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November 7, 2006

T O D A Y    I S    E L E C T I O N    D A Y !
Please be sure to make your way to the polls.
Polls are open until 8:00 p.m.

Check your polling location here!

PLEASE BE ADVISED THAT THE PGCAR OFFICES WILL BE CLOSED ON FRIDAY, NOVEMBER 10 IN OBSERVANCE OF VETERAN'S DAY. PLEASE HAVE A HAPPY AND SAFE HOLIDAY WEEKEND!

 

If we want to have INFLUENCE, we must show that we are INTERESTED AND INVOLVED.

Join us and meet your county legislators on November 30 at the Greenbelt Marriott at 8 a.m. This annual event provides a forum for REALTORS® to meet with their county legislators to discuss current and proposed legislation affecting real estate and private property rights in Prince George's County. Please take advantage of this important opportunity by registering to attend. The cost is only $17.50 per person.   Register now!

 

PGCAR HOLIDAY GALA SCHEDULED FOR DECEMBER 12

Come on out for the Annual Holiday Party being held on Tuesday, December 12 at 6 p.m. The Holiday Committee is busy planning another fun-filled evening for PGCAR members and their guests... DJ, caricaturist, palm reader, door prizes, food, drink and always much, much more! Register now!

ALSO, this year we will again be collecting:

  • Coats for the needy, and
  • Food for the hungry
Help this year's campaign be the biggest ever! Please begin collecting these items in your office and deliver to the association office NO LATER THAN Friday, December 15, or bring them with you to the Holiday Party.

 

MEMBERSHIP RENEWAL DUE THIS MONTH!

Dues must be received no later than November 30 in order to prevent a late charge.
Click here and log in to view, print, and pay your dues renewal online!

 

NOVEMBER IS DESIGNATION AWARENESS MONTH!

Visit the following websites for more information on these designations:

 

NEW VENDOR FOR MAR TECH HELPLINE

Effective immediately, MAR has contracted Matthew Ferrara & Company as our new Tech Helpline source! Unfortunately, MAR was not able to carry its phone number from the previous company. The new toll-free number is 1-866-638-4411. The service allows members to ask any question related to software or hardware issues. No MLS questions though. There is essentially no wait time for the calls-this began to be a problem with the old service.

 

IRS ANNOUNCES 2007 MILEAGE RATES
The 2007 optional standard mileage rate will be 48.5 cents per mile for business miles driven, according to a November 1 IRS news release. That is up from 44.5 cents per mile for 2006. Other standard mileage rates for 2007 will be 20 cents per mile driven for medical or moving purposes; and 14 cents per mile driven in service to a charitable organization. The IRS said the higher rates for 2007 can be attributed to higher prices for vehicles and fuel during 2006. For more information, consult the IRS website at www.irs.gov.

 

BE FEATURED AS ONE OF REALTOR® MAGAZINE'S 30 UNDER 30

Rising stars of real estate will be featured in REALTOR® Magazine's "30 Under 30" feature in June 2007. Criteria include business success, leadership, and ingenuity. Nominees must be NAR members and must be 29 years old or younger as of May 31, 2007. You may nominate a colleague, or members may nominate themselves. Application deadline is January 16, 2007. For more information and to access the application form, Click Here.


 

CONTINUING EDUCATION

November 9 Real Estate Tax Issues Linda de Marlor 10:00 am - 11:30 am 1.5 CEU
MD & DC elective

November 15
MD Legislative Update Don Martin 9:30 am - 12:30 pm 3 CEU
MD Req. & DC elective
MD Fair Housing Update Don Martin 1:30 pm - 3:00 pm 1.5 CEU
MD Req. & DC elective

November 16
MAR Contract Highlights Stu Stern 1:30 pm - 3:00 pm 1.5 CEU
MD elective only
REALTOR® Etiquette & Professional Courtesies Stu Stern 3:15 pm - 4:45 pm 1.5 CEU
MD elective only

