December 2011 - Wisconsin Real Estate Magazine

STOP LEARNING, STOP EARNINGIt’s more than just a rhyme.

DISTRESS SALE DISPuTESTips to make these disputes not so distressing.

$5.00December 2011 MAGAZINE

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DESignAtiOnSWhat You and Your Clients Should Know

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North CentralHome of the Best Agents®

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december 2011 | vol. 28, no. 3

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table of contents

Designations and Certifications: What You and Your Clients Should KnowWant to increase income as well as enhance your image? (No? You’re probably crazy.) Find out which designations and certifications are right for you and for your clients.

Distress Sale DisputesWith various practice tips, learn how you can achieve success in these challenging and complicated transactions.

Stop Learning and You’ll Stop Earning!It’s not just a rhyme; it’s a fact: REALTORS® with the advanced education from a designation earn nearly twice as much as their cohorts without designations.

Wisconsin is Presidential Battleground StateA combination of the 2011 results and recent polling in Wisconsin provides hints for what to expect in the 2012 elections.

features articles

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5 LogintoWRA.org A reminder of how and why you should access member-

only information on the WRA’s website.

10 DoYouKnowWhereYourListingsAre? An overview of syndication agreements, including contract details, consequences of agreements and the possibility of inaccurate listing information being public.

14 BestoftheLegalHotline:ShiftHappens Questions and answers highlighting agents shifting to

new companies, new approaches to referrals, the roles of personal assistants and more.

24 ProposedLegislationSeekstoModifyPierRegulations...AgainThe WRA supports proposed legislative modifications impacting waterfront property owners.

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wisconsin real estate magazine | december 2011 1

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United Way Honors tHe stark Family For service to commUnityUnited Way of Dane County

United Way of Dane County recognized the Stark Family with the 2008 Tocqueville Society Award for outstanding service to the Dane County community and United Way. The Tocqueville Society Award c e l e b r a t e s and acknowledges people or families, such as the Starks, who have made a major impact on the quality of life in Dane County through their exceptional service and commitment to the community.

city HoUsing aUtHority receives 100-Unit grantMilwaukee Journal Sentinel (09/25/08) Pabst, Georgia

The city of Milwaukee’s housing authority is due to receive $6.7 million in federal Hope VI money to build 100 new housing units. The 100 units will be constructed in a 2.5-mile area and will include 29 public housing and affordable rental units; nine affordable housing units for income-eligible families; and 62 moderately priced, open-market condominiums. HUD Secretary Steven C. Preston comments, “Milwaukee’s housing authority has demonstrated it has the leadership to lead and revitalize neighborhoods and transform lives. Cities like Milwaukee change and grow and need to revitalize housing to make sure many aren’t priced out.” Milwaukee is one of a half-dozen housing authorities nationwide to receive new Hope VI grants.

HoUsing stUdy delay FrUstrates advocatesMilwaukee Journal Sentinel (10/07/08) Williams, Scott

Two years after promising the Milwaukee metro area’s first major housing study in three decades, the Southeastern Wisconsin Regional Planning Commission (SEWRPC) is still struggling to get the effort launched. Proponents hope the study will serve as a catalyst for improving affordable housing opportunities throughout the city’s suburbs. But commissioners have yet to assemble an advisory committee to oversee the research or set a specific timetable for conducting the survey. Phil Evenson, the commission’s executive director, said other issues keep getting in the way. The delays have frustrated housing advocates the most. Bethany Sanchez, vice president of the Metropolitan Milwaukee Fair Housing Council, laments, “It’s been a long time coming.” The Pewaukee-based commission has not conducted a comprehensive review of housing patterns since the 1970s.

Wisconsin receives millions to ease ForeclosUre crisis Milwaukee Business Journal (WI) (09/30/08)

The state of Wisconsin is due to receive nearly $39 million in federal funds to stabilize neighborhoods and stave off a spate of abandoned homes. According to HUD and Gov. Jim Doyle, the funds are separate from approximately $9.2 million the government is awarding the city of Milwaukee, where the foreclosure rate is currently 9.9 percent. HUD is awarding the funds via its Neighborhood Stabilization Program, under which almost $4 billion is being allocated to local and state governments for the redevelopment of abandoned and foreclosed houses.

sites: not JUst For Personal connections anymoreMinneapolis-St. Paul Business Journal (09/29/08) Grayson, Katharine

St. Paul, Minn.-based REALTOR® Teresa Boardman says Flickr, Facebook and other social networking sites make it easy to meet people who might eventually become clients. While many professionals are using these sites to make business contacts and companies use them to conduct background checks or recruit new workers, many simply want to connect with people who have similar interests. According to Boardman, “The hard sell is dead. It doesn’t work door-to-door, and it doesn’t work on social networks.” On Flickr, Boardman connected with a fellow photographer who eventually used her services to purchase a home.

