REALTOR® Hotsheet
 Volume 15, Number 2 ◊ January 29, 2010

Please note: Many links in this newsletter are accessible to registered users of http://www.ctrealtor.com/ only.
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2010 REALTORS® at the Capitol -
March 24th

The Connecticut Association of REALTORS®, Inc. presents the 26th Annual REALTORS® at the Capitol event on March 24, 2010. For over 25 years, Connecticut REALTORS® have been coming together to meet with State Senators and Representatives to let them know our views on the issues that affect our business. Having a significant size group at this event will make a difference. Your participation will help show the Legislators that our views are important and we need to be heard. This event is open to members of the Connecticut Association of REALTORS® only. There is no fee to attend. Click here to register today! By participating in this CAR event/program, you can earn 2 “Get Active” member rewards program points! Go to http://www.ctrealtor.com/getactive for further details.

 

Did You Remember to Renew Your License?

The Real Estate commission has noted an increase in the number of salespeople who did not renew their licenses but who continue to practice real estate. Some of these salespeople are under the mistaken impression that there is a “grace period’ to pay the renewal fee. There is no such thing. A salesperson who does not renew their license by April 30th, with the fee paid, has no license and may not continue to engage in the real estate business. A license may be reinstated without the necessity of taking principles and practices and passing an exam if the reinstatement is performed, and this includes paying all back renewal fees, within 2 years of the date the license expired. Brokers are reminded that they are responsible for the unlicensed practice of their salespeople and the Real Estate Commission will fine brokers who have unlicensed salespersons working for them. 2010 is a CE year for license renewal.  There will be a 100% audit by the State using the database maintained by PSI of CE course completions entered by school. Check out the education section of our website at http://www.ctrealtor.com  for further information and options for completing all of your license renewal CE requirements.

For further information please email CAR’s General Counsel Eugene Marconi or for education specific info email Brett Moody. You can call either of them at the CAR office at

at (860) 290-6601 or (800) 335-4862.

Please Support Haiti Relief Efforts

Ken DelVecchio, Chairman of the Connecticut Association of REALTORS® Foundation, Inc., urges members to donate to the Foundation to support the relief efforts in Haiti.  The Connecticut Association of REALTORS® Foundation, Inc. is a 501(c)(3) corporation established by CAR in 2009.  Click here to contribute.

CAR is on Facebook

You can now follow CAR’s facebook page for news and information here.

 

Get Active!

2010 CAR President Nicholle Dagata’s theme for the upcoming year is “You Make the Difference”. She firmly believes in the value of CAR’s programs/services, the absolute necessity for member involvement and truly welcomes every member’s input on Association activities. In conjunction with this, CAR is introducing the “Get Active” Member Rewards program. Visit http://www.ctrealtor.com/getactive for more information on how you can get active and get rewarded!

RPAC: Power of Political Involvement Conference Held

75 politically active REALTORS® attended this year’s “Power of Political Involvement” conference on Thursday, January 21. Objectives for this event included teaching REALTORS® ways to remain involved in shaping public policy from communicating with legislators to recommending candidates for RPAC support.

Chris Gosselin, NAR Political Representative, reviewed NAR’s website and the REALTOR® Action Center. Everyone who attended should be ready to respond quickly when they receive a Call For Action! Senator Bob Duff, Senator Joan Hartley, Senator Tony Guglielmo, and Representative Corky Mazurek were featured speakers. If you were not able to attend but would like more information or you would like to join your local RPAC committee and help us get started with the 2010 RPAC Fundraising campaign, please contact Holly Reed, CAR’s Political Fundraising Assistant.

It's Not Too Soon to Recommend RPAC-Backed Candidates For Congress

REALTORS® who have carefully thought-out opinions on why someone would make a good US Representative or US Senator are important to the Trustees of RPAC.  Please use the RPAC Candidate Recommendation form to make

your views known. Connecticut’s Trustees make recommendations to the NAR Trustees based on a variety of factors including input from the members.

Closing Service Providers Sponsoring Events

CAR had received inquiries as to whether sponsorships of Board events by closing service providers such as attorney’s, home inspectors, lenders etc. constitute a RESPA violation. They do not. These are considered general promotional activities by definition since the sponsorships are provided to the local Board and not to individual agents or firms. RESPA prohibits the payment of a consideration in exchange for an agreement for the referral of closing business. It does not prohibit sponsoring activities, educational events, and meetings of a local Board. Such sponsorships are considered advertising. For further information, please contact CAR’s General Counsel Eugene Marconi at (860) 290-6601 or (800) 335-4862, or marconie@ctrealtor.com.

SRES: Register with a Friend, Save $200! Deal Expires February 5th!

Register with a friend to earn your SRES Designation for as little as $250 each. That’s $100 off the already reduced early bird/discounted course price. REALTORS® who want to specialize in the real estate needs of the 50+ market should register for the SRES designation course which will be held at the Midd-Shore Association Office in Old Saybrook on February 16 & 17. This course also satisfies the elective Continuing Education (CE) credit necessary for 2010 license renewal.

To register for the extra savings, click here.  Be sure to complete all the required information and remember to use Promo Code FRIEND on the registration page.  If you have any questions or for more information, email Brett Moody or call 860-290-6601, ext. 308. Click here http://www.ctrealtor.com/education/ for a full schedule of upcoming courses. 

Appraisal-1: Register By 2/12 and Save $25!

Appraisal-1 will be held at the CAR office, in East Hartford, beginning on April 1. This program meets the minimum requirements as set forth by Connecticut's Real Estate Commission and is approved for 30 hours of Broker Pre-licensing credit AND six hours of Elective Credit for Salespersons 2010 license renewal. For full details and to register click here or email Brett Moody or call 1-800-335-4862, ext. 308.

Congratulations GRI Graduates!

CAR awarded the Graduate, REALTOR® Institute Designation to the following individuals during the Fall 2009 semester: Kenneth D’Ademo, Patricia Erricson, Hasty Foreman, Christopher Grant, Robert Lang, Cynthia Lombardo, Pamela McNulty-Hennessey, James Piro, Clifford Stamm, Mari Vasan, Rosemarie Vigdal, and MaryBeth Welsh. CAR congratulates them on this great accomplishment! If you are interested in learning more about the GRI Designation and 2010 offerings, click here. 

In This Issue:

 Hotsheet Legal Tip

Real Estate Teams and Advertising

While real estate “teams” are not legally recognized in CT, they are often used in advertising. Under Article 12 of the Code of Ethics, REALTORS® must present a “true picture” in their advertising, marketing, and other representations. At the November 2009 Annual Governance Meeting in San Diego, the Professional Standards Committee recommended that Standard of Practice 12-5 be amended (the addition is in italics and underlined) to ensure that advertising by real estate “teams” meets the Code of Ethics’ “true picture” requirement by ensuring that firm names are properly displayed. The Board approved the amended SOP 12-5 to read: “REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise real estate services or listed property in any medium (e.g., electronically, print, radio television, etc.) without disclosing the name of that REALTOR®’S firm in a reasonable and readily apparent manner.”

Real Estate News

FHA to Provide Early Relief to Struggling Homeowners

In an announcement Friday, HUD said homeowners with mortgages insured by the Federal Housing Administration (FHA) who are experiencing financial hardship are now eligible for loss mitigation assistance before they fall behind on their mortgage payments. For the entire article, click here.
 

Source: REAL Trends
 

For more interesting real estate news, please visit here.


111 Founders Plaza, Suite 1101
East Hartford, CT 06108
1-800-335-4862
Fax (860) 290-6615
www.ctrealtor.com

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