business to the level you desire.

Details

  • Tuesday, October 13, 2015
  • 1:00-4:00p
  • Embassy Suites Norman Hotel & Conference Center
  • Free to Oklahoma CRS Chapter Members
  • $25 for OK CRS non-members
REGISTER NOW!

In this class, you will …

  • Learn the 5 stages of business growth
  • Identify what stage of business growth you’re in
  • Find out when to hire an assistant
  • Understand what barriers are keeping your business from growing
  • Discuss what an assistant or team member should provide in helping your business grow
  • Learn firsthand from 2015 National CRS President Dale Carlton!

crs-5-stages-of-business-growth-2015

HOTEL RESERVATION

You may also call the reservations line (1.866.577.1273) using the group code REA.
You have until September 30 to book rooms under the special $124 group rate.
(includes breakfast and happy hour)

REGISTER FOR REIGNITE CONFERENCE!

This CRS class is a separate event, and registration does not grant access to the Oct 14 REignite conference.

Save the Date! 2016 OHFA Housing Summit

2016 OHFA Housing Summit

When: April 14, 2016
Where: Moore Norman Technology Center | Business Development Center | Southwest Oklahoma City
How much: Early bird $129
The Housing Summit includes breakfast, 12 breakout sessions, lunch and plenty of networking opportunities.
Social Hashtag: #OKHousingSummit

Keynote Presentation

sgt-noah-galloway-black-jacketThe 2016 Housing Summit kicks off with an energizing keynote presentation from Iraq combat veteran Sergeant Noah Galloway.

A native of Birmingham, Alabama, Sergeant Galloway was assigned to the 1st of the 502nd Infantry of the 101st Airborne Division out of Fort Campbell, Kentucky during Operation Iraqi Freedom. Just three months in to his second tour of duty, he experienced a life changing injury.

On December 19, 2005, Noah Galloway lost his left arm above the elbow and left leg above the knee in an Improvised Explosive Device (IED) attack. He was transported to Germany to receive medical treatment, remaining unconscious for five days. Read more about Noah on the OHFA Housing Summit website.

Sponsorships Available

Corporate sponsorships of the Oklahoma Housing Summit are now available. OHFA is also offering space in conference programs. Reach out to leaders in the affordable housing industry by supporting the Oklahoma Housing Summit.

This year’s event is presented by Midwest Housing Equity Group.

Dynamic, Knowledgeable Breakout Presenters Wanted

To ensure the best possible experience for Housing Summit attendees, OHFA is currently holding a call for presentations. If you are interested in presenting, please visit the Housing Summit website and complete the call for submissions form.

REGISTER NOW

Nationally Recognized Technology Expert at GRI Oct 28-29!

Amy-Smythe-Harris-300x199

When it comes to education OAR offers, we’re committed to bringing you only the very best.

On October 28-29, Amy Smythe-Harris brings back her mind-blowing technology sessions to GRI 301! This will be two days jam-packed with tech tips, tricks and solutions to make your business run more seamlessly.

REGISTER GRI 301

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The Social Media REALTOR®

Do you have much success operating your real estate business using social media? Would you like to do better? Do you know the rules to follow? Amy will get you on the right path!

Cloud Computing

If you conduct most of your business away from a desk (i.e. your car, clients’ homes, coffee shops, on your sofa), you need to be able to access everything to do with your transactions and marketing wherever you are. Amy will show you how to get set up “in the cloud” so you can function wherever you are!

Foundation Apps

We’re all taught the secret and real value of our mobile devices lies in the apps we use. Amy will show you how to download AND USE the most important apps in your arsenal.

Amy

Ultimate Mobile Agent

This is the next step to help you become a “digital agent” by utilizing mobile devices. Amy will demonstrate to you how to use various real estate and business-related iPad and mobile applications in greater detail. The kind of stuff almost required in today’s real estate business! Realtor.com, Zillow, mortgage calculators … you’ll make them work for you!

Apptastic Time

This session takes you to the next level! You’ll learn Amy’s favorite time management apps, apps for your clients to download, plus a plethora of other apps you didn’t know you needed until Amy shows you how you can’t live without them!

REGISTER GRI 301

Amy Smythe-Harris

Amy Smythe Harris (known as @amyoutloud) is the Co-Broker/Owner of Urban Provision, REALTORS®, a boutique virtual real estate firm with 5 virtual offices in Texas. She is a digital native with over 18 years in the industry.

She has a proven track record of giving back to the real estate community in the form of education as well as volunteer leadership all while rolling up her sleeves and pounding the pavement. This allows her to be consistently engaged and ensures she keeps a constant pulse on the ever changing real estate scene.

You will quickly discover Amy is quite passionate about her career and is always giving back in some form or fashion. In her spare time, you’ll find her splitting her time between educating agents and volunteering at the local, state and national associations. She is very passionate about training her industry colleagues in utilizing technology and social media in their business practice to become more efficient in their prospecting. She personally holds the following designations and certifications: GRI, GREEN, e-PRO, CRS, SFR, TRLP

She is an instructor for the Houston Association of REALTORS®, is a senior instructor for the Texas Association of REALTORS® and is a keynote speaker who has extensively traveled across the United States speaking about technology and ethics as they relate to the real estate. She has served on Houston Association of REALTORS® Board of Directors since 2009 and also lends her expertise to the Technology Advisory, Member Profitability/Training, and NextGen (YPN) committees all at HAR.

Amy also serves on Texas Association of REALTORS® Professional Development Committee, Professional Standards Committee and Technology Committee and was past chairman of the NAR Consumer Communication Committee.

Oklahoma millennials are on their way to homeownership

Millennials are the leading age group in Oklahoma for first-time homebuyers.

Over the last decade, the majority of first-time homebuyers in Oklahoma were some of the youngest in the nation, averaging 28 years old, according to the National Association of REALTORS®. This year, millennials—defined as the age group of 18-34—are projected to surpass Baby Boomers as the nation’s largest living generation.

“Oklahoma’s diverse economy and low cost of living has allowed millennials to take advantage of the low mortgage rates we have right now and purchase their first home,” said OAR President Kacy Bell. “It is smart to consider now how your home can appeal to a millennial buyer.”

featured-image-twilight-pool Research shows 68 percent of millennials are looking for a move-in ready home. Millennials are busy with their careers, growing families and other activities, so they want a home that doesn’t require them to spend every weekend working on it. Amenities millennials are looking for include:

  • A backyard or a pool
  • Attractive design
  • Energy efficient and smart technology

Oklahoma REALTORS® expect home purchases by millennials to continue to rise with an estimated 46 percent buying their first home in the next one to two years. This incoming age group is also prepared financially with 62 percent planning to pay a 20 percent down payment, which is a substantial increase from the previous standard of 5-10 percent down.

“In Oklahoma, the dream of homeownership is alive, and millennials will continue to play a big role in the health and future of real estate,” said Bell. “It is important for sellers to understand how this demographic shift will change the real estate market and to keep that in mind when they put their homes on the market.”

GRI Designees Receive 25% Discount On REignite Conference!

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There are numerous benefits of earning your GRI designation—higher earning power, enhanced professional image, increased expertise, expanded referral network, and the list goes on

This year OAR offers an added benefit to designees!

As a GRI designee, you realize the value of advanced training and networking with other professionals. This substantial discount is a “thank you” for the investment you’ve made in your professional career.

When you click the Register Now button and sign in, the system will recognize you as a graduate and show the 25% discount option. (Be sure to click that option though.)

gri-designee-discount-reignite-registration

Click below to visit the REignite conference page and see all the exciting speakers and classes we have for you!

And see just how smart you are for paying 25% less!

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October 14, 2015
Embassy Suites Norman Hotel & Conference Center
2501 Conference Dr | Norman, OK 73069

REIGNITE CONFERENCE

Are You Using the Correct Property Condition Disclosure?

Oklahoma Real Estate Commission

We have a friendly reminder from the Oklahoma Real Estate Commission! OREC has brought to our attention some REALTORS® have attempted to use the new Residential Property Condition Disclosure Form. The one on the Commission’s website dated “11/15” is not valid until November 1, 2015 and cannot be used for transactions until then.

The new form is part of the Amended Rules Effective November 2, 2015. If you have any questions, please contact OREC at 405.521.3387.