ForeclosUres PUsH rents HigHer, sqUeezing loW income FamiliesMinnesota Public Radio (MN) (09/21/08) Olson, Dan

In Minnesota’s Twin Cities, a wave of home foreclosures has pushed more people into the rental apartment sector. The result is an intensifying demand on Minneapolis and St. Paul’s rental housing stock, so much so that the vacancy rate is very low and rents are on the rise. This, in turn, means low-income working families face higher monthly rents even though their income hovers at unchanging levels. Since 2005, the Twin Cities apartment vacancy rate has dipped from 7 percent to closer to 4 percent. Average monthly rents over that same time span are up more than $25, rising to more than $850. The St. Paul-based Wilder Foundation recently reviewed income data for several Twin Cities counties. The organization’s research found that the number of people in those markets paying too much for their rental housing will double from around 70,000 currently to a whopping 140,000 by 2010. Some say a partial solution would be for the U.S. government to reverse course on housing policy and

substantially increase funding for rental assistance,

particularly help for working families.

nar releases Free FHa toolkit Wisconsin REALTORS® Association (10/30/08)

NAR and the WRA are eager to help you meet the

current challenges of the troubled economy. We

know that you need resources that can help you

close transactions, and you need them at little or no

cost. NAR has just released an all-new FHA Toolkit

online for FREE to help you get clients the financing

they need in a credit-strapped environment. It is

one of the most comprehensive toolkits NAR has

ever produced, and it’s available to all REALTORS®

right now by visiting the link below. They also have

launched a new page called “NAR Helps You Navigate

the Current Economy” where you can find dozens of

great products and resources, like the FHA Toolkit,

for free or at a steep discount. Visit www.Realtor.

org/NARHelpsYou for links to these great programs

and products.

Home loans going strong, albeit a bit tigHter, in area Wisconsin State Journal (10/17/08) Balousek, Marv

Despite the ongoing national credit crisis, property

professionals say mortgage money remains available

throughout southern Wisconsin to home buyers

with solid credit. Ron Steinhofer, manager of

Marshall & Ilsley Bank’s regional home lending

group, states, “There’s plenty of money for home

loans out there. It is slightly more difficult to qualify

than two or three years ago, but if you have a good

credit score, a good job and a down payment, money

is available.” Steinhofer adds that banks still are

making loans via such programs as Fannie Mae

and Freddie Mac. Furthermore, credit standards

remain about the same as they were six months ago,

meaning that qualified home buyers can get loans

if they have the proper income verification. On the

downside, banks have been less willing to make

loans with higher loan-to-value ratios. In addition,

conventional financing without a down payment has

indeed disappeared. However, 100 percent financing

is still available with Veterans Administration and

Rural Development home loans.

News

Top News Stories in and Around the Industry

Bill MalkasianWRA President

ver the past several weeks, I’ve been asked byjournalists, policymakers and members aboutWisconsin’s realestatemarket.Theywant toknowhowwe’redoing.Theyexpectmetotalkaboutthe

economy,consumersandpublicpolicies,buttheyprobablydon’texpectmetotalkaboutyou.ButIdo.

Fromaneconomicperspective,Wisconsin’seconomyhasfaredslightly better than that of thenation.Ourunemployment rate,forexample, isa full percentagepointbetter than thenationalaverageover thefirst ninemonths of the year.But our overalljobgrowthremainsflat,withslightimprovementsintheprivatesector offset by reductions in public sector jobs. Until the jobmarketimproves,thehousingmarketwillremainsoft.

Butthereishope.Wisconsinhasrecoveredfromlongstretchesofhighunemploymentinthepasttoseeoureconomygrowagain.Inthedouble-diprecessionof1980-82,Wisconsin’sunemploymentratetoppedoffat11.5percentanditremainedindoubledigitsforoverayear.Itdidn’tgobackdownbelow5percentuntil1987.Bycontrastinthisrecession,ourunemploymentratepeakedat9.2 percent, having hovered in the 7.3 percent to 7.9 percentrangesinceSeptember2010.

While housing prices in Wisconsin have declined, they havefallenatanannualizedpaceoflessthan5percentinthesecondquarterofthisyear-that’smuchbetterthanmanyotherstates.Andwhile thedrophasnothelpedcurrenthomeowners, ithasimproved the affordability of homes for those looking to buy.Howeverwithmorethan15monthsof inventoryasofOctober,wecanexpectthebuyer’smarkettocontinuethroughout2012.

