Official Publication of the Greater Tulsa Association of REALTORS GTAR W rld December 2009 www.tulsarealtors.com Monthly Congratulations! 2010 GTAR and NORES Boards of Directors GTAR Officers & Directors GTAR President: Jack Hodgson President-Elect: Pete Galbraith* Treasurer: Julie Tetsworth Immediate Past President: Harriett Dunham NORES Officers & Directors NORES President: Rexiene Reynolds President-Elect: Gary Griffith Treasurer: Mike Gray Immediate Past President: Gloria Allred Tom Allen* Rodger Erker* Mick Corbin* Alysia McFeely* Don Beach Mike Haley* Ann Ramsey Jones Peter Parker* Dennis Becker Fred Keas Julie LaBrecque* Anne Pollard Tim Cochran Dave Looney Mike Lester* Becky Zarecki Ryan Coulter* Kenny Tate* Ex Officio Rexiene Reynolds, NORES President Gary Griffith, NORES President-Elect Monty Berry, RCA Chair Ex Officio Jack Hodgson, GTAR President Pete Galbraith, GTAR President-Elect* TBA - CIE Chair (*Newly Elected to the Board of Directors) TABLE OF CONTENTS Membership...2 SA/REALTOR of the Year Nominations..3 Issues & Answers...4 Directors Actions/ RPAC...5 NORES Tech Tips...6 Monthly Stats/Web Stats...6 2010 GTAR Banquet...7 RCA (Commercial) Events...8 Continuing Education...9 Calendar...10
Newsletter published monthly for members of the Greater Tulsa Association of REALTORS www.tulsarealtors.com Send Inquiries to: P.O. Box 470603 Tulsa, OK 74147-0603 Phone: (918) 663-7500 Fax: (918) 663-8815 Email: gtar@tulsarealtors.com GTAR OFFICERS President Harriett Dunham President-Elect Jack Hodgson Treasurer Don Beach Past President Steve Baker GTAR Board of Directors Dennis Becker, Tim Cochran, Mike Craddock, Rodger Erker, Dennis Hall, Fred Keas Sherry Lewis, Dave Looney, Chuck Patterson, Julie Tetsworth Ex Officio: Pete Galbraith (OREC Commissioner), Rexiene Reynolds (NORES President-Elect), Melanie Richardson (RCA Chair) NORES OFFICERS President Gloria Allred President-Elect Rexiene Reynolds Treasurer Mike Gray Past President Doug Horton NORES Board of Directors Margaret Bannochie, Gary Griffith, Ann Ramsey Jones, Anne Pollard, Allen Stout, Martha Swezey, Becky Zarecki Ex Officio: Jack Hodgson (GTAR President-Elect) Melanie Richardson (RCA Chair) GTAR/NORES Staff Chief Executive Officer Al J. Unser, CAE Chief Operating Officer Mike Cotrill, RCE Chief Financial Officer Russ Otterstrom Executive Secretary Janie Bays Membership/Records Connie Montalbano Director of Communications and Education Daniele Holland REALTOR Resource Center Manager Barbara Forbes RCA/CIE Director & MLS Data Coordinator Renae Arbuckle Receptionist Bonnie Atkinson Customer Service Representatives Polly Choate, Tech Instructor, NORES Rules and Regs Laurie Rigney, Tech Support Rich McGonigle, Tech Support Gloria Waddle, Membership, Keys and Keyboxes Welcome Sheila Anderson, Gerald Reynolds & Assoc. Bow Bailey, Gerald Reynolds & Assoc. Susan Bayles, Keller Williams Jared Brown, Chinowth & Cohen Joyce Brown, Keller Williams Mark Chapman, Chinowth & Cohen Debbie Consedine, McGraw Rose Corey, McGraw Marvin Crisp, Coldwell Banker Select Janice Crosby, Crosby Real Estate Sherri Crosby, Crosby Real Estate Firm Affiliates: PODS, Designated Individual Donny Martin Target Pests Management, Inc. NEW MEMBER PROCESSING We are happy to process new members any time from 8:00 a.m. to 5:00 p.m, Monday through Friday; however, during lunch hours there may be a delay in processing. The best times to process new members are 9:00-11:00 a.m. and 2:00-4:30 p.m. Brokers: Please make sure your new associate(s) has all the signed paperwork needed along with the appropriate dues and fees. Hoby Ferrell, Ferrell Properties Glenna Fugate, Coldwell Banker Select Megan Huffman, Gerald Reynolds & Assoc. Kimberly Losornio, OklaHomes Kim Martin, Chinowth & Cohen Stella Minor, ERA John Hausam Robin Self, C21/Group One Judi Smith, United Country Town Anthony Sottile Jr, C21/Wright Beverly Spriggs, C21/Wright Stephanie Tucci, Broken Arrow Realty New Members GTAR Building relationships with the right business partners is essential to your success as a REALTOR. GTAR offers you an outstanding list of partnership resources with our Affiliate Network. These companies support our organization in many ways, and are a strong part of our unified effort to shape and grow our organization and community. If you are doing business with an individual or firm, make sure they are an Affiliate member of GTAR by clicking on the link in the Resource section of tulsarealtors.com. In Memoriam Glenda Crowl, associated with Coldwell Banker Select Larry Teel, associated with Bates & Associates Realty Mary Lou Lindsay, formerly associated with McGraw Charles Welch, past GTAR president 2 December 2009
