July/August 2012 Update Magazine

NVAR ReAltoR® update July :: August 2012 http://go.nvar.com/1204 1

published by the northern virginia association of realtors®

July/August 2012

RealtoR®

inside:16 Ask NVAR: Residential Property Disclosure Act

28 NVAR Legal Hotline: New Online Benefit

36 Become an “Ask Me!” Ambassador

‘Tough Listing’ TacticsHow to Move a Less-than-Perfect Property

http://www.genesis.virginia.remax.com/


RealtoR®

Interested in advertising? Please call 703. 207. 3206 for information.

July/August Volume 95, Issue 4

2012 BOARD OF DIRECTORSChairman of the Board: Pat Kline, CIPS, GREEN, GRI, SRES, TRCChairman-Elect:Jon WolfordImmediate Past Chairman:Karen TrainorSecretary/Treasurer:Mario Rubio, CIPS, SRES

DIRECTORS-AT-LARGEBob Adamson, CRS, GRIJulia Avent, ABR, CRS, GRIMary Bayat, GRIBrian Block, ABR, CRS, e-PRO, GRI, SRESHeather Embrey, ABR, e-PRO, GRI, SRS, SRES, SFRVirgil FrizzellSuzanne Granoski, ABR, ASP, CDRS, GRISita Kapur, CRS, GRIShane McCullarThai-Hung Nguyen, ABR, CRS, SFRPeter Rickert, ABR, e-Pro, GREEN, ESRESNancy Harvey Steorts, ABR, GREEN, GRI, TRC

Publisher/CEO: Christine M. Todd, CAE, RCEEditor-In-Chief: Jill Parker LandsmanManaging Editor: Ann GutkinAssociate Editor: Amy LarrabeeAdvertising Sales: Tracy ReynoldsGraphic Designer: Wanda Ng FontanaContributors: Capricia Alston, George A. Hawkins, Michele Lerner, Lisa Vierse May, Liz Milner, Dr. Lisa A. Sturtevant and Maggie Mueller-Tyler

The Realtor® update (ISSN 10988475) is published bi-monthly by the Northern Virginia Association of Realtors® as follows: combined issues for January/February, March/April, May/June, July/August, September/October and November/December. Periodicals postage paid at Fairfax, VA 22030 and additional mailing offices. Subscriptions account for $19 of each member’s annual dues. Annual subscriptions are available to non-members for $39. Subscription inquiries may be sent to the Realtor® update at the address below. Copyright 2012 by the Northern Virginia Association of Realtors®. All rights reserved.

Postmaster: Please send address changes to: Realtor® updateNorthern Virginia Association of Realtors®8407 Pennell Street Fairfax, VA 22031-4601

Telephone: 703. 207. 3200 | FAX: 703. 207. 3268Web: nvar.comE-mail: [email protected] Advertising Info: [email protected]

By Pat Kline, 2012 Chairman of the Board

The weather may be hot, but there are no summer doldrums here at NVAR. Your Board of Directors has been busy finding ways for our members to increase their business while saving money.

I’m sure you’ve all seen the pictures from the May 17 NAR Rally to Protect the American Dream in Washington, D.C. More than 13,000 Realtors® from all over the country attended. There was a very strong showing from the Virginia associations, especially ours! Friends and colleagues from our forums, committees, affiliates, leadership and staff all enjoyed the energy generated by NAR President Moe Veissi.

I was especially touched by some of the speakers, including several Realtors® who had immigrated to the U.S. and described how committed they were to the American dream of homeownership because their families had struggled for years to make that a reality. In case you missed the rally, take a look at photos of some of our NVAR participants found on page 38.

On the heels of the synergy created by the rally, NVAR has committed to help improve the public perception of real estate as a path to stability and prosperity. Before press time, we launched a media campaign to share the news that our local market is picking up, and that inventory and interest rates are low. Read the article on page 36 to learn more about this ambitious “Ask Me!” program, and what you can do to participate. Please do your part by discussing our positive local metrics with your clients, friends and colleagues! Increased consumer confidence translates to a stronger economy and expanding business for our industry

Now to the money saving part: This issue contains important information about our 2013 dues renewal process. I’m proud to say that NVAR’s $40 reduction in 2013 SentriLock fees and no dues increases (for the 13th year I might add!) means we’re priced lower and offer more services than any local association around. Did you know that NVAR members now pay just $83 + tax for SentriLock NXT wireless lockboxes? As current members, you know that NVAR is increasing our offerings to you while reducing your costs. Our pledge to our members is to continue to do so. See page 29 for a reminder about the excellent new benefits that NVAR members enjoy.

I hope all of you have a great summer. Remember to take an occasional break from your busy schedules to spend time with family and friends. And let’s get our economy going by listing and selling some real estate!

Want to Make the Most of Our Hot Summer Market? ASK ME how.

2012 Chairman of the Board

Ads in Update magazine do not necessarily carry the endorsement of NVAR.

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3Chairman of the Board Want to increase your business and save money? Ask Me how!

8Government AffairsNVAR announces 2013 advocacy priorities.

12Market UpdateWith a strengthening housing market, Northern Virginia continues to benefit.

16Ask NVAR: Residential Property Disclosure ActReal estate licensees must inform parties to a transaction of their rights and obligations under the Act. Are you prepared to answer their questions?

29Membership: What’s Cooking at NVAR?Learn about some exciting changes to member benefits and services.

this issue: tough listings columns

6 Wanted: NVARtifacts

7 Area Legislators Feted at Legislative Reception

10 Voting on Proposed Bylaw Amendment: October 9 Annual Meeting; Tax Rates Effective July 1

11 Vietnamese Delegation Visits NVAR

14 Broker News – FTC’s Business Opportunity Rule

20 Real Estate Finance Panel Covers the Angles of the Financial Landscape

23 Agents Need to Know: Call-Before-Showing Codes; Updated 511 Traffic Info Line

28 NVAR Legal Hotline: Member Benefit Online Soon

30 Fruits of Their Labor: Agents Honored for 2011 Sales Club Milestones

31 Fair Housing Luncheon Spotlights Federal, State and Local Laws

32 Every Drop Counts: NVAR to Host Second Blood Drive on Wed., July 25

34 NAR Survey Offers NoVA Perspective

36 Become an “Ask Me!” Ambassador and Share Your Knowledge with Consumers

38 NVAR Realtors® Help Raise Awareness at May 17 NAR Rally

40 NV/RPAC Contributors Recognized

42 Class Schedules/ABR Graduates

44 New Members Welcomed

45 Appraiser & Affiliate Directories

24How to Move a Less-than-Perfect PropertyStrategies for preparing and marketing a difficult listing.

The views expressed in this publication may not reflect NVAR policy, and may be the opinions of the writer or interviewee.

Save the Date 6 Oct. 9 Politics & Pancakes

10 Oct. 9 Convention & Trade Show

32 Jul. 25 NVAR Blood Drive 37 Sept. 13 Economic Summit

6 http://go.nvar.com/1204 July :: August 2012 NVAR ReAltoR® update

Wanted: NVARtifactsShare Your Industry Memories, Memorabilia, Mementos For An NVAR Chronicle

Be part of an exciting project

to celebrate NVAR’s rich

history in Northern Virginia.

We seek members who can

offer stories and artifacts

from the early days of our

association. The anecdotes or

materials will be a part of a

timeline display in our Fairfax

headquarters, and possibly a

keepsake publication. If you

have something to share about

“the way things were,” or know

of someone who might, please

contact [email protected].

NVARtifacts

http://nvar.com/education-announcements/rpr-classes-are-coming-soon-to-nvar


legislative reception

Area Legislators Feted at Annual Legislative ReceptionWhile it may be important to take time to smell the roses, it is equally important to take time out to thank those who represent you. Each year, NVAR tries to do just that. Members of NVAR’s Government Affairs Committee hosted a Legislative Reception at the Fairfax Headquarters on May 9 to thank this region’s elected officials for their work on behalf of private property rights. The annual event, sponsored by affiliate member Ekko Title, drew 22 legislators and more than 100 NVAR members.

Addressing the audience, Government Affairs Chairman Tom Meyer thanked the legislators for their support of real estate measures that affect our members and their clients.

During the 2012 session, elected officials from Northern Virginia worked on Realtor® legislation that included revisions to agency laws, regulation of appraisal management companies and improving landlord-tenant relations. Meyer also encouraged the Northern Virginia delegation to join together in support of measures that would address regional traffic gridlock to achieve a better outcome for area commuters.

1. Spreading good cheer and thanking their legislators at the reception are (l-r): Board Member Mary Bayat, NV/RPAC Co-Chair Thai-Hung Nguyen, Candice Bower and Rocio Duty.

2. Former Government Affairs Committee Chair Virgil Frizzell (center) joins Del. Barbara Comstock (left; R-34) and NVAR member Roshan Carter to discuss the General Assembly successes.

3. Delegates (l-r) Charniele Herring (D-46), Tag Greason (R-32), Vivian Watts (D-39) and Mark Sickles (D-43) were among the elected officials thanked for their service. Delegate Greason sponsored two Realtor® landlord-tenant bills during the 2012 legislative session.

4. Former NV/RPAC Chairs and NVAR Chairmen of the Board Jane Quill (left) and Susan Mekenney express their gratitude to Sen. Chap Petersen (D-34) in the NVAR atrium.

5. Local and state legislators from both sides of the aisle put politics aside to spend time with constituents and colleagues. Pictured (l-r): Del. David Bulova (D-37), Sen. Dave Marsden (D-37), Del. Dave Albo (R-42), Del. Eileen Filler-Corn (D-41) and Supervisor Pat Herrity (R-Springfield).

6. Del. Alfonso Lopez (left; D-49), who will be a delegate to the Democratic National Convention in Charlotte, N.C., is joined by NVAR member Connie VanDerpool and NVAR Board Member Bob Adamson.

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government affairs

A number of industry issues were recommended by the NVAR Government Affairs Committee and approved by the NVAR Board of Directors for inclusion in the 2013

NVAR Legislative Program. These issues will be forwarded to the Virginia Association of Realtors® for discussion and possible inclusion in the statewide Realtor® legislative agenda for 2013.

ENVIRONMENTAL INITIATIVESNVAR supports voluntary incentives to encourage energy efficiency, open space preservation and green building practices, but opposes environmental mandates that restrict private property rights, increase the cost of development or impede the transfer of real property.

While promoting building and site sustainability is a worthy policy goal, NVAR believes that a diverse and affordable housing stock is a key component of the overall vision of “sustainable development.” NVAR has long supported incentives such as density bonuses, tax relief, loan programs, or expedited permitting to encourage green building practices. NVAR urges state and local governments to keep green building and other energy efficiency measures voluntary rather than imposing mandates that restrict private property rights and increase the upfront costs of development.

GRANTOR’S TAX CALCULATIONSNVAR supports legislation to clarify that calculations of the real estate grantor’s tax should be made based on the market value of the property rather than the tax assessment value.

Using the assessed value as a basis for grantor’s tax collections can be highly inaccurate. The tax assessment is a snapshot taken at a particular time and may reflect market conditions that are more than one year out of date. Assessments may also be based on inaccurate information about the square footage of the dwelling, the number of bedrooms or bathrooms and the interior improvements.

INDUSTRY COMPETENCY AND PROFESSIONALISMNVAR supports legislation to enhance the knowledge and professionalism of Virginia’s real estate licensees.

In the past decade, Realtors® have sought and obtained General Assembly approval on legislation addressing the core competency of real estate licensees, including additional pre- and post-licensing education requirements and background checks for new licensees. However, more attention can be given to the oversight and practice of real estate outside of the classroom. The practice and regulation of real estate agents operating as sales teams is one area under consideration. NVAR supports a comprehensive study of initiatives to ensure a professional and responsive real estate industry.

