SAMCAR {RE}source | May 2008 by San Mateo County Association of REALTORS®

i. 2 / vol. I

May 2008 Monthly Newsletter of the San Mateo County Association of REALTORS速

www.samcar.org

In this issue

SAMCAR

Message from the CEO page 1 Message from the President page 2 Use SAMCAR Affiliates! page 3 Welcome New Members from April 2008 page 2

Legislative Legislative Updates pages 3, 4

C.A.R.

Oppose AB 2678 page 9 Updated Standard Forms page 8 Forms Advisor, Forms Tutor page 7

NAR

NAR Midyear Meetings in Washington, D.C. page 5 NAR announcements page 6

MLS

MLSListings, Inc. Updates page 10

Association News

Monthly Newsletter of The San Mateo Count y Association of REALTORS®

www.samcar.org tel. (650) 696-8200 fax (650) 342-7509 Board of Directors 2008 President President Elect Region 25 Chair Director Director Director Director Director Director Director Director Affiliate Director Director Director Director

Sue Walsh Olivia T. Edwards Geoffrey Craighead Tim Auran Eric Berggren John Clifford Nini De La Fuente-Pecson Bobbi Decker Suzan Getchell-Wallace Anne Oliva Jennifer Tasto Edgar Tulcanaza Sue Vaterlaus Marianne Zanone Rush David Zigal

Chief Executive Officer Philip B. Tedesco, RCE, CAE Editorial Team Michon Coleman Director of Public Affairs Dalen Gilbrech Publications Designer Our Vision The Voice for Real Estate Professionals and Property Owners in San Mateo County.

SAMCAR {RE}source is published monthly by the San Mateo County Association of REALTORS®, 850 Woodside Way, San Mateo, CA 94401 and distributed to more than 4,000 recipients. E-mail samcar@samcar.org your questions or comments.

Message from the CEO Philip B. Tedesco, RCE, CAE SAMCAR Chief Executive Officer

Spring is now upon us! I hope you are enjoying this exciting time of year. This is a busy time at SAMCAR. We are currently reviewing the progress made with the Strategic Plan, as well as the annual budget, to ensure both are properly aligned for the remainder of the year. The annual budget is approved in December, then reviewed and modified in July. SAMCAR continues to be strong financially, and the membership projections made for 2008 were a little conservative, so we didn’t see quite the drop in membership that we anticipated – which is excellent news! SAMCAR recently hired Dimitra Bizos, Government Affairs Coordinator, to assist with Government Affairs. Welcome Dimitra. I also want to recognize Judy Muller for her tenure with SAMCAR – this month marks her 31st year with SAMCAR! Congratulations, Judy and thank you for your continued service. Spring also brings a slew of legislative activity. In April, SAMCAR leadership and senior staff participated in the Progress Seminar, a two-day meeting of legislators and business leaders from throughout San Mateo County. This provided an excellent opportunity to spend quality time with leaders, decisionmakers and stakeholders throughout our community, further expand SAMCAR strategic alliances, as well as forge new ones.

In May, SAMCAR leadership and senior staff will be in Washington DC for NAR’s Mid-Year meetings and visits to Capitol Hill. This year, NAR’s top legislative issues are: (1) creating affordable housing opportunities through reforms to Fannie Mae & Freddie Mac; (2) protecting consumers in the real estate transaction, keeping banks out of real estate and expanding flood and natural disaster insurance coverage; and (3) enacting health care insurance legislation, with a specific focus on assisting small businesses. We are currently planning visits with our representatives in Congress – Representatives Anna Eshoo and Jackie Speier. Soon thereafter, SAMCAR will be in Sacramento for Legislative Day and the C.A.R. business meetings, ensuring continued support for real estate issues on the legislative agenda at the state level. The importance of these legislative relationships at the local, state and national levels cannot be overemphasized. That being said, we need your support. Please join us on May 7th at the San Francisco Zoo for a fundraiser for State Senator Leland Yee. The reception is from 5:30 to 7 p.m. To attend, you may give a contribution of $100, $250 or $500. Please RSVP to Beckie Patane at (650) 696-8220. Help us show Senator Yee how much we appreciate his support on our important issues.