Deadline is December 11 Now Accepting Nominations 2009 GTAR Sales Associate of the Year 2009 GTAR REALTOR of the Year Do you know a Sales Associate who shows true REALTOR spirit within the Association and in the community? Nominate them for Sales Associate of the Year by following three easy steps: 1. 2. Complete a Sales Associate of the Year Nomination form; it s easy and anyone can do it. Give the completed form to the nominee s Broker/Manager for verification of production. Do you know a Broker or Manager who makes an outstanding contribution to the community and the real estate profession through their activities? Nominate them for REALTOR of the Year by following two easy steps: 1. Complete a REALTOR of the Year Nomination form; it s easy and anyone can do it. 2. Submit the completed form to GTAR by December 11, 2009. 3. Submit the completed form to GTAR by December 11, 2009. The winner will be announced at the GTAR/NORES Installation & Awards Banquet February 5, 2010. The winner will be announced at the GTAR/NORES Installation & Awards Banquet February 5, 2010. Nomination forms for both are available online at tulsarealtors.com; from the main Member Services page, click on Messages/Information, then click Current Information/Special Messages, or Click Here 2010 GTAR Dues are Now Late! A $20 late payment fee is now required. You can pay by credit card online at tulsarealtors.com; on the main Member Services page, click on the yellow View/Pay Bill bar, then click GTAR Accounts Receivables, and follow instructions to pay, or Click Here. Please note: If you pay your dues online, the $20 late fee will be assessed manually you will be mailed an invoice. Payment can also be made in person or by calling the GTAR/NORES office at 918-663-7500 during business hours or by mailing a check, payable to GTAR, to P.O. Box 470603, Tulsa, OK 74147. Important Reminder: Realtor-Associate is a trademark word which should be hyphenated in all capitals, followed by the registration mark. Preferred use is as follows: Realtor-Associate Acceptable use, if unable to use registration mark, is as follows: Realtor-Associate December 2009 3
I s sa & s u e by n s w e r s Janie Bays RESPA Rule Taking Effect on January 1, 2010 (Source: NAR REALTOR Magazine and www.realtor.org) The New RESPA regulations are scheduled to take full effect on January 1, 2010. The New RESPA rule was published November 17, 2008. The goal of the new rule is to help consumers more easily understand settlement costs and prevent big price discrepancies between the preliminary Good Faith Estimate and the HUD-1 Settlement Statement that s presented at closing. Here s a look at the main changes. Following are links which will provide you with more information on the new rule: Main RESPA: Click Here (http://www.hud.gov/offices/hsg/ramh/res/respa_hm.cfm) RESPA Final Rule: Click Here (http://www.hud.gov/offices/hsg/ramh/res/finalrule.pdf) New RESPA Rule FAQs: Click Here (http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf) Comprised from industry questions and posted to facilitate implementation of these new requirements. NAR RESPA Webinars: Click Here (http://www.realtor.org/government_affairs/respa/respa_webinars) These Webinars will give you an overview of the changes. Simplified Forms: The new GFE and HUD-1 forms are intended to be easier for consumers to understand and aim to increase transparency by requiring lenders to calculate yield-spread premiums as part of their origination fee. Good Faith Estimate Form (GFE): Click Here (http://www.hud.gov/offices/hsg/ramh/res/gfestimate.pdf) HUD-1 Settlement Statement: Click Here (http://www.hud.gov/offices/hsg/ramh/res/hud1.pdf) Fewer Cost Fluctuations: The new forms will no longer allow lenders to change certain costs between the GFE and the HUD-1 forms. Costs that cannot be altered include the origination fee and transfer taxes. Some third-party costs, such as title searches and inspections, can change, but they re limited to a maximum change of 10 percent. (Effective date: Jan. 1, 2010*) 30-day Cure Period: At the closing table, if costs have changed more than the 10 percent limit, the deal can close, but the cost discrepancies must be worked out within 30 days. (Effective date: Jan. 1, 2010*) *Lenders that choose to use the new GFE and HUD-1 forms before the effective date must immediately abide by the new rules on cost discrepancies and calculating the yield-spread premium. Are You Totally Confused Now? You re in luck...attorney Monica Wittrock will be at GTAR on January 7, 2010 to teach What the 2010 RESPA Changes Mean to Me and My Business a new course specifically designed to help you understand how the RESPA changes will impact you as a real estate professional. And, you will be able to earn 3 hours of required (HOT) CE credit to boot! (See page 9 for details.) 4 December 2009
Directors Actions McKISSOCK Education Online in partnership with the Greater Tulsa Association of REALTORS This is a monthly feature which will report GTAR and NORES Directors actions from the previous month s Board of Directors meeting. Have You Waited Until the Last Minute to Get Your CE? You re in Luck! NORES Board of Directors Directors took the following actions: Formed a task force of at least six Participants to discuss square footage in the MLS. Approved adding a property sub-type called Multi-parcel to MarketLinx. Approved a joint venture task force, led by Xceligent, to provide analytical data on a quarterly basis based on information provided by NORES Participants/Users identified by Xceligent. GTAR Board of Directors Directors took the following actions: Approved offering two one-day CRS courses in 2010 instead of one two-day course. Approved offering a two-day REO Specialist designation course in February 2010. Approved the award criteria for three new awards: Staff Service Award, Committee Chair Award, and President s Award. Approved adding a paragraph entitled PROPERTY TO REMAIN ON MARKET and wording changes to the paragraph entitled FORECLOSURE on the Short Sale Addendum. Approved the revised Important Contacts You Need to Know. Approved using the November 1, 2009 versions of the OREC Contracts and/or forms as the GTAR approved (residential) forms. The 2010 RPAC Goal has been set at $53,070! McKissock allows you to fulfill your educational needs at your own pace from any computer with Internet access. McKissock offers a wide range of Oklahomaapproved continuing education courses for real estate associates and brokers, as well as real estate appraisers. ALL Support is Handled by McKissock Technical problems, course questions, CE processing with OREC, and certificate issuing. McKissock has a reputation for excellent customer service. Click on the following link to check out McKissock: GTAR Online Education You can also access McKissock by going to the home page of tulsarealtors.com and clicking on the McKissock icon. Into Fit Classes le u Your Sched 24/7 365 Again, thank you to everyone who helped us meet out 2009 RPAC Goal. (Note: Royce Ellington was inadvertently left off the list of $99 Club members for 2009 in last month s newsletter.) December 2009 5