Fromaconsumerperspective,theseunemploymentnumbersareamajorcontributortoa lackofconfidence.Theirconfidenceisfurtherweakenedbyconfusingnewground rules forobtainingfinancingasevencreditworthybuyersarehesitanttoenterthemarket, despite historically low interest rates and affordableprices.

From a public policy perspective, we’re in an equally toughmarket.Our lawmakersmustmakeharddecisions to addresschronic budget deficits, but they are doing so at a time whendemandforbasicsocialservicesisincreasingandtheneedforinvestmentininfrastructureandeducationsystemsisalsorising.Whetheryousupportbudgetactionsbythelegislaturethisyearoryousupportalternativesolutions,thesetoughdecisionsweremadewithoutincreasingpropertytaxeswhichcouldhavefurtherweakenedanalready-fragilehousingmarket.

After reviewing these and other facts aboutthe economy, consumers, and public policies,I then tell those posing the question about you,theREALTOR®, and your role in thismarket.Whileit’s true that our membership has fallen from about19,000attheheightofthehousingbubbletoamorehistorically normal 13,000 today, the REALTORS® oftoday are the survivors – the best of the best.You aretheexpertsineachandeverylocalmarket;theexpertsonhowtonavigatenewbankingrulesandpracticestosecurefinancing;theexpertsonpricing,marketingandbringingtherightbuyersandsellerstogether.Nowmorethaneverbefore,consumersneedtheexpertiseofaWisconsinREALTOR®.AndthoseconsumerswhoengageaREALTOR®todaywillfindhowtotakeadvantageoftoday’smarketdespiteallthechallenges.

In the print pages of this magazine or the screen pages ofour website and e-mails, you’ll see theWRA talk a lot aboutthe economy, consumers, and public policies that impact ourmarket.Butwhat’sequally important is theexpertise that youbringtothatmarket.It’sagoodtimetoinvestinthatexpertise.Take advantage of the educational opportunities to improveyour skills, whether through quality continuing education orby seekingprofessional designations.Thismarket, aswell asall future markets, will depend on the expertise ofWisconsinREALTORS®.Makesureyou’rereadybyinvestinginyou.

HappyHolidays,

MikeTheo

with mike theo

o

inside the wra

2 wisconsin real estate magazine | december 2011 www.wra.org/wrem

Our Market and You


rob keefe, [email protected]

renny diedrich, [email protected]

steve lane, [email protected]

michael theo, cae, [email protected]

editorial staff:

michael theoPublisher

robert UhrinaManaging Editor

lauren bizorikEditor

Joe leschisinSenior Designer

Wisconsin Real Estate Magazine, USPS 597-850, ISSN 1548-0526, is published monthly by the WISCONSIN REALTORS® ASSOCIATION, 4801 Forest Run Road, Ste. 201, Madison, WI 53704. Periodical postage paid in Madison, WI and additional mailing offices. An annual subscription rate of $5 is included in membership dues and a copy is mailed to every paid REALTOR® and affiliate member of the association. Nonmember subscription rate: $60. POSTMASTER: please send address changes to the WISCONSIN REALTORS® ASSOCIATION, 4801 Forest Run Rd., Ste. 201, Madison WI 53704-7337.

Permission to reprint or quote any material from this issue is hereby granted, provided the Wisconsin Real Estate Magazine is given proper credit in all articles or commentaries, and the WISCONSIN REALTORS® ASSOCIATION is provided with a copy of any reprint.

Advertising of third party products and services herein does not imply endorsement by the WRA unless specifically stated. Furthermore, the WRA does not endorse, approve, or otherwise warrant the accuracy or legality of any information or content contained in advertisements. Any questions regarding advertising policies should be directed toward the editor.

contact Us:

4801 Forest Run Rd., Suite 201 Madison, WI, 53704-7337(608) 241-2047 • (800) 279-1972

legal hotline: (608) 242-2296 • (800) 799-4468general fax: (608) 241-2901 products/education fax: (608) 241-5168 legal hotline fax: (608) 242-2279 president fax: (608) 242-2267 e-mail: [email protected] Website: www.wra.org

Wisconsin Real Estate Magazine™ is published by the Wisconsin realtors® association. Trademark issued pursuant to Wisconsin state statute; federal

trademark is pending.Real estate

notes from the wra

facebook: www.facebook.com/wisconsinrealtorstwitter: www.twitter.com/wirealtorslinked-in: www.wra.org/linkedinyoutube: www.wra.org/youtube

college scholarships availableTheselectionprocessisnowunderwayforthe2012WisconsinREALTORS®FoundationREALTOR®Children’sScholarshipprogram.ThisprogramawardscollegescholarshipstochildrenofWRAmembers.Thefoundationisoffering10scholarshipsintheamountof$750each.ThedeadlineforsubmittinganapplicationisMarch9,2012.Theapplication isavailableonlineatwww.wra.org/ChildScholarshipAppl/[email protected].