 

4 Steps to Use RPR with Your Relocation Business

4 Steps to Use RPR with Your Relocation Business-articleAs the old saying goes, make your first impression count. And now, It’s never been easier to impress and create a one-of-a-kind experience with REALTORS® Property Resource (RPR®). Up your game with analytical tools and client-friendly reports from RPR. Add in a few new tricks, plus your local market expertise and you are just a few clicks away from creating a memorable transaction that can lead to a steady stream of relocation business.

Step One: Identify Your Client’s Needs

Begin by determining your client’s wants and needs. How many bedrooms do they want? How big of a yard do they need? How about commute time? Do they want to be near a park? Once you’ve identified your client’s ideal lifestyle, you can then weave the data from RPR with your local knowledge to find the perfect (re)location!

Step Two: Assemble a Relocation Packet

The relocation packet is your champion—not only is it going to save time, but it’ll put you miles ahead of the competition with real statistics and market analytics. Showcasing your expertise of the local market has never looked so good.

Start by searching their current neighborhood and use those market conditions to help locate similar markets with the Neighborhood Report. Make sure to include both current and proposed neighborhoods in the packet. You’ll also want to include a Trade Area Report for the proposed neighborhoods you’ve identified. The Trade Area Report can be found on the Commercial side of RPR. It provides a greater sense of demographics, trends and statistics of the neighborhoods. Be sure to follow all fair-housing guidelines when consulting your clients.

After you’ve pulled, saved and reordered the reports, you’re ready to print or send your Relocation Packet via email. Tip: turn off page numbers so when you put the packet together, you can rearrange the pages in the order that makes the most sense for your client’s needs.

Step Three: Pre-showing Prep

With a goal of speeding up the relocation process, automating the property search is key to capitalizing on this niche. By having the following setup, you’ll be able to quickly find suitable properties to share with your client:

  • Run Market Activity reports for the selected areas to assist your search.
  • Setup auto notifications in your MLS to alert you with new listings.
  • Create Mini-Property reports to send to your client for consideration.

Step Four: The Offer

Your client has toured (or virtually toured) the properties you cultivated during Step Three, and they are ready to place an offer. Now is the time to go a step further and strengthen your strategy (and your buyer’s confidence) behind the offer with RPR’s Property Details report paired with a Comps Analysis to seal the deal.

Helping someone feel at home in your community (and saving you time) can be a very gratifying experience. Has RPR helped you realize the fruits of your labor with increased referrals? Tell us about it in the comments.

on-demand video learning series Class Companion Flier

TRID Summit Offered by First Mortgage Company

First Mortgage Company invites you to a TRID Summit with a panel of title companies!

Topics

  • TRIDThe New Loan Estimate and Closing Disclosure
  • New RESPA/TILA Rules

New disclosures will replace the GFE. TIL & HUD I starting October 3. The new forms come with hundreds of pages of new rules. Learn what you need to know to help you advise your buyers and sellers and have your deals close on time!

Details

  • Date: Thursday, September 3
  • Time: 1:00–3:00p
  • Where: Central Oklahoma Home Builders Association Event Center
    420 E Britton Rd. Oklahoma City, OK 73114
  • RSVP by 8/24 to Paula James at 405-842-8090 or by email

About the Instructor

Alan Fowler, CMB is Executive Vice President of First Mortgage, LLC and the Principal of Fowler Financial Education and Consulting, LLC. Alan has 34 years experience in all areas of real estate finance and has taught real estate and finance courses throughout the U.S. and around the world since 1996. Alan is a Certified Mortgage Banker and a Master Faculty Fellow at the MBA School of Mortgage Banking.

Sponsored by:

First Mortgage Company hi res

2016 OAR Committee Recommendations Now Open

OAR is accepting recommendations for participation in statewide committees. Committees are a wonderful opportunity to network with other influential professionals throughout the state and serve your REALTOR® community.

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How can you get involved?

Any OAR member can serve on an OAR committee. Find something that interests you from the complete list of OAR committees and send in a committee recommendation form by October 15.

The OAR president and president-elect will then meet to discuss each request to appoint committee chairs, vice-chairs and members. Finally, at the February 17, 2016 OAR Board of Directors meeting, the list is ratified.

A member currently serving on a committee, whose term expires in 2015 MUST submit a request if he/she would like to be considered for service in 2016; members are NOT automatically considered for re-appointment to a committee.

SUBMIT COMMITTEE INTEREST FORM

The deadline for submission is October 15, 2015.

Email Sabrina Tyree with any questions or for more information.

Website designed to help explain Truth-in-Lending changes

In the continuing efforts to keep members abreast of the latest news on the implementation of the Truth-in-Lending RESPA Integrated Document (TRID) rule by the Consumer Financial Protection Bureau (CFPB), NAR is pleased to announce new resources to help REALTORS® prepare for the changes.

CFPBlogoOn August 14, after close collaboration with NAR, the CFPB launched a new online toolkit for real estate professionals as part of its “Know Before You Owe” campaign. CFPB uses the term “Know Before You Owe” for its consumer-facing communications regarding TRID. The new website is designed to help real estate professionals understand the changes to the closing process, that will go into effect on October 3, 2015, and how to explain the changes to clients. The site also includes resources that real estate professionals can provide to their clients.

NAR Resources CFPB Online Toolkit

If you have any questions, please contact John DiBiase, NAR Government Affairs Communications Director, jdibiase@realtors.org or 202-383-1037

2016 OAR Slate of Officers Announced

In accordance with Article VII, Section 2 of the Bylaws of the Oklahoma Association of REALTORS®, notice is hereby given of the nominations made by the OAR Nominating Committee for 2016 OAR officers and the 2016-17 OAR elected state directors.

Please note that Article VII, Section 2 of the Bylaws also provides that “any member may nominate a qualified candidate for any office, except the office of president, provided the nomination is in writing signed by thirty (30) additional members in good standing and the nominee and delivered to the office of the Association at least twenty (20) days prior to the Annual Membership Meeting. The names of all nominees shall be mailed by the Association to member boards in care of their presidents for dissemination to their members and to all members who are members at large prior to the Annual Membership Meeting. The names of all nominees shall be posted in at least two (2) places in the meeting room at the Annual Membership Meeting. The election shall be held during the Annual Membership Meeting by secret, written ballot where there is more than one (1) nominee for an office.” The deadline to receive additional nominees in the OAR offices is September 22, 2015.

featured-image-annual-membership-meetingElection for the offices noted above will be held at OAR’s Annual Membership Meeting, October 13, 2015, at the Embassy Suites Norman Hotel & Conference Center, Norman, Oklahoma. To register for REignite, OAR’s education conference and trade show, please visit okrealtors.com/conference.

Download Slate

Stillwater Board Plans Affiliate Event, Reports New Members

The Stillwater Board of REALTORS® had a relatively quiet 2nd quarter. We were excited about getting all of our Core Standards completed on time. The RPAC Committee planned a fun fundraising event for the 3rd quarter. The Affiliate Committee met to discuss ideas for a get-together possibly in October. With dues payments coming up for July 1st, we lost a number of members but also gained several new. New members include Kearsten Vaughan, Ashley Snow, Jenifer Sprayberry, Josh Barnett and Rebecca Weiland. Two of the new members are Brokers who have brought new offices to SBOR – Oklahoma Real Estate Crew and eXp Realty.

REignite speaker profile: Jeff Lobb

Jeff is fluent in the three languages … English, real estate & technology.

jeff-lobb-stageJeff Lobb is an international speaker, trainer, coach, innovator and consultant. Jeff has been a REALTOR® for more than 23 years and has more than 10 years experience in the Internet and Technology fields, both with Fortune 500 companies and startup ventures.

He is a technology & marketing specialist from the perspective of a REALTOR®! He has been a top-producing agent, has run real estate brokerages and has developed training and coaching products to serve the real estate industry. His knowledge base is very diverse, but Jeff specializes in mobile, social media, video and digital marketing.

You will see him at the REignite Conference—OAR’s education conference & trade show—October 14 in Norman!

2015 Conference Sessions

MOBILE TO WIN LISTINGS SELLING WITH SOCIAL MEDIA

REignite_logo_horizonrtal
OAR Education Conference & Trade Show
October 14, 2015
Embassy Suites Norman Hotel & Conference Center
REGISTER NOW!