POA AND CONDO LOAN APPROVALNVAR supports legislation to address delays in receiving required information from Condo and Homeowners’ Associations regarding the number and percentage of investor-owned properties and delinquent units within the development.

GSE and FHA loans currently comprise a substantial portion of the lending market to homebuyers, particularly first-time buyers requiring lower down-payments and affordable interest rates. The availability of this information is critical to those buyers and ultimately determines whether they can purchase a unit in a particular development.

PROPERTY RENTAL RESTRICTIONSNVAR opposes unreasonable restrictions on the ability of homeowners to rent their properties.

Increasingly, homeowners are prevented from exercising the rental option because of community prohibitions on the practice. It is not uncommon to find a cap on the number of rental units permitted in a condominium or community association, or additional fees placed on unit owners who rent. In rare instances, developments have banned homeowners from renting their units under any circumstances. Instituting barriers to, or outright prohibitions on, renting diminishes private property rights and may result in additional foreclosures that delay our economic recovery.

TRANSPORTATION FUNDINGNVAR supports increased investment in the Commonwealth’s transportation infrastructure using sustainable broad-based sources of new funding.

A well-functioning transportation system is essential to Virginia’s short-term economic recovery and long-term economic prosperity.


NVAR Announces 2013 Advocacy PrioritiesGRANTOR’S TAX CALCULATIONS, SALES TEAM REGULATIONS, TRANSPORTATION

FUNDING ON ThE RADARBy Lisa Vierse May, Government Affairs Manager

government affairs

Businesses and their employees will not choose to locate in an area where transportation gridlock hinders their ability to recruit staff and move their products. NVAR supports efforts of our local and state elected officials to provide more funding for transportation. Reallocations to localities, bonds, private investment, tolls and dedication of existing revenues alone will not solve the funding problem. For this reason, NVAR is also supportive of new taxes and fees directly related to the use of Virginia’s road network, including dedicated increases in the wholesale gasoline tax, vehicle sales tax, vehicle registration and inspection fees and rental car taxes.

In addition, the Legislative Program restates NVAR’s support of the following positions of the National Association of Realtors®:

COMMERCIAL MORTGAGE MARKET LIQUIDITYNVAR supports efforts to enhance liquidity in the commercial real estate market to support economic growth.

CONDO POLICY AND APPROVAL PROCESSNVAR supports efforts to increase lending options to potential condominium purchasers by reducing the current FHA, Fannie Mae and Freddie Mac project owner-occupancy requirements.

GSE REFORM, FINANCING AND LOAN LIMITSTo endure mortgage liquidity in all markets, NVAR supports the enactment of legislation to restructure Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) in a manner that provides the federal government with a continued role in the secondary market. NVAR also supports the enactment of legislation that (1) makes permanent the higher GSE and Federal Housing Administration loan limit formula and caps, and (2) strengthens the FHA mortgage insurance program in order to provide safe, affordable financing for all borrowers in all markets.

MORTGAGE INTEREST DEDUCTIONNVAR vigorously opposes the elimination, reduction or conversion of the current Mortgage Interest Deduction.

PROPERTY INSURANCENVAR supports efforts to adopt legislation that encourages the availability and affordability of property insurance, including a long-term reauthorization of the National Flood Insurance Program and natural disaster coverage.


http://www2.etitleagency.com/


bylaw amendment

Official Notice: Proposed Bylaw AmendmentVOTING TAKES PLACE AT TUES., OCT. 9 ANNUAL MEETING

At the NVAR annual meeting, which will take place on Tuesday, October 9 at the NVAR Convention & Trade Show, members will have an opportunity vote on an amendment to the NVAR Bylaws. This notice is offered pursuant to Article XIX of the NVAR Bylaws.

New Property Tax RatesEFFECTIVE JULY 1, 2012Residential real estate property taxes changed for many Northern Virginia homeowners on July 1. Below is a list of current tax rates for local jurisdictions.

FY 2012-2013 Residential Real Estate Tax RatesAll rates are per $100 of assessed value

City of Alexandria $0.998

Arlington County $0.971

Town of Clifton $1.075

City of Fairfax $1.01

Fairfax County $1.075

City of Falls Church $1.27

Town of Herndon $0.265 + Fairfax County Tax

Loudoun County $1.235

Prince William County $1.209

Town of Vienna $0.2421 + Fairfax County tax

Commercial Property Tax – Transportation SurchargeThese amounts are in addition to the general tax rate above

Arlington County $0.125

City of Fairfax $0.055

Fairfax County $0.11


vietnamese delegation

Visitors from Vietnam Study Local Real Estate Market, Finance and Green Building PracticesVINh NGUYEN OFFERS DAY OF LEARNING AbOUT MARKET REALITIES

Earlier this year, a 25-member delegation of real estate professionals and developers from the Vietnam National Real Estate Association paid a working visit to NVAR. Hosted by NAR President’s Liaison to Vietnam and former NVAR Chairman, Vinh Nguyen, the group’s primary goal was to learn more about U.S. real estate opportunities, especially in the metro Washington, D.C. region.

“They were also interested in the U.S. mortgage financing market and the latest technology and construction products,” said Nguyen, “including the latest in green technology.”

In his capacity as President’s Liaison, Nguyen traveled to Vietnam in March, and met with the Vietnam National Real Estate Association in Hanoi and the Real Estate Association of Ho Chi Minh City. Featured on television and in other media interviews, Nguyen shared the experience of U.S. real estate professionals in coping with an economic recession and real estate market downturn.

The Vietnamese delegation that toured NVAR’s building hailed from Hanoi, Hai Phong, Ha Tinh and Ho Chi Minh City (formerly Saigon). They were amazed by the beauty and size of NVAR’s Gold LEED certified building. “They were excited when they saw deer running on the side of the building from the board room windows,” remarked host Vinh Nguyen.

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market update

The Sunny Northern Virginia Housing Market, Shaded by Political Uncertainty, Still Shows Signs of Moderate Gain

By Lisa A. Sturtevant, PhD George Mason University School of Public Policy

The Northern Virginia housing market has been one of the most resilient in the nation.

While the region experienced a substantial drop off in sales activity and price declines when the housing bubble burst, sales have been stable or increasing and prices have been on the rise in the region since late 2009. As many other parts of the country—and other parts of the Washington region—continued to experience weakening prices, the NVAR region has been seeing steady price growth.

Foreclosures and short sales have not been a drag on prices in Northern Virginia in the same way that they have in other regions. The region’s relatively strong economy attracted thousands of new residents and supported homeownership in Northern Virginia in recent years. Prices will continue to be firm and sales activity should be stable in 2012; however, the uncertain political climate remains a cloud over what would otherwise be a sunny landscape in the NVAR region.

The housing market recovery began much earlier in Northern Virginia than it did even in other parts of the Greater Washington region. Sales had peaked in June of 2004 when there were 4,115 sales in the region. While sales dropped off in 2007 and 2008, sales activity picked up in late 2009. Some of the increase in sales activity in late 2009 and early 2010 was due to the federal homebuyer tax credit, which expired for the first time in December 2009 and then was extended to June 2010. The region’s strong job growth also supported the rise in home sales.

In the middle of 2010, after the second expiration of the federal homebuyer tax credit, sales tapered off, indicating that some sales that occurred in late 2009 and early 2010 were sales that would have occurred anyway but were pushed earlier to take advantage of the tax credit.

Prices began to rise—substantially in some neighborhoods—in late 2009 and into 2010. Median sales prices in the NVAR region were up more than 12 percent in the first quarter of 2010 compared with the first quarter of 2009. Prices had peaked in Northern Virginia in June of 2006, and by the summer of 2010 median sales prices in the NVAR region returned to that level.

By contrast, other places in the Virginia suburbs have not yet recovered fully from the downturn. For example, in Prince William County there was rapid sales activity and price appreciation in early 2010, largely driven by investor purchases of distressed sales in the county. Those distressed sales kept prices low, however, and even now prices in Prince William County are about 60 percent of peak prices. In Loudoun County, where distressed properties were not as big a problem, prices are still only at two-thirds of peak levels.

In the Maryland suburbs, where the downturn occurred later, the recovery has also begun later. In Montgomery County, prices have only been on the rise since spring of 2011. This past April, Prince George’s County saw its first price increase since the bubble burst.



market update

A Cloud of Uncertainty

The sunny progress of the NVAR housing market has cooled slightly as a result of the uncertainty that clouds the national and regional economies. Recent national jobs reports have been discouraging, with the number of jobs added in May only about half of what analysts expected.

While the U.S. unemployment rate has fallen in recent months, the decline is mostly due to people dropping out of the labor force rather than people finding jobs. Consumer confidence had been on the rise late last year, but the most recent data show that many households remain uncertain about both their present and future economic situations.

Much of the wariness in public sentiment stems from uncertainty about what Congress and the Obama administration will do in coming months. It is unclear how the expiration of the Bush tax cuts will be handled or whether the federal spending cuts will happen as scheduled. This uncertainty weighs on households and businesses, making them less likely to make big changes, like buying a house or expanding payroll.

The Washington metropolitan area is also experiencing this uncertainty. Local anxiety levels are heightened somewhat because of the disparate impact that possible cuts to federal spending could have on our region. While the scheduled cuts are not as dire as are sometimes reported, they would have an effect on businesses in the region and on the local housing market.

The Washington area is still adding jobs in the second quarter of 2012, but at a slower pace than last year. Other parts of the country have begun to outpace us in terms of job growth. Between April 2011 and April 2012, the Washington region added 34,500 jobs, but places like Dallas, Houston, Chicago and even Phoenix added more jobs than we did in April.

The Professional and Business Services sector, which includes relatively high wage jobs in government

contracting, has seen sluggish growth with only 2,000 jobs added in April. Some of this slower growth is due to the caution some federal government contractors are exercising as they wait to see what is going to happen with the federal budget. Many of these firms have enough work to hire new staff, but they are taking a “wait and see” approach as the debate continues in Congress about spending cuts. A slowdown in new hires means a slowdown in new people moving to the area and slower growth in the demand for housing.

At the same time that the Professional and Business Services sector has been growing more slowly, there have also been losses in federal government employment. The fact that we are experiencing slow growth or negative growth in these generally higher wage jobs puts downward pressure on the demand for owner-occupied housing in the region.

The Forecast Ahead

These uncertainties will persist, at least through the November elections. And the uncertainty will dampen—though not stall—the recovery in the Northern Virginia housing market. It is anticipated that prices will continue to rise in the region in 2012 and that sales will be stable.

There are several positive signs that will help the continued recovery in Northern Virginia. First, during the housing bust, there was a significant decline in household formation. Adult children living with parents, roommates staying in roommate situations when they would rather be on their own—these trends meant lower rates of household formation. There is evidence that the rate of household formation is on the rise. Some of these new households will be renters, but others will be considering and pursuing homeownership.

Second, while the Washington region is in a period of economic uncertainty, the Northern Virginia area benefits from relatively strong economic growth and a well-educated, highly skilled labor force that will continue to attract private sector businesses. This relative strength will benefit the local housing market.

And finally, homebuyers in the Washington region have been demonstrating a preference for locations closer to transit and to job centers. Whether these preferences reflect a response to relatively high gas prices, or are indicative of a more general sea change in housing demand, the NVAR region has an advantage over many other places in the D.C. Metro area.



broker news

FTC’s Business Opportunity Rule

The Federal Trade Commission’s (“FTC”) Business Opportunity Rule (“BOR”) is an outgrowth of the FTC’s Franchise Rule. A “business opportunity” is typically offered as a “turnkey” business, where the tools needed to operate the business are provided to the buyer by the seller in return for a payment. While the BOR isn’t likely to affect the operations of most real estate brokerages, brokerages that actively recruit new licensees need to be familiar with the BOR, which took effect on March 1, 2012.

business Opportunity Rule

A “business opportunity” has three elements: first, a seller must solicit a prospective purchaser to enter into a new business; second, the purchaser must make a “required payment”; and third, the seller must promise to provide one of the three types of business assistance set forth in the BOR. If the BOR applies, then the prospective seller must provide an FTC-mandated one-page disclosure form that is attached to the BOR. The BOR only applies to the recruitment of new entrants into the business, and so would only affect Brokerages that recruit new licensees. Visit go.nvar.com/BOR to download the BOR and the required disclosure form.

