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March 13, 2007

 


Join the REALTOR® March on Annapolis to

Stop Sales Taxes
on Real Estate Commissions

Wednesday, March 14, 2007

Join hundreds of your REALTOR® colleagues from across Maryland in a march on Annapolis. The day-long rally against expanded sales taxes on services starts with FREE breakfast at 8:00 am at the Miller Senate Office Building Conference Center West II, followed by a rally on Lawyer's Mall and legislative office visits. FREE lunch will be provided at 11:30 am at the Governor Calvert House. The House Ways & Means Committee will convene at 1:00 pm to hear testimony on House Bill 448. The day concludes with a FREE reception from 4:30 pm to 7:00 pm (eligible to participants attending the earlier events).

FREE bus transportation will be leaving from the Prince George's County Association of REALTORS® offices PROMPTLY at 8:30 am. The bus will depart Annapolis at 3:00 pm to return to the Association offices. You must reserve your seat prior to March 14th, as space is limited. (seats are available on a first come first serve basis).

 

PGCAR AWARDS CELEBRATION

Register Now for this evening of celebration, glitz and glamour!
Black tie is optional.

Wednesday, March 21 from 6:30 to 10:30 p.m.
at Martin's Crosswinds, (7400 Greenway Center Drive).

Program:
6:30 p.m. Reception, 7:15 p.m. Dinner, 8 to 10:30 p.m. Dancing

No reservations or refunds accepted after March 14.
Space is limited! Reservations must be prepaid. By attending the Awards Celebration Banquet you will be eligible to win one of the following door prizes, compliments of Pulte Homes: A 42" Inch Flat Screen TV, 2 Round Trip Tickets to Hawaii, Dinner for 2 at Jerry's Seafood and 2 Rounds of Golf at Renditions.

Individual tickets:
$75 March 11-14

Save by registering
a table of 10!:

$700 March 11-14

 
 

ANNUAL RPAC FUNDRAISER GOES TO VEGAS!!!

Come enjoy a night of entertainment Las Vegas style and help RPAC! Wednesday, April 25 from 6 to 9 p.m. at La Fontaine Bleu, 7963 Annapolis Road, Lanham, MD 20706. We'll have Roulette, Blackjack, Craps, Texas Hold 'Em Poker, and more. Tickets are available through RPAC Committee Members and the association office.

 

 

 

LET'S SHOW THE WORLD THAT WE C.A.R.E.

Each year, MAR gives a cash prize of $10,000 to the charity of the winning association's choice to recognize their achievements of community service and charitable actions. The award is designed to raise the profile of REALTORS® and the REALTOR® association by focusing on boards that have demonstrated an extraordinary record through direct local Association community service involvement to include endeavors by its REALTOR® Members and offices.

Prince George's County REALTORS® work harder and give more than any others, and we want to show that we are the BEST. YOU CAN HELP by providing information about the many things you and your company do within the community!

Fill out the online volunteer questionnaire here >>
It's quick and easy and only takes 2-3 minutes of your time, to possibly spotlight and win money for a Prince George's charity!

 
 

NAR MIDYEAR MEETINGS REGISTRATION NOW OPEN

Once again this year, NAR's Midyear Legislative Meetings and Trade Expo will be held in Washington, DC. The meetings are scheduled for May 14-19 and online registration for the event is now open.

Click here for more information or to register >>

 

 
 

NEW - WORKFORCE HOUSING CERTIFICATION (WHC)

March 16, 2007
9:00 - 11:00 am   "Bridging the Gap From Availability to Affordability"
11:30 am - 1:30 pm   "State and Local Programs"
2:00 pm - 4:00 pm   "Federal Programs and National Initiatives"

All 3 classes will be held at the LaFontaine Bleu, 7963 Annapolis Road, Lanham, MD. The cost is $25 which includes a continental breakfast at 8:30 a.m., lunch and a break in the afternoon. Registrations must be made by March 14.

Are you WHC? -- Increasingly, housing costs in many areas are exceeding the financial reach of many low-to-moderate wage earners, such as service-sector employees, entry-level staff and essential health personnel, as well as teachers, police and firefighters. Additionally, as many REALTORS® and lenders know, minorities and new immigrants often fall victim to discrimination and predatory lending practices. There are financial programs and tools that can help address the problem of affordability and you can learn about them. Develop your knowledge and expertise to serve this important and growing market by taking the steps to become WHC. Are you WHC?