 

E&O Risk Manager: Seller sues for breach of contract

A Real-Life Situation On The Importance Of Lease Agreements

Situation:

pearl-insurance-logoFollowing a temporary job transfer, an owner of a luxury home in the suburbs decided to list the property as a rental—furnished or unfurnished—at the rate of $9,000 per month. He entered into a listing agreement with a local agent who initiated a marketing campaign that caught the attention of another agent representing a couple who were interested in relocating to the area before their children entered school. After viewing the property, they expressed their desire for a one-year lease, but not all the furniture. They subsequently agreed on a price of $8,200 per month.

Problem:

No written lease agreement was executed.

Mistake:

The couple’s agent informed the owner’s agent that his clients were too preoccupied with renovating their other residence to sign the lease, but was “vouching for his clients’ commitment to do so.” As verification, the couple provided a specific list of desired furnishings just two weeks prior to the occupancy date.

Result:

In reliance upon the continued assurances from the lessees, the owner hired a moving company and rented a storage facility to house his family’s belongings. However, just days before the scheduled move-in, the couple announced that they would not be relocating after all. As a result, the owners incurred thousands of dollars in moving and storage expenses and were unable to rent the premises for three months. And because the property was deemed vacant, no insurers were willing to cover the property for more than 30 days. A lawsuit was then filed against both agents and the lessees alleging breach of contract along with fraudulent and negligent misrepresentation.

Prevention:

The standard of care imposed upon agents means that they must act as a competent real estate agent would act in a similar situation, while being expected, as a fiduciary, to perform duties with a reasonable level of skill and care in order to protect their clients. This would include the preparation of contracts and other relevant documents. A common law duty also exists to deal with other parties in good faith. In this case, the agent representing the lessees owed a duty of honesty and fairness to the property owner by making sure his clients executed the lease agreement in a timely manner. Having a valid contract in place may have led to a different outcome.

The recommendations in this article may differ from state and local practices. Greenwich Insurance Company and Indian Harbor Insurance Company Coverage is not available in all jurisdictions.

Copyright © 2015 Pearl Insurance/XL Group

OAR Success Partner Taxbot Offers Free Webinar

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Wednesday, July 8

9:00a

REGISTER NOW

Learn how to pay the least amount of taxes possible next year by doing a few simple things today. Most business owners or 1099 employees overpay their taxes between $1,000 – $13,000 each year (even when using a CPA).


Join former IRS Trainer and Best Selling Author Sandy Botkin for a free webinar and learn how you can give yourself that raise by keeping more of what you earn! You will learn:

  • How to get your gas for free
  • How to legally deduct your kids video games and ballet lessons
  • How to write off more of your meals and entertainment with special emphasis on maximizing business gift deductIons
  • Hyperfocused information on how claiming a home office can turbo-charge your retirement
  • How technology has made it easy to become a tax savvy business owner

taxbot_sandy_botkin_headshotAbout Sandy

Sandy Botkin is a former trainer for the IRS, a CPA, and a tax attorney. He is a best selling author of the book “lower Your Taxes Big Time” and a guest expert on news media including: Fox, CNN, NBC, and ABC. Sandy has been training small business owners on tax strategies for over 30 years.

Wednesday, July 8
9:00a
REGISTER NOW

TAXBOT.COM

Taxbot LLC
PO Box 1507
Bountiful, Utah 84011
United States
(855) 482-9268

CFPB Proposes Two-Month Extension of “Know Before You Owe” Mortgage Rule

CFPBlogoThe Consumer Financial Protection Bureau (CFPB) issued a proposed amendment to the Know Before You Owe mortgage disclosure rule, which proposes to move the rule’s effective date to October 3, 2015. The rule, also called the TILA-RESPA Integrated Disclosure rule, requires easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage for a homebuyer. The Bureau is issuing the proposal to correct an administrative error that would have delayed the effective date of the rule by at least two weeks, until August 15 at the earliest.

The CFPB is proposing a new effective date of Saturday, October 3. The Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rules. The Bureau further believes that scheduling the effective date on a Saturday may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems. A Saturday launch is also consistent with existing industry plans tied to the original effective date of Saturday, August 1.

The proposal will be open for public comment until July 7.

COPY OF PROPOSAL

Live Webcast on Closing Process Changes July 16

Save the date: Thursday, July 16 at 2:00p.

REALTOR® Magazine is hosting a live webcast on what you need to know about the closing process changes coming later this year and how to help keep transactions on track as the new process and forms take effect. The webcast will feature Phil Schulman of K&L Gates, an expert on federal closing rules, and Finley Maxson, NAR Senior Counsel.

Look for details on joining the event shortly.

Enid Metro Association of REALTORS® expands territory, changes name

featured-image-enid-board-luncheon8-April-9-2015

The changes in the National Association of REALTORS® (NAR) core standards for associations is resulting in some smaller boards and associations consolidating with other associations. On April 1, the merger between the Woodward Board of REALTORS® into the Enid Metro Association of REALTORS® became official. Then effective June 1, their name change was approved by NAR, creating the Northwest Oklahoma Association of REALTORS®.

These changes increases their coverage to 12 counties in Oklahoma: Garfield, Grant, Kingfisher, Alfalfa, Major, Woods, Woodward, Cimarron, Texas, Beaver, Harper and Ellis. In covering more counties, they will encompass the entire northwest part of Oklahoma. This increased coverage will bring more opportunities for REALTORS® in that area of the state to serve the public as the “Voice of Real Estate”.

E&O Risk Manager: Buyer Sues For Fraudulent Concealment And Misrepresentation

A Real-Life Situation On The Importance Of Detecting “Red Flags”

Situation:

pearl-insurance-logoA real estate agent listed and sold a 3,000-square-foot residence with a swimming pool and guesthouse, perched on an acre of land.

Problem:

A portion of the property consisted of fill that had not been properly engineered and compacted. And during the time the sellers owned the property there was a minor slide involving a 10 to 12 foot section of the filled slope, followed by a more significant slide two years later when it dropped 50 to 60 feet across. However, the sellers did not inform the agent.

Mistake:

The agent and a junior associate conducted several inspections prior to the sale. They noticed that corrective measures were taken, but never questioned the sellers and never made a recommendation to the eventual purchasers—whom she also represented—that they engage a soils expert.

Result:

Not long after the closing another slide caused the foundation of the house to settle, which in turn caused major cracks in the walls and warped doorways. It also destroyed a portion of the driveway. The buyers then sued the sellers, agents, and builder for fraudulent concealment, intentional misrepresentation, and negligent misrepresentation. Estimates of the cost to repair the damages caused by the slides and avoid reoccurrence exceeded the appraised value of the undamaged property. At trial the jury returned a verdict finding that the defendants had been negligent and apportioned 15% of the damage award against the agents.

Prevention:

Always conduct a careful visual inspection of any property whether you’re serving as listing agent or buyer’s agent, and be sure to look for clues or “red flags” that may indicate latent defects, which may involve more extensive problems. An agent should never act outside the area of their expertise and should recognize when to ask for help from another professional, or suggest when to use the services of another professional. It is essential that buyers realize they have the right to request any type of property inspection—and that inspection contracts and reports may contain disclaimers. If buyers decide not to do so, document this in writing and have the buyer acknowledge in writing.

The recommendations in this article may differ from state and local practices. Greenwich Insurance Company and Indian Harbor Insurance Company Coverage is not available in all jurisdictions.

Copyright © 2015 Pearl Insurance/XL Group

Demystifying the Documentary Stamps

featured-image-woman-open-hands-house-pearl-insuranceOne of the discussion items that is coming up in OAR’s 2015 District Meetings surrounds the Documentary Stamps—or “doc stamps,” as they’re known. The question was asked …

Where does doc stamp revenue go?

So OAR did some checking with the Oklahoma Tax Commission to find out.

​The bottom line is basically that the State General Revenue Fund gets 69.7% and the County keeps 30.3%. The tax is $0.75 of each $500 of the purchase price.

The first fifty-five cents ($0.55) of each seventy-five cents ($0.75) collected is apportioned as follows:

  1. The county clerks retain five percent (5%) of all monies collected as their cost of administration, and
  2. The remaining ninety-five percent (95%) of the collections is sent to the Oklahoma Tax Commission for deposit in the General Revenue Fund.

