MTAR Member News March 4, 2019 Marijuana & Real Estate: A Budding Issue Residential Real Estate Trends Inside this issue: MTAR Calendar, Affiliate Spotlight, MTAR Leadership Debbie Garvin Education Calendar, The CE Shop, TREC Core Class in Shelbyville, Maintenance & Inspections 2 3 NAR surveyed its membership regarding their interaction with marijuana and the real estate sector in states where marijuana is legal. This report is a summary of the findings. One percent of members were marijuana specialists in residential real estate. As marijuana intersects with real estate, the demand for both residential and commercial properties is a growing market. Currently, only one to two percent of residential respondents where marijuana is legal for medical or for medical and recreational use were aware of their MLS containing a specific marijuana field. The highest share of respondents reported they currently have residential inventory available in their market. Between 11 and 15 percent of respondents in states where marijuana is legal to some extent believe inventory was tight for multiple reasons, including all-cash purchases from the marijuana industry. More than three-quarters of members have not seen a change in residential property values near dispensaries. One-tenth have seen an increase and 12 to 14 percent have seen a decrease in residential property values near dispensaries. RPAC Bowling finals this Wednesday, TN REALTORS Hill Day Mar.5, RPAC 6 to $99 event March 11 WCR meeting Tuesday, MSO Green Tie event, Meals on Wheels donations Member Birthdays, NAR MVP Offer, A soldiers Child Handbag event 4 5 6 Approximately two-thirds of respondents said that homeowner associations often have rules and restrictions against smoking and growing in home or common areas. Six percent report that homeowner associations did allow growing or smoking in home or common areas. Selling a Grow House Approximately three-quarters of members in states where marijuana is legal had never tried selling a grow house. One in twenty of these residential members had sold a grow house in the past. Among residential members who have sold a grow house, 27 percent in states where medical marijuana is legal had a difficult time selling a grow house. Thirty-three percent of members in states where both medical and recreational marijuana is legal had difficulty selling a grow house. Among members who had sold a grow house, seven in 10 did disclose the house was used as a grow house. Among those who sold a grow house in the past, nine in 10 had no title issues selling the grow house. Your career s best insurance The REALTOR Party is a powerful alliance of REALTORS and REAL- TORS Associations working to protect and promote homeownership and property interests. The REALTOR Party is designed to leverage our association s best asset our members. REALTORS do so much more than list & sell property. They are community builders dedicated to improving their towns, cities, states and America. They do this because it s good for the economic and social well-being of all citizens. They do this because it s good for business. 2019 GOAL $25 FOR EVERY MTAR MEMBER!! Three percent of members who had sold a grow house in states where medical marijuana is legal and one percent where medical and prescription use is legal used a specialized company for the title. Five percent of members who had sold a grow house in states where medical marijuana is legal and one percent where medical and prescription use is legal were not able to find a title company for the home sale. Property Management About one-third of members had seen addendums added to leases which restrict growing or smoking on properties. Forty-three percent of members in states where medical marijuana is legal and 36 percent of members in states where both medical and recreation marijuana is legal had no issues leasing a property after the growth or use of marijuana in a property. The most common issue was the smell, which nearly one in five members had encountered. Moisture issues were more common in areas where only prescription use is legal. Some states allow growing on personal property. When a tenant is allowed to grow marijuana in their rental property, it was most common for the tenant to pay the utility costs. When tenants were allowed to grow marijuana in their rental units, nine percent of those in states with legal medical marijuana said self-contained machine/boxes were required. This was also the case among six percent of those in states where both medical and recreational marijuana is legal. As marijuana is an all-cash business, earnings from those in the business were cash proceeds. About one-quarter of landlords were unwilling to take cash for rent. About one-quarter of those in states where prescription marijuana is legal would take cash for rent, and about one-fifth of those where marijuana is legal for both prescription and recreational use would take cash for rent. Report provided by NAR Research Group, November 2018