Association News

Message from the President

Sue Walsh

2008 President

Good Or Bad Market? You Decide! We’ve all heard and read so many comments that this is a “BAD” real estate market. The media is full of stories that are discouraging, and sadden us for those unfortunately facing the loss of a home. Our mid-peninsula region has not had the harsh impact that much of the rest of the Bay area, state and nation has, although we do see some areas of short sales and foreclosures. Statistics locally are contradictory to those with a broader base. And yet the daily news continues to cry out that the market is bad! In speaking with Pete Aiello, manager of the Cashin - San Mateo office, he noted the use of terminology can make a big difference and have a direct effect on your success! So just exactly what is a GOOD market? Was it the time during the Dot Com boom when every house that came on the market had a minimum of 12-24 offers, the buyers had only one chance to look at it before making an offer, had to accept the disclosure package with a quick read and also any problems with the home itself no matter what the cost? Was that a good market? Or is it possible that the current market where buyers can look at the house a number of times before writing an offer, digest the disclosure package, actually get their own inspections, and negotiate any problems with the sellers is, maybe, a good market instead of a bad market?

Could the market be good and bad at the same time? One’s perception of the market will of course decide whether it is good or bad. If you were a buyer in the Dot Com boom market, it was a bad market, if you were a seller, it was a good market. The current market’s description, and for that matter any market’s description, will be decided by your perception.

May 2008

Welcome New Members

The Following Members Joined in April 2008

Realtors Michael F. Belmonte | MBS Capital Mtg & Realty Inc. Susan M. Cabrera | Susie Co, Inc.

What picture will you paint for a potential seller ... will it be that of a bad market with houses that are not selling and no interested buyers? Or will it be that of a good market where homes are taking a normal amount of time to sell since buyers are more cautious and aware of maintenance and lending issues which will give them the peace of mind in truly understanding their purchase? What will you tell a potential buyer... that the prices of homes are plummeting and to wait until next year? Or will you point out that this is a window of opportunity for buyers to look at a home in more depth and find just the right home at just the right price for them?

Weng Chia | Weng Chia, Broker

An agent can set the tone for clients and can guide a client’s perception of a market by their own knowledge and belief. It is important to understand that in every market there will be buyers and sellers. It is important to understand the way markets work and how the normal flow of people’s activities during the year influence the market (i.e. holidays, vacations). And it is critical to be fully informed about the elements that affect any purchase (lending, disclosures and inspections). There are opportunities in all markets for both buyers and sellers, and a successful agent will be well versed in every aspect.

Sandy Wofford | ZipRealty, Inc.

Watson Wu | Grace Realty Investment Inc. Peter Ye | Bay Area Estates, Inc. Johann A. Yuzon | Coldwell Banker

Affiliates Holly Brand | Wells Fargo Home Mortgage

I encourage all of you to send a message to your current and potential clients that the market is as good as you make it. And I encourage you also to contact SAMCAR for current statistics and other real estate needs to help you succeed! I truly believe this is a GREAT market! Happy selling!

Sally A. McLeod | Sally A. McLeod CPA

c.a.r. Legislative News

May 2008

Legislative Day 2008 is June 4th Legislative Day is right around the corner! If you haven’t attended in the past, Leg Day is the time of year when thousands of Californian REALTORS® arrive at the state capitol in Sacramento, and meet with their elected representatives to discuss real estaterelated issues and legislation. Meeting with legislators is critically important for two reasons: (1) the on-going state budget concerns, and (2) term limits. As you all know, California faces a budget deficit of staggering proportions. The Governor and Legislature have made cuts and are looking for ways in which to raise revenue. In turn, so too will the local governments. This often results in a rise in point-of-sale mandates and taxes. It is important that our REALTOR® voice is heard, to protect your interests and ability to do business. Term limits, which remain in effect with the defeat of Proposition 93, bring many new legislators to Sacramento. The relationships with legislators that CAR has nurtured over the years disappear over time, as incumbents are forced to relinquish their seats. This has brought wholesale change to the leadership of numerous