NORES Tech Tips helpdesk@tulsarealtors.com Accurate Membership Information Members: Please UPDATE your personal information at tulsarealtors.com. From the Main Menu under Member Resources, click Edit Personal Info and enter your current information to allow your profile to be found in the Member Directory on the tulsarealtors.com and tulsaopenhouse.com websites, Find A REALTOR link. Don t forget to include your website URL! EDITING Your Personal Email Info: If you would also like your listings and system information to reflect an alternate email address, the following steps will enable you to edit your personal information to update to that address: 1. 2. Log on to tulsarealtors.com using your login ID and password and continue to the Main Menu. Find Edit Personal Info under Member Resources. Find your email address settings; type in your preferred email address; and click on Submit. Tulsa MSA* 2009 October Home Sales Home Sales Revised Residential Listings Oct. 2009 Oct. 2008 *Sept. 2009 ADDING/EDITING your MarketLinx Email Signature: 1. Log on to tulsarealtors.com and click on MarketLinx; find and click on My Page under My Tools. 2. Click on Preferences and then click on Email Preferences. 3. Type or copy and paste your email signature to add your signature to emails you send from MarketLinx. FORWARDING your TulsaRealtors Email to Another Address: Log on to tulsarealtors.com using your login ID and password and continue on to Main Menu. Click on Email. You are now logged into your tulsarealtors.com webmail account. Next, click the Preferences button on the lower left and find Forward To. Enter the email address where you would like your mail forwarded, and be sure to click on the little Save icon up at the top. Listings Processed 1,821 1,944 1,917 Year-to-Date 19,304 20,941 17,483 Number of Houses For Sale on Last Day of Month 5,673 6,465 5,847 MSI + 5.0 8.8 5.4 Month s Inventory 7,668 8,315 7,892 Pending Contracts 1,132 738 1,084 Residential Closings 1,105 970 1,062 Year-to-Date 9,410 10,072 8,305 Average Sales Price $145,922 $161,767 $147,412 Year-to-Date $151,962 $157,936 $152,633 Median Sales Price $125,000 $131,750 $129,000 Total Value Sold $144,288,553 $139,974,769 $141,792,734 Year-to-Date $1,269,948,822 $1,392,992,284 $1,125,660,269 * (Metropolitan Statistical Area) which is defined as a standard government b a s e d a r e a. T h i s a r e a c u r r e n t l y i n c l u d e s s e v e n c o u n t i e s : C r e e k, O s a g e, Tulsa, Rogers, Wagoner, Pawnee, and Okmulgee. + Months supply of inventory. tulsarealtors.com Web Stats for October 2009 Total Hits = 5,225,084 Total Visitors = 177,073 Total Page Views = 1,728,969 Total Leads Generated = 2,022 Affiliate Searches = 744 Visit Agent Bio = 10,437 Property Search = 289,522 6 December 2009
You are Cordially Invited to Attend: 2010 GTAR/NORES Installation & Awards Banquet Complimentary parking will be provided in adjacent garage. A Night to Remember Friday, February 5 DoubleTree Hotel Tulsa-Downtown 616 W. Seventh Street Cocktails: 5:30 p.m. Seated Dinner: 7:00 p.m. Entertainment: Jeff Shadley Band GTAR and NORES Presidents: Jack Hodgson and Rexiene Reynolds Members who achieved 30 and 40 years of service in 2009 will be honored, as well as the 2009 REALTOR and Sales Associate of the year. Dance the Night Away in Your Black & White Attire (Business Casual to Formal) (With advanced notice, dietary restrictions will be accomodated to the best of the caterer s ability.) Absolutely, No Reservations Accepted After Monday, February 1, 2010 Presidents Inaugural Banquet Reservation & Ticket Order Form $50.00 per person through January 25th $60.00 per person after January 25th Enclosed is my check for Card Number: Name: tickets payable to GTAR or charge my Visa or MasterCard (circle one) Firm: Exp. Date: Address: City: State: ZIP: Phone: Email: Guest(s): Tables are set up for 10. If you wish to sit at the same table with someone, please attach a list of the names of the people in your group. Mail this form with your payment to GTAR, P.O. Box 470603, Tulsa, OK 74147. If paying with a credit card, fax form to 918-663-8815. December 2009 7