Wra general membership meetingWRAmembersareinvitedtoattendtheWRA’sGeneralMembershipmeeting.

WHEN: 3:00p.m.,Thursday,January19,2012

WHERE: HolidayInnattheAmericanCenter

5109WestTerraceDrive

Madison,Wisconsin

AGENDA: I.CalltoOrder–RobKeefe,ChairmanoftheBoard

II.AssociationIssues

III.Adjournment

Formoreinformation,callSandyBolgrihnat(608)241-2047or(800)279-1972.

Wra Holiday Hours

TheWRAholidayhoursareasfollows:

Friday,December23:closedMonday,December26:closedFriday,December30:closedatnoonMonday,January2:closedHappyHolidaystoallofourmembers!

Wra nominating committee seeks candidatesAreyouinterestedinservinginaleadershiproleforyourstateassociation?TheWRANominatingCommitteeisseekingcandidatesforthepositionsof2012-2013Chairman-ElectandTreasurer.Theapplicationisavailablefrom theWRA website or by contacting Sandy Bolgrihn at theWRA at [email protected]. The deadline forsubmittinganapplicationisDecember30,2011.

In addition, the Nominating Committee is seeking applications for the positions of 2012-2013 ExecutiveCommitteeVicePresident,NARDirectorandWRABoardofDirectorRegionalRepresentative.PleasenotethatthenumberofopeningsforRegionalRepresentativeisdeterminedbythemembershipasofFebruary28,2012.TheapplicationdeadlineisMarch15,2012.

WhenyoutakeadvantageofNAR’sREALTORBenefits®Program,youcanchoosefromavarietyofvaluableoffersandsavingsfromindustryleaders.Plus,everypartnerprovidesproductsandservicesthatyoucanuseeverydayinbothyourbusinessandpersonallife.Formoredetails,visitwww.realtor.org/realtor_benefits.

nar’s realtor benefits® Program

Marketing Entertainment®PromotionsFedEx®

FedExOfficeSM

Lowe’sREALTOR.com®

REALTORTeamStore®

IfbyphoneTechnology DellDocuSign®

HewlettPackardLenovo

Financial Services & Personal Protection AmericanHomeShieldIdentitySecure®

REALTORS®FederalCreditUnion

Educational Tools ABRSRESePROSFRGREENDesignation

relay®

SentriLockLLCXeroxzipForm®

Ifbyphone

InsuranceVictorO.Schinnerer&CompanyInc.E&OInsuranceLibertyMutualREALTORS®CoreHealthInsuranceREALTORS®DentalInsurance

As of 11/15/2011. Subject to change.

Office Solutions FedEx®

FedExOfficeSM

OfficeMax®

Travel AvisBudgetNew!ChryslerHertz


monthly wisconsin housing reportnews

WISCONSIN HOUSING STATISTICS MONTHLY ACTIVITY - OCTOBER 2011 Statewide OCT-2011 OCT-2010 % Change YTD-2011 YTD-2010 % Change

NewListings 6,671 8,116 -17.8% 97,169 115,691 -16.0% ClosedSales 4,342 3,825 13.5% 44,312 45,606 -2.8%MedianSalesPrices $129,000 $139,900 -7.8% $132,000 $140,000 -5.7%

Median Price Existing Home Sales Region OCT-2011 OCT-2010 % Change OCT-2011 OCT-2010 % Change

Southeast $139,110 $154,750 -10.1% 1,493 1,253 19.2%SouthCentral $150,000 $153,000 -2.0% 782 694 12.7%West $122,500 $135,000 -9.3% 480 413 16.2%Northeast $116,900 $129,900 -10.0% 775 695 11.5%Central $107,000 $113,000 -5.3% 289 249 16.1%North $115,000 $120,000 -4.2% 516 506 2.0%

>

ByDaviDE.Clark,EConomist,C3statistiCalsolutions

For the fourth straight month, Wisconsin’s monthly home sales outpaced last year while median

prices continued to fall, according to data released by the Wisconsin REALTORS® Association (WRA). Existing home sales increased 13.5 percent in October compared to October 2010, and median prices fell 7.8 percent over the same period to $129,000.