The remaining twenty cents ($0.20) is paid into the county’s general fund.

Our state tax commission contact noted, “​The money retained by the counties is deposited into the county ‘general fund’.” They continued, saying they “assume that means for county government operations and not schools.” Their research found back in 1971 it mostly went to vo-techs and junior colleges, but they didn’t have an answer for when that changed to its current allocations.

 

National safety expert leading workshop in OKC June 19

tracey-hawkins-safetyYou owe it to yourself, family and friends to learn best practices on how to stay safe. National REALTOR® safety expert Tracey Hawkins will be at the Oklahoma REALTOR® Building in Oklahoma City on June 19 to share specifics on what you should and shouldn’t do to minimize your risk.

In the video below, Tracey tells us a few things to expect in the class and creating a safety plan for:

  • Clients
  • Office Procedures
  • Open Housesicon-twitter
  • FSBOs
  • Foreclosures
  • Social Media
  • And the tools to help you stay safe!

June 19
9:00-11:00a
Oklahoma REALTOR® Building | OKC
CE: 2 Hrs (Core HOT)
$20 Early bird tuition ends June 12
$25 after June 12

REGISTER NOW!

Stay Cool This Summer for Less

Tips for lowering air conditioning costs with rising temperatures

featured-image-patio-twilightAfter these extraordinary rains subside, Oklahoma will most certainly see the temperatures rise quickly this summer. Those weather extremes can also mean an expensive time for many Oklahomans trying to escape the heat indoors.

“Summer months can drastically increase homeowners’ electricity bills,” said OAR President Kacy Bell. “However, there are many things that homeowners can do to lower cooling costs this summer.”

Homeowners can use the following tips to help lower their air conditioning costs in the coming months.

  • Install blinds or hang curtains. Direct sunlight can dramatically increase the temperature of a room. Blinds and curtains can reflect heat away from your home.
  • Only cool your home when needed. Homeowners can lower their air costs by at least five percent by increasing the temperature of their homes subtly when they are not home.
  • Reduce heat from appliances. Using appliances like a stove, oven or a dryer can produce large amounts of heat that air conditioners have to compensate for. Consider doing laundry after the sun has set and inspect appliances to make sure they are running efficiently.
  • Regularly clean air filters. By adding this simple task to a cleaning routine, homeowners will be able to keep up AC efficiency up by allowing proper airflow throughout their homes.
  • Use fans to lower temperature. Fans can make it feel cooler by almost 8 degrees and are cheaper to run than running your AC unit.
  • Close vents in unused rooms. Homeowners do not need to cool rooms that are not in use, and this simple tip can help save unnecessary costs.

“Summer doesn’t have to be miserable,” said Bell. “By simply following these tips, homeowners can enjoy summer months without paying increased air conditioner costs.”

2015 District Meetings Bring You Closer to OAR

Give your membership a boost by getting involved in your professional association! OAR is hosting Town Hall-style meetings around the state to share news and information from local boards and hear updates from OAR.

After the lunch meeting, you’ll be treated to perennial favorite Larry Starbuck teaching the NAR Code of Ethics in the afternoon.

  • Noon-1:00p Lunch/District Meeting
  • 1:00-4:00p Code of Ethics ($10 fee)

5Districts

Choose your District and reserve your spot now!

June 3 | District 1

  • Enid Metro Association
  • North Central Board
  • Stillwater Board

June 10 | District 3

  • Ada Board
  • Shawnee Board
  • Southeastern Oklahoma Association
  • Southern Oklahoma Board
  • Texoma Board

June 24 | District 4

  • Bartlesville Association
  • Cushing Board
  • Northeast Oklahoma Board
  • Greater Tulsa Association

July 8 | District 2

  • Altus Association
  • Duncan Board
  • Lawton Board
  • Western Oklahoma Board

July 22 | District 5

  • Edmond Board
  • El Reno Board
  • Midwest City-Del City-Moore Association
  • Norman Board
  • Oklahoma City Metropolitan Association

Realtor.com announces higher exposure for listings, members

An Open Letter to Valued Brokerage Industry Partners

May 13, 2015

Dear Brokerage Industry Partner:

realtor.com-logo-2015For nearly 20 years, realtor.com® has worked side-by-side with the industry to enhance the REALTOR® brand with consumers through the most accurate, comprehensive and up to date consumer home search experience, all the while ensuring that the value proposition of brokerage firms and their agents remains front and center with consumers. Guiding us during this period has been our unwavering adherence to a host of industry-friendly principles such as:

  • Respecting the economic interests of the industry by not commingling FSBO listings with brokerage firm listings;
  • Not displaying value estimates on “for-sale” properties because the local real estate professional is the best person to determine the value of a listed property; and
  • Displaying the online reputation of brokers and agents in a way that both meets consumers’ needs to find the “right” professional while also being done in a fair way for the industry.

Unlike our competitors, we believe these principles help define the symbiotic relationship we have with the industry. As online real estate evolves, we must find new ways to deliver value to the tens of thousands of listing firms and their agents who provide us their hard-earned listing data. To that end, we are pleased to announce several new features and tools, provided at no charge, designed to help listing firms and their agents grow their businesses.

realtor.com-nar-trade-expo-may-2015Launching this week will be the ability to include on every realtor.com® listing an SEO-friendly hyperlink to the listing display page on the listing firm’s website. This new feature adds to the elevated visibility of listing firm and agent names directly under the photograph on each listing display, and full display of up to 36 photos, a marketing paragraph, agent contact information, showing details, open house dates and more.

Additionally, all listing firms and their agents will now be able to better understand the exposure of their listings to the millions of transaction-ready home buyers onrealtor.com® through a new listing dashboard that includes how often a particular listing has shown up in realtor.com® local search results, how often a listing has been viewed, and how many potential home buyers have inquired about the listing. And finally, all listings on realtor.com® will include the applicable MLS copyright information giving home buyers confidence when searching that the data is accurate and up to date. The MLS copyright feature will be live by the end of July and the listing dashboard by the end of August.

To learn more about these new features and tools available to all listing firms and their agents and our ongoing industry commitment, please visit: realtor.com/industry

To our continued partnership and mutual success,

THE REALTOR.COM® INDUSTRY TEAM

 

Forward-Looking Statements

This document contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s views and assumptions regarding future events and business performance as of the time the statements are made. Actual results may differ materially from these expectations due to changes in global economic, business, competitive market and regulatory and other factors. More detailed information about these and other factors that could affect future results is contained in News Corp’s filings with the Securities and Exchange Commission. The “forward-looking statements” included in this document are made only as of the date of this document and we do not have any obligation to publicly update any “forward-looking statements” to reflect subsequent events or circumstances, except as required by law.

Housing Foundation activated for Wednesday night’s tornadoes

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In response to tornadoes and flooding Wednesday evening, the Oklahoma Housing Foundation has been mobilized to assist.

The foundation’s Disaster Relief Fund will provide relief to victims of natural disasters, with priority given to Oklahoma REALTORS®.

DOWNLOAD APPLICATION

All applicants must complete an application form accurately and in full. Foundation Trustees will review applications without knowledge of the identity of the applicant. Amount of relief assistance is at the discretion of the Foundation Trustees.

OAR’s Facebook Group, Oklahoma Tornado Housing Help, is a place for displaced residents to connect with real estate professionals to find temporary or even permanent housing. It proved to be a very successful online space in the time after the 2013 tornadoes.

If any other assistance is needed, or there are additional questions, please email Emma Meyer or call 405.848.9944 to explore options.

Negotiations and Lead Conversion Topics of CRS Classes at OAR in June

featured-image-oklahoma-crs-chapter-logoJune 8-9, the Oklahoma CRS Chapter will host Gee Dunsten for two days of high-caliber instruction at the Oklahoma REALTOR® Building in Oklahoma City.

WIN-WIN NEGOTIATION TECHNIQUES

JUNE 8

To successfully represent and satisfy their customers, agents must be effective negotiators. In fact, the NAR Profile of Home Buyers and Sellers reports that 87% of buyers identified negotiation skills as a very important quality for their real estate agents. Since another key element of success is developing and sustaining relationships, agents must consider not only the outcome of a negotiation but also their rapport with the other party. This new CRS One-Day Course provides negotiation strategies that enable you to achieve mutually satisfying results rather than haggling over issues that can derail transactions. Through highly-interactive role playing activities, you will develop and practice scripts that can prepare you to successfully negotiate with all parties in a transaction.

