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Page 1
RSVP INFORMATION
Plan on a ending? Please complete and return to Lori at CMAR Office by April 16, 2015
Central Michigan Associa on of REALTORS®
111 S. Lansing St., Mt. Pleasant ~ Fax 989‐773‐0193 ~ Email: [email protected]
Agent Name: ____________________________________________________________
Office: ___________________________________ Phone: _______________________
Permanent ID#: ______________________ Bring pocket card with permanent ID# along
with photo ID for hours to count toward Con‐Ed.
Are you planning on Bowing? Yes: ___ No: ___
111 S. LANSING ST, MT. PLEASANT MI 48858
E-mail: [email protected] or [email protected] Website: www.cmiar.com
LORI RHYNARD—ASSOCIATION EXECUTIVE
HOLLY BAXTER—ADMINISTRATIVE ASSISTANT
PHONE: (989) 773-2564 FAX: (989) 773-0193
Can you fin
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VOLUME 7, ISSUE 4
APRIL 2015
Please come show your support to our Affiliates! Put a face with a name…and thank the Affiliates for all they do throughout the year!
DATE:
APRIL 23, 2015 TIME:
12:30‐1:00: Registra on 1:00pm‐3:00pm: Greg McClelland, Legal Update (2 Con Ed credits) 3:00pm‐6:00pm: Expo Open, Networking, & 2 games of bowling
LOCATION: RIVERWOOD RESORT
1313 E. BROOMFIELD ROAD, MT. PLEASANT, MI 48858 COST:
$20.00 (CMAR MEMBERS INCLUDES LEGAL UPDATE AND 2 GAMES OF BOWLING)
Affiliate Affair & MAR Legal Update
Greg McClelland acts as a primary outside general counsel to the Michigan Associa on of REALTORS®. He au‐
thors a regular ar cle in the Michigan Realtor Magazine. He also has acted as a li ga on counsel for associa ons,
developers, general contractors, owners, and businesses for the past 30 years in bankruptcy, state and federal
courts and has tes fied as an expert witness with respect to real estate and business prac ces and li ga on.
Affiliates! Please see page 4 for more informa on.
Page 2
APRIL CALENDAR
1st
Bylaws Commi ee 1:00pm
6th
Publicity & Public Rela ons Commi ee 9:00am
7th
Membership/Benefits Drive Commi ee 9:00am
8th
Educa on/Program Commi ee 1:00pm
14th
Board of Directors Mee ng 8:30am
21st
Building Commi ee Mee ng 1:00pm
23rd
Affiliate Fair 1:00‐6:00pm
MAY CALENDAR
4th
Publicity & Public Rela ons Commi ee 9:00am
5th
Membership Commi ee 9:00am
6th
Educa on/Program Commi ee 9:00am
7th
Orienta on 10:00am‐3:30pm
12th
Board of Directors Mee ng 8:30am
Find Calendar of events and mee ngs any me at:
h p://www.cmiar.com/CMAR_Calendar_2014.html
MONTH SALES COMPARISONS
March
2014
March
2015
Units Sold 61 59
Average Sale $101,841 $117,799
Total $6,212,343 $6,950,150
1ST QUARTER SALES COMPARISONS
Jan‐Mar
2014
Jar‐Mar
2015
Units Sold 173 170
Average Sale $100,094 $105,128
Total $17,316,322 $17,871,923
Page 3
CMAR Mission Statement
Central Michigan Associa on Of Realtors® is dedicated to serving the community by preserving private property rights and providing educa onal, ethical, and professional services while holding the realtor® to a
high standard of accountability.
Great News for Buyer Clients Seeking Transfer Tax Refund! By Brian F. Westrin, Esq., Director of Legal Affairs
Do you have a buyer client who paid the transfer tax on a Fannie Mae or Freddie Mac property? We have great news to report ‐ A refund mechanism is now available.
By way of background, a 6th Circuit Court of Appeals determined last year that Fannie Mae and Freddie Mac are federal agencies exempt from State and County real estate transfer taxes. This 6th Circuit ruling overturned a lower court that said Michigan coun es could collect such taxes from Fannie Mae and Freddie Mac.