“We are continuing the trends seen throughout the third quarter with home sales well above the depressed levels of 2010,” said Rob Keefe, Chairman of the WRA Board of Directors. “By front-loading sales in 2010, the Federal Tax Rebate Program made sales in the first half of this year look weak,” said Keefe. “Conversely sales in the second half of this year look much stronger by comparison,” he added. Sales in the first half of 2011 were 17.6 percent below the 2010 levels, but in the last four months, the state is 24.5 percent ahead of last year’s pace, making the year-to-date figures just 2.8 percent lower. “The economic fundamentals really haven’t changed much over the past year so it’s not surprising our sales volume is about the same overall,” said Keefe.

All regions within the state saw their October sales volume increase, with all but the North region up by more than 10 percent over October 2010. On a year-to-date basis, all regions are in the vicinity of last year’s volume with the Southeast slightly above year-to-date sales up 0.6 percent, the North region slightly below year-to-date sales down 0.3 percent, and the Northeast region just 3.7 percent below sales levels through October of last year. The remaining regions are between 5.6 percent and 8.2 percent lower year-to-date.

Statewide, the median price of existing homes fell 7.8 percent in October 2011 relative to October 2010, and on a year-to-date basis, median prices were 5.7 percent lower than last year. “It’s clear that prices have moderated, and that’s not surprising given the high inventory levels in the state,” said WRA President and CEO Michael Theo. Currently there is 15.5 months of housing inventory, meaning that it would take 15.5 months to sell the existing inventory given the average monthly pace of sales over the last 12 months. “Homebuyers are waiting for good news on the economy before they jump back into this market, and so far the

economic news has been mixed,” said Theo.

The state unemployment rate is more than a

percent below the national rate, fluctuating

between 7.3 percent and 7.8 percent

throughout the year, and overall job growth

has been flat. “Although we’ve seen some

promising signs in the manufacturing sector,

which added 8,800 jobs this year alone, job

growth needs to be more widespread for

home buying to really pick up,” he said.

For 2011, private sector job growth has

essentially offset losses in government

employment. The WRA’s report also showed

that housing affordability is at a very high

level, with the median family income able

to buy 243 percent of the median priced

home in October. “The combination of low

mortgage rates, currently in the 4.7 percent

range for a 30-year fixed-rate conventional

mortgage, and low housing prices statewide

translates into some excellent deals for

buyers who are ready to buy,” said Theo.

For more information, contact David E.

Clark, Economist, C3 Statistical Solutions

Office phone: (414) 803-6537

hOME SAlES uP in OCtOBEr AS MEDiAn PriCES FAll

View all housing statistics at www.wra.org/housingstatistics


18.5%PercentofmembershipthathasnotloggedintotheWRAwebsite

log in to WrA.org Access Member-Only InformationByJoElEsChisin

While analyzing the WRA website, we found an alarming statistic: 18.5 percent of WRA members have never logged in. With the recent redesign and access to

endless information, we thought it would be a good time to explain why you should log in and how easy it is.

Why you should log in

As a part of your WRA membership, you have access to member-only information, such as Legal Services and myWRA. Within the myWRA section, members can view their purchase history, see what continuing education they have completed or need to complete, gain access to resources, and update their profile. With over 325,000 visits to the website and 17,000 searches on the Find-A-REALTOR® section last year, it is key for members to have updated information along with a professional picture. Your odds of being contacted are greatly increased.

Along with a number of online resources, being logged in to the website automatically gives you member pricing for education, products and events. Any online forms or purchases will automatically fill with your information, saving you time.

Online Member Benefits Include:

• Online Legal Search

• Legal Hottip Library

• Legal Update Library

• Broker Supervision News

• Education Discounts

• Sales and Marketing Tools

How to set up an account and log in

Go to the WRA website at www.wra.org and navigate to the top right corner of the page. Click “Create Account” and you will be asked a few simple questions. An e-mail will be sent to your inbox verifying your information. Once your information is verified, your account is set up - it’s that simple.

If you have any questions or comments, please don’t hesitate to contact the WRA at [email protected].

Joe Leschisin is the Senior Designer and Marketing Communications Manager for the WRA.

54% of members spend more than 20 hOursa week on the Internet.

50% of members indicate “Accessing Legal Services online” as thetOp reasOnfor visiting WRA.org.

Data collected from November 2009 WRA Member Survey of 1,200 members. Margin of error is plus or minus 2.8 percentage points.


DESignAtiOnS

“A lot of people wonder what a designation or certification is and why an agent would want to earn one. You hear a lot of letters thrown about, and sometimes they are referred to as ‘alphabet soup,’ but really a designation is an acknowledgement of professionalism. A designation shows that an agent has gone above and beyond and has taken additional coursework to better themselves and their clients.”

Beth Jaworski, REALTOR®, ABR, CMHS, CRS, GREEN, GRI, Milwaukee, Wis.