Upon the successful completion of this course, the student will be able to:

  • Establish and maintain rapport with other parties in a negotiation
  • Learn about other parties’ needs and identify their interests
  • Effectively prepare for negotiations by exploring actionable solutions and creating a game plan
  • Respond more effectively to issues that commonly arise during your transactions

CRS Chapter MEMBER: $125 (Early Bird $100)
NON-MEMBER: $150 (Early Bird $130)
Early Bird Deadline: May 20

ONLINE REGISTRATION DOWNLOAD FLIER

CONVERTING LEADS INTO CLOSINGS


JUNE 9

Whether you are a new agent building your business or an established agent keeping your database fresh, maintaining a flow of potential customers is crucial to your success. Attracting leads is key, but if you don’t have effective systems for converting them into closings, you’re leaving money on the table. This new CRS One-Day Course highlights traditional and digital approaches to identifying and closing more customers. Instruction and activities cover all aspects of a successful customer interaction experience–attraction, first contact, needs analysis, incubation, conversion, closing, and beyond.

Upon the successful completion of this course, the student will be able to:

  • Develop systems for capturing, converting, and tracking leads
  • Implement customer-focused campaigns that highlight consistent touches via various channels
  • Integrate technical tools to enhance the efficiency and responsiveness of your lead management
  • Set priorities for lead conversion and create an action plan for achieving them

CRS Chapter MEMBER: $125 (Early Bird $100)
NON-MEMBER: $150 (Early Bird $130)
Early Bird Deadline: May 20

ONLINE REGISTRATION DOWNLOAD FLIER

INSTRUCTOR

speaker gee dunsten

Gee Dunsten, a graduate of the University of Maryland, has been in the trenches of the real estate business for three decades. Gee has been a Certified Instructor with the Council of Residential Specialist for more than 25 years, having served as their 2001 national president.

A prolific author and speaker, his hands-on approach to real estate training with leading-edge ideas and systems has made him a popular speaker at NAR conventions, as well as numerous state and local association conventions and seminars. He is also president of Gee Dunsten Seminars, Inc. and has taught in all 50 states, as well as Australia, New Zealand and Chile.

ABOUT CRS

The Council of Residential Specialists (CRS) is the largest not-for-profit affiliate of the National Association of REALTORS®. They are a professional network of more than 30,000 residential real estate professionals and provide education, resources and networking opportunities. CRS also awards the Certified Residential Specialist® (CRS) Designation to top-producing REALTORS® who have met specific requirements related to experience, transactions and education.

VIDEO: May 1 Capitol Insider

Capitol Insider 5-1-15OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips talk about the progress of bills this week in the Oklahoma Legislature, including an update on SB 379 and the passage of the Texting Bill. Take a look at this week’s summary of activity at the State Capitol.

Stay up to date with the activities OAR is involved in and the progress of legislation on the Government Affairs section of okrealtors.com.

NAR Announces New REALTOR® Safety Course

2015 NAR President Chris Polychron announces the new 3-hour REALTOR® safety course—Real Estate Safety Matters. It was premiered April 20 for the Arkansas REALTORS® Association and will be presented at the REALTORS® Legislative Meetings & Trade Expo on May 12, 2015 in Washington, D.C.

dale-carlton-crsThe class is taught by Dale Carlton, current national CRS president, who will be the luncheon keynote speaker at this fall’s OAR education conference & trade show in Norman.

Oklahoma attorneys offer free legal advice

Attorneys across Oklahoma will provide free legal advice on Thursday during the 37th annual statewide celebration of Law Day. Oklahoma City and Tulsa lawyers will staff the statewide toll-free hotline between 9 a.m. and 9 p.m. on Thursday. Those who speak only Spanish can also call the hotline with legal questions, as Spanish-speaking attorneys and translators will be available to take calls. The toll-free number to call is (800) 456-8525 or email AskALawyer@okbar.org.

 

VIDEO: April 24 Capitol Insider

featured-image-capitol-insider-150424OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips talk about the progress of bills this week in the Oklahoma Legislature, including SB 379, termed the “Real Estate Owner’s Rights Act,” which has been pulled back for further negotiation and will be monitored through the conference committee process. Take a look at this week’s summary of activity at the State Capitol.

Stay up to date with the activities OAR is involved in and the progress of legislation on the Government Affairs section of okrealtors.com.

Tornado Preparedness is Everyone’s Responsibility

Make Sure Your Home is Ready for Severe Weather Season

Nestled in the heart of tornado alley, Oklahoma is no stranger to severe weather. There are a number of things homeowners can do to prepare their homes for additional protection from severe weather that will also increase the value of their home.

Unfortunately, Oklahoma has sustained much weather damage in recent years.

“The Oklahoma weather can produce strong winds, damaging hail and tornadoes,” said Kacy Bell, 2015 OAR President. “We want to make sure Oklahoma residents, their property and homes are prepared for tornado season.”

During severe weather season, homeowners can take specific measures to make sure their homes are ready for the spring months. Tips on being weather ready are listed below:

  • Wind resistant roofing. Homeowners looking to shield their homes from water damage or a damaged roof can look into wind resistant roofing for an average of $2,000 above conventional roofing practices. This price may seem steep, but there is large return on investment in this area. When looking to sell in the future, home updates like wind resistant roofing can boost resale value of the home or compel buyers to choose your home over others.
  • Home storm shelters. Storm shelters provide security and safety for current homeowners and increase the value of a property as well. Storm shelters can be pricey, but the return on investment can be very beneficial to homeowners looking to sell in the future. Again, there is additional confidence it builds in your home compared to others without a shelter.
  • Securing your home and yard. Homeowners should secure their homes by arranging furniture so that chairs and beds are away from mirrors or windows and placing large or heavy items on lower shelves. In the yard, homeowners should remove all dead or dying tree limbs and secure potted plants, grills and lawn furniture to prevent these objects from being thrown around by strong winds. These measures will keep your home and outside space tidy and appealing while being safe at the same time.
  • Have a plan: Along with being the busiest weather season of the year, April and May are also two of the busiest real estate months of the year as well. Make sure you have a disaster contingency plan for open houses and events at your home as well.

“Severe weather season can be such a stressful time in our state,” said Bell. “But, the good that comes from it is the chance to learn how to best protect ourselves, and our homes and property.”

Are You or Someone You Know Doing Great Work Serving the Community?

featured-image-realtor-magazine-good-neighbor-award-nomination-deadlineNAR wants to hear about it! Don’t miss the Good Neighbor Awards deadline on May 15.

Good Neighbor Award winners receive $10,000 grants for their charities, as well as national and local publicity for their cause. Winners will also be flown to the National Association of REALTORS® annual conference in San Diego this November where they will receive their award in front of thousands of fellow REALTORS®. Past winners all report that their charity benefited from additional donations and volunteers as a result of the exposure.

GOOD NEIGHBOR AWARDS

Questions? Contact Sara Geimer, Good Neighbor Awards program manager, at 312-329-8296 or via e-mail at sgeimer@realtors.org.

“Creating Powerful Transactions That Close” Hosted by GTAR Commercial Group

When: 9:00a-4:00p | Thursday May 7, 2015
Where: 11505 E 43rd Street, Tulsa, OK 74146
Presented by Jim Wilson, CCIM, SEC
OREC approved: 6 hours Elective CE Credit

In this excellent course, Jim Wilson explains how counseling your client to consider equity marketing and “pro-active” marketing concepts can deliver benefits and solutions to achieve your client’s objectives. The result is “Creating Powerful Transactions That Close!”

The course also covers very specific actions and skills to maximize production from attending a marketing session, and much, much more!

Sponsored by the Commercial Real Estate Specialists (CRES) of GTAR.

The cost is $50 for GTAR members, $75 for non-members (includes lunch).

Click Here  for full course details and a registration form.