While Fannie Mae and Freddie Mac have steadfastly claimed that they remain exempt from all taxes of this nature, both agencies either already u lized or elected to adopt contract addendums to indemnify themselves from any unforeseen taxes on a sale, shi ing the poten al burden to the buyer during the pendency of the above court proceedings.
For a buyer that paid the transfer tax pursuant to an agreement with Fannie Mae or Freddie Mac, the 6th Circuit Court of Appeals decision was slightly less sa sfying. While Michigan law provides that a seller is responsible for payment of County and State transfer taxes, a seller can contractually agree to have a buyer assume that obliga on. Michigan law also provides for a refund mechanism, available to sellers having paid the tax in error or unnecessarily. The same refund mechanism had not been directly available to buyers having paid the tax – un l now.
The Michigan Department of Treasury has posted new instruc ons for affected buyers to directly apply for refunds on transfers concerning Fannie Mae and Freddie Mac.
The instruc ons and the refund form can be accessed here: h p://www.michigan.gov/documents/2796f7_2601_7.pdf
The prompt provides:
“For property owners who purchased from Fannie Mae or Freddie Mac: If you are seeking a refund of the SRETT paid on the purchase of the home, complete this form (2796) as if you were the seller of the home. You must a ach the following documents with the completed form:
Copy of your Se lement Statement (HUD‐1)
Copy of your RECORDED DEED containing the tax stamp.”
If you have a client in this situa on, you can provide them with the above informa on and advise them to contact Treasury with any ques ons. The direct contact for State Real Estate Transfer Tax inquiries is (517) 636‐0515.
A similar exemp on is available for the County Real Estate Transfer Tax. While Coun es may have varying approaches to refunds, it is worth advising your client to contact their County Treasurer to inquire about the process.
The Michigan REALTORS® is also suppor ng House Bill 4173, introduced by Representa ve David Maturen (R‐ Indian Lake), to enshrine into state law a buyer’s right to apply for a transfer tax refund. The bill would also clarify the applica on of exemp on ”u” under the State Real Estate Transfer Tax Act to mirror the important 2008 A orney General Opinion. As many of your will recall, exemp on “u” offers poten al tax relief for sellers whose property has declined in value from the me it was originally purchased to the me it was sold. We will con nue to update you on the progress of this important legisla on.
WELCOME NEW AGENTS:
Teddi Alexander, Central Real Estate
Tony R. Schmidt, Tony R. Schmidt Realty, Inc.
Gaylon Koutz, Century 21 Lee‐Mac Realty
BEST WISHES TO AGENTS MOVING ON:
Mary Fleming, Phillip Pierce, John Houdek
Page 4
WELCOME NEW AFFILIATES!!
This year, instead of wai ng for agents to visit your booth, Affiliates can mix and mingle with other members while having fun and making new business acquaintances.
Small tables will be available behind bowling alleys to display small promo onal items (brochures, business cards, etc.) Drawings for prizes (each Affiliate can bring own drawing prize) Cost for Affiliates is FREE unless you want to bowl, then $20
Please complete and return to CMAR office by April 16, 2015 Address: 111 S. Lansing St., Mt. Pleasant ~ Fax 989‐773‐0193 ~ Email: [email protected]
Company Name: _____________________________________________________________ Contact Person: ______________________________ Phone: _________________________ Names of A endees: __________________________________________________________ # bowling: ___________
Affiliate Affair Informa on for Affiliates
Page 5
UPDATE FROM MARCH NGLR MLS BOARD MEETING
Syndica on Policy (Broker Survey) ‐ Discussion took
place regarding ongoing changes in lis ng syndica on and how it will affect NGLR MLS members. A posi on statement has been sent to all NGLR MLS brokers and the representa ves feel a survey should follow. Three ques ons will be developed and sent out to the brokers as a survey.
RV Condo/Site Units—Discussion took place regarding the RV condo/site units in the Single Family class without the Seller’s Disclosure Statement. If they are to remain in the SF class, then the SDS must be uploaded into the Associated Documents. If no SDS, then they can be entered into the Vacant Land class.
NGLR IT Report Conversion in Paragon to the interna onal phone
numbers and addresses went forward with li le headache. Lis ng search was down for a short period on the 19th while Black Knight fixed a few RETS issues that were created during the process, but a er that, our website and all other lis ng data uses worked fine.