Succeeding in a real estate career goes beyond simply hosting open houses and completing forms; it involves becoming a true expert to better serve the client in a particular or specialized area of real estate. Acquiring new skills, learning new listing methods, or gaining expert knowledge about a client niche can keep REALTORS® on the cutting edge of new developments to succeed in real estate - to ultimately take a seat at the closing table. And holding a designation can get you there.

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6wisconsin real estate magazine | december 2011


WhY EArn A DESignAtiOn?The National Association of REALTORS® (NAR) offers a wide array of designations and certifications to benefit REALTORS® with increasing skills, proficiency and knowledge as well as boosting productivity and marketability. Upon meeting qualifications, such as completing certain courses, filling out an application or submitting a business plan, designations and/or certifications in a variety of real estate disciplines are awarded by each NAR-affiliated society, council or institute to REALTORS® across the country every year. A designation or certification is available for nearly every concentration in real estate, from real estate investing to managing industrial properties to selling vacant land.

Why earn one? While the reasons may vary from REALTOR® to REALTOR®, a few reasons are worth noting that most REALTORS® with designations will echo:

• Increasing income: According to NAR, holding a designation almost doubles the income of REALTORS®. Based on 2011 NAR survey data, the median income of REALTORS® without a designation in 2010 was $26,900, and the median income of those with at least one designation in 2010 was $49,300 – a difference of $22,400.

• networking: REALTORS® can easily meet others and make new contacts while attending designated course offerings and designation-specific events. Because designations are awarded by various societies, councils or institutes, REALTORS® have

exclusive networking access to like-minded and like-disciplined professionals,

giving them a distinct advantage in the networking and

referral world.

• enhancing professional image: Beyond building skills, knowledge and productivity to boost your sales, the extra letters after your name bring credibility and respectability to your business and to your brand.

• Increasing proficiency and productivity: The advanced education available for REALTORS® with designations keeps them up-to-date and on the cutting edge of new practices and new technologies in the ever-changing environment of real estate. They’re ready for anything because of their designation’s advanced education.

“I’ve had sellers that have contacted me and said that they had looked up my qualifications,” said REALTOR® Kathy Allison-Zimmermann, ABR, CHMS, CRB, CRS, of Lake Mills, Wis. “One thing that they were impressed with was all the letters behind my name – not necessarily that they knew what they all meant but they knew that you had to do something to achieve them.”

And a designation isn’t only to the REALTOR®’s advantage. Just as a patient may seek out a professional with “M.D.” following the name when finding a doctor, real estate clients are similar when finding a REALTOR®. Even if a client doesn’t know exactly what “ABR” means and how it impacts them, your “alphabet soup” can nevertheless be a great conversation starter with your ability to explain the worthiness of your designation or certification to clients.

Clients can quickly trust you as an expert with letters after your name that signal the additional coursework and experience you’ve taken to be ready to serve them. And with a concentration and specialized skills on a property type or a segmented demographic, clients appreciate that you understand their needs, whether it be their lifestyle, their age or the type of property they want to buy. Let’s take a closer look.

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DESignAtiOnS thAt SEt YOu APArt

Certified Residential Specialist (CRS): The CRS is the professional designation offered by the Council of Residential Specialists. Since the 1970s, the CRS Council has awarded this designation to agents in the residential sales field that demonstrated professional accomplishments in both experience and education. Only 4 percent of all REALTORS® nationwide hold the CRS designation.

Based on a 2011 Westat Research survey of CRS members, a CRS-designated agent earns an annual income of $79,000, three times the median income of the average REALTOR® selling real estate without this designation. CRS-designated agents complete an average of 16 transactions per year and have average gross sales of $2.44 million dollars annually.

“The first year I had my CRS was ’97,” said Jaworski. “And that was the first year that I really started making good money selling real estate.”

Graduate, REALTOR® Institute (GRI): The GRI designation is the most widely recognized of the national real estate designations. The GRI is earned only after a REALTOR® successfully completes a minimum of 90 hours of classroom instruction, covering subjects in contract law, professional standards, sales and marketing, finance and risk reduction. Because a REALTOR® with a GRI designation is considered to be at the highest level of real estate professionalism, this REALTOR® can navigate the current real estate market, no matter its condition. Furthermore, REALTORS® with the GRI are well-equipped at serving sophisticated clients because of their understanding of new technologies, laws and regulatory changes.

According to NAR, REALTORS® with the GRI designation reported an increase in referrals within the first year of earning the GRI.

“As an instructor, I’ve watched people in the designation class get to know each other so well that referrals are going back and forth as the course is going on,” said Barb McGill, ABR, ABRM, CRB, CRS, GRI, SRES, from Brookfield, Wis., echoing this referral trend.