Examples provided by the FTC as to what constitutes a “business opportunity” are vending machine/rack displays, work-at-home businesses, medical billing, and multilevel marketing (i.e., Amway-type operations). These transactions usually involve a fairly simple contract which does not require the extensive disclosures needed in a franchise situation.

A brokerage that needs to comply with the BOR will need to closely review the BOR’s disclosure requirements, and it is recommended that the brokerage work with legal counsel when making these disclosures. The required disclosure form contains the following information: the seller’s identifying information; whether the seller makes an earnings claim (if so, will need to provide additional information to support the claims); any legal actions brought against the seller; the seller’s refund or cancellation policies; and list of purchasers who acquired the opportunity within the prior three years.

bOR’s Impact on Real Estate brokerages

As stated above, the BOR will impact brokerages that actively solicit new licensees and thus satisfy the BOR first prong. If a brokerage satisfies the solicitation prong, it will need to review the other two prongs to determine if it is subject to the BOR.

The “assistance” prong is the most important consideration for brokerages that actively solicit new licensees. The relevant “assistance” section states that the BOR is triggered when the solicitation promises “assistance” to the “buyer” (in this case, the salesperson) in return for a payment. Business “assistance” constitutes “providing accounts, including but not limited to, Internet outlets, accounts, or customers for prospective purchaser.” The BOR also states that “advertising and general advice about business development and training shall not be considered” as providing the assistance triggering the BOR.

A brokerage that does not want to trigger the BOR needs to be careful about the tangible assistance it promises to provide to salespeople, such as a customer list or other tangible support. The BOR is designed to cover a business model where the buyer purchases all of the tools needed to enter the business. Salespeople are traditionally left to develop their own real estate business, and so brokerages do not usually provide the assistance required by the BOR. However, if the necessary “tools” to enter the business are promised to a salesperson in a solicitation, then the BOR may be triggered.

Examples of the types of assistance that may trigger the BOR would be the promise of a client list or other types of lead assistance, such as promising a salesperson all the leads from a property development. Another type of support which could qualify as assistance would be the promotion of a training program as leading to success of salespeople. While the rule excludes general advice, advertising, and training from its definition, the BOR could apply if certain representations are made about any of those elements in the solicitations it makes to salespeople,


http://ftc.gov/os/fedreg/2011/11/111122bizoppfrn.pdf


broker news

such as the example above about the training program. The more “assistance” that a brokerage promises to the salesperson in its solicitation in return for joining the brokerage (and also a payment), the more likely the BOR could be triggered.

The “required payment” section is another prong in the test. If a brokerage has solicited a salesperson, promised tangible assistance covered by the BOR, and then requires a direct payment to the brokerage, the brokerage would be covered by the BOR. It is less clear whether a brokerage would need to make the required disclosures if it met the other two prongs but didn’t require a direct payment in return for the assistance promised, and instead simply retained a portion of all the salesperson’s commissions.

The commentary accompanying the BOR does not elucidate whether the required payment element would be satisfied in the traditional brokerage arrangement, where the broker receives all of the salesperson’s commissions and provides a prearranged payment split to the salesperson. Therefore, a brokerage seeking to avoid making the BOR’s required disclosures should focus on

the assistance promised in its solicitation, as that is the clearest way for a brokerage to avoid triggering the BOR.

Penalties

Failure to comply with the BOR’s disclosure requirements within seven calendar days of the earlier date of the buyer signing the contract or making a payment to the seller constitutes an “unfair or deceptive trade practice.” The FTC can seek civil penalties of up to $16,000/day per violation, which adjusts periodically to account for inflation. However, in addition to seeking civil penalties, the agency can also seek equitable monetary relief for consumer redress or the disgorgement of ill-gotten gains.

Conclusion

The BOR impacts any brokerage that actively solicits new licensees and offers tangible assistance to the salesperson in return for a required payment. Brokerages should review their recruiting solicitations to determine if they are impacted by the BOR.

Copyright National Association of Realtors®, Reprinted with permission.


http://www.ekkotitle.com/


ask NVAR

Residential Property Disclosure ActWhAT EVERY REALTOR® MUST KNOW

By George A. Hawkins, Esq.

Virginia’s Residential Property Disclosure Act (Virginia

Code §55-517 et seq.) requires real estate licensees

to inform the parties to a transaction with whom

they deal of their rights and obligations under the Act. As a

licensee providing this information to clients, you must be

prepared to answer any questions and to furnish them with a

copy of the Act at their request.

When does the Act apply?

The Act applies to sales, exchanges, installment sales or leases with option to purchase of residential real property improved with one to four dwelling units.

When won’t the Act apply?

The Act does not apply to sales of new homes (subject to certain exceptions discussed below); transfers pursuant to court order (in estate administration, pursuant to writ execution, foreclosure, bankruptcy, condemnation, or by decree for specific performance); transfers among co-owners; transfers among spouses; transfers among parents or grandparents and their children or grandchildren; tax sales; transfers involving a government or housing authority.

https://www.wellsfargo.com/


ask NVAR

What does the Act require a seller to do?

The Act requires sellers to furnish purchasers with a disclosure statement developed by the Virginia Real Estate Board.

When does a purchaser get a disclosure statement?

A purchaser must be furnished with a disclosure statement signed by the seller prior to final ratification of the purchase contract. If such statement is not received by final ratification, the purchaser’s sole remedy shall be to terminate the purchase contract by sending written notice to the seller either by hand delivery or U. S. Mail, postage prepaid, at or prior to the earliest of (i)three days after receiving the statement (if delivered in person); (ii) five days after postmark (if sent by U. S. Mail, postage prepaid); (iii) settlement; (iv) occupancy by purchaser; (v) purchaser’s making written application for a mortgage loan if such application discloses that the termination

right ends upon application; (vi) purchaser’s execution of a written waiver of the right to terminate (such waiver may not be in the purchaser contract).

What does the disclosure statement say?

Purchasers are advised to consult the DPOR webpage. The statement will direct purchasers to the Residential Property Disclosures web page (dpor.virginia.gov/dporweb/reb_consumer.cfm) for important information about the real property.

What is disclosed by the seller?

A seller, in furnishing a disclosure statement, makes no representations or warranties as to the condition of the property or any improvements located thereon, nor with respect to the matters set forth and described at the Residential Property Disclosures web page (dpor.virginia.gov/dporweb/reb_consumer.cfm).

continued on page 18

http://www.dpor.virginia.gov/




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ask NVAR

What should a purchaser do?

Purchaser is advised to exercise whatever due diligence purchaser deems necessary, including a certified home inspection, as defined in §54.1-500, in accordance with the terms and condition of the purchase contract, but in any event prior to settlement.

What must builders do?

A builder of a new home must disclose to a purchaser in writing all known material defects which would constitute a violation of any applicable building code. In addition, for property located wholly or partially in any locality comprising Planning District 15 (the City of Richmond, the Town of Ashland, and the counties of Charles City, Chesterfield, Goochland, Hanover, Henrico, New Kent and Powhatan), the builder (or seller, if the owner is not the builder) shall disclose in writing whether mining operations have previously been conducted on the property or the presence of any abandoned mines, shafts or pits. This disclosure does not abrogate any warranty or other obligations that the builder may have to the purchaser, and must be made (i) when selling a

completed home, before acceptance of the purchase contract, or (ii) when selling a home before or during construction, after issuance of a certificate of occupancy. No disclosure or statement of any kind is required if there is no such information to disclose. Any required disclosure may be, but need not be, contained in the disclosure statement described in this Summary.

What if a purchaser does not get a disclosure statement?

If the seller fails to provide the required disclosure statement, the contract may be terminated as set forth above. If the seller fails to provide the required disclosure statement, or the seller misrepresents, willfully or otherwise, the information required in such disclosure, except as a result of information provided by the locality in which the property is located, the purchaser may bring an action to recover actual damages suffered as a result of such violation. No purchaser of property located in a noise zone designated on the official zoning map of the locality as having a day-night average sound level of less than 65 decibels shall have a right to maintain an action for such damages.

Ask NVAR, continued from page 17

http://www.vhda.com/Pages/Home.aspx


ask NVAR

Are there limits to seeking damages?

Yes. Any such action must be brought within one year of the date that the purchaser received the disclosure statement. If no disclosure statement was provided to the purchaser, the action must be brought within one year of the date of settlement, or purchaser’s occupancy of the property by lease with option to purchase.

Are there things that are not disclosed?

Yes. Purchasers should be aware that neither a seller nor a real estate licensee is obligated to disclose facts or occurrences which have no effect on the physical structure of the property, its physical environment, or the improvements located thereon, or the fact that the property was the site of a homicide, felony, or suicide. Furthermore, it is a violation of federal law to disclose whether a previous occupant of the property was afflicted with the HIV virus or has AIDS.

What about noise?

If the property is located in a locality in which a military air installation is located, the seller, including builders or owners

of new property, must provide purchasers with a disclosure statement setting forth whether the property is located in a noise zone or accident potential zone, or both, if so designated on the official zoning map of the locality. Such disclosure shall state the specific noise or accident potential zone, or both, in which the property is located.

Mr. Hawkins is a partner with the law firm of Peterson, Goodman & Hawkins PLC in Vienna, Virginia. He represents buyers, sellers, and developers in all phases of residential and commercial real estate transactions.

If the seller fails to provide

the required disclosure

statement, the contract

may be terminated.

http://www.wjdpm.com/


finance forum

Real Estate Finance Panel Covers the Angles: Good, Bad, Otherwise: How Federal Budget Cuts, State Legislation, Foreclosures Affect Your Bottom Line

By Liz Milner

Is this the best of times or the worst of times for Realtors®? A wide-ranging panel discussion presented by NVAR’s Real Estate Finance & Settlement Forum on May 23

examined vital topics. Depending on which panelist had the floor, we are almost out of the woods or, alternatively, we are about to embark on a long, downhill slide.

Virginia Legislative DevelopmentsAt the state level, there is solid support for private property rights. NVAR was successful in defending Realtor® interests at the 2012 session of the Virginia General Assembly, explained Mary Beth Coya, NVAR’s Senior Vice President for Public & Government Affairs. Six out of seven initiatives championed by NVAR were successful. The May-June issue of Update magazine summarizes current legislative developments (go.nvar.com/2012laws).

When is a Contract Not a Contract?Foreclosures are a continuing, albeit diminishing presence in Northern Virginia. As such, it’s important for Realtors® to understand potential pitfalls in the REO process. “Many times you don’t have a contract when it appears that you do,” says Jay Eskovitz, the principle owner of Key Title. He identified a number of potential contract issues, such as conditional acceptance, seller default, property condition, REO challenges and settlement.

Title issues are another problem area because title defects that existed before the foreclosure aren’t always brought to light. Eskovitz advised buyers to purchase a separate search if necessary, and to be sure to get a complete title search.

“The more knowledge Realtors® have of the potential pitfalls, the better they can guide their clients through the REO sales process.”

The Good NewsDismissing rumors of a 10 percent reduction in government as ridiculous, Stan Collender, a senior partner of financial services with Qorvis Communications, says that the local economy will continue to grow. “This area is not going away,” he said. “It’s just not going to grow as much as it had in the past. It’s not a decline in current levels; just a reduction in the rate of increase.” The good news is that there still will be substantial demand for real estate. “In fact, right now is the best time to buy a house since 1992 if you are in Northern Virginia. Interest rates and prices are low, relative to what they have been in the past.”