Page 2 MTAR Calendar of Events Tuesday, March 5 TN REALTORS Day on the Hill, Nashville 11:30-1:00 WCR presentation with Edsel Charles, MTAR 1:00-2:00 Member Services Cte. Mtg. Wed-Fri, Mar. 6-8 8:00-4:00 New Member Orientation classes Wed-Thur, Mar 6-7 10:00-2:30 RealTracs training classes, register online at www.realtracs.net Wed, March 6 10:15-12:00 RPAC Bowling Finals at Lanes, Trains, & Automobiles 1:00-2:00 RPAC Committee meeting Sunday, March 10 Daylight Savings Time Begins Today! Monday, March 11 9:00-4:00 TREC Core Class, First Comm. Bank, Shelbyville, 6 CE, $45 5:00-7:00 RPAC 6 to $99 social at Miller s Ale House, $25 Wed., March 13 9:00-10:30 MTAR Board of Directors mtg, location TBA Mon-Tue, Mar. 18-19 TN REALTORS Excel Summit, Cool Springs March 4, 2019 Wed., March 20 2:00-3:00 Gov t Affairs Cte. Meeting Thursday, March 21 2:00-3:00 Community Relations Cte. Mtg March 25-29 Spring Break Week For many schools in our membership Meet Your 2019 Leadership Team! FIRM: Parks YEARS IN REAL ESTATE: 29th year HOW DID YOU GET INTO THE REAL ESTATE BUSINESS: Married my REALTOR husband, and after a year of marriage we decided I would leave Nissan and become a REALTOR. Born a builders daughter and loved going to work with Daddy. Debbie Garvin YOUR VOLUNTEER ROLE AT MTAR? AT OTHER ASSOCIATIONS? OTHER VOLUNTEER PROGRAMS? Board Member. Chaired Education 3 times that I remember, & on the 2019 Committee Prayer Breakfast Teach Ethic s New Member Orientation Board member Feed America First Leadership Team Living Sent Ministries Work with Cherie Jobe Ministries New Beginnings Conference Teach Dotloop Information desk Team World Outreach Church WHY DO YOU VOLUNTEER WITH MTAR what do you get for your commitment? All the members I serve along side with make me a better person. Love the relationships, and this has been the strength of my business. I always learn and take away more than I give. WORDS OF WISDOM FOR YOUR FELLOW MTAR REALTORS. Get involved At MTAR. Step outside your company and get to know the Realtors you are working along side. When we serve together we learn or embrace. We are not competitors; we are fellow Realtors working towards a goal of what is best for our clients/customers and community. Set goals, set appointments and don t miss out on major family functions; put it on your calendar with no apology. Be safe; have a fellow REALTOR you can share with. Make it about the client or customer, not the money. Stay calm!!! Last, I will take from Bob Parks: Business is 3rd place (God, Family, Business)
Training & Educational Choices for MTAR Members! MARCH CE CLASSES March 6-7 RealTracs training at MTAR; RT Basic, Advanced RT and Real- Tracs Mobile, register at https://www.realtracs.net/help/classschedule March 6-8 New Member Orientation, 11 CE for new licensees March 11 TREC Core Course, First Community Bank, Shelbyville, 6 CE, 9:00-4:00, $45 March 14 Rescheduled from February dates! Spotlight on Decks and Older Homes - 2 CE each, $15 or both classes for $25. Page 3 Enroll today: http:// mtar.theceshop.com/ Promotion expires March 31, 2019 Sponsored by: MTAR EDUCATION CANCELLATION POLICY MTAR follows the Murfreesboro City Schools weather policy. If the City Schools are closed for inclement weather conditions, classes are cancelled and a make-up date will be announced at a later date, schedule and instructor time permitting. Check the MTAR website and Facebook page for updates and notices.
March 4, 2019 Page 4 Wednesday, March 6 is the finals of our RPAC bowling tournament at Lanes, Trains and Automobiles in Murfreesboro. Please feel free to drop by and cheer on your favorite teams. 10:15 a.m. From Tullahoma: From Murfreesboro: Weichert REALTORS - Parks, Smyrna Joe Orr & Associates Parks, Smyrna #2 Exit Realty Partners Coldwell Banker-Snow Coffee County REALTORS- & Wall Manchester Our appreciation to our trophy sponsor for this event. Be sure and make plans to join us at this year s 2nd RPAC 6 to $99 event at Miller s Ale House, March 11, at 5 pm.
March 4, 2019 Page 5 Economic Housing Predictions with Edsel Charles Tuesday March 5 11:30-1:00 Middle Tennessee Association of REALTORS Hosted by the Women's Council of REALTORS rsvp to wcrmidtn@gmail.com $15 for WCR member $20 non member, lunch provided tickets available at www.eventbrite.com Can your office help fill senior care bags? Again this fall, MTAR is providing senior care bags for our Meals on Wheels project! We will be filling 100 bags with the items listed below, so we need 100 of each item. If you would like to add some of these items to the care bags (doesn t have to be all 100), please drop it off at MTAR by April 10th. THANK YOU! Hand sanitizer Hand wipes Kleenex (travel size) Baby Powder (travel size) Lip balm Deodorant Toothbrush Q-tips (travel size) Mouthwash (travel size) Note pad & pen Hand Soap (pump bottle) Vicks Vap-o-rub Toothpaste Eye glass cleaner (packets) Mints (sugar-free) Card games or Puzzle books Hand warmers Socks (shoe top/no show)
M i d d l e T e n n e s s e e A s s o c i a t i o n o f R E A L T O R S 311 Butler Drive Murfreesboro, TN 37127 Phone: 615-893-2242 Toll Free: 877-893-2242 Fax: 615-893-2250 Toll Free Fax: 877-893-2250 MTAR MEMBER BULLETIN BOARD YOUR OFFER DATES: March 1-15, 2019 YOUR ACTION: Request an instant quote for ASPCA Pet Health Insurance YOUR REWARD: Tax Tips, Tricks, and Need-To- Know Deductions Webinar, Download valued at $29.95 Request an instant quote for ASPCA Pet Health Insurance through REALTORS Insurance Marketplace, your one stop shop for health, dental, vision, and now pet insurance! 4-Mar 4-Mar 4-Mar 8-Mar 8-Mar 8-Mar Bud Saunders Dale Patterson Steven J. Pulk Esther L. Wallace Johnny H. Williams Amy Barry Jaylon Patton Tristea Bankston TJ Nunez Shanelle Gray Jim O'Brien Michael Maxon Nechole Thompson Paul Myers Leslie Pruitt Derek Hicks Bryce Robinette John Watkins Alex Fogler Mike Dugan Corinne Covalt Lara Ramsay Sam Johns Gary Cantrell Marian Galbraith Violet Annette Oakley Bill Anderton William "Trey" Sugg Josh Fulmer Angie Boothe Michelle Brown Candi Panesi Katie Schmeltzer Mark Nicgorski Jim Tate Wanda Farris Tammy Russom George Weeks Anthony "Tony" Griffis There are two plans from which to choose, providing varying levels of coverage for cats and dogs. Both plans provide great, competitive rates. Premium rates depend on the coverage chosen, geographic location, and the species, breed, and age of covered pet(s). NAR members receive 10% off the base rate of the policy premium for one insured pet and an additional discount for two or more pets.