May 2008

message from

The Affiliate Council The Affiliate members of the San Mateo County Association of REALTORS® not only provide valuable goods and services important to your business, we help sponsor many of the events that take place in our Association. As affiliates, we also strive to give back to the community by helping raise money for worthy causes. You can find SAMCAR Affiliates on the SAMCAR website at: http://www.samcar.org/index.cfm/find_an_affiliate/ Select the category for which you are in need of a service. Contact information will be displayed for the members. Also, if you want your favorite vendor to have their name appear on this website, contact SAMCAR with their name and

committees, commissions, boards and departments. Many of the newly elected legislators are from the ranks of local government, with whom local associations have established relationships. If you are active in your Associations Local Government Relations committee, BORPAC, or simply involve yourself in the political arena, you can help to educate, inform and establish relationships with the newly elected legislators from your area. By joining the thousands of other REALTORS® on Legislative Day, the new and returning legislators see that REALTORS® are an organized, politically active and knowledgeable trade association to be taken seriously. Your participation can help to reinforce this message! In addition to the Legislative Day activities, C.A.R. will present the California REALTOR® Showcase during the June business meetings in Sacramento. Taking place at the Sacramento Convention Center, the showcase will feature more than 100 exhibit booths to help REALTORS® stay informed about the latest real estate products and services. For more information about how to participate in Legislative Day, please call Beckie Patane at (650) 696-8220.

Association News

Please Remember... Use SAMCAR Affiliates! mailing address and we will send an information packet inviting them to join the Association. There are numerous ways that you can utilize the knowledge and expertise that our affiliates have to offer. They will keep you informed of the current interest rates and loan programs available to assist your clients, share marketing tips to capture leads, and be great contributors to your team. Affiliates can be heard at the weekly marketing meeting providing information useful to all in the industry. Be sure to attend the numerous classes and speakers that affiliates promote. The dedication shown by our affiliate members is truly extraordinary. Getting involved in the SAMCAR community can be very rewarding

by giving one opportunities to network with other real estate professionals, build relationships in the local business community, make contact with potential clients, and as a avenue to express oneself outside of work. The SAMCAR Affiliate Council meets the first Tuesday of each month following the Combined Tour meeting. The next Affiliate Council meeting will be held May 6, 2008, at the Elks Lodge in San Mateo. All are encouraged to participate. We look forward to seeing you there!

Edgar Antonio Tulcanaza Affiliate Director

NAR Legislative News

May 2008

NAR Raises Concerns about Fannie and Freddie Policies On April 11, 2008, NAR President Dick Gaylord wrote letters to Fannie Mae CEO, Dan Mudd and Freddie Mac CEO, Dick Syron to raise serious concerns about a range of Fannie and Freddie policies that, taken as a whole, are hurting the entire national economy, not just the housing and mortgage markets. REALTORSÂŽ think there has been an overreaction by the GSEs and others in the housing finance industry that, even in the short term and certainly in the long term, will cause harm to the organizations involved by delaying recovery of the housing and mortgage markets. Many small individual policy decisions designed to keep the enterprises financially sound, when layered one upon another, have created major impediments to healthy mortgage and housing markets.

The letters address three main areas of concern A wide variety of higher fees and other underwriting standards that make mortgages much less affordable. Policies reducing maximum loan-to-value ratios (LTVs) by five percentage points for homes in declining markets. Extremely tight underwriting standards for jumbo conforming loans authorized by the Economic Stimulus Act.

To view the letters submitted by NAR in their entirety, please visit: http://www.realtor.org/fedistrk.nsf/pages/wk04142008?OpenDocument#report_4_04_14_2008

OFHEO Agrees Not to Reduce Conforming Loan Limits

Current Conforming Loan Limits

to stay in effect pending net increase in home prices

There is some positive news regarding Fannie Mae and Freddie Mac. In late April, the Office of Federal Housing Enterprise Oversight (OFHEO) released its final guidance on calculating conforming loan limits (CLLs). OFHEO is the federal regulator for Fannie Mae and Freddie Mac. In a major victory for the housing and mortgage markets, OFHEO reversed course and agreed to drop its proposal to decrease CLLs when the government survey of national average house prices shows a decrease. NARâ&#x20AC;&#x2122;s comment letter argued that OFHEO lacked statutory authority to lower CLLs and that the worst possible time to reduce CLLs is during a declining market. The OFHEO decision means that the current CLL of $417,000 will stay in effect until there is a net increase in home prices. OFHEO will keep track of any decreases (for 2006 and 2007, the combined decrease is 3.65 percent) and will offset the decreases against future increases. Only when there is a net increase, will OFHEO increase the CLL above $417,000.