Despite the Tea Party’s best efforts, Collender says federal government is not going away. Federal spending for 2012-2013 will be about $4 trillion, and a substantial part of this money will be spent in our area. Federal appropriations are going to be close to, if not in excess of, a trillion dollars next year.

There will still be substantial demand for real estate based solely on federal employment and federal dollars being spent with contractors. The bad news is that the days of big increases in federal spending on the discretionary side — the things that threw a lot of money into this area — are probably gone, at least for a while, he explained.

Collender pointed out that predictions of a 10 percent reduction in federal spending are unlikely. While everyone agrees that federal spending needs to be cut, Collender said, they don’t agree on what part of it should be cut. The only spending cut that gets a majority of support is foreign aid, which represents less than 1 percent of federal spending.

In order to balance the budget, Collender says there would have to be a 25 percent across-the-board cut. But the budget isn’t easily cut.


http://nvar.com/government-affairs/2012-virginia-legislation-impacts-industry


finance forum

Interest on the debt can’t be cut, and cutting Medicare, Medicaid, Social Security, federal retirement, student loans, agricultural supports and other entitlement programs is a politically dangerous move. Add these entitlements to interest on the debt and that’s two-thirds of the budget. The remainder is about $1.1 trillion. Of this, $600 billion funds the Defense Department and it’s unlikely that that will be cut. “So,” he says, “you are left with $500 billion to cover a $900 billion debt. Even in Washington, that math doesn’t work. This tells you that a 10 percent cut in government spending is almost impossible.”

The impact of budget cuts on contractors will also be less severe than the media would lead you to believe, Collender explains. Most contractors have multi-year contracts. It would cost the government as much to get out of them as it would to allow them to be spent out. Over time, there may be a reduction. It’s not an absolute decline, just a reduction in the rate of increase, he noted.

On a Runaway Fiscal Train?

In his presentation, The Future of GSEs in America, GMU Professor Anthony Sanders presented a less optimistic view. “I think we’re on a runaway fiscal train,” Sanders said, “and all runaway trains eventually crash.”

Entitlements and spending, he noted, are just too much of a temptation in a democracy. Cutting spending is almost impossible because elected officials get reelected by spending money. “If you go to Congress, and try to argue for cutting back the housing subsidy, you will have gobs of people showing up yelling, ‘Don’t take away my housing subsidy!’ Even people who are otherwise conservative fight for the housing subsidy. There is absolutely no will or spine in Congress to do much.”

Sanders says that the economic growth of the United States has slowed down to almost European levels and warned that we cannot expect the spectacular recoveries that we have had before. Right now we are benefitting from Europe’s economic woes—people from Europe flee from European currencies and buy our treasury bonds, driving down our mortgage rates.

But what’s the source of their problems? Too much spending, too many entitlements and too much debt. “It catches up to everyone eventually. We’re the 900-pound gorilla in the room, so we’re the last ones to get nailed by this. We’re relying on everyone in the world thinking we’re safe. With a budget running trillion dollar deficits, how safe are we?



http://provtitle.com/


“We are Greece in theory. We have rampant entitlements, no will to increase taxes, and we just keep issuing debt. It’s true that the Greek economy isn’t comparable to ours; but France’s is, and France is having real problems right now.”

Turning to the GSEs, Sanders predicted that FHA is here to stay. All they’re going to do is gradually increase the insurance payment on low down payment loans, he explained.

Congress may change the way Freddie and Fannie do business, but it won’t abolish them. Fannie and Freddie, in Sanders’ opinion, need to be transformed. There is a joint bill between Republicans and Democrats to do just that. It will take away Freddie and Fannie’s massive profit motive and re-create them as a cooperative or a public utility. They wouldn’t be allowed to hold any loans on their books but would exist as a securitizer and insurance company. The Treasury wants to create a new FDIC to insure this.

With regard to the Principal Reduction Program championed by the Obama Administration, Sanders urged his audience to visit the Reuters Mortgage Write-Down calculator (go.nvar.com/reuters) which estimates what the cost to taxpayers from mortgage write downs will be.

Sanders says that while the Principal Reduction Program may be politically and economically worthwhile, it’s not without cost. Using the calculator, he predicted that losses to taxpayers would be at least another $128 billion on top of what Freddie and Fannie have already lost. In his opinion, the write downs are too small and too late to revitalize the market.

The political process, Sanders says, is turning the economy into a bubble machine. We’ve had the Internet Bubble, the Housing Bubble, the Student Loan Bubble. Eventually we are going to get to the point where we will have to pare back our entitlements, he says. They will become unaffordable.

The same thing applies to housing. We will probably not be able to subsidize housing to the same level it is today in 20 years.”

Collender responded that the market in the early part of this decade was artificially inflated. It’s not going to get back to that level anytime soon, he added. You cannot compare what’s happening now to what was happening in 2006 or 2007. If you do, Collender says, you’re going to be a very depressed person.

finance forum, continued from page 21

finance forum

http://www.classicrealtyva.com/english/

http://graphics.thomsonreuters.com/12/04/BV_MRTGGWRTDWN0412_VF.html


agents need to know

Agents Need to KnowSentriLock ‘Call before Showing’ Codes: Affiliate Access is Limited!

NVAR sells limited-access Sentricards® to our Affiliate members.

Affiliates must use a “Call Before Showing” code to access a SentriLock lockbox. The CBS code must be obtained from the Listing Agent before the Affiliate is able to access a SentriLock lockbox. The agent is always responsible for verifying that the Affiliate requesting the CBS code is entitled to access the property. All Affiliates in Northern Virginia are issued limited access cards and therefore require CBS codes issued by the listing agent.

For more information, including agent instructions for viewing or changing a CBS code, visit go.nvar.com/cbscode. Questions? Contact SentriLock Support at 877.736.8745.

New 511 Virginia Traffic Information System Features Mobile App, Improved Website, Enhanced Voice Recognition Virginia motorists can download a free mobile app that will give them real-time traffic information, access to an improved 511 phone system and to a new 511 website with live streaming video of traffic conditions.

The new system includes several features and enhancements, including:

• MobileappsforAndroidandiPhonefeaturingreal-timetraffic cameras, travel times, electronic message signs and traffic maps

• Newandimproved511phoneservicewithabettervoicerecognition system

• Awebsiteshowingincidents,constructionzones,electronic message signs, travel times and traffic cameras

• Amajorityoftrafficcamerasstreamingvideoat15framesper second, providing sharp and clear images

• ‘ReachtheBeach’informationthatshowsthefastestroutes to the Virginia Beach Oceanfront and the Outer Banks Expressway.

The system can be accessed by calling 511 from any land line or cell phone in Virginia or visiting 511virginia.org.

https://dl.dropbox.com/u/3344631/SentriLock_CBS%20Codes.pdf

http://www.511virginia.org/

http://www.bbt.com/


tough listings

By Michele Lerner

How to Move a Less-than-Perfect Property

Tactics‘Tough Listing’

Every Realtor® has a war story or two about their toughest

listings. You know: the one with the backyard bumped up against

I-66; the one with the abandoned house next door, or the one

with dark rooms and tiny windows. Yet, somehow, every one of

those listings eventually sold.



tough listings

“Most often, selling a tough listing boils down to money,” says Nancy Kozlowski, a Realtor® with Long and Foster Real Estate in Arlington. “There’s a price point that’s low enough that a buyer would even buy a home in the middle of the railroad tracks.”

Beyond dropping the price, some strategies that Realtors® suggest can neutralize negative aspects of a home on the market.

“There are some things that you can’t change about a house, but you can change the price and the conditions for sale,” says Bonnie Kyte, a Realtor® with Re/Max Choice in Fairfax. “You can sweeten the pot on a tough listing with things like a credit back towards closing costs. I’ve given away my timeshare weeks to buyers and to agents for a closed deal. One of my sellers offered an old VW Beetle to buyers, and we’ve also given out a certificate for six months of gasoline for buyers.”

To increase attendance at an open house in the hope of attracting a buyer, Kyte has given away lottery tickets and bottles of wine to the first 10 people to arrive. She’s offered restaurant certificates and theatre tickets, too.

Location WoesMaria Nicolau, a Realtor® with Long and Foster Real Estate in Sterling, had a listing in Emerald Chase in Herndon that backed to the Fairfax County Parkway.

“A huge wall separated the yard from the parkway, and the owners planted bushes in front of it, but it would take years for those bushes to grow tall enough to hide the wall,” says Nicolau. “The sellers did some additional landscaping to improve the look of the yard, but basically this place took a longer time to sell and we had to lower the price, too.”

Emphasize the interior in a house with a bad location, suggests Kozlowski.

“If you make it drop dead gorgeous inside then they’ll pay more attention to that as opposed to the fact that the place backs to a busy street or overlooks a parking lot,” she says. “If it’s a condo, you can add latticework and flowering plants on the balcony to obscure the view.”

A location that may be a deal breaker to one person could be less important to someone else, says Angela Kasey, a Realtor® with Long and Foster Real Estate in Annandale who mostly works with buyers.

“While some people wouldn’t want to be close to a busy street, other people, especially if they don’t have kids, might like the idea of being close to commuter routes,” says Kasey. “If someone likes the home enough and the condition and price are right, they are sometimes willing to overlook a negative feature.”

Cinnamon Pham, a broker with Kylin Realty in Annandale, had a short sale listing that had been abandoned and was located in a crime-ridden neighborhood with many nearby foreclosures and short sales.

“There wasn’t much we could do except clean it up inside, but we also put a special tree from Vietnam in a huge pot in front of the house to add some curb appeal,” says Pham. “It looks a little like a bonsai tree but it isn’t one. That tree brought so much attention to the property, with people stopping to look at it and other Realtors® asking about it, that we sold the house within a week. The buyers made the offer contingent on keeping the tree, so we agreed.”

“There are some things

that you can’t change

about a house, but you can

change the price and the

conditions for sale.”




tough listings

Landscaping can minimize some, but not all location deficits, cautions Kyte.

“You can block the views of a busy street with trees, shrubs or a decorative fence,” she says. “But it’s also important to understand the cultural differences in our area between different groups. Some people will absolutely refuse to live next to a funeral home or a cemetery, and for people interested in Feng Shui, a location at the end of a cul-de-sac is a negative.”

Outdated FloorplanA home with closed off rooms, overgrown trees or too-small windows can be a turn-off to today’s buyers, who often want a home with an open floorplan and plenty of natural light. Overcoming a dated home can require cooperation from the sellers as well as some ingenuity from the listing agent.

Budget-conscious home sellers may hesitate to spend a lot to place their homes on the market according to Jason Yeo, a Realtor® with New Star Realty in Fairfax. “In that case, it is better to emphasize the other features such as a good location and to renegotiate to a lower price.”

Nicolau says you can improve the look of a dark older home by painting it with light and bright colors and replacing light fixtures.

“In one home, we took out the ceiling fan in the basement and used the connection to install track lighting with small, bright bulbs,” says Nicolau. “We added extra lighting in the living room and dining room, too. It made a world of difference and the house sold pretty quickly.”

In one of Kozlowski’s listings, the living room and dining room had dark red carpet but the sellers were not willing to replace all of it.

“We put down parquet flooring just in the dining room which changed the impact of the carpet,” says Kozlowski. “Buyers noticed the new parquet instead.”

Kozlowski says sellers with a dark home should add lots of extra light fixtures, such as the inexpensive ones available at IKEA, along with mirrors to reflect the light. She suggests painting the walls with brighter colors and adding a splashy rug in the entrance or other dark spaces.

“You can always improve a home by painting the walls and even the floors,” says Kyte. “If a home is dark, you can sometimes enlarge the windows and doors without it costing too much money, too.”