Formerly Distressed Homeowners Returning to Market, According to National Study

Nearly a decade since the start of the foreclosure crisis, formerly distressed homeowners with restored credit are re-entering the housing market, but damaged credit profiles and lender overlays will greatly restrict the overall share of those eligible to buy, according to new research from the National Association of REALTORS®. California, Florida and Arizona are expected to see the largest share of return buyers within the next decade.

NAR REALTOR LogoNAR analyzed the nearly 9.3 million homeowners that underwent a foreclosure, received a deed-in-lieu of foreclosure, or short sold between 2006 and 2014 to estimate the amount of creditworthy borrowers expected to re-enter the housing market as a return buyer in upcoming years.

The findings reveal nearly a million of these former owners have likely already purchased a home again, and an additional 1.5 million are likely to become eligible and purchase over the next five years, representing an additional source of buyer demand for the housing market. However, because of low credit quality, millions more will not be able to re-enter in the coming decade.

Lawrence Yun, NAR chief economist, says there were two waves of defaults during the housing crisis: from subprime and then prime borrowers. “While loose lending standards in the mid-2000’s led to the rise in subprime buyers who ultimately became distressed owners, falling home prices and rising unemployment resulted in a large share of prime borrowers also defaulting or going through a short sale,” he said. “Now fueled by a gradually improving economy and the strong rebound in home prices, some of these former distressed owners have returned to the market, and more will likely become eligible in coming years.”

Several important factors were taken into account in NAR’s study, including the time necessary to repair a distressed seller’s credit, whether the distressed seller’s credit profile (at the time of purchase) fell below historic standards, if it met sound underwriting standards and whether they would meet credit overlays in the current stringent environment.

The findings show that roughly 950,000 former distressed owners of prime quality have become re-eligible for Federal Housing Administration or similar financing programs and have likely purchased again by restoring their credit to pre distress levels. Furthermore, 1.5 million formerly distressed owners will likely buy again over the next five years as they become eligible, with California, Florida and Arizona seeing the largest share of return buyers.

Despite the new source of housing demand from these return buyers, Yun says the considerable impact a distressed sale has on a borrower’s credit score will severely limit the overall number of those returning. “The extended time needed to repair credit scores or save for a downpayment, combined with other overlapping post-distress factors on credit quality such as missed auto loan or credit card payments, will limit the ability for many to buy in the current credit environment,” he said.

Looking ahead, because of the time that has elapsed and the fact that many distressed owners likely rented and paid utility bills in recent years, Yun says the use of new credit scoring models such as Vantage Score 3.0 and FICO 9 can help improve the ability of these buyers to become homeowners again while helping lenders further examine their credit risk to ensure safety and soundness in the market.

“The deep wounds inflicted on the housing market during the downturn are finally beginning to heal as distressed sales continue to decline and home prices in some parts of the country have bounced back to their near-peak levels,” adds Yun. “Borrowers with restored credit will likely have the ability and desire to own again, encouraged by the long-term benefits homeownership provides in a stronger economy and more stable job market.”

VIDEO: April 17 Capitol Insider

featured-image-capitol-insider

OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips talk about the progress of bills this week in the Oklahoma Legislature. Senate Bill 379, also known as the Real Estate Owner’s Rights Act, has been opposed by OAR due to the property management language. Both authors have agreed to remove the property management language effectively addressing OAR’s concerns.

Here about this and other issues in this week’s Capitol Insider video.

 

Stay up to date with the activities OAR is involved in and the progress of legislation on the Government Affairs section of okrealtors.com.

Early Bird Extension Earns Extra Espresso

If you still need GRI 201 to complete your GRI designation, we have good news! We’ve extended the early bird deadline to end of the day Thursday, April 23.

Register now to save the equivalent of about 5 grande lattes—or $23!

featured-image-joyce-painterThis session includes important topics essential to your day-to-day business taught by one of your favorites, Joyce Painter, including advertising  and contracts!

Here is what a few students have said about Joyce’s recent classes:

“Joyce has a good sense of humor, kept class moving, and covered the material.”
“Excellent as always.”
“AMAZING!!!!!!!!!!!! All Round!!!!!!!!!!!!”


featured-image-diane-disbrow-2014-pro-standards-training
New to the GRI faculty is Diane Disbrow! Diane has trained OAR’s professional standards and grievance committee volunteers for a couple years and has made raving fans out of her audiences!

Diane will be prepping you on the NAR Code of Ethics, professional standards and minimizing your risk!

 

Tuition is $195 through Thursday, April 23 and then goes up to $218. So save the money for some brain juice at your favorite coffee shop!

REGISTER NOW!

VIDEO: April 10 Capitol Insider

This week more than 100 Oklahoma REALTORS® were in Downtown Oklahoma City for the Legislative & Economic Summit. Included among the events was REALTOR® Day at the Capitol, where members—particularly OAR’s State Legislative Advocates—heard a legislative briefing from OAR Vice President of Government Affairs Matt Robison and Contract Lobbyist and then dispersed throughout the Capitol visiting with lawmakers.

The 4th Floor Rotunda was again the setting for the annual Ice Cream Social, served by OAR leadership: Kacy Bell, president; Chuck Harris, president-elect; Bryan Sheppard, treasurer; and Pete Galbraith, secretary.

There’s an update to SB 429, by Senator Rick Brinkley and Representative Kevin Wallace, that will interest you. The bill was signed into law by Governor Mary Fallin this week. This measure, requested from OAR, revises the manner by which we submit names to the Governor in case of a vacancy at the Oklahoma Real Estate Commission.

See this Capitol edition of the weekly web series that includes two very special guests.

Additional legislative updates are posted on the Bill Tracker page of okrealtors.com.

Legislative & Economic Summit Recap Includes Materials for Download

featured-image-2015-legislative-economic-summit-todd-lambThis week’s Legislative & Economic Summit saw a terrific turnout of some of Oklahoma’s most engaged and influential REALTORS®! They heard from Lieutenant Governor Todd Lamb and State Treasurer Ken Miller on statewide issues. Lamb encourages the use of our positive economic situation to pass business-friendly legislation that would help us grow communities and compete better with our neighboring states. He feels very strongly against needing to buy plane ticket in the future to visit his children and grandchildren. He wants them to stay right here in Oklahoma.

Treasurer Miller updated the audience of more than 100 REALTORS® and association leadership on Oklahoma’s current climate, specifically touting a more diversified and bullish economy than in years past. Oklahoma now has a multi-billion dollar aerospace industry that contributes to a lesser dependence on oil and gas prices for a healthy economy.

Rob Hahn, a/k/a/ The Notorious R.O.B., gave his personal views on outdated brokerage models and ideas for creating a new system that gives agents what they’re really needing out of their company. He gave a very revealing comparison about the complexity of inputting listing data in an MLS versus sites like Zillow, which in his view, contribute to the growing competition of the listing sites.

Krista Massad GRI, principal broker for Century 21 Goodyear Green, said, “Rob Hahn was great! Thank you for bringing someone who isn’t concerned with only telling us what we want to hear. His words and information were thought provoking and inspiring!”

Patricia Ayling, sales associate with Keller Williams Elite, described Hahn as the “Best. Speaker. Ever. Notorious R O B!” Ayling continues saying, “Thank you, OAR, for bringing him to the Legislative and Economic Summit.”

The summit concluded with NAR Vice President of Political Strategic Planning Bill Malkasian giving a REALTOR® Party update and OAR CEO Lisa Noon presenting the State of the Association, including the 2014 OAR Annual Report video.

View photos from the event on OAR’s Flickr page

VIEW PHOTOS

Download the speakers’ presentation slides

OAR 2014 Annual Report Takes on Video Format

oar-2013-annual-reportAs you may remember, last year OAR created its first Annual Report—a high-quality printed piece unveiled at the 2014 Legislative & Economic Summit. Many organizations use annual reports as a valuable means of communicating an organization’s accomplishments, and last year’s report illustrated OAR’s beautifully.

With the digital tools available to PR and marketing professionals, writing and distributing annual reports is evolving into a far different exercise these days. They’re needed in multiple channels. OAR’s 2014 Annual Report is a perfect example. It was first previewed by the OAR Board of Directors in February and to attendees of this week’s 2015 Legislative & Economic Summit.

