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June 27, 2007
GBREB Urges Passage
of Mandatory Rent Escrow Bill
The
Greater Boston Real Estate Board’s Government Affairs Director Patricia
Baumer testified in favor of mandatory rent escrow legislation –
H
1259 – at a June 5 hearing in front of the Massachusetts Legislature’s
Joint Committee on Housing. The legislation was also supported by REALTORS®
at this year’s Day on Beacon Hill. The bill aims to clarify the process
when tenants claim a violation of the state sanitary code and attempt to
withhold rent.
Currently, a tenant can claim a violation and not pay rent for months while
the issue is being investigated. The proposed legislation would mandate
that the tenant(s) put the rent owed into escrow until the situation is
resolved. Once resolved, the tenant or landlord will then be awarded the
money. Committee members are expected to meet in executive session to
review the testimony before making their recommendations to the full
membership of the House and Senate.
Rumors of FHA Program
Ending Are Debunked
Recently
there have been rumors claiming that the
Federal Housing Administration (FHA) is ending its Downpayment
Assistance Program. In reality, the FHA is harmonizing its rules with an
IRS ruling that targets non-profits that abuse their status to pass through
funds from sellers to buyers while taking a cut of the money for
“administrative fees.”
This practice has been shown to artificially inflate sales prices as
seller’s make up the contribution in the sales price. It has also been
shown to dramatically increase the number of delinquencies and
foreclosures.
The proposed FHA rule would end these practices. Buyers will still be able
to use gifts from relatives for downpayment assistance; government agencies
will still be able to provide downpayment assistance; and most importantly,
genuine non-profits that are not acting as pass-throughs for sellers and
builders will still be able to give downpayment assistance. Furthermore,
the U.S. Department of Housing and
Development (HUD) does not prohibit sellers from contributing to
foundations that grant downpayment assistance. Such donations however,
cannot be in amounts and timed to coincide with the sale of a property to
the recipient of such downpayment assistance.
Vote on Bylaws
Revisions Set for July 10
On July 10, a series of proposed revisions to the Bylaws of the Greater
Boston Association of REALTORS® will be presented to the general membership
for a vote. The changes, if approved, will provide for a more open and
inclusive process for nominating and electing officers and directors of the
association, clarify the voting procedures for the election of officers
and directors, and create a new, elected officer position of vice president
of GBAR, beginning in 2008.
The Bylaws vote will take place during the first hour of the GBAR Sunset
Dinner Cruise & Awards Program, scheduled for 6-9 p.m. on July 10 aboard
the Spirit of Boston. Members who wish to attend this program purely to
participate in the vote on the Bylaws should contact Christina Meehan at
617-399-7840 or by e-mail at
cmeehan@gbreb.com.
To view the proposed revisions to the GBAR Bylaws, visit
gbar.org. To register for the GBAR Sunset Dinner Cruise & Awards
Program, register online,
or call GBAR at 617-423-8700.
Learn What You Need
to Know About Healthcare Reform at Member Forum
In just three days (July 1), the Massachusetts Healthcare Reform Act goes
into effect mandating that virtually all Bay State residents have health
insurance. To prepare you to comply with this new law, the Greater Boston
Association of REALTORS® is hosting a free, hour-long member forum on
healthcare reform on Thursday, June 28 from 4:30 – 5:30 p.m. at the
Marriott Courtyard in Natick. A panel of speakers at the event will
address:
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Requirements and
implications of the new health care law for agents and brokers;
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Options for
insurance available under a new
REALTOR® Healthcare program;
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Financial resources
available to assist those seeking to obtain health insurance.
A cocktail hour will follow the forum at 5:30 p.m. Advance registration is
required to attend. For more information or to register for the Member
Forum visit
gbar.org.
For questions, contact
Kristin Langone
at 617-423-7851.
Agency, Disclosure
Issues Top Legal Risks Facing Industry
A recent study conducted by the National Association of REALTORS®, found
that agency issues are the most common form of real estate-related legal
disputes in the industry.