Pham recently listed a two-and-a-half level home with four bedrooms and seven bathrooms, with an extremely unusual floorplan.

“I had the seller pay an architect to draw a two-dimensional floorplan of a possible alternate lay-out with fewer bathrooms along with an estimate of the cost of remodeling the property,” says Pham. “That ended up selling the house.”

Drawings or even virtual staging can be used to show prospective buyers the possibilities in an aging home, says Marian Wang, a Realtor® with Long and Foster Real Estate in Fairfax.

“You can put photos from virtual staging online as long as you mention in the remarks that this is what the home can possibly look like,” says Wang.

Some buyers have a difficult time visualizing an alternate floorplan or how something like knocking out an interior wall could change the look of a home, says Kasey.

“Realtors® who are listing a home that needs renovation should provide as much information as they can about the possibilities of changing the flooring and light fixtures or putting on an addition,” she says. “Even more important, they should provide information about the availability of renovation loans from the FHA and conventional lenders for buyers who may not know they can wrap renovation costs into their mortgage.”

Problem House Next DoorA house next door or across the street from your listing that’s in disrepair, has a yard full of weeds or a rusty car

tough listings, continued from page 25


“[It’s] also important to understand

the cultural differences

between different groups.

… [For] people interested in

Feng Shui, a location at the end of

a cul-de-sac is a negative.”


tough listings

surrounded by broken parts in the driveway can be a detriment to getting buyers to look at your home, much less make an offer.

“You can’t just go fix the place yourself because that would be trespassing,” says Wang. “If it’s located within a homeowners association, then you can contact the HOA to request that they handle the situation. If not, you can contact the owner or the bank if it’s a foreclosure, and ask to at least have the lawn mowed.”

Kyte says listing agents should try to find out as much as they can about the situation in a neighboring home so they can alert prospective buyers that the home is about to be sold or that the current disrepair is about to be corrected if that’s the case.

“I also recommend schmoozing with the neighbors, explaining that you are listing the neighboring house and asking for their help,” says Kyte. “You can always offer to pitch in and help them clear out their yard or get rid of a bunch of clutter so their place looks better, too.”

Uncooperative TenantsNicolau recently worked with homeowners who wanted to sell but had tenants who were unwilling to keep the property clean or to make it available to prospective buyers.

“The choice was really just to drop the price or to wait until the lease was up,” says Nicolau. “We decided to just wait until the tenants moved out so we could paint and clean up the property before it was listed.”

Wang suggests finding out what the tenants’ issues are in order to get them to cooperate.

“In one case, the tenant worked at night, so we made sure to limit the showings until later in the day to make it easier,” says Wang. “We made sure other Realtors® understood that the tenant needed to sleep in the morning. It’s important to be nice and to work with people. I find that most people will be reasonable if you treat them with kindness.”

Kyte typically adds a note to her listings with a tenant in residence that says “Please be considerate of the tenants when showing this property.”

“Not only does this show the tenants their help is appreciated, but it lets Realtors® and buyers know that the condition of the property is due to the tenants and not the owners,” says Kyte.

Pham opted to pay a lawyer in one case in which the tenants were not allowing prospective buyers into the home. The lawyer wrote a letter explaining the terms of the lease and the tenants then began allowing visitors during specific hours.

Kozlowski often recommends waiting to list a property until tenants move out, but if the sellers need the rental income, she suggests offering a financial incentive such as a rent reduction to encourage them to cooperate.

“The problem is that a lot of buyers cannot see past the mess in a place, so it’s usually better to sell an empty place that’s been freshly cleaned and painted,” says Kozlowski.

Whether the issue is a home in poor condition or a bad location, using creativity, being courteous and applying common sense can often win the day and make the sale.



Using the Online HotlineEditor’s note: At press time, the online Hotline was still in production. These instructions will become effective once the feature is live. Members will be notified via the NVAR e-Newsletter and the nvar.com home page.

• Begin by logging in to the nvar.com website with your NRDS ID and password.

• Click on the “Law and Ethics” tab.

• On the right-hand side of the page, you will see a “Legal Hotline” module. Click on the link to access the hotline.

• Click the “Get Started” link, and follow the prompts to submit your question.

After submitting a question through the Legal Hotline, you will be contacted by an NVAR attorney within two business days.

legal hotline

FOR MEMbERS ONLY:

NVAR Legal Hotline Goes OnlineBy Capricia Alston, NVAR Member Services Intern

NVAR has instituted a new online Legal Hotline that will improve member service and promote greater

efficiencies for NVAR’s two full-time attorneys. The former call-in hotline, staffed by General Counsel Sarah Louppe Petcher and Staff

Attorney Laura Farley, has now transitioned entirely online. Only active members of NVAR

have access to this service.

Members who login to NVAR’s website can submit a question within

one of the listed categories and expect a telephone or

email response within two business days. “Our newly

structured hotline streamlines a member’s ability to reach us, allowing our staff attorneys to track inbound questions and manage outbound feedback more efficiently,” said Chief Operations Officer Maggie Mueller-Tyler.

Categorizing inbound questions is a valuable component of the hotline because the most common questions are collected and answered on the “Law and Ethics Knowledgebase” web page. This page, found at go.nvar.com/LawFAQ, is separated by category and provides members with the resources and answers they need to conduct business. Issues ranging from lockboxes to the new agency laws are answered here, and member hotline questions and responses will be uploaded if these serve our membership.

Although members can now seek assistance online only, the hotline’s core usage remains the same. It continues to inform members of legal issues that impact them, provides guidance for general legal questions and answers questions related to NVAR Forms and the NAR Code of Ethics.

The hotline does not offer specific legal advice and is not to be used for emergency purposes. If legal advice is needed for a specific matter, NVAR recommends that the member consult an attorney.

“[The hotline allows]

our staff attorneys

to track inbound

questions and manage

outbound feedback

more efficiently”

http://nvar.com/index.php/law-ethics

http://www.nbirealty.net/


membership

WhAT’S COOKING AT NVAR?

New Cost Savings, Phone Upgrades, Online Education, Legal Hotline Are Value-Added Member BenefitsBy Maggie Mueller-Tyler, Chief Operations Officer

If you’ve eaten in a restaurant lately, you may have noticed menu changes that claim to trim calories from your favorite dishes without sacrificing flavor. At NVAR, we’re looking for

ways to shrink your expenses and actually boost the member services you receive.

By now you may have heard about some of the exciting price reductions the Board of Directors has added to the menu of member benefits. When you receive your 2013 SentriLock renewal in December, you will notice a $40 reduction. The BOD also reduced the price of the SentriLock wireless lockbox from $99 to $83 for members only. Plus, for the 13th consecutive year the local NVAR dues will remain $295—as much as $60 less than other local board dues.

For new agents looking to join a Realtor® association, NVAR’s membership application fee has been slashed to $75, half of the cost charged by other local boards. If you know Realtors® who are looking to make a change and would like to join NVAR as a primary member, let them know that we will waive the application fee entirely.

Not only is the NVAR Board of Directors looking for ways to improve our members’ financial well being; they also want to deliver a better member experience.

In the fall, members will notice some new things when they call NVAR. The Board has approved a phone upgrade, with software that is intended to enhance the member’s experience. For instance, callers will be able to queue up to wait for a staff member instead of going directly to voice mail. Should you need to abandon the call, NVAR will be able to follow up with you to make sure your question has been answered. The receptionist will now know if staff is available before transferring a call. Also, supervisors will track inbound and outbound calls, call duration, and call purpose, all of which should help expedite our high-volume calls in a more timely fashion. Supervisors will be able to join a call if they are needed to assist a member.

To enhance our education offerings, later this year members will have the option of taking Continuing Education classes online directly from NVAR. If you like the interaction of a live class, we will continue to provide top quality instructor led-classes at both of our two facilities. If you prefer to stay in your robe and slippers and complete your CE requirements at home, you can. We understand that our diverse membership learns in many different ways, and NVAR is committed to offering you a choice of educational options fueled by technology. NVAR’s first online offering will be agent CE, but broker CE, broker pre-licensing, Risk Reduction and Principles of Real Estate will soon follow.

NAR’s designations will also be part of the initial offering. Who knows where an online school will take us? Could it be that you’ll soon be taking CE on your smartphone?

In the works in the Professional Standards department are improvements to the Legal Hotline. Software is being developed that will allow members to submit real estate questions to NVAR’s two staff attorneys online with an expected reply in 48 business hours. With almost 10,000 members looking for answers at any given time, this new software allows tracking and queuing of inquiries and should provide for an expedited response. Additionally, tracking a high level of interest in the same topic could suggest that training for members on that issue is warranted. See the article on page 28 to learn more.

So stay tuned! There are more enhancements to your NVAR experience in the pipeline. Your Board of Directors is cooking up benefits, trimming costs to our members and standing ready to serve you! Changing up our menu means better benefits for you!


http://commissionexpress.com/


multi-million $ sales club

Excellent Effort Yields Great Results: Award Winners KnowMULTI-MILLION DOLLAR SALES CLUb bREAKFAST CELEbRATES MEMbERS’ 2011 SUCCESSES

The Falls Church Fairview Park Marriott was the setting on Friday, May 4 for NVAR’s annual Multi-Million Dollar Sales Club Breakfast. More than 120 Realtors® and their brokers attended, and a total of 895 members were recognized for their 2011 sales achievements. NVAR awards recognize members who have closed at least $3,000,000 in gross sales or 24 transactions during an award year. The prestigious Top Producer level is awarded if an applicant’s production is at least double the minimum qualification requirements.

This year’s ceremony marked the first time in NVAR history that a 45-year anniversary award was bestowed. That honor went to Lillian Petersen of Long & Foster. Visit go.nvar.com/petersen to read a 2007 Update magazine tribute to Petersen’s remarkable history with NVAR.

Three lucky Realtors® also took home a $100 merchant gift card as a door prize thanks to the support of event sponsors Interstate Moving & Storage, Dominion Title and VHDA.

Picture Yourself here!Having a stellar year? Get the recognition you deserve. Look for 2012 application materials online in December nvar.com.

Visit go.nvar.com/2011mmsc to view the 2011 NVAR Multi-Million Dollar Sales Club Awards Directory.

1. Forty first-time members of the Multi-Million Dollar Sales Club attended the 2011 awards breakfast. A total of 97 new inductees were added.

2. Anniversary members celebrating from five to 45 years in the sales club received awards for their 2011 production. Fifteen-year honorees pictured here are: Suzanne Woodruff, Suzanne Gaibler, Kathryn Sparks and Charlet Shriner.

3. Lifetime Top Producer Kacou Aboi is congratulated by NVAR CEO Christine Todd. Members who achieve Top Producer status five times are eligible for Lifetime Top Producer status.

4. Accepting congratulations for her five-year anniversary is Maria Nicolau (right). NVAR Chairman Pat Kline presented certificates to each honoree. Members celebrating 15 or more years in the sales club also received gifts.

5. CEO Christine Todd reminisces with 45-year honoree Lillian Petersen. During her remarks, Todd offers first-timers her top 10 tips for remaining a club member.

https://dl.dropbox.com/u/3344631/Lillian%20Peterson_2007.pdf

http://nvar.com/images/documents/2011-mdsc-directory.pdf


fair housing

Creating Opportunity in Every Community ANNUAL FAIR hOUSING MONTh LUNChEON DRAWS REALTORS®, hOUSING ADVOCATES

Each April, the Fairfax County Office of Human Rights and Equity Programs joins forces with NVAR to present a fair housing program for local

Realtors® and housing officials.

On April 24, Thomas E. Perez, Assistant Attorney General – Civil Rights Division for the U.S. Department of Justice, spoke about federal enforcement of the fair housing laws. “Equal housing opportunity remains elusive to all too many people across this country,” Perez said. “I need the continuing leadership of Realtors® across this region.”