This video captures the essence and energy that made up a terrific year. A very high end product—just like the printed report from the previous year—is delivered in a format that’s completely portable in a mobile technology world. Here you’ll see OAR CEO Lisa Noon, 2014 President Mary Terry and President-Elect Kacy Bell tell about various high points of the year.

An added value to the video is having it—along with all our videos moving forward—transcribed with closed captioning for the deaf.

We think you’ll agree this video annual report showcases OAR’s 2014 year in review succinctly and beautifully! Please feel free to share with your colleagues and spheres of influence.

VIDEO: April 3 Capitol Insider

featured-image-capitol-insider-150403-stephanie-carterSB 429, by Senator Rick Brinkley and Representative Kevin Wallace, passed the legislature this week and is headed to the governor’s desk for her signature into law.  This measure, requested from OAR, revises the manner by which we submit names to the Governor in case of a vacancy at the Oklahoma Real Estate Commission.

Stephanie-Carter-150This webisode also marks the last full week for our colleague Stephanie Carter. Stephanie is our manager of government affairs and RPAC and now “graduates” as a staff member to overseeing the operations of the Edmond Board of REALTORS® as their association executive. While we couldn’t be more proud of her, we also will miss her terribly!

Stephanie’s knowledge of the advocacy piece of the NAR Organizational Alignment Core Standards, along with the other support services OAR provides, will be an asset to Edmond REALTORS® giving them everything they need in a staff executive. There’s a long line of quality leadership at the board, including Cassie Papin who’s leaving the post to be with her family full time, and then of course, Harriett Wagnon, who led the organization for 25 years.

And please don’t forget! The Legislative & Economic Summit is quickly approaching—Wednesday, April 8.

REGISTER NOW!

VIDEO: March 27 Capitol Insider

featured-image-capitol-insider

OAR VP of Government Affairs Matt Robison and Contract Lobbyist Richard Phillips talk about the progress of bills this week in the Oklahoma Legislature, including texting while driving and homebuilder/contractor registration. Don’t forget to register for the Legislative & Economic Summit coming up April 8!

Stay up to date with the activities OAR is involved in and the progress of legislation on the Government Affairs section of okrealtors.com.

GRI 201 Sure to Minimize Your Risk

Are you worried you may not be following the law or code? Want to reduce your business risk? April’s GRI course is designed to diminish those concerns.
Diane Disbrow, new to the GRI lineup, will help you learn the best ways to reduce risk, refresh you on the Code of Ethics, and set the Professional Standards for you.

featured-image-joyce-painter-broker-relationship-lawOn Day Two, local favorite Joyce Painter will show you the 23 Ways to Lose Your License, how to follow the Laws of Advertising and will pore over the Oklahoma real estate purchase contract in a refreshing, fun way.

Whether you’re well on your way to finishing your GRI designation courses, or are just beginning, this is one you can’t miss!

April 29-30
8:30a – 5p
Oklahoma REALTOR® Building | OKC

REGISTER NOW

OK Housing Foundation Ready to Assist

featured-image-moore-tornado-damage-150325In response to today’s tornados in Moore and Sand Springs, and other severe storms, the Oklahoma Housing Foundation has been mobilized to assist.

The foundation’s Disaster Relief Fund will provide relief to victims of natural disasters with priority given to Oklahoma REALTORS®.

DOWNLOAD APPLICATION

All applicants must complete an application form accurately and in full. Foundation Trustees will review applications without knowledge of the identity of the applicant. Amount of relief assistance is at the discretion of the Foundation Trustees.

OAR has reactivated the Facebook Group, Oklahoma Tornado Housing Help, as a place for displaced residents to connect with real estate professionals and hopefully find temporary or even permanent housing. It proved to be a very successful online space in the time after the 2013 tornados.

If any other assistance is needed, or there are additional questions, please email Emma Meyer or call 405.848.9944 to explore options.

WEBINAR: Build Listing Inventory with RPR

RPRAre you ready to learn new techniques to build your listing inventory? In this quick 30-minute class, RPR will explore ways to leverage your existing circle of influence or farm area combined with powerful RPR tools and reporting to inform potential sellers of the local demand in their market.

This class will fill up, so if you’re interested, click the RSVP button below to grab your spot today!

3 Ways to Build Listing Inventory Using RPR
Tuesday, March 31
12:00-12:30p CDT

RSVP WEBINAR

VIDEO: March 20 Capitol Insider

Last week, the Oklahoma State Legislature met a pivotal deadline for this year’s session. In order to remain active, all bills had to be out of the house of origin (Senate Bills out of the Senate and House Bills out of the House).

The Oklahoma Association of REALTORS® is actively working on several measures important to the real estate industry. Some measures represent significant concerns as they proceed through the legislative process:

  • SB 695 (Holt/Dank)
    This measure allows municipalities to place liens on property whose owners are delinquent on municipal trash service payments
    OAR opposes this bill
  • SB 379 (Newberry/Brumbaugh)
    This measure, called the Real Estate Owner’s Rights Act confirms property owners have the right to conduct improvements to their own property (i.e. electrical, plumbing, etc.) without requiring a licensed service provider to be hired. The bill also includes “property management” language which seems to allow unlicensed individuals to conduct this service.
    OAR is currently negotiating with the authors so our concerns are addressed.
  • SB 429 (Brinkley/Wallace)
    This bill revises current statutes regarding the number of names OAR submits to the Governor in the case of Oklahoma Real Estate Commission (OREC) vacancies.
    OAR requested and supports this bill
  • Cell Phone Usage
    There are “cell phone usage restriction” measures in both the Senate and the House.
    OAR is closely tracking these measures and supports making “physical texting while driving” illegal.

Always be prepared to immediately respond to any OAR Calls for Action!

The following measures were addressed by OAR and were not heard in their respective chambers so they are now dormant for this year.

  • SB 325 (Halligan/Denney)
    This measure would have allowed municipalities containing institutions of higher learning to create fee-based registries for rental property.
  • SB 350 (Stanislawski/Derby)
    This measure would have required property condition disclosure for every property transaction. Although OAR supports disclosure, this measure would expand government intrusion into our industry; was un-enforceable; and, would lead to an insurmountable level of litigation.
  • HB 1666 (Dank)
    This measure would have allowed neighborhood petitions to enable court ordered receivership of properties which are considered a nuisance.

Don’t forget!


April 8 is OAR’s Legislative & Economic Summit, REALTOR® Day at the Capitol, and Legislative Reception.

REGISTER TODAY!

Receive Discount on Your dot.REALTOR Domain

Log on to www.Claim.REALTOR and place your order using this Promo Code:  discount

Agents will receive a 10% discount on your order if they follow these steps:

  1. Purchase the domain at www.claim.realtor
  2. Enter the desired name and click Search for availability
  3. If available, then click Add to Cart
  4. Order multiple domains if desired
  5. Use the drop down menu to select the number of years
  6. Click Proceed to Checkout
  7. Complete the Billing Information
  8. Check box agreeing to terms of the .REALTOR Domain License Agreement
  9. Use the Click here link to open the Promo Code window
  10. Enter the Promo Code:  discount
  11. The 10% discount is on the entire shopping cart ordered at that same time
  12. Click the Continue button

For more details on the Dot REALTOR domain, check out www.About.REALTOR

Rob Hahn Will Shed Light on Critical Issues at Summit

speaker-rob-hahnRob Hahn, a/k/a the Notorious R.O.B., will be a special guest speaker at OAR’s Legislative & Economic Summit. He has some controversial—yet very thought-provoking—messages you’ve just got to hear. And you’ll only hear them April 8 in Oklahoma City.

Here are a few of the many topics Rob will hit on…and those hits might sting a little!

  1. BROKER! Huh! Yeah. What is it good for? Absolutely nothing! (Imagine this sung to the tune of “War” by Edwin Starr.)
    Rob believes the fundamental value of the brokerage is a critical issue today. Among technology, agent teams, and consumer behavior, it’s BROKERS who have to figure out their reason for being. The same old “training and culture” shtick is unconvincing. You have to be there to hear him offer a couple of possible options.
  2. Rob says there needs to be a D-I-V-O-R-C-E!
    Hear Rob explain the dysfunctional relationship between MLS and association that can and should be solved with an amicable divorce. Separation of Church & State would be better for both the Church (Association) and the State (MLS).
  3. I am stricken and can’t let you go!
    The single biggest threat to real estate agents going forward is? The Fair Housing Act.