May 2008

REALTORS® Travel to Washington, D.C. for NAR Midyear Meetings Beginning May 12th, REALTORS® from across the country will travel to our nation’s capitol to convene the National Association of REALTOR®’s governance meetings. However, a critical component of NAR’s yearly Midyear Meetings is legislative advocacy. NAR strongly encourages its members to participate in the efforts to promote the association’s legislative agenda. From individual meetings with key Members of Congress and government officials to specialized briefings and electronic communications, there is a way for every REALTOR® to participate.

NAR Updates

Creating affordable housing opportunities Fannie Mae/Freddie Mac reform The Association will work closely with the United States Senate when the Senate considers H.R. 1427, a measure to strengthen the regulatory oversight of Fannie Mae and Freddie Mac. NAR will also advocate an increase in the GSE conforming loan limit to better serve homebuyers in all regions of the country. FHA reform NAR will work closely with the House-Senate conference committee on FHA reform to ensure that FHA loans are once again a viable product in all mortgage markets nationwide.

As the largest professional trade association in the United States, NAR represents more than 1.3 million residential and commercial REALTORS® involved in all facets of the industry as brokers, salespeople, property managers, appraisers and counselors. NAR advocates policy initiatives that will result in the continued creation of a fundamentally sound and dynamic U.S. real estate market fostering vibrant communities in which to live and work.

Protecting consumers in the real estate transaction

On Wednesday, May 14th and Thursday, May 15th, REALTOR® members will visit Capitol Hill to meet personally with their members of Congress. Some of the important legislative issues that NAR will ask members to address include (see table at right)

Appraisal and mortgage reform NAR will participate in the Senate’s upcoming debate of legislation to reform appraisal, mortgage and anti-predatory lending practices and work to ensure that persons engaged in real estate brokerage and sales activities only are exempt from any proposed mortgage professional registration requirements.

REALTORS® are well known on Capitol Hill, particularly during the month of May. Thousands of members converge upon the Hill and make the REALTOR® voice heard. If you are interested in learning more about the Midyear meetings, or about NAR’s 2008 legislative agenda, please contact SCAOR for information.

Flood insurance NAR will advocate for Senate passage of legislation to reform the National Flood Insurance Program (NFIP) and continue to press for the financial resources needed for FEMA’s Floodplain Map Modernization Program.

It should also be noted that this year is particularly significant for NAR, as we will celebrate its Centennial Anniversary. Since 1908, the National Association and its members have been instrumental in establishing home ownership as a cornerstone of the American Dream and advocating private property rights as one of the fundamental principles that unite us as Americans. Congratulations and kudos to NAR!

Natural disaster Building on House passage of legislation to address the related problems of a lack of available and affordable property insurance in disaster-prone areas available and affordable property insurance in disaster-prone areas, NAR will continue to press for Senate consideration of legislation designed to deal with these insurance market failures.

Banks in real estate NAR will again press Congress to enact H.R. 111/S. 413, “the Community Choice in Real Estate Act,” a bill to permanently ban national banks from engaging in real estate brokerage and property management.

Enacting health care insurance legislation Small business health care insurance NAR will continue to raise the importance of passage of legislation to correct the inequities in the nation’s health insurance delivery system and work with the House and Senate to introduce legislation for consideration.