Assistant U.S. Attorney General Thomas Perez congratulates Min Joo Kim, a Fairfax County high school student and winner of the Fairfax County Office of Human Rights and Equity Programs 2012 poster contest.

NVAR CEO Christine Todd (left), was invited to introduce this year’s keynote luncheon speaker, Thomas Perez. Pictured with her are former NVAR Board Chairmen and fair housing advocates Jane A. Quill (center) and Jo Anne Johnson.

http://www.decordecorum.com/


blood drive

WELLSFARGO

HOMEMORTGAGE

DOMINIONTitle Corporation

2012NVAR ThANks OuR

PARTNeRs

gold

silver

bronze

friend

NVAR to Host Second Blood Drive: Wed., July 25 – With Free LunchPLEASE hELP – GIVE ThE GIFT OF LIFE!

Did you know that every two seconds, someone in the U.S. needs blood? Each donated unit of blood can help save as many as three lives. The local Red Cross supplies blood to more than 85 hospitals, including 10 trauma centers. Approximately 1,100 units of blood each day are needed in order to meet the demand in our community.

On Wednesday, July 25 from 11a.m. - 5 p.m., NVAR will host a blood drive at our Fairfax Headquarters. A free lunch will be provided to all presenting blood donors. Any person who goes through the screening process will also be entered in a drawing to win a $500 gas card and four tickets to see Kenny Chesney and Tim McGraw on August 12 at FedEx Field.

We understand that not everyone can donate blood. You can still make a big impact by recruiting friends, colleagues and family members to take an hour of their day to donate. Only with your help will we achieve our collection goal of 40 units of blood. Please help keep the hospital shelves filled for patients in need!

For any questions or to make an appointment, please call Gerie Kruchko at 703.207.3200, email [email protected], or click on redcrossblood.org.

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leadership daynar member profile

What’s Holding Clients Back In Northern Virginia? Perceived Price Instability Tops the ListCONFIDENCE, TIGhT SUPPLY OF hOMES STILL ON MINDS OF bUYERS; LESS FEAR OF JOb LOSS COMPARED TO NATION

Northern Virginia Realtors® surveyed as part of the National Association of Realtors® 2011 Member Profile reported expectation that prices might fall further as the leading factor limiting potential clients in completing a transaction. Among all U.S. Realtors®, difficulty in obtaining a mortgage was the stumbling block. Mortgage woes ranked number four among reasons for Northern Virginia Realtors®’ failed transactions last year.

Northern Virginia Association of REALTORS®

ALL REALTORS®

RESIDENTIAL SPECIALISTSCommercial Specialists

AllBroker/ Broker

AssociateSales Agent

Difficulty in obtaining mortgage finance 16% 16% 20% 15% 20%

Expectation that prices might fall further 26 25 20 27 40

Low consumer confidence 18 19 24 17 *

Difficulty in finding the right property 21 21 15 24 20

No factors are limiting potential clients 11 12 15 11 *

Concern about losing job 2 2 2 2 20

Expectation that mortgage rates might come down 1 1 * 1 *

Other 5 5 4 5 *

* Less than 1 percent

http://www.firstphc.com/new/1stportfoliowealthadvisors1/Flash1.html


leadership daynar member profile

U.S.

ALL REALTORS®

RESIDENTIAL SPECIALISTSCommercial Specialists

AllBroker/ Broker

AssociateSales Agent

Difficulty in obtaining mortgage finance 33% 32% 35% 31% 42%

Expectation that prices might fall further 26 26 24 28 22

Low consumer confidence 15 15 17 13 12

Difficulty in finding the right property 10 10 8 11 10

No factors are limiting potential clients 8 8 7 9 11

Concern about losing job 4 4 5 4 3

Expectation that mortgage rates might come down 1 1 1 1 1

Other 4 4 4 4 *

* Less than 1 percent

https://store.nvar.com/realtorstore/nvarproducts.htm


“Ask Me!” is a newly launched campaign sponsored by NVAR, in partnership with Qorvis Communications of Washington, D.C., to connect prospective homebuyers and sellers with NVAR members.

Launched at a Tuesday, June 19 breakfast and press conference at the Key Bridge Marriott, the campaign will be ongoing from now through the late fall. Speaking to assembled media and invited guests, NVAR Chairman Pat Kline said, “Ask Me! is based on what our members are telling us, what the market is saying and what the data is proving with unmistakable clarity: the Northern Virginia housing market is already strong and getting even stronger.”

A primary goal of the “Ask Me!” campaign is to urge con-sumers to contact Realtors® to determine whether this is the right time for them to sell their home or buy a home in Northern Virginia.

As part of the “Ask Me!” effort, NVAR is working to make sure that our members are fully prepared to provide accurate information and solid advice. We’re providing “Ask Me!” training sessions to create learning opportunities.

All NVAR members who participate will automatically become “Ask Me! Ambassadors.” At the training sessions, members will be equipped with the overall Ask Me! campaign messaging, the latest facts and market statistics for this region, plus tips about how to answer questions effectively from consumers and the media.

Visit AskMeNVAR.com and click on the link for “Ask Me!” Ambassadors to learn about the “Ask Me!” campaign training schedule and how to earn your “Ask Me!” button. Realtors® who attend a training session will be featured on the “Ask Me!” website. Consumer information

“ask me!” campaign

The New NVAR Mantra: “Ask Me!”bECOME AN “ASK ME! AMbASSADOR” AND LET CLIENTS, REPORTERS KNOW YOUR VIEW AbOUT ThE NORThERN VIRGINIA MARKET

http://askmenvar.com/

http://nvar.com/education-announcements/vreb-adds-three-hour-class-to-renewal-requirements


Ask Me!www.AskMeNVAR.com

“ask me!” campaign

about the home buying and home owning process can also be found on this new site.

Stay up-to-date on the latest news about the Northern Virginia housing market by following @AskMeNVAR on Twitter. Join the conversation using the #AskMeNVAR hashtag and “Like” us on Facebook by visiting www.facebook.com/AskMeNVAR.

Questions? Email us at [email protected].

http://www.facebook.com/AskMeNVAR

http://www.facebook.com/AskMeNVAR

http://www.cmhomeinc.com/

https://store.nvar.com/realtorstore/product.htm?departid=38000&in=531:1382489d7d8:1a5f


realtor® rally

Realtors® Raise Awareness at D.C. Rally to Protect the American DreamThe Value Of Housing Must Remain a Public Priority

More than 700 NVAR members registered to 14 ride buses from Northern Virginia to be a part NAR’s Rally to Protect the American Dream. Almost 15,000 people came from all over the country

to the Washington Monument on Thursday, May 17, to provide a massive show of support about the importance of homeownership in a pivotal election year when economic growth is a marquee issue. NVAR arranged for the buses to pick up members in 17 locations to be at the Washington Monument for this unprecedented gathering.

To market the Rally nationwide, NAR sent a film crew to NVAR to shoot a video featuring Chairman of the Board Pat Kline, Chair-Elect Jon Wolford and CEO Christine Todd. Also, the Korean TV news media came to NVAR for a press conference to learn about the Rally from NVAR Korean Forum members. The news segment was aired on Korean stations in the D.C. region prior to the Rally.

The Rally was added to the 2012 NAR Midyear Legislative Meeting agenda earlier this year. It was organized in record time by NAR staff, and the 1.

http://www.hometowntitle.net/


realtor® rally

1. Realtors® from across the Commonwealth gathered underneath the Virginia flag in the shadow of the Washington Monument. Joining colleagues from every state, they were part of thousands who took a stand for homeownership on May 17.

2. NAR Rally to Protect the American Dream Or BUST. NVAR Members who signed up for NVAR Fairfax Bus #1 assembled to be among the first to get to the Washington Monument for the Rally.

3. Taking center stage at the Rally, NAR President Moe Veissi told Realtors®, “You are the architects of the American Dream.”

NVAR Communications team organized our members’ transportation. Logistics and event flow at the Rally were excellent, according to Realtor® feedback. This included travel to the NAR Expo at the Marriott Wardman Park.

“Realtors® know that homeownership is an investment in our collective futures, and we’re here today to protect the American Dream of homeownership,” announced NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami from the stage. “Homeownership and investment in real estate impacts families, communities, small businesses and the nation’s economy in a very meaningful way. Today, we’re proud to be showing the country that homeownership matters.”

The Rally garnered coverage in US News & World Report, Inman News, MSNBC and the Epoch Times.

2.

3.


NV/RPAC contributor list

Golden R ($5,000)John McEnearneyNVARTom Stevens

CRystal R ($2,500)Jane QuillTrish Szego

steRlinG R ($1,000)Bob AdamsonNancy AlertJulia AventMary BayatPat Buck & Champ BuckRobyn BurdettDavid CharronMoon ChoiTracy ComstockVirgil FrizzellDelk HamakerLisa Dubois HeadleyMargaret Handley

Jo Anne JohnsonSita KapurKaren KidwellPat KlineTom MeyerMuraji NakazawaThai-Hung NguyenVinh NguyenTracy PlessAnne RectorZinta Rodgers-RickertFetneh SchachtJohn StedmanChristine ToddKaren TrainorJon Wolford

GoveRnoR’s Club ($500)Guo Michael HuangLauren KivlighanRebecca OwenShoeleh RahnamaMario Rubio

Capitol insideR ($250)Maria AlbisuBrian BlockRussell “Tom” BoyleSiu CheungGwendalyn CodyMary Beth CoyaFlorence DanielsJenny DewenterHeather EmbreyLisa GoodfriendNicholas LagosAli MansouriKimberly McClarySarah Louppe PetcherEsin ReinhardtChristine RichardsonAudrey ShayJonathan SpinettoJake SullivanGayle Warman

$99 ClubJohn AdamsRafael Aguilera

Nancy AlertAre AndresonKannan AnnamalaiLorraine AroraAugusto ArosteguiGay AshleyJames Atkins IIIThomas BakerBarbara BechtleAnn BeckJames BellThomas BellancaCharles BengelDavid BillupsAnne BlaicherPhil BolinJesse BraudawayJoan BreadyMichael BriggsJeanne BrownSusan BrowningWilliam BuckShirley BufordBoyd CampbellJan ChangLin Chen

Ya-Ting ChenJosh ChoeLouis CironiCandyce ClantonGeorgiana CopelottiJanet CroftTheodore DangDan DanielsMichael DayBic DeCaroStephen De FalcoMunirshah DellawarLeslie DickemannDavid DiMattinaEileen DuboseRocio DutyKathleen EatonMichele ForbesJames FoxPaul GaleChristal GolstonBrandon GreenChristopher GuldiStephen HalesJulie HallRebecca Hanrahan

(as of June 21, 2012)

2012 NV/RPAC Contributors List: We’re Getting There

http://nvar.com/events/nvar-room-rental-opportunities


NV/RPAC contributor list

Melinda HansonAnne HarringtonShawn HarrisJanet HewittPaul HoggeLeamon HowellRuth HowellJulie HulshizerLeslie HutchisonEllen IngMargaret IrelandRosemarie JohnsonCarolyn JonesLynne JonesTammy JonesLilian JorgensonKyung JungMatthew KahnEui KangKristen KellyBrian KlotzRobert KoenigSubba KollaRolfe KratzRakesh KumarFrances KyteCindy Lancaster

William LaulerDoris LeadbetterDiane LeeFrancis LeeJames LeeKevin LeeSherri LeeAshley LeighDiane LenahanRoberta LetkiewiczSonia Lieberman Lisa LieuScott MacDonaldAnn MalcolmSandra MasonLisa MayJohn McAllorumNatalie McArtorRichard McCaffreyAnn McClurePamela McCoachEdward Mead IIISusan MekenneyDavid MichalskiDeborah MillerPuran MittalPriscilla Moore

Maggie Mueller-TylerDiane MurphyAllene MurrayPatricia NassiefJames NellisPhi NguyenTruc NguyenBarbara NollAndrew NortonMaureen O’HaraA. Casey O’NealPeggy OremlandPatrick PageEleanora PanizzaLindsay PeakeJulie PearsonBrunhilda PetersJerry PetittNatalie PhanJames PhillipsMary PilgrimGwenda PlushRichard PruittShoeleh RahnamaKatreen RinaldiBonnie RivkinMike Rokni

David RosenmarkleElizabeth RossTerence RyanJohn SaboPaul SaltzJesse SampsonSarah Santa AnaTazuko SchmitzTerry SeamanAaron SeekfordAlba SerranoJay SevilleLinwood SheltonCarol SimmonsSuzanne SimonMaureen SimpsonMonica SimsAnise SnyderE. James SouvagisJames StakemNancy SteortsJane StottlemyerSpencer StoufferJeffrey SurdykCarol SutfinSwindell SuttonDavid Sweet

Patricia SykesJonathan TaylorBrian TerrebonneAnne ThaiGregory TomlinKathleen TrainorTrong TrinhMartin Van KirkRajiv VashistSanjiv VashistVirgilio VasquezSridhar VemuruMichael WangMiriam WangMary WhitlockKevin WilesSandra WilkinsonAnn WilsonChristina WoodHolly WorthingtonFelicia WuLaura YiAlla YunYili ZhangLouise ZinziBenjamin Zurun

Thanks to You

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D.C. CONTINUING EDUCATIONFaiRFax HeadquaRteRs

DATE COURSE TIME

7/17 DC Fair Housing and DC Legislative Update 9 a.m. - 4:15 p.m.