Next on the list are disputes dealing with property condition disclosure –
especially mold and structural defects. The data comes from court
documents, state regulations and jury verdict reports involving 655 court
cases and 112 statutes and regulations.
Technology disputes also seem to be increasing, particularly in regards to
spam, privacy and other forms of electronic solicitation. The study
showed that subject areas where additional training is needed include
agency, disclosure, technology, antitrust and real estate settlement
procedures.
NAR also conducted a legal issues survey specific to real estate management
with its affiliated Institute for Real Estate Management. This study
showed that the principal areas of concern in the property management area
include debt collection, accident claims, liability for tenants’ property
conditions and conditions of common areas, as well as events occurring on
managed properties.
You can get up-to-date legal news from
NAR’s website
or you can read the entire 2007 legal study online after logging in on
NAR’s
homepage.
Nomination Deadline
Approaching for 2008 GBAR
Officers and Directors
Are you a born leader? Would you like to play a more active role in setting
the direction of the REALTOR® organization on the local or state level? Do
you believe in giving back to the profession you belong to? If you answered
“yes” to any of these questions, we invite you to submit a nomination to
become an officer or director of the Greater Boston Association of
REALTORS® or director from GBAR to the Massachusetts Association of
REALTORS®.
The deadline to submit applications to the GBAR Nominating Committee is
July 15. Nominations of all candidates meeting the qualifications of the
office or position they seek to hold in 2008 will be carefully considered
by the Nominating Committee later this summer, with a formal slate to be
noticed to the general membership in September and subsequently presented
to the GBAR Board of Directors for vote in October.
For more information or to download the GBAR Officer & Director Nomination
packet visit
www.gbar.org.
Bedford REALTOR® Earns National Recognition
Suzanne Schmuhl-Koller wanted to own a restaurant after college. Seven
years later however, at age 29, she produced $7.5 million in real estate
sales.
“I would see the restaurant managers come in at 6 a.m. and leave at
midnight,” which is when she decided to pass on the restaurant idea and go
into real estate at age 22.
“I never thought you could get into the real estate industry at such an
early age,” she said.
Today Schmuhl-Koller, an agent with Keller Williams Realty in Westford, has
earned her ABR and CRS designations and specializes in older houses built
before 1945, or as she calls them “homes with a past.”
She also volunteers for the Bedford Historic Preservation Committee and is
renovating a Greek Revival Home with her husband.
Not surprisingly, Schmuhl-Koller’s recent success landed her in this year’s
“30 Under 30” issue of REALTOR® magazine produced by the National
Association of REALTORS®.
Where does she get the motivation?
“[I’m] just addicted to the industry,” said Schmuhl-Koller. “It really
satisfies me to bring people together. I love hearing from people saying
they love their house.”
Even in what some are calling a “soft market,” Schmuhl-Koller’s sales are
at an all-time high. “This year looks to be my best year ever,” notes the
seven-year agent.
Her advice to young REALTORS®? Build relationships, persevere and seek out
mentors.
By looking to the future several years ago, she was able to build
relationships that developed into sales today.
“Everything is not instantaneous in this business. Always do the right
thing. You help someone out and they could be your biggest client
referral.”
Talk about karma.
GBAR Members Build
Homes in Alabama
Five members of the Greater Boston Association of REALTORS® traveled to
Mobile, Alabama this past April as part of
Operation Global Village to help families displaced from Hurricane
Katrina. After five days however, the REALTORS® had become their own
family.
 The GBAR members who traveled to Alabama this year were REALTORS® Judy
Hagan of Coldwell Banker Residential Brokerage in Milton; Jonathan Polino
of Highland Real Estate in Winthrop; Yi Qian of Keller Williams Bay State
Realty in Cambridge; Steven Tomkiewicz of Landmark Holdings Company Inc. in
Dartmouth; and Nancy Wluka of Wluka Real Estate Corporation in Sharon.
Every morning the team met for an 8 a.m. meeting with
Habitat for Humanity staff to outline
their 8-hour day.
“We’d all say a prayer, get our assignments and off we’d go,” recalls
Hagan.