NAR Updates

Multicultural Real Estate Associations Develop Policy Partnership At this week’s National Association of Hispanic Real Estate Professional’s (NAHREP) Conference, NAHREP, the National Association of Real Estate Brokers (NAREB) and the Asian Real Estate Association (AREAA) joined forces to advocate on real estate issues with significant impact on predominantly Hispanic, African American and Asian American communities. A five point plan addresses issues resulting from subprime lending, predatory lending, and foreclosures. These actions focus on protecting homeownership, reversing declining markets policies, increasing multicultural counseling, restoring the public’s trust, and protecting the housing system. Many of their

specific policy actions are similar to NAR’s priorities for the year. For example, NAR is working closely with the three organizations on declining markets policies and has led efforts to reform FHA.

May 2008

Are You Up-to-date with NAR’s Required Quadrennial Ethics Training?

The National Association of REALTORS® requires that all REALTORS® complete a Quadrennial Ethics training course between January 1, 2005 and December 31, 2008. Every member must report one’s Ethics course completion information to one’s local Association. If you have taken an Ethics class for your DRE license renewal, this satisfies the NAR mandatory requirement. Please provide SAMCAR with a copy of your completion certificate.

REALTOR® Magazine Seeks Entries for Good Neighbor Awards REALTOR® Magazine is seeking nominations for the ninth annual REALTOR® Magazine Good Neighbor Awards. The National Association of REALTORS® annual program recognizes REALTORS® who’ve made an extraordinary commitment to their communities through volunteer work.

Five $10,000 grants will be awarded! Five winners will be announced the November issue of REALTOR® Magazine and at the 2008 REALTORS® Conference & Expo in Orlando. The winners will receive, among other things, a $10,000 grant for their community cause, national publicity, travel expenses to the convention, and a crystal trophy.

Or, for your convenience, you can take the required Ethics class online at your own computer. Go to: www.realtor.org Select “Take Code of Ethics Training” This course is free. According to NAR: failure to complete the Ethics training shall be considered a violation of a membership duty for which REALTOR® membership shall be suspended. Please be sure to complete the Quadrennial Ethics training NOW!

For more details, go to:

http://www.REALTOR.org/realtormag, click on Good Neighbor Awards under the Popular Features

section, call 800-874-6500, or see the ad in the March issue of REALTOR® Magazine. For the entry form, go to:

http://www.realtor.org/RMODaily.nsf/files/GN_Application_2008.pdf/$FILE/GN_Application_2008.pdf

Entry Deadline: May 23, 2008.

C.A.R. Updates

May 2008

Forms Advisor & Forms Tutor On April 1, 2008, CAR released Forms Advisor™ and Forms Tutor™ – two new innovative, free, programs that will help members select the proper forms for use during real estate transactions. Designed by and for REALTORS®, the innovative Forms Advisor™ and Forms Tutor™ online forms management tools join WINForms® as a standard benefit of membership in C.A.R. Capable of being used independently or in tandem with WINForms® Desktop, WINForms Online®, and WINForms OnlinePlus®, Forms Advisor™ and Forms Tutor™ provide brokers, sales associates, and transaction

coordinators with the opportunity to provide better service to their clients and avoid expensive and time-consuming litigation. Forms Advisor™ employs patent-pending business rules management technology designed to help REALTORS® determine which form to use during any stage of a real estate transaction, and if the C.A.R. forms library lacks a form appropriate to the unique circumstances of a transaction, advises the member what to do in that case. The Forms Tutor™ companion program was developed to assist new members through the process of completing forms in the C.A.R. forms library.

Using the Forms Advisor™ and Forms Tutor™ online tools, you can: Protect yourself against the potential for costly mistakes and time-consuming litigation Select the right form, at the right time, for every transaction Receive the instructions you need to fill out every form in the C.A.R. forms library Make your transaction coordinator’s or broker’s life easier by generating custom forms “templates” or checklists for every transaction Preview forms and obtain accurate legal guidance as you fill out the forms Access the entire library of C.A.R. Legal Q&As.

Many REALTORS® are negotiating new and unfamiliar territory these days. Foreclosures, short sales, bank REOs – all have unique requirements when it comes to real estate forms and disclosures. Even veteran agents who have completed these types of transactions in the past are discovering that the rules of the game have changed. Forms Advisor™ gives every REALTOR® access to information that is relevant and current with respect to their specific transaction. The only prerequisite to using Forms Advisor™ and Form Tutor™ is membership in C.A.R. The cost is FREE with your C.A.R. membership.