Accredited Buyer Representative (ABR): The ABR designation is considered the standard of quality and excellence in buyer representation. This designation is awarded to REALTORS® by the Real Estate Buyer’s Agent Council (REBAC), which was founded in 1988 to promote exceptional buyer representation skills and services. Over 40,000 members are involved in REBAC, and it’s the world’s largest organization comprised of REALTORS® focused on buyer representation.

REALTORS® with the ABR designation not only gain valuable ABR-specific education, but also receive ongoing information and updates on marketplace trends relating to homebuyers as well as access to REBAC members-only marketing tools and resources.

Certified Real Estate Brokerage Manager (CRB): The CRB designation is one of the oldest and most respected professional designations in the industry. This designation is awarded to REALTORS® who have completed advanced requirements, both educational and professional. Through the CRB Council’s leading-edge education and resources, REALTORS® with this designation are among the most efficient, effective and profitable managers in the country, as they are able to integrate new technologies, apply new trends to business strategies, and streamline operations of their businesses.

REALTORS® with the CRB designation receive exclusive access to the CRB Knowledge Center as well as access to a network of CRB Chapters across the country; they also receive CRB-specific publications and an online membership and referral directory.

Broker’s Price Opinion Resource (BPOR): Established this year, NAR’s newest certification helps residential agents and brokers sharpen their skills with evaluating properties, applying alternative valuation techniques, and efficiently generating accurate and professional reports. According to industry estimates from NAR, 10 million Broker Price Opinions (BPOs) are performed every year across the country, and they are becoming widely adopted as a valuation tool in the mortgage industry.

Not only can a BPOR certification provide additional income with REALTORS® able to complete BPOs for lenders, but a BPOR-certified agent or broker is an expert on the local market in respect to short sale and REO inventory. A BPOR-certified REALTOR® also is able to price short sales and REO properties more effectively by understanding the BPO process and the lender’s perspective.

“Unlike facilitating traditional real estate transactions, with BPOs, the REALTOR®’s ‘client’ is the mortgage lender. It is important for REALTORS® to fully understand BPO guidelines and apply best practices as BPO price conclusions can significantly affect market values, short sales and REO properties,” said Debbie Buckrucker, BPOR, SFR, SRES, instructor of the BPOR certification course.

With the evolving housing, regulatory and financial markets, BPOs are in high demand – and now is a great time to earn the BPOR certification.

Short Sales and Foreclosure Resource (SFR):REBAC began offering its Short Sales and Foreclosures course in 2006 and developed a completely revised course along with the SFR certification in 2009, with over 51,000 REALTORS® earning the certification within its first year. This quick increase of SFR designees validates the new norm in the real estate industry of distressed sales. Knowing how to help clients deal with the complications of short sales and foreclosures isn’t just a good skill to have in your toolbox – it’s essential to success in this market.

“Just a few years ago, foreclosures and short sales were rare indeed, but today they are commonplace,” said Michael Theo, WRA President and CEO. “And to succeed in business, REALTORS® must understand the complexities associated with these types of transactions.”

REALTORS® with this designation are viewed as the trusted and expert resource to assist clients involved with these distressed sales. As the demand for professional expertise in this distressed sale market increases, this certification is necessary in your relationships with clients affected by these properties and problems.

Resort & Second-Home Properties Specialist (RSPS): Since being launched in 2006 to serve the growing second-home and resort real estate market, the RSPS program now has over 1,300 members. This certification allows buyers and sellers to have confidence in the abilities of a REALTOR® specializing in resort and second homes to assist them with their search.

Real estate practitioners involved in this market are those engaged in the buying, selling or management of properties for investment, retirement or second homes in both recreational or vacation destinations. A REALTOR® with the RSPS certification is dedicated to a “lifestyle niche” of real estate.

REALTORS® with this certification receive self-promotion materials, special national networking opportunities and access to customizable brochures for highlighting to potential clients the value of the RSPS certification. From vacation homes to investment properties, the resort and second-home market is filled with opportunities for REALTORS® to specialize and excel in this area of the industry.

Seniors Real Estate Specialist (SRES): The SRES® designation is the only designation that addresses the fastest growing market in real estate. As the largest and most comprehensive seniors program in the real estate industry, the SRES designation can assist in your practice working with clients aged 50-plus in the process of buying, selling or relocating due to retirement, health concerns or grandchildren, to name a few.

“I knew it would be hard for most folks to move out of their homes that they had for 20 to 30 years or longer to adjust into a retirement home or assisted living,” said REALTOR® Gary Lukens, ABR, CRS, GRI, SRES of Madison, Wis. “I also felt that I needed to be better informed as to their questions and concerns, and earning this designation did exactly that.”