November 17
MD Real Estate Ethics Don Martin 9:30 am - 12:30 pm 3 CEU
MD Req. & DC elective
Lead Based Paint Legislation Walter Clews 1:30 pm - 4:30 pm 3 CEU
MD Req. only

December 7
MD Legislative Update Don Martin 9:30 am - 12:30 pm 3 CEU
MD Req. & DC elective
MD Fair Housing Update Don Martin 1:30 pm - 3:00 pm 1.5 CEU
MD Req. & DC elective

December 8
Home Inspections & Environmental Issues Walter Clews 9:30 am - 12:30 pm 3 CEU
MD & DC elective
Stigmatized Properties Tony Kinch 1:30 pm - 3:00 pm 1.5 CEU
MD elective only

December 13
What Every REALTOR® Should Know About Mortgages Michael Chelst 9:30 am - 12:30 pm 3 CEU
MD elective only
Maintaining Proper Records Prabhjit Singh 1:30 pm - 4:30 pm 3 CEU
MD elective only

December 15
MD Real Estate Ethics Don Martin 9:30 am - 12:30 pm 3 CEU
MD Req. & DC elective
Real Estate Tax Issues Linda de Marlor 1:00 pm- 2:30 pm 1.5 CEU
MD & DC elective

 

Code of Ethics Case Study
Case #2-6: Misrepresentation
REALTOR® A, a cooperating broker, had shown four houses to Buyer B, and Buyer B's wife had asked to see one of them a second time. There was a third inspection, and a fourth. They seemed at the point of decision but said they would like to "sleep on it." When there was no word the next day, REALTOR® A called. Buyer B said he was a bit hesitant on the price; that some transfers of executives in his company had been rumored; that this could affect him within the year; that he hesitated to buy at a price that might mean taking a loss if he should be transferred within a year.

REALTOR® A tried to reassure the prospect by telephone. Then he dictated a letter stating that the house was an exceptional bargain at the asking price and "our office guarantees to get your money out of it for you any time in the next year if you should need to sell." Buyer B came in and signed the contract.

Six months later, Buyer B came to REALTOR® A as a seller. He was being transferred. He would need to get his equity out of the house to be able to afford a purchase in the new community. REALTOR® A listed the house at the price Buyer B had paid for it. After a month there had been no offers. Buyer B reminded REALTOR® A of his written assurance that his office had guaranteed he would get his money out of the house within a year.

REALTOR® A explained that the market had become much less active and that Buyer B might have to reduce his price by $10,000 to $15,000 to attract a buyer. Whereupon, Buyer B filed a complaint with the Board of REALTORS® charging REALTOR® A with misrepresentation, exaggeration and failure to make good on a commitment. After examination of the complaint, the Grievance Committee referred it to the Professional Standards Committee for a hearing.

In response to questioning by the Hearing Panel, REALTOR® A admitted that he had written the letter to Buyer B in good faith and, at the time the letter was written, he had been certain his office could obtain a price for the property that would ensure Buyer B was "getting his money out of the house." However, REALTOR® A explained that although he had held such an opinion in good faith, the market had softened and now the circumstances were different. The Hearing Panel reminded REALTOR® A that the pertinent fact being considered was not his opinion at the time of the previous sale as compared to his opinion now, but rather his written "guarantee" to Buyer B and his current failure to make good his written commitment. It was the conclusion of the Hearing Panel that REALTOR® A had engaged in misrepresentation and was in violation of Article 2.

SPOTLIGHT SPECIAL
BUY ONE AD, GET THE 2nd AT 25% OFF!

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.

Internet Upgrade Special: That's right, when you buy a print ad, you receive an online advertisement for only $50!

Article Deadline Tuesday,
Nov. 14
  Space Reservation
& Ad Copy Deadline
Wednesday,
Nov. 15
  Publication
Date
Thursday,
Nov. 30

If you are interested in writing an article or placing an ad, please contact
Heidi Lamere at 301-731-2134, 240-888-7509 or hlamere@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  :  ©2006, PGCAR
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