A long‐standing issue within Paragon regarding the photo count occasionally not being accurate appears to be corrected, so they are adjus ng the way photos are retrieved. This will eliminate a rare issue they had where not every photo for a lis ng was retrieved for the NGLR website.
Work con nues on addi onal compliance check features for use by the administrator, including checks of recently sold lis ngs for prompt status updates.
MLS Administrator Report New procedure for compliance email: First compliance
email will be sent to agent only. 2nd compliance email with a deadline to fix the issue will be sent to agent, broker and AE. No ce of fine will also be sent to agent, broker and AE.
Guest Lis ngs are increasing The Paragon enhancement on February 18 went
smoothly. However, the auto‐save feature has been inac vated due to reports of duplicated saves of lis ngs.
MAR Legal Lines – Question of the Month
W ith the help of McClelland & Anderson, we are taking the most recently asked questions from our legal hotline and putting them in E-news.
We will be featuring a different question each issue. QUESTION: I am both a licensed appraiser and licensed real estate broker. I have a partner who is a licensed appraiser. I will be on vacation and unavailable for two weeks. May I have my partner show one of my listings during this time? ANSWER: NO. Your partner is required to have a real estate license (not just an appraiser’s license) in order to show property.
MileIQ the smart mileage tracker
MileIQ uses your phone's built‐in
GPS to automa cally log your
mileage. Once you're done driv‐
ing, you can simply swipe to clas‐
sify a trip as a business expense. A
nice touch is the amount of miles
driven and deduc ons earned
displayed at the top of the app.
Think of it as extra mo va on to
keep diligently logging those
miles! The app is free for 40
drives per month; a premium
version tracks unlimited drives for
a low monthly or annual fee.
Page 6
CMAR Board of Directors Ac ons: March 2015
Mo on to make the Loons Game as part of our
Summer Event for 2015, Game to a end is August 21, 2015. Support, PASS Mo on to combine the Nomina on Commi ee
and Elec on Commi ee. Support, PASS. Mo on to extend the part me posi on an addi onal 5 hours a week thru May 29, 2015. Support, PASS Mo on to accept the revised Financial Policy and
Procedure as submi ed. Support, amended that policies take effect immediately with the
understanding the audit sec on amended to reflect the Core Standards. Support, PASS Mo on for Leslie Walton to move to the vacant
posi on of Treasurer un l next regular elec on, and Sue Welling will be appointed to Past
President and fulfill the rest of the year. Support, PASS Mo on to move the mid year commi ee chair
mee ng to the month of April for 2015. Support, PASS
See website for full monthly BOD minutes: h p:///cmiar.com/members/bodagendas.htm
About Good Neighbor AwardsREALTOR® Magazine's Good Neighbor Awards recognize REALTORS® who have made an extraordinary impact on their com-munity, or on the national or world stage, through volunteer work. Five winners are announced each fall in REALTOR® Magazine. Winners are recog-nized annually at the REALTORS® Confer-ence & Expo, and receive $10,000 grants for their charities. Winners also receive travel ex-penses to the conference and national and local media exposure for their community cause. In addition to the winners, five honora-ble mentions each receive a $2,500 grant. REALTOR® Magazine's Good Neighbor Awards was launched in 2000 and has since recognized more than 150 REALTORS® for their service to their communities. Through Good Neighbor Award grants and associated programs, Good Neighbor charities have re-ceived more than $1,000,000 in donations. In addition, each winner receives national and local publicity, which generates additional do-nations and inspires new volunteers to get involved. Many REALTORS® are also recog-nized for their community service through state and local real estate associations. This year's Good Neighbor Award deadline is May 15, 2015. Nominations are received from REALTORS® around the country, as well as through local and state Good Neighbor Award programs that serve as feeders to the national program. Applicants must be members of the NATIONAL ASSOCIATION OF REALTORS®.
For more information, go to www.REALTOR.org/gna
CMAR Vision Statement:
CMAR, a premier REALTORS® Association, provides focused educational opportunities, enriched
membership services, community involvement, and expansion of technology for its members and the public.