Nominations Deadline is December 11 You are cordially invited to attend a special RCA Holiday Insight Social Thursday, December 10 4:00 p.m. Private Tour of ONEOK Field The New Home of the Drillers (Details to follow) 5:00 p.m. James E. McNellie s Pub Enjoy complimentary appetizers and cash bar for cocktails There is no cost for this event but an RSVP is required by December 8! To RSVP: Email: commercial@tulsarealtors.com Call: 918-663-7500 Online: Click Here Special Thanks to Our Sponsors: MidFirst Bank Chinowth & Cohen McGraw, REALTORS DPV Investments, Inc. NAI Commercial properties CB Richard Ellis/Oklahoma Bauer & Associates Burton Property Company Grubb Ellis Levy Beffort First Commercial Real Estate Comprop Realty LLC Lester & Associates Brought to you by the RCA Committee Save the Date! Wednesday, March 10, 2010 Annual Greater Tulsa Commercial Market Update 2009 GTAR Commercial REALTOR of the Year Do you know a Commercial REALTOR or REALTOR- ASSOCIATE who promotes the interest of the commercial real estate profession, the community, and their clients and customers? Nominate them for Commercial REALTOR of the Year by following three easy steps: 1. Review eligibility: 75% of transactions must be commercial - investment - industrial real estate. 2. Complete a Commercial REALTOR of the Year Nomination Form; it s easy and almost anyone can can do it. (No self nominations are allowed.) Nomination forms are available on tulsarealtors.com or Click Here 3. Submit the completed form to GTAR by December 11, 2009. The recipient will be announced at the GTAR REALTORS Commercial Alliance (RCA) Celebration January 22, 2010. The Annual RCA Celebration Friday, January 22, 2010 6:00-10:00 p.m. The Silo at Redberry Farm (www.thesilotulsa.com) Tickets: $50 per person Celebrate with us as we announce the 2009 Commercial REALTOR of the Year, along with many other awards and honors recognizing the contributions of our commercial REALTORS business accomplishments, civic groups, and Association organizations. To RSVP: Email: commercial@tulsarealtors.com Call: 918-663-7500 Online: Click Here 8 December 2009
Continuing Education All classes are in the GTAR Training Center unless otherwise noted. Cost of classes for members is $15 (pre-registered) or $20 (day of), unless otherwise indicated. Cost for non-members is $30 (pre-registered) and $35 (day of), unless otherwise indicated. Fair Housing and Ethical Practices Tuesday, January 12 1:00-4:00 p.m. Instructor: Kathryn Jones *OREC Approved: 3 hours required FHR CE credit REALTOR Ethics Thursday, January 21 1:00-4:00 p.m. Cost: Free Instructor: TBA GTAR/NORES Inclement Weather Policy We are entering that time of year when the weather does not always work in our favor; therefore, GTAR/ NORES has established the following inclement weather policy for all education classes at GTAR (CE, Computer, New Member Orientation, etc.): If Tulsa Public Schools are closed the day of a scheduled class, the GTAR/NORES class is cancelled. Depending on the type of class being cancelled, the class will either be rescheduled for a future date or a full refund will be issued. Please be sure to check one of the local news channels the night before and/or morning of a scheduled class for school closings. Plan Ahead... Earn All 12 OREC Required CE Credit Hours in January! What the 2010 RESPA Changes Mean to Me and My Business Thursday, January 7 9:00 a.m. - 12:00 p.m. Instructor: Monica Wittrock, Esq. NEW The purpose of this new course is to inform real estate professionals about the new RESPA changes that will become effective January 1, 2010 how it will affect the way they do business with their buyers, sellers, lenders, title companies, etc. This will include the following: Review current status of RESPA; Review the new Good Faith Estimate; Review the new HUD-1 Settlement Statement; Compliance with Oklahoma State Law; and Changes at the Closing Table. OREC Approved: 3 hours required HOT CE credit *OREC Approved: 3 hours required PSC CE credit For More Information and to Register Online: Click Here OK Broker Relationships Monday, January 25 1:00-4:00 p.m. Instructor: Ann Lloyd *OREC Approved: 3 hours required BRA CE credit Do you prefer to take CE classes online? Check out GTAR s online education offered through McKissock! (Click Image for program details.) (See page 5 for details.) Coming in February 2010 Details Coming Soon (REOS) Real Estate Owned Specialist Course February 23 & 24 9:00 a.m. - 4:00 p.m. Cost: $179 Over 25,000 agents have attended the REO Specialist course nationwide! This two-day course is divided