Printable Version      Email to a Friend

Back to REALTOR® Connection Archive

May 5, 2008

 
Save the Date!
FOR OUR 75TH ANNIVERSARY CELEBRATION ON SEPTEMBER 25

 
 
Rookie REALTOR® Society Presents. . .  Agency
THIS Thursday, May 8

At La Fontaine Bleu,
7963 Annapolis Road,
Landover, MD 20785

9:30 a.m. Registration & Networking
10:00 - 11:30 a.m. Agency Seminar, presented by Al Monshower, Esq. and approved for 1.5 Maryland CEU hours

FREE to all PGCAR Rookies. Please register in advance.

CLICK HERE TO RSVP!

 
 
MAR VOLUNTEERS - DEADLINE: Wednesday, May 14, 2008!

Join the Maryland Association of REALTORS® team and gain valuable experience through volunteering for a Committee.

If you are interested in serving on a MAR committee for 2008 - 2009, use this EASY ON-LINE SIGN UP FORM.

 
 

 

Classes include: Lead Based Paint Legislation, Contracts, MD Code of Ethics, MD Legislative Update, Building Green for REALTORS® and DC Fair Housing & Predatory Lending.

REGISTER NOW FOR BEST SELECTION OF CLASSES >>

 
 
NAR MIDYEAR MEETINGS & TRADE EXPO — Next Week!

Don't miss this FREE, valuable opportunity to learn, network, address political issues, and gather for NAR governance meetings. All of this so close to us next week, May 12-17 in Washington, D.C.

Click for more details on:

  • Education Forums
  • Legislative Meetings & Political Forum keynoting Tony Snow, Former White House Press Secretary, followed by Paul Begala & Tucker Carlson: A View from the Left & the Right
  • Trade Expo featuring over 200 Products and Services

. . . all FREE to REALTOR® members! Click here to plan your schedule.

 
GOVERNOR SIGNS HOMEOWNER PROTECTIONS INTO LAW

The Governor signed new foreclosure protections into law effective April 4, 2008. Below is a brief summary of the legislative package.

SB 216/HB 365 - Foreclosure Process
STATUS: PASSED - Effective April 4, 2008

Establishes a longer time frame before properties may be sold at foreclosure sale, and requires greater disclosure to consumers about their rights and options. Under the law, a foreclosure action could not be filed with the court before 90 days after a seller is in default. The property could not be sold at a foreclosure sale for another 45 days after that time. The law also requires that the mortgage originator license number or affidavit be attached to the recordable instrument.

SB 217/HB 360 - Mortgage Fraud Protection
STATUS: PASSED - Effective April 4, 2008

Generally defines mortgage fraud and sets significant criminal and civil penalties for individuals committing mortgage fraud. The legislation makes clear than any person intending to defraud another could be subject to penalties of up to $100,000 or imprisonment up to 20 years if engaged in a pattern of mortgage fraud. The law also authorizes the seizure of any property used in connection with mortgage fraud, or gained through mortgage fraud.

SB 218/HB 361 - Prohibition on Certain Foreclosure Transactions
STATUS: PASSED - Effective April 4, 2008

Further regulates foreclosure rescue practices by imposing new duties on foreclosure consultants, providing numerous protections to home sellers dealing with foreclosure consultants and foreclosure purchasers, and prohibits foreclosure reconveyances. The legislation makes clear that real estate licensees are not foreclosure consultants if the agents are engaged in a bona fide real estate transaction where the property is listed in the MLS and a proper settlement occurs with a third party and HUD-1. However, if a real estate agent is representing a buyer in the purchase of a For-Sale-by-Owner (FSBO), the seller will have a 5 day rescission period for the contract. This rescission period cannot be waived and begins after the parties both sign the contract.

For more information on this legislation, go to www.mdrealtor.org.

Have you made an RPAC contribution to help keep your legislators aware of important homeownership and industry needs? You may contribute here >>

 
ANNUAL CULTURAL DIVERSITY MEETING

Women's Council of REALTORS® Prince George's Chapter
and the PGCAR Cultural Diversity Committee

Present their
ANNUAL CULTURAL DIVERSITY MEETING
Thursday, June 5th

SPECIAL PRESENTERS: NAREB and MHPREIA
LOCATION: PGCAR, 8400 Corporate Drive, Suite 225, Landover, Maryland

8:30 a.m. - 9:00 a.m. Registration
9:00 a.m. - 9:30 a.m. Guest Speaker: Delegate Victor Ramirez
9:30 a.m. - 12:30 p.m. NEGOTIATING WITH DIFFERENT CULTURES
(3 hours of MD Continuing Education)

COST: $15 in Advance
(Breakfast and Lunch included in Registration)

Click Here to Register >>
PDF Flyer to Share Here >>

 
Tuesday, June 17, 2008
6:00 p.m. to 10:00 p.m.
Prince George's County Association of REALTORS®
8400 Corporate Drive
Landover, Maryland (ATRIUM)
Auctioneer: Mel Schneider, Attorney at Law
EVERYONE WELCOME!   To donate an auction item or cash,
contact Rose Marie Jung at 301.262.6900 or fax attached form
Live Auction and Silent Auction
All items sold to the highest bidder
Cash, Check or Charge
Cost: $10
Free Beer, Wine and Soda
Click to Register

 
ORLANDO NOVEMBER 7-10 2008

2008 REALTORS® Conference & Expo Registration Opened Today!

Recharge for success and refuel with new ideas at the 2008 REALTORS® Conference & Expo.