To access Forms Advisor™, simply sign in to your car.org account (if you use paper forms or WINForms® Desktop) or to your WINForms Online® account with WINForms Online® or WINForms OnlinePlus®: That’s all you have to do. There’s no software to download or update – ever. Future forms updates and additional product features will automatically be added. You can learn how to use Forms Advisor™/ Forms Tutor™ through interactive Webinars that take you through the features and functionality of the tools step by step. For more information about Forms Advisor™ and Forms Tutor™, or to sign up for a future Webinar, visit www.car.org or www.winforms.com.

C.A.R. Updates

Updated Standard Forms To Be Released

May 2008

Cancellation of Listing

Form COL

C.A.R. will be releasing new and newly revised standard forms next week. The April 2008 Forms Release is the first of two regularly scheduled releases each year. Some of the new changes are as follows:

This form has been revised to require the signature of the real estate broker or office manager to cancel the listing.

Trust Advisories

REO Advisories

Forms TA and TAL

Forms REO + REOL

REALTORS® may use these new forms when executing a listing agreement (Form TAL) or sales agreement (Form TA) for a property held in the name of a trust. These advisories inform sellers and buyers of the disclosure requirements and other issues concerning properties held in trusts.

REALTORS® may use these new forms to supplement a listing agreement (Form REOL) or purchase agreement (Form REO) to address issues pertaining to bank-owned properties. These advisories inform sellers and buyers of the REO disclosure requirements and exemptions. The advisories also state that brokers cannot give legal advice on lender-prepared agreements and other documents, and that the sellers and buyers should seek legal counsel regarding those documents.

Home Equity Explanation and Agency Agreement Form HEAA

Notice of Default Purchase Agreement

C.A.R.’s Home Equity Explanation and Agency Agreement (Form HEAA) has been eliminated. These changes were made to comport with a recent California Court of Appeal decision in Schweitzer v. Westminster Investments, ruling that the bond requirement for buyers’ agents under the home equity sales contracts law is unconstitutional and unenforceable.

Form NOPDA

+ Declaration and Proof of Real Estate License Form DPL

C.A.R. has already released a revised NODPA and a new DPL to accommodate a buyer’s agent representing an investor buying one-to-four residential units from an owner-occupied seller when a notice of default has been filed. To comply with the home equity sales contracts law, the buyer’s agent should also use the preexisting Notice of Cancellation of Notice of Default Purchase Agreement (Form HENC) (revised 1/06).

C.A.R. Updates

May 2008

C.A.R. Red Alert

Oppose AB 2678 – Point-of-Sale Mandate

C.A.R. is OPPOSING AB 2678 (Núñez) which will require a state agency to set up a process to require point-of-sale energy efficiency audits on ALL homes and commercial properties in California. These audits will cost up to $400 for homes and ultimately require point of sale energy efficiency retrofits that may cost thousands of dollars. While C.A.R. appreciates the goal of AB 2678, C.A.R. strongly opposes the point-of-sale requirements because they fail to achieve the bill’s objectives. Moreover, such mandates will further weaken the housing market. AB 2678 was just approved by the Assembly Utilities and Commerce committee and may be considered for a vote by the entire Assembly as soon as next week.

In 2006, legislation was passed which set extremely ambitious goals for greenhouse gas emissions; the first of which is to reduce green house gas emissions to 1990 levels by 2020. To meet this goal, all market sectors in California are being targeted for energy and emissions reducing rules and regulations. AB 2678 is an attempt to reach this goal, albeit a misguided one. C.A.R. has historically opposed point of sale retrofits: while they may be well intentioned, they are ineffective because they only apply to a small portion of the housing stock that changes hands every year, and they hurt housing affordability.