11/6 DC Fair Housing and DC Legislative Update 9 a.m. - 4:15 p.m.

POST LICENSINGFaiRFax HeadquaRteRs

DATE COURSE TIME 7/13 New Member Orientation 9 a.m. - 4 p.m.

7/16Post Licensing (Day 1) - What’s In a Contract and Real Estate & Contract Law

9 a.m. - 4 p.m.

7/17 Post Licensing (Day 2) - Agency Law & Ethics 9 a.m. - 4 p.m

7/18 Post Licensing (Day 3) - Fair Housing & Business Planning 101 9 a.m. - 4 p.m

7/19 Post Licensing (Day 4) - Listing Property and Working with Sellers 1 - 5 p.m.

7/20Post Licensing (Day 5) - Working with Buyer Clients and Marketing with Technology

8:45 a.m. - 4:45 p.m.

8/25 New Member Orientation 9 a.m. - 4 p.m.


HeRndonDATE COURSE TIME 7/28 New Member Orientation 9 a.m. - 4 p.m.


9/10Post Licensing (Day 1) - What’s In a Contract and Real Estate & Contract Law

9 a.m. - 4 p.m.

9/11 Post Licensing (Day 2) - Agency Law & Ethics 9 a.m. - 4 p.m.

9/12 Post Licensing (Day 3) - Fair Housing & Business Planning 101 9 a.m. - 4 p.m.

9/13 Post Licensing (Day 4) - Listing Property and Working with Sellers 1 - 5 p.m.

9/14Post Licensing (Day 5) - Working with Buyer Clients and Marketing with Technology

8:45 a.m. - 4:45 p.m.


PRINCIPLES OF REAL ESTATEFaiRFax HeadquaRteRs

DATE COURSE TIME

11/5 - 11/15 Principles of Real Estate: Day 1 - 9 9 a.m. - 5 p.m.

11/16 Principles Exam Prep Course 9 a.m. - 4:30 p.m.

RESIDENTIAL STANDARD AGENCYHeRndon

DATE COURSE TIME 7/26 RSA Course 9 a.m. - noon

8/15 RSA Course 1 - 4 p.m.

9/27 RSA Course 9 a.m. - noon

FaiRFaxDATE COURSE TIME 7/12 RSA Course 1 - 4 p.m.

8/29 RSA Course 9 a.m. - noon

9/12 RSA Course 1 - 4 p.m.

To register for a course listed or view a class description, visit

RealtorSchool.com

class schedules

w ABR GRAdUATES w

BRENDA J. BERRyMANIVETTE BOOhER

AIDA MONJE DE BuSChBINh DO

GyEShIL KIM

AFARIN KOVAChLEONARD MARSh

VAN MESSNERMARTA NAzARIOJuLIE NESBITT

MOhAMMAD uDDINLyNNETTE VILLANuEVAANDREA WOODhOuSE

https://store.nvar.com/realtorstore/


class schedules

CONTINUING EDUCATIONFaiRFax HeadquaRteRs

DATE COURSE TIME

7/13 Broker CE : Brokerage Risk and Liability 8:45 a.m. - 12:25 p.m.

7/13 Broker CE : Productive Agents and Offices 1 - 4:45 p.m.

7/14 16 hr CED - Day 1 8:45 a.m. - 4:45 p.m.

7/21 16 hr CED - Day 2 8:45 a.m. - 4:45 p.m.

8/1 CED: 8 hr Mandated Course 8:45 a.m. - 4:45 p.m.

8/2 CED: Green Building 8:45 a.m. - 12:25 p.m.

8/2 CED: Buyer Beware - Foreclosed and Neglected Properties 1 - 4:45 p.m.

8/15 Broker CE : Brokerage Risk and Liability 8:45 a.m. - 12:25 p.m.

8/15 Broker CE : Productive Agents and Offices 1 - 4:45 p.m.

8/21 16 hr CED - Evening (part 1A) 6 - 9:30 p.m.

8/23 16 hr CED - Evening (part 1B) 6 - 9:30 p.m.



9/15 16 hr CED - Day 1 8:45 a.m. - 4:45 p.m.

9/22 16 hr CED - Day 2 8:45 a.m. - 4:45 p.m.

HeRndonDATE COURSE TIME 7/10 CED: 8 hr Mandated Course 8:45 a.m. - 4:45 p.m.

7/11 CED: Agency & Disclosure Under VA Agency Law 8:45 a.m. - 12:25 p.m.

7/11 CED: New Rules of Real Estate Finance 1 - 4:45 p.m.





8/11 16 hr CED - Day 1 8:45 a.m. - 4:45 p.m.

8/18 16 hr CED - Day 2 8:45 a.m. - 4:45 p.m.

9/6 CED: Detection & Prevention of Contract Fraud 8:45 a.m. - 12:25 p.m.

9/6 CED: New Rules of Real Estate Finance 1 - 4:45 p.m.

9/7 CED: 8 hr Mandated Course 8:45 a.m. - 4:45 p.m.

FEATURED OFFERINGS RISk REDuCTIOn

DATE COURSE TIME LOCATION

8/9 Risk Reduction: Rules & Tools of Advertising Part I 9 a.m. - noon Fairfax

8/16 Risk Reduction: Rules & Tools of Advertising Part II 9 a.m. - noon Fairfax

9/19Legal Series: Property Management in a Roiled Market w/ Lem Marshall

9 a.m. - noon Herndon

technologyDATE COURSE TIME LOCATION

7/11 Let’s Go YouTube’in 11 a.m. - 1:30 p.m. Fairfax

8/8 Using Mac, iPhone & iPad in Real Estate 10 a.m. - noon Fairfax

rprDATE COURSE TIME LOCATION

7/11REALTOR Property Resource (RPR) Basic Training for Brokers Only

10 a.m. - noon Herndon

7/13 REALTOR Property Resource (RPR) Basic Training 1 - 3 p.m. Herndon

7/16REALTOR Property Resource (RPR) Basic Training for Brokers Only

1 - 3 p.m. Fairfax

7/20 Realtor® Property Resource (RPR) Basic Training 10 a.m. - noon Fairfax

7/24 Realtor® Property Resource (RPR) Basic Training 10 a.m. - noon Herndon

8/2 Realtor® Property Resource (RPR) Basic Training 10 a.m. - noon Herndon


8/10 Realtor® Property Resource (RPR) Basic Training 1 - 3 p.m. Herndon


8/23 Realtor® Property Resource (RPR) Basic Training 1 - 3 p.m. Herndon


greenDATE COURSE TIME LOCATION

9/24 Green Designation: Green 100 9 a.m. - 5 p.m. Fairfax




new members

Sarah AborasMuhammad AfzalShahbaz AhmedSang AhnHoward AhnZhuhui AlvarezAmna AmjadYalda AnwariGianna AponteElizabeth ArnoldJeanne AtkinsAzhar BadrDana BaileyAmanda BaldwinKiran BandiDwight BardotWetherly BarkerBrian BarnesStephanie BarryJohn BartonPhaimy BassetteDarima

Batueva-IslamMeagan BeattyTimothy BelangerSaba BerhanePeter Bixby-

EberhardtDanny BlakeneyKaren BonacorsaRenee BoniswaCourtney BowensDana BoyleLeah BradshawBrian BrownJames BryantElaine Burack

Yvonne BushongSamuel CacholaBarbara CafiniJoanna CampbellMauricio CamposJose CentenoDaniel ChahelDavid ChamberlainMary ChamberlainAllen ChanVictor ChiEun Joo ChoiSong ChongWendy ClavijoMark ClymanHeather CoreyEric CountrymanJessica CoxsonPenny CraigJewel CrawleyEnkhjargal CustodioPeter DallmanJacques De CouJonathan DeHartYalemwork DemekeSonya DervenisKyla DeVantierPatrick DolanCameron DolbyNancy DoyleChristopher DunnKhaled EbrahimEbenezer EkubanRachida ElaamraouiSamer ElkasmKamran EltejayeAnne Erickson

Preston EversKelly FairchildJulia FarmerCaitlin FlanaganAna Maria FloresDavid FolcomerRandolph FraysherHeriberto GalarzaRegina GalvinStewart GardnerDavid GeigerBorzoo GhorbanJonathan GillamMary GillespieAbraham GoalJohn GomezAmber GouldMelissa GranoHipolito GutierrezJose GuzmanBetty GuzmanJennifer HarperAlyssa HarryPaul HartkeGary HarveyJeffrey HergeMirka Herrera-MassMark HoganAlexandra HoldenAfroza HossainJaven HouseAnn HovankySarah Jane HugarGary HughesLarry HuynhAli IbrahimHaiyan Ingold

Syed IslamSmita IyerRobin Jenks

VanderlipJennifer JiangVicki JohnstonWilliam JonesKue JooPeggy KammenMichael KeeNajia KemmouArifa KhanYoung-ok KimJwa KimYoung KimJulie KimMyung KimRadana KneiflJohn KnewDavid KohyarMichael KolmstetterKouassi KraRudolf LaczkovichBeth LeasChantal LebretonYun Ha LeeKatie LesterAngela LewisZachary LipsonPeter LockeSherri LonghillAngie LundyTam LuongJames Ly Michelle LynchAjay MahajanEva Marar

Silvia MarsansJorge MartinezElbert MaysAndrew McCollomJohn McIntyreKimberly McKinleyStephanie

McWhorterMark MeyerdirkCristina MichaelLindsey MichaelsAnna MilnerJames MinorMark MissettMax MolinaJung MoonAdalgisa MoraDaniel MorganAnjanette MurphyCatherine NeevesStuart Nesbitt IIIPhuong-Thao

NguyenNgoc NguyenJulie NirschlTrina OcasioMaria OcasioBarbra OehlschlagerFrances OhAhmed OmarAmanda OsieckiGeorge PacoriMegan ParkerSilvio ParralesKeino PattersonGregory PattiJorge Pena

Rhonda PerryKendall PetermanThu Ha Thi PhamGisella PiacentiniNicole PierceAaron PodolskyConnie PoulsenAna QuinterosRichard RaffertyChandrasekhar