  • 4 days of intensive training with Lance Armstrong, Joe Theismann & other top achievers who will share their success stories with you!
  • Broker, sales agent, commercial, IT, International, entrepreneurial excellence, customer service, property management - 200 programs to fit your needs!
  • Over 700 exhibitors so you can shop, compare and save on the best fit for you.
  • Sunday night at Universal Studios, with Kool & The Gang.
  • Six hotels priced at $99 or less.

Details and registration now online at www.realtor.org!

 
NAVIGATING THE NEW CREDIT ENVIRONMENT
2008 NAR President Dick Gaylord explains how REALTORS® can help their clients get the lowest cost financing in this new credit environment.

 
 
REALTOR® MAGAZINE SEEKS ENTRIES FOR GOOD NEIGHBOR AWARDS

The Good Neighbor Awards recognize REALTORS® who've made an extraordinary commitment to improving the quality of life in their communities through volunteer work. Five winners will receive $10,000 grants for their cause. Application deadline is May 23.

Visit www.realtor.org for more information and the nomination form.

 
 
VOLUNTEER FOR A NAR COMMITTEE

Members! 2008 NAR First Vice President Vicki Cox Golder issues a dare to members — Join an NAR committee! — and explains how to go about it.

We encourage you to nominate yourself and others whom would make good leaders. You will find additional information in the NAR Governance: Committees section of REALTOR.org, including a PowerPoint Committee Leadership training presentation, and Committee Leadership Orientation Resources.

Submit your application or nomination soon — deadline is May 27.

 

 
CONTINUING EDUCATION

You can earn ALL of your Continuing Education requirements for both the Maryland and DC license renewals-- or for your GRI -- right here at PGCAR, including opportunities in these next 2 weeks for required Maryland categories.   Now that's easy!


This Friday, May 9
MD Legislative Update®
3.0 MD Required Legislative Update CEU; 3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm
MD Fair Housing Update®
1.5 MD Required Fair Housing CEU; 1.5 DC Elective CEU
Don Martin 1:30 pm - 3:00 pm

Thursday, May 15
Agency Law
3.0 MD Required Legislative Update CEU
OR 3.0 MD Elective CEU
Stu Stern 9:30 am - 12:30 pm
How to Save 10K & Your Real Estate License
1.5 Elective CEU; MD and DC
Stu Stern 1:30 pm - 3:00 pm
REALTOR® Etiquette & Professional Courtesies
1.5 Elective CEU; MD and DC
Stu Stern 3:15 pm - 4:45 pm

Monday, May 19
MD Code of Ethics
3 MD Required Ethics CEU; 3 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

Tuesday, June 3
Photography for REALTORS®
No CEUs
Joseph Pruden 6:00 pm - 8:00 pm

Wednesday, June 4
Commercial Property
3.0 MD CEU Pending/No DC CEU
Rick Brown 9:30 am - 12:30 pm

Friday, July 11
GRI Series II - FULL SERIES of 5 Classes
30 Elective CEU, MD
8:30 am - 4:00 pm

Friday, October 3
GRI Series III - FULL SERIES of 5 Classes
30 Elective CEU, MD
8:30 am - 4:00 pm

 

Code of Ethics Case Study: Case #8-1:
Failure to Put Deposit in Separate Account

REALTOR® A, a listing broker, obtained a signed offer to purchase, together with Buyer C's check for $5,000 as an earnest money deposit. Buyer C's offer was subject to the sale of his current residence. REALTOR® A presented the offer to Seller B who accepted it. REALTOR® A then inadvertently deposited the earnest money check in his personal checking account. Since Buyer C's offer was contingent on the sale of his current home, Seller B's house remained on the market. A week later, REALTOR® A received another offer to purchase Seller B's house from another broker and presented it to the seller as a back-up offer. Buyer C was informed about this new offer and reluctantly concluded that he would be unable to waive the sale contingency or proceed with the purchase of Seller B's house. He then asked REALTOR® A for his $5,000 check back. REALTOR® A explained that he had mistakenly deposited Buyer C's check in his personal bank account which had been attached since he received Buyer C's offer, and he was temporarily unable to refund the deposit to Buyer C.

Buyer C filed a complaint with the Board of REALTORS®, which was received by the Grievance Committee. The Grievance Committee concluded that the complaint warranted a hearing and referred it to the Professional Standards Committee. At hearing, REALTOR® A explained that his bank account had been unexpectedly attached following the loss of a civil suit which he was appealing; that his deposit of Buyer C's check in his personal account was a simple error in handling deposit slips; that he was arranging for the prompt release of his account; and that everything would be straightened out in three or four days, which should not be of great inconvenience to Buyer C.

Based on your understanding of the Code of Ethics Article 8, how do you think the Professional Standards Panel ruled?

Find out here >>

SPOTLIGHT SPECIAL

BE IN THE SPOTLIGHT FOR FREE!

That's right. Write an article that would be of interest to real estate consumers and submit it to Karey Major for a chance to be published in the Official Homes Section of The Prince George's County Association of REALTORS®, brought to you by The Gazette. This is a special pullout FULL COLOR supplement reaching over 127,000 homes and businesses in Prince George's County.

Article Deadline TODAY, May 5   Ad Copy Deadline Tuesday, May 6   Publication Date Thursday, May 22

If you are interested in writing an article or placing an ad, please contact
Karey Major at 240-473-7588 or kmajor@gazette.net.

Prince George's County Association of REALTORS®
8400 Corporate Drive  :  Suite 225 : Landover MD 20785
Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2008, PGCAR

Back to REALTOR® Connection Archive