Here is why AB 2678 is a bad idea Point-of-sale takes too long. All homes will be subject to the requirements of AB 2678, but the California Energy Commission reports that approximately 70% of California’s existing housing stock was constructed prior to energy efficiency standards, which were adopted in 1978. These homes, which use up to 50% more energy for heating and cooling than new homes are the homes where retrofits and upgrades can create the “biggest bang for the buck”. Waiting for point-of-sale, however, to audit and retrofit these homes simply takes too long. C.A.R.’s research data concludes that only 22% of the homes built before 1980 (the homes most in need of retrofit) will change hands between now and 2020. By the time a point-of-sale program is devised and adopted, this number would be even lower. The pont-of sale approach falls critically short of reaching what is needed to achieve the state’s goals.

Point-of-sale mandates hurt housing affordability. Every $1,000 increase in the price of a home disqualifies 26,600 California households from achieving home ownership. Even in the current market, housing affordability in California remains abysmal. Home energy audits can cost up to $400+ per home to perform. In addition, mandatory point of sale energy efficiency investments can add thousands of dollars to the price of a home. Every dollar counts when buying a home; California families are finding it difficult to achieve and sustain home ownership. The point-of-sale mandates in AB 2678 will only make matters worse.

Here’s how you can help.

There’s a better alternative. To really achieve the goals of California’s statewide and national energy and environmental policies and commitments, the C.A.R. suggests that AB 2678 be amended to reach all California homes through a comprehensive, phased in, statewide approach that does not burden homeownership at its most vulnerable point – when it sells!

Contact your Assembly member today by calling 800-961-3302 and entering your NRDS ID. When you are connected to his or her office, ask that they OPPOSE AB 2678 unless the point-of-sale requirement is removed.

MLSListings News

May 2008

MLSListings, Inc. President & CEO Jim Harrison Speaks at April Broker-Manager Meeting Jim Harrison, MLSListings, Inc. President and CEO, was the featured speaker at April’s Broker-Manager meeting. During his presentation, Mr. Harrison provided a comprehensive overview of the many changes and enhancements currently underway. Mr. Harrison noted that it had been a challenging year, given the decline in membership, but that the company has explored a number of potential partnerships, including a data exchange arrangement with a Southern California MLS that contains 400,000 agents and listings. This collaboration would translate into significantly more information available to members. A press release regarding this agreement will be issued shortly. Also discussed were a set of common rules that have been in development and will be published at the end of April. Some of the

MLSListings DirectConnect Monthly online publication of MLSListings, Inc.

new rules include extending time frames in which to load listings and make changes to listings. Existing rules concerning privileged and confidential agent remarks will be tightened. Lastly, citeable infractions and commensurate penalties will be clarified as well. Going forward, Mr. Harrison noted that the main focus will be in the areas of customer satisfaction, fixing “bugs,” and completing a series of system enhancements regarding tax reports. Remote staff will be added to ensure all service areas have assistance, and enhanced security measures will be undertaken. Mr. Harrison took a number of questions from the audience, ranging from technical issues to the reasons why MLSListings has not signed on in support of C.A.R.’s proposed statewide MLS. Fortunately, he also made his staff available to attendees for further questions and answers following his presentation.

http://mlslistings.frogpond.com

MLSListings Board of Directors Meeting Recap The MLSListings, Inc. Board of Directors met on April 22, 2008. What follows is a summary of decisions reached during that meeting. The Board acknowledged the April 21 announcement of the agreement between MLSListings and Quattro to begin data-sharing later in 2008. Next steps include the selection of a vendor for the token required for Strong Authentication, a security measure adopted by a number of MLS’s around the country, including those in Quattro.

The Board voted to allow the MLSAlliance contract with eNeighborhoods to expire on June 30. The MLS’s most affected by this change are those in the East Bay who, after the announcement of the MLSListings datashare initiative with Quattro, are exploring the possibility of joining that initiative. The MLSXchange was discontinued on April 21 at the request of the East Bay MLS’s. The Board considered a request from REALTOR.com to provide “Sold” data to them for use in a new online valuation tool that they have developed. The Board declined to provide the data, a decision consistent with requests from other 3rd party vendors for similar information.