into four segments: REO1 - BPOs and REO Listings REO2 - Managing Your REO Listing REO3 - Working with the Buyer Purchasing an REO Property REO4 - Financing Your REO Property and Technology Pending OREC approval for CE credit Or log on to tulsarealtors.com: from the main Member Services page, click the red Education Bar, then click Register for Classes You can also register by calling 663-7500 with Visa, MC, Amex or Discover or by mailing a check payable to GTAR: P.O. Box 470603, Tulsa, OK 74147 NEW (*If you previously took this course at GTAR, and are still in the same licensing period at the time of this offering, you cannot receive CE credit this time. Please be advised to keep records of courses that you have taken during a 3-year license period. You will not receive credit from OREC for duplicating the exact same course.) December 2009 9
December 2009 Monday Tuesday Wednesday Thursday Friday Happy Hanukkah Starts Dec. 12 7 11:30 a.m. - 1:30 p.m. Community Relations Committee - Wrap up Potluck Meeting 10:00-10:30 a.m. Commercial REALTOR of the Year Nominating Commitee 1:00-4:00 p.m. MarketLinx 2 14 8:15-9:00 a.m. Staff Meeting 8:15-9:00 a.m. Staff Meeting 10:00-10:30 a.m. RCA Banquet Committee 10:30-11:30 a.m. RCA Committee 1 2 8:15-9:00 a.m. Staff Meeting 3:00-4:00 p.m. Building 1:00-4:00 p.m. Computer Basics 1:30-2:30 p.m. RPAC Committee 8:30 a.m. - 12:00 p.m. New Member Orientation Committee @ Tanner Consulting 9:00-10:00 a.m. Urban Affairs Committee 3:00 p.m. GTAR/NORES Office Closes 3:00-4:00 p.m. Square Footage Task Force 8 9 9:00-10:00 a.m. RCA Education Committee 2:00-4:00 p.m. CIE-Xceligent Class 15 16 2:00-4:00 p.m. MarketLinx 3: Prospect Gateway 3 1:00-4:00 p.m. REALTOR Ethics (Req. PSC CE) 10 9:00-10:00 a.m. CIE Committee 9:00-10:00 a.m. Program Comm. 1:00-4:00 p.m. MarketLinx 1 5:00-7:00 p.m. Holiday RCA Insight Social @ McNellie s 17 10:30-11:30 a.m. NORES Board of Directors Meeting 12:00-3:00 p.m. GTAR Board of Directors Meeting 4 11 18 21 22 8:15-9:00 a.m. Staff Meeting 23 24 25 GTAR/NORES Office Closed 28 8:15-9:00 a.m. Staff Meeting 1:00-4:00 p.m. Realist Tax System 29 30 31 1:00-4:00 p.m. Publisher Class (v2007) GTAR/ NORES Office Closes @ 12:00 p.m. GTAR/NORES Holiday Schedule Tuesday, December 15: Office closes at 3:00 p.m. Thursday, December 24: Office closes at 12:00 p.m. Friday, December 25: Office is closed all day Thursday, December 31: Office closes at 12:00 p.m. Friday, January 1: Office is closed all day December 24 to January 4 Board Store Closed for Inventory The GTAR/NORES Board Store will be closed for inventory from noon Thursday, December 24 until noon on Monday, January 4, 2010, so please plan ahead. This will not affect Key and KeyBox purchases. WCR s December Networking Luncheon Lots Lots of of Chances Chances to to Industry professionals Win! Bunches of of Great pronounce Great Prizes! Prizes! Wednesday, December SUPER Prize for 9 Best at 11:30 Costume! a.m. Tons of Fun! SUPER Prize for Best Costume! Tons of Fun! Industry professionals pronounce it correctly. it correctly. Place: Ti Amo s Reception Costumes Hall (61st are optional & Sheridan) BUT encouraged! For Tickets: Call Mary Pearce at 496-9090 Cost: Members - $15; Non-Members - $20 For Sponsorship: Call Penny Roth at 637-5902 Please RSVP by Dec. 7: Call Heather Lamb at 231-4601. Plan to WIN in 2010! Come listen to a motivating and informative speaker on business plans and strategies for your business in 2010! Notice to Association Members Under the long-established policy of this Association, the Oklahoma Association of REALTORS, and the National Association of REALTORS : 1. The broker s compensation for services rendered in respect to any listing is solely a matter of negotiation between the broker and his or her client, and is not fixed, controlled, recommended, or maintained by any persons not a party to the listing agreement. 2. The compensation paid by a listing broker to a cooperating broker in respect to any listing is established by the listing broker and is not fixed, controlled, recommended, or maintained by any persons other than the listing broker.