Workforce Housing Certified (WHC) REALTORS® are specially trained to receive customer inquiries on workforce and affordable housing finance programs for selected jurisdictions. Earning this NEW certification requires completion of the following classes in any sequence: CreditSmartTM; Bridging the Gap between Availability and Affordability; State and Local Programs and Using www.MDhomeprograms.com; Federal Programs and National Initiatives.

 

CONTINUING EDUCATION

Meet all of your required Continuing Education for Maryland license renewal!
Sign up for multiple classes here!


DC Required Courses this Thursday March 15
DC Fair Housing and Predatory Lending
3.0 Required DC CEU
Prabhjit Singh 9:30 am - 12:30 pm
DC Real Estate Ethics
3.0 Required DC CEU
Prabhjit Singh 1:30 pm - 4:30 pm

MD Required Courses this Friday March 16
MD Legislative Update
3.0 MD Required CEU; 3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm
MD Fair Housing
1.5 MD CEU; 1.5 DC Elective CEU
Don Martin 1:30 pm - 3:00 pm

Thursday March 22
Contracts
3.0 Elective CEU, MD & DC
Stu Stern 9:30 am - 12:30 pm
Save 10K & Your Real Estate License
1.5 Elective CEU, MD only
Stu Stern 1:30 pm - 3:00 pm
REALTOR® Etiquette
1.5 Elective CEU, MD only
Stu Stern 3:15 pm - 4:45 pm

Thursday March 29
MD Real Estate Ethics
3.0 MD Required CEU; 3.0 DC Elective CEU
Don Martin 9:30 am - 12:30 pm

April 2007
GRI Series 100
5 classes, 30 CEU
Various Instructors 8:30 am - 4:00 pm

August 2007
GRI Series 200
5 classes, 30 CEU
Various Instructors 8:30 am - 4:00 pm

October 2007
GRI Series 300
5 classes, 30 CEU
Various Instructors 8:30 am - 4:00 pm

 

Code of Ethics Case Study: #1-15: Obligation to Advise Client on Market Value
Client A went from his hotel to REALTOR® B's office and advised that he formerly lived in the community, and had kept his home as an income property after he moved away. The house had been vacant for several months and he had decided to sell it. He asked if REALTOR® B could drive him to look at it. As they inspected it, Client A stated that he would be happy to get $80,000 for it. REALTOR® B listed it at that price and after a few days it was sold to Buyer C.

Six months later, Client A was in town again. Hoping to recover a box of old photographs he had left in the attic, he called on Buyer C, whom he had met at settlement. When he arrived he found that Buyer D then lived in the house. He expressed some surprise that Buyer C had sold it so soon, and learned that Buyer D paid $140,000 for it. Astonished, Client A then made some inquiries as to the market values and learned that he had grossly under priced his house when listing it with REALTOR® B. He went to the Board of REALTORS® office and filed a complaint against REALTOR® B charging him with unethical conduct in not having advised him as to the property's fair market value.

At the hearing, REALTOR® B's defense was that he had not been asked to put a price on the house, but had accepted agency on the basis of a price set by the client; that the client had stated he "would be happy" to get $80,000 for it; that he was glad to get a listing that would move quickly in the market; that he had done nothing unethical since he had not bought it himself; and that while he had honestly pointed out to the buyer that the house was a bargain, he had made no effort to induce relatives or business associates to buy it.

On questioning, he conceded that after looking at the house with Client A, he realized the property was being listed at about half its fair market value, but insisted that was his client's business; that different owners have different reasons for selling and pricing their property, but acknowledged that Client A had not indicated that he needed a quick sale or that he would make any price concession.

The Hearing Panel pointed out that brokers have no hesitation in advising clients that properties are overpriced when this is the case, and they are obligated to be equally candid in providing their best judgment to clients when properties being offered for sale are obviously underpriced.

The panel concluded that in view of the wide discrepancy between the owner's asking price and the property's market value, which REALTOR® B conceded was apparent to him, it was REALTOR® B's obligation as an agent to advise his client that the house was worth considerably more, especially since it was apparent that Client A had been away from the community for years and was out of touch with local values. The Hearing Panel found REALTOR® B in violation of Article 1.

SPOTLIGHT SPECIAL

BE IN THE SPOTLIGHT FOR FREE!

That's right, FREE! Write an article that would be of interest to real estate consumers and have it 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.

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

Article Deadline Tuesday,
March. 13
  Publication Date Thursday,
March. 29

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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