The Board voted to increase subscription fees beginning with June 1 renewals by $12 per month. Subscribers can opt for two payment methods: Annual billing: $576 ($48 per month) Semi-annual billing: $324 ($54 per month) Annual billing results in a savings of $72, or $6 per month. Several factors influenced the decision, including: The costs of data-sharing and consolidation efforts The evolving need to adopt tighter security on MLS data Overall economic conditions Decline in the number of subscribers The company’s commitment to high service delivery

MAY 2008 Weekly Education, Events & Tour Calendar

MAY 02 – 09 Su 27 04

Mo 28 05

Tu 29 06

We 30 07

Th 01 08

Fr 02 09

Sa 03 10

Classes & Events May 7 / 5:30 – 7 p.m.

reception in honor of senator Leland Yee See Flyer: http://www.samcar.org/userfiles/file/YEE08_flyer01.pdf Location: The Great Hall of the SAN FRANCISCO ZOO Contributions: $500, $250, or $100 | RSVP: Beckie Patane 650-696-8220

May 8 8 a.m. – 5 p.m.

Gri 113: real Property, tax and exchanging Location: SAMCAR| Cost: $149 Sign-up: http://www.eDesignations.com or 888-785-4800

May 19 9 a.m. – 12 p.m.

“selling foreclosures to investors” No CE credit. | Location: SAMCAR | Instructor: Duane Gomer Cost: $85 in advance; $95 at the door | Registration: 650-696-8200

May 21 / 1 – 4 p.m. DEADLINE to Sign up: Friday, May 16

Continuing education optional review & testing (reVei) Cost: $99 for members ($119 for non-members) Location: SAMCAR | Registration: call SAMCAR, 650-696-8200

May 22 5:30 – 8:30 p.m.

Women’s Council of REALTORS® San Mateo County Chapter Margarita Mixer A fun evening of eating, drinking and networking with colleagues and clients Location: Chevy’s Restaurant, Foster City | Cost: $25 RSVP: cgalletti@apr.com or apalermo@ortc.com

May 23 1 p.m.

WiNforms® training WINForms® is the electronic standard forms software you receive FREE as a C.A.R. member. Location: SAMCAR | Instructor: Bernie Martinez Registration: http://www.samcar.org/calendar or 650-696-8200

May 29 & 30 8:30 a.m. – 4 p.m. (both days)

sres designation Class (seniors real estate specialist) Course fee includes first year’s membership in the SRES Council. Cost: $399 | Location: SAMCAR | Instructor: Debbie Rodgers Registration: http://www.coachingtoexcellence.com or 650-696-8200

June 4 10 a.m.

Marketing Meetings Tuesday, May 6 8:30 a.m. May Combined Tour Elks Lodge 229 West 20th Avenue San Mateo Presentation:

Albert e. CordovA

C.A.R. Strategic Defense Attorney

9 a.m. Half Moon Bay Tour Community Center 535 Kelly Avenue Half Moon Bay

9:30 a.m. Pacifica Tour Community Center 540 Crespi Drive Pacifica

SAMCAR Board of Directors Meetings May 28 8:30 a.m.

sAMCAr Board of directors Meeting, May 2008 Members welcome to attend these monthly meetings. | Location: SAMCAR

Legislative Committee Meetings May 21 9:30 – 11 a.m.

Peninsula North Legislative Committee Meeting Members welcome to attend these monthly meetings. Location: Financial Title Co., 1001 Bayhill Dr., Ste. 185, San Bruno

May 15 9:30 – 11 a.m.

Peninsula south Legislative Committee Meeting Members welcome to attend these monthly meetings. Location: Coldwell Banker, 580 El Camino, San Carlos

June 5 10 a.m.

PACifiCA Legislative Committee Meeting Location: Old Republic Title in Pacifica Linda Mar

May 14 10 – 11 a.m.

CoAstside Legislative Committee Meeting Location: RE/MAX Dolphin Half Moon Bay, Conference Room

MLS Tour Sheet Deadline Reminder Broker/Property tours Tuesdays 9:30 a.m. – 1:30 p.m. Deadline to add tours in MLS Mondays, 11 a.m. Entry deadlines are subject to change for holidays. Deadline for Monday holidays prior Friday at 11 a.m. View tour sheet by Monday afternoon http://www.samcar.org/index.cfm/tour_information.htm