Those assignments included roof work, installing vinyl siding, framing, and
building closets. “You name it, we were doing it,” said Hagan.
“I learned how to do a few jobs the correct way,” laughs Tomkiewicz.
That on-the-job training prevented any serious injuries from occurring –
members only suffered pounded fingers, slivers and dehydration due to the
90-degree weather.
By the end of the day the team would go back to their hotel, shower and get
ready for dinner. Most nights they were so tired however, they’d pass out
and eventually go across the street for dinner. Then it would be back to
bed in preparation for another long day together.
“We are like best friends now,” said Tomkiewicz. “It was like you took the
REALTOR® out of them for a week…it was fabulous.”
Polino has similar sentiments. “We bonded phenomenally. I was the
youngest of the group so it was a little awkward at first, but then it was
like being with my friends back home.”
Now home, all of the REALTORS® reflect on the lessons they learned.
“We can all live with so much less,” said Wluka who also went to New
Orleans last November to work with Habitat along with Tomkiewicz.
“There’s always the other side of life,” said Hagan. “You work so hard as
a REALTOR®, but everybody has time to volunteer.”
Before leaving, all five REALTORS® donated their hours to a single-mother
named Russia who was selected to move into a home upon completing 500 hours
of sweat equity.
“It was great to help others get a new home,” said Quian.
The team is even planning a Bay State reunion this summer.
Kick Off Summer on GBAR’s Dinner Cruise
Summer is
officially here and what better way to celebrate than a sunset dinner
cruise along the Boston harbor? Join GBAR leadership and fellow REALTORS®
aboard the Spirit of Boston yacht on July 10 for a fun and relaxing
evening. Tickets are only $60, which includes parking, a cocktail hour and
dinner. We’ll also be recognizing this year’s winners of the REALTOR® of
the Year and Andrew F. Hickey Distinguished Service Awards. This year’s
ROTY nominees are Laurie Cadigan from Barrett and Company of Concord;
Louise Condon from Louise Condon Realty of Needham; and Amleto Martocchia
of Martocchia REALTORS®, Inc. of Waltham.
The docked cocktail hour begins at 6 p.m. with the ship setting sail from
7-9 p.m. This is a great opportunity for a “staff outing” and to meet new
and seasoned agents. But hurry, the registration deadline is quickly
approaching! For more information visit
gbar.org or call Kristin
Langone at 617-399-7851.
How S.M.A.R.T. Are
Your Agents?
Do your
agents have the tools and techniques necessary to thrive in today’s
market? The Greater Boston Association of REALTORS® is hosting a free
information session on the
Floyd Wickman S.M.A.R.T. program on Friday, July 13 from 10-11:30 a.m.
at the Massachusetts Association of REALTORS® offices, 256 Second Avenue in
Waltham. This session is exclusively for broker owners, office principals
and managers and will explain how this seven-session program can boost firm
productivity and prepare your agents for future success. Topics covered
will be Selling Skills; Mentor Groups; Attitude; Referral
Relationships; and Time Control – all tools successful agents need.
Studies show
graduates of the program have increased their productivity by 200 percent.
Many are
closing 30 transactions per year,
generating two
or more referral leads per week and going on at least 2 listing
appointments per week. To register contact Ramona Williams at
813-383-6995 or e-mail her at
RamonaJWilliams@hotmail.com. You can also download a
flyer and
program
benefits.
Looking to Earn CEUs?
On July
23, the Greater Boston Association of REALTORS® will be offering three
continuing education courses to cultivate and enhance your market
position. Each course will be held at the Greater Boston Real Estate Board
at 11 Beacon Street and is worth two C.E. credits. The schedule is as
follows:
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9:30 – 11:30 a.m. –
Condominiums, Cooperatives and Timeshares
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11:45 a.m. – 1:45
p.m. – Understanding Titles and Title Concerns
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2:45- 4:45 p.m. –
1031 Exchanges
Member pricing is $45 per course or $105 for the entire day. To register
or for more details, contact Kristin Langone at 617-399-7851 or at
klangone@gbreb.com |