RathnakaramVijay RathoreBriony RaymondBrendan RealsParvathareddy ReddyJennifer RiddleBrianne RileyOscar RiveraSylvia RodriguezThomas RollerAlexis RollertJamie RomanticMary RuehlJosue RuizKaren RutkoskiLeonid SagatovShohreh SalehiJessica SanatiSylva SatianSusan SawickiMargaret ScherbarthChristie SchumacherKatharine ScottJanett SeminarioMonica SharmaLesley ShawAndrew Shelton

Jonathan SimpsonAlfred SisleyMark SlimpFrank SmithGloria SmithElizabeth SmithMaryam SoroushMaureen SossaMary SpiridopoulosVictoria StratmanLinaloe StrineWalter StrobachSaul SuarezManal SulimanJeffery SykesMelissa SyversonCharles TaylorCraig TorbettPatrick TrenholmHeather TuckerJames TuomeyEmily VuonoDaniel WallaceSophy WangReginald WheelanKristie WilsonParvez YazdiTsu-Tzu YenEric YiKimberly YoungJason YoungYanhang ZhangFred ZimmermanBryan Zupan

new members

http://washingtonpostmedia.com/


APPRAISeRSA+ Appraisals 703-765-7579

AAA Appraisals LLC 703-865-5303

AD Brown Appraisals 703-541-8212

Advantage Realty Services Inc. 703-866-5050

Alan Lord and Associates Inc. 703-768-1954

Anthony Appraisers 703-319-0500

AREAS Appraisers Inc. 703-866-6000

BARCO 703-730-2272

BFM Inc. 703-670-2586

Bruce W. Reyle and Company Inc. 703-273-7375

Capitol Appraisal Service Inc. 703-691-8800

Chevy Chase Bank - Bethesda 301-907-5850

Chevy Chase Bank - Reston 703-648-9796

Classic Appraisals 703-675-2265

CMS Appraisals Inc. 703-209-9123

D&R Appraisal Services Inc. 540-751-2220

Dan W. Mori 703-339-6136

DCO Appraisal Services Inc. 301-855-3886

Dennis J. Park 703-750-0560

Diane V. Quigley Appraisal 703-830-6973

Dickman & Associates 703-938-6633

Distinctive Homes Realty LLC 540-338-4606

Dittmar Realty Group 703-893-0900

Donald R. Drake, Jr. 571-237-9430

Elite Appraisal Service 571-331-6374

F & F Appraisals 703-963-1743

Forte Appraisal Service Inc. 703-433-2205

Gee Appraisers Inc. 703-451-9020

Harry Graef 571-213-7249

Harry H. Arikan 703-216-5147

Hartmann Group 703-406-7621

Hendershott Appraisal Services 703-280-1637

Home Appraisers 703-709-5695

Homestar Real Estate Services 571-261-3367

Hundley and Associates 703-212-9080

Inman Appraisal Services Inc. 703-644-9877

JDC Appraisals Inc. 301-946-4865

John L. Brady, Jr. 571-237-7430

Karas Inc. 703-753-5635

Kelli B. Weber 703-690-0309

Kinder Appraisal Services 703-268-0756

LandSafe 877-572-5673

Lesley Omega Appraisers 703-403-2024

McGraw Appraisals 703-963-3988

Metro Appraisal Services 703-644-7772

Michael S Mc Mahon 703-476-9472

Monir Moshashaie 703-255-6451

Nancy M. Pruett 571-277-1671

NB Valuation Group Inc. 301-654-1719

NVA Appraisal 703-477-3178

Omni Appraisal Services 703-591-4001

Patricia C. Johnson Appraisal 703-405-6070

Paul S Fitzgerald 703-742-9500

Philip Arnold Appraisal Co LLC 703-250-2132

Preston Hummer 703-929-0857

Real Estate Appraisals 4 You 703-794-9118

Renner, Hansborough & Reese 301-258-8181

Residential Appraisal Group Inc. 304-724-6041

Residential Valuation Services 703-815-4407

Riverpoint Appraisals 703-726-7595

Ryan Appraisal Services 301-694-6500

Sandra A. Le Blanc 703-629-6842

Silvey Appraisals LLC 703-577-1946

Stewart Jarrett R E Appr & Con 703-212-0479

Suburban Appraisers & Consultants 703-591-4200

Susan Vanderzyl 703-969-3822

T. L. Hoover Appraisal Service 703-354-8981

The Benjamin Group Inc. 703-684-3577

VA-MD Appraisal Group LLC 571-438-0604

Washington Appraisal Group Inc. 703-813-8160

Weichert Realtors® 703-893-1500

William C. Harvey & Associates 703-759-6644

William Patten & Associates 703-642-8224

World Mortgage 703-934-5502

AFFILIAteSCaRpet CleaninGAffordable Carpet & Flooring 703-766-7777

ClosinG GiFts Cutco Closing Gifts 703-967-9058

Commission advanCe Commission express 703-560-5500

CRedit union Realtors® Federal Credit Union 301-355-7541

eleCtRiC/Gas pRovideRs Mr. Energy 703-862-8168

FinanCial seRviCes 1st portfolio lending 703-564-9100

Acacia Federal Savings Bank 703-968-5685

Access National Mortgage 703-871-1300

bb&t mortgage 703-855-7403

Carrington Mortgage Services LLC 888-813-2988

Chase Home Finance - Falls Church 703-326-9711

Chase Home Mortgage - Columbia 410-992-6660

Fidelis Mortgage LLC 410-668-6501

First County Mortgage 703-506-3790

First Home Mortgage Corporation 571-732-4270

FitzGerald Financial Group 703-778-4012

George Mason Mortgage 703-407-2600

Greenpoint Mortgage 703-323-1951

Homestead Funding Corp. 703-734-2424

HST Mortgage 703-766-4636

Intercoastal Mortgage 703-449-6828

Member Advantage Mortgage 703-236-7625

MetLife 571-201-0679

Monarch Mortgage 703-928-1204

Mortgage Access Corp. 703-996-3075

Navy Federal Credit Union 888-842-6328

Pentagon Federal Credit Union 703-838-1070

Prospect Mortgage LLC 703-995-8746

Prosperity Mortgage 703-222-1800

SunTrust Mortgage 202-624-1245

SWBC Mortgage 571-612-4500

The Washington Savings Bank 240-544-2020

Union Mortgage Group 703-407-2385

vHda 804-343-5981

Wells Fargo Home mortgage 703-642-2300

GoveRnment seRviCes Fairfax County 703-324-4804

GutteR RepaiR Gagnon’s Gutterworks 703-716-0377

Home CleaninG seRviCes maid brigade 703-823-1726

Home inspeCtions AmeriSpec Home Inspections 571-235-2755

Consumer Resources 703-690-8484

Hinson & Jung LLC 301-351-1113

House Inspection Associates 703-453-0442

Hurlbert Home Inspection 703-577-7127

appraisers & affiliates directory


appraisers & affiliates directory

Keystone Home & Environmental 571-261-3192

Old Dominion Home Inspection 703-255-9338

Pillar to Post Inc. 703-209-1566

Pillar To Post Inc. 703-402-2475

ProTec Inspection Services 301-972-8531

US Inspect 703-293-1400

Virginia Home Inspection Service LLC 571-283-8447

Home RepaiR seRviCes C & M Home Improvement Company Inc. 703-250-4241

Mr. Sandless 703-794-9663

Home seCuRity Home Security Assoc of Virginia 800-367-1448

Home staGinG seRviCes Dekore Inc. 703-517-4568

Preferred Staging 703-851-2690

Staged Interior 703-261-7026

Home WaRRanty 2-10 Home Buyers Warranty 443-717-2761

HMS Home Warranty 800-843-4663

Old Republic Home Protection 800-282-7131

insuRanCe seRviCes The Hutt Financial Group 301-571-6153

Victor Schinnerer & Co. Inc. 301-951-5495

Junk Removal Junk King 703-455-3861

leGal seRviCes Brincefield, Hartnett, Maloof 703-836-2880

Fredericks & Stephens, P.C. 703-691-7575

Joseph A. Cerroni, Esq. 703-941-3000

Keegan & DeVol PLC 703-691-1700

Law Office of Ann-Lewise Shaw 703-774-7626

Lawrence E. Marshall II, PLC 804-346-2167

Pesner, Kawamoto, Conway 703-506-9440

Peterson, Noll, & Goodman, PLC 703-442-3890

Rich Rosenthal Brincefield Manitta

Dzubin & Kroeger 703-299-3440

maRketinG/media the Washington post 202-334-5775

mold Remediation AHS Mold Aid 877-932-7177

movinG & stoRaGe Busy Buddies Inc. 703-321-8564

interstate moving & storage 703-569-2121

JK Moving & Storage 703-856-0636

Quality Services Moving 703-495-8900

Smartbox Portable Storage 703-956-8258

neW Home buildeR Toll Brothers 703-753-6688

peRsonnel seRviCes Employment Enterprises Inc. 703-361-2220

pest ContRol seRviCes Allstates Termite Control Co. Inc. 703-578-3255

Asian Pest Services LLC 703-752-1634

Connor’s Pest Control 703-321-0400

My Exterminator LLC 703-615-4028

Radon inspeCtion Accurate Radon Testing 703-242-3600

Arlington Radon 571-331-2876

US Inspect 703-293-1400

Real estate FoRms MB Associates 703-358-3515

Real estate seRviCes All American NOVA Home Buyers 703-344-1385

Real estate siGnposts RealtySignPost.com 202-256-0107

RooFinG DryHome Roofing & Siding Inc. 703-891-4663

settlement seRviCes Absolute Title & Escrow LLC 703-842-7525

ATG Title 703-934-2100

Champion Title & Settlements Inc. 703-385-4555

dominion title Corporation 703-757-9500

ekko title - Centreville 703-448-3556

ekko title - Fairfax 703-560-3556

ekko title - vienna 703-537-0800

etitle agency inc. 703-777-4261

Highland Title & Escrow 703-760-3300

Key Title - Fairfax 703-803-8600

Key Title - Reston 703-437-4600

KVS Title 301-576-5580

mbH settlement Group - alexandria 703-739-0100

mbH settlement Group - ananndale 703-852-3000

mbH settlement Group - arlington 703-237-1100

mbH settlement Group - burke 703-913-8080

mbH settlement Group - Fair oaks 703-279-1500

mbH settlement Group - kingstowne 703-417-5000

mbH settlement Group - manassas 703-393-0333

mbH settlement Group - mclean 703-734-8900

mbH settlement Group - Reston 703-318-9333

mbH settlement Group - vienna 703-242-2860

Mid-Atlantic Settlement Svcs 410-252-1208

Mid-Atlantic Settlement Svcs - Fairfax 703-720-2672

monarch title - alexandria 703-852-7700

monarch title - Herndon 703-890-0820

monarch title - mclean 703-852-1730

monarch title - springfield 703-852-7710

New World Title & Escrow 703-691-4330

Paragon Title & Escrow - Bethesda 307-986-1114

Provident Title & Escrow - Chantilly 703-239-9600

Republic Title Inc. 703-916-1800

RGS Title 703-903-9600

RGS Title - Arlington 703-351-0300

Southstar Title & Escrow LLC 703-548-7979

Stewart Title & Escrow Inc. 703-352-2935

The Settlement Group Inc. - Alexandria 703-933-3090

The Settlement Group Inc. - Burke 703-933-3090

The Settlement Group Inc. - McLean 703-584-0450

Universal Title 703-658-1369

Vesta Settlements 703-288-3333

teCHnoloGy seRviCes HomeFinder.com 703-777-3172

mRis 301-838-7100

RealEstate Business Intelligence 301-838-7131

Solution Station 703-999-7341

viRtual touRs BTW images 703-340-6383

bold signifies nvaR partners(Last updated June 29, 2012) Do you have a correction to this list? Please e-mail changes to Tracy Reynolds at [email protected].

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July/August 2012 Update Magazine

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