And yes, his talk is likely to involve music videos.

So plan to attend the Legislative & Economic Summit April 8 at the Skirvin Hilton Hotel, Downtown OKC!

You’ll also get:

  • Oklahoma Lt. Governor Todd Lamb!
  • Oklahoma Treasurer Ken Miller!
  • OAR Chief Executive Officer’s State of the Association!
  • REALTOR® Day at the Capitol!
  • Legislative Reception at the Oklahoma History Center!
REGISTER NOW!

2016 NAR Committee Recommendation Process Underway

NAR REALTOR LogoAre you or someone you know interested in serving on an NAR committee in 2016? This is an excellent way to meet influential REALTORS® from around the country, build your referral base, be involved in the direction of your industry association, and grow professionally.

The online Committee Recommendation Form on REALTOR.org is now open and accepting recommendations. Please read the following important information regarding the committee recommendation process:

Re-appointment to Committees & Continuing Terms

Committee members are not automatically considered for reappointment. A member currently serving on a committee whose term expires in 2015 MUST submit a recommendation via the Online Committee Recommendation Form if he/she would like to be considered for service in 2016.

Members who have a continuing term that expires in 2016 or 2017 do not need to submit a recommendation to remain on the committee; they will remain until the term expires.

Process for 2016 Committee Recommendation Process

The deadline for submitting committee recommendations is May 22, 2015. All recommendations must be submitted via the online form.

Using the form, you can recommend yourself or another suitable candidate. When submitting a recommendation, you are required to include relevant comments that highlight the candidate’s skills and qualifications for the position. All comments are confidential.

We encourage you to seek recommendations from colleagues with whom you have worked closely, in particular members of state and national leadership.

Click the button below to access the recommendation form directly on realtor.org.

RECOMMENDATION FORM

Things to Consider when Submitting Recommendations

Please review the committee structure, which lists each committee’s purpose statement, composition (how many members), length of term, and specific qualifications for consideration to see what committee you would best serve.  Please note that if appointed to a committee you will be expected to attend all of its meetings and serve the full length of the term.  Furthermore, please note that forums are open to all members; so recommendations need not be submitted for forums unless you are seeking the position of chair or vice chair.

The committee structure* can be found by clicking “View Committee Information” on the committee recommendation homepage (link provided above).

*Note: The content is from the current (2015) committee structure. The 2016 committee structure will be approved at the REALTORS® Legislative Meetings & Trade Expo in May, 2015.

Expertise Profiles

NAR’s Expertise Profile Database was designed to provide all levels of the REALTOR® family (including the local, state and national associations) with key information about you and your professional experience. The information you will provide in this profile will be used as a resource in a variety of ways, including identification of members with certain expertise to serve on committees, working groups, presidential advisory groups; also, to respond to surveys about association issues, products, services, etc.

Individuals interested in serving on NAR committees are encouraged to create and/or update their expertise profiles. However, they are not required. Please note: completing an expertise profile is NOT the same as submitting a recommendation for yourself! If you wish to serve on an NAR committee, you still must submit a recommendation via the online Committee Recommendation Form on REALTOR.org.

EXPERTISE PROFILE

Turn to REALTOR.org for the Latest Information

Use of electronic mail and the NAR Governance page on REALTOR.org serves as the vehicle for promoting and publicizing information related to the Committee Recommendation/Selection process. Therefore it is imperative you adjust your email spam filter settings so you receive important emails from NAR.

NAR GOVERNANCE NAR COMMITTEES

*Members need to have a REALTOR.org login and password to access these pages.  Contact Information Central at (800) 874-6500; InfoCentral@realtors.org for login and password assistance.

Meet the Notorious R.O.B. April 8!

OAR is proud to introduce Rob Hahn, a/k/a the Notorious R.O.B. to you! He will be having a conversation with us at the upcoming Legislative & Economic Summit April 8 in Oklahoma City.

He will get into real-life issues facing real estate professionals every day, from the fundamentals to topics for brokers, the latest MLS trends, associations, technology and much more.  Rob is a  true thought leader in the real estate industry, and Oklahoma is thrilled to have him!

See the full schedule and REGISTER NOW for the summit April 8. There’s a full day of high level information and activities designed just for you.

UPDATE: If you need a hotel room, do not delay. The special OAR pricing goes away March 17!

GTAR and NORES Execute Data License Agreement with RPR

The Greater Tulsa Association of REALTORS® (GTAR) and the Northeast Oklahoma Real Estate Services (NORES) announced Wednesday that it has executed a Data Content License agreement with REALTORS® Property Resource, LLC, a wholly owned subsidiary of the National Association of REALTORS®, to license NORES data to RPR’s national property database for integration to their nearly 3,600 REALTOR® members.

”We are excited about our agreement with RPR and look forward to our upcoming partnership.  We have closely followed the development of RPR over the past several years and have seen it evolve into a must have product for REALTORS®.  The broker tools and legislative reports are some of the best I have seen in our industry in quite some time” said CEO Mike Cotrill.

“RPR is very pleased with the support by the leadership of NORES to integrate their local and regional MLS listing data within the RPR Platform for their REALTOR® members,” says RPR CEO, Dale Ross. “RPR began 2015 with goal of leveraging the RPR Platform to provide even more opportunities for REALTORS® across the country. With the recent release of RPR Mobile™, RPR has extended its Platform to the business tool REALTORS® use the most, their smartphones. RPR would like to thank the leadership of NORES for their decision to bring RPR’s full functionality to their REALTOR® members.”

About RPR

RPRREALTORS® Property Resource® (RPR®), a wholly owned subsidiary of the National Association of REALTORS®, is an exclusive online real estate database providing REALTORS® with the analytical power to help their clients make better informed decisions while increasing efficiency in the marketplace. For more information about RPR, visit blog.narrpr.com.

About NORES

GTAR logoThe Greater Tulsa Association of Realtors® is a real estate organization whose Northeast Oklahoma members are united to provide services; to promote education, professionalism, and ethical standards in order to assist members in better serving the public and protecting the free enterprise system and private property rights. Visit their website at TulsaRealtors.com.

Tulsa Commercial Market Update Slated March 11

Presented by the Commercial RE Specialists of the Greater Tulsa Association of REALTORS®

  • Tulsa Renaissance Hotel | 6808 S. 107th East Ave. | Tulsa, OK
  • 7:30a–1:00p (Buffet breakfast at 7:30; program starts at 8:00)
  • 4 Core CE: HOT

Market Overviews

  • Office: Carl Vincent, Corporate Realty Advisors, LLC
  • Retail: Caitlin Boewe, CB Richard Ellis/Oklahoma
  • Industrial: David Looney, Newmark Grubb Knight Frank
  • Multi-Family: Brandon Lamb, ARA Real Estate Investment Services
  • Land/Development: TBA

Economic Impact Panel

  • Cherokee Nation Businesses: Brian Hunt
  • Tulsa Port of Catoosa: Bob Portiss
  • MidAmerica Industrial Park: Ted Allison
  • St. Francis Health System: Tom Neff

Keynote Speaker

Lawrence Yun – Chief Economist, National Association of REALTORS®

Lawrence Yun is Chief Economist and Senior Vice President of Research at the National Association of REALTORS®. He oversees and is responsible for a wide range of research activity for the association including NAR’s Sales statistics, Affordability Index, and Buyers and Sellers Profile Report. He regularly provides commentary on real estate market trends for NAR’s one million REALTOR® members.

Dr. Yun creates NAR’s forecasts and participates in many economic forecasting panels, among them the Blue Chip Council and the Harvard University Industrial Economist Council. He appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States, and has testified before Congress. USA Today in 2008 listed him among the top 10 economic forecasters in the country, and he has been named among the Most Influential Real Estate Leaders by INMAN News over the past several years. Dr. Yun received his undergraduate degree from Purdue University and earned his Ph.D. from the University of Maryland at College Park.

Immediately following the Economic Impact Panel speakers, Dr. Yun will present his Commercial Real Estate and Economic Outlook, which will address the following:

  • Consumer and business spending in current recovery
  • Government spending and deficit impact
  • Inflation and monetary policy
  • Commercial real estate business activity
  • Methods of finance
  • Net absorption, new co