According to the U.S. Census Bureau, the senior population grew at a faster rate than any other age range between 2000 and 2010. With the Baby Boomer generation aging and increasing in number, carrying the SRES designation is critical to your success in relationships with these clients that fall in this age demographic.

GREEN: Established by REBAC in 2008, this designation came about due to the increasing interest by real estate buyers, sellers and practitioners to “go green.” This is the only NAR-recognized designation for professionals willing to become experts about energy efficiency and sustainability in various areas of real estate.

GREEN-designated REALTORS® are equipped with an expert knowledge to participate in a green real estate market that differentiates their respective market focus in the eyes of clients and associates. And according to the U.S. Green Building Council, the construction of green homes and commercial properties is expected to grow with current market projections. Now is the time to earn the GREEN designation to be ready for market changes and green real estate trends.

And there you have it. NAR offers even more designations than mentioned above, and the WRA holds multiple designation courses at its Madison headquarters as well as throughout the state every year. No matter which you decide to pursue, whether a BPOR, CRS, or GREEN, designations and certifications indeed increase your success. And with increased success from a designation or certification with your sales, your office, your productivity and your clients, only one question is left to ask: why not earn one?

Lauren Bizorik is the Editorial Communications Specialist for the WRA.

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legal

Do You Know Where Your listings Are? A cautionary tale about entering into syndication agreements

W hile it seems to be called by a variety of names, for this article, we will refer to it as “syndication.” Most

traditionally, syndication is the automated process of pulling information from the Multiple Listing Service (MLS) data or from a broker and displaying it to the public on third party websites. Syndication is basically the sharing of the broker’s listing information beyond the MLS and the company or agent’s personal website.

Listing syndication provides companies the ability to advertise their listings to consumers well beyond the local MLS, which is a great marketing benefit. However over the course of the last year, a conversation about the quality of information being posted on sites has come into question.

Let’s begin with defining the players. The syndicator is the third party that is receiving the information from the MLS, broker or agent, such as ListHub or Point2. The information is the content that the MLS, broker or agent is providing to the syndicator. And a publisher is a third party that the syndicator has entered into an agreement with to resyndicate the information.

Essentially listing syndication is a data license. Simply stated, this data license is entered into by the MLS, broker or agent with the syndicator agreeing to allow the syndicator to display that listing information for consumers to see.

Traditionally the MLS provides the information to the syndicator through a data license agreement which commonly does not permit the syndicator to resyndicate. Often each MLS provides a list of syndicators that the broker may choose from to syndicate their information. The broker may choose all of the MLS provided syndicators, some or possibly none. Most commonly, when the

information is being provided by the MLS to these syndicators, the information is most accurate. Because the MLS is the provider of the information to the syndicator and the MLS is informed by the company if the listing is modified, terminated or expired, the MLS will be providing the most accurate information relating to that listing.

The goal of this article is to highlight some of the consequences of entering into syndication agreements beyond those of the MLS. Of course, this presumes that company policy permits agents to enter into separate syndication agreements.

Agents should first look to their company policy to see if syndication agreements are permissible. If the company policy does not specifically address syndication agreements, then the agent may wish to speak to their supervising broker as syndication agreements separate from MLS are a fairly recent phenomenon and the company policy may not yet have been modified. For brokers that have not updated their company policy to address syndication, now may be the time.

Another way to look at listing syndication is to treat it as a data license. Simply stated, this data license is entered into by the MLS, broker or agent, with the syndicator agreeing to display that listing information for consumers to see.

Firms may enter into their own separate data license agreements but cannot include the information of other companies as part of that agreement. The firm may choose to prohibit an agent of their company from entering into a syndication agreement. If the firm wishes to enter into its own syndication agreement or permits an agent to enter into a syndication agreement, there are a couple of items to keep in mind when reviewing and entering into the data license agreement. All data license agreements are not created equally and should be treated accordingly.

A data license agreement should provide the MLS, broker or agent the opportunity to set the parameters for the syndication. For example,

ByCorilamont


the syndication agreement would allow the broker to remain in custody of the listing content during the term of the listing, and when the agreement expires, the provider agrees to purge the data from its site.

Like any contract, the devil is in the details, and when in doubt ask for clarification before signing. Below are just 10 details to consider:

1. Read the fine print.

2. Determine what information to be provided.

3. Limitations, if any, with that information.

4. Permission to resyndicate the information.

5. Rights after the listing expires, terminates or sells.

6. Security of the information.

7. Content that is distributed for consumer viewing.

8. Frequency of picking up the information feed.

9. Term of the agreement, and if an automatic renewal included.

10. Termination rights.

There is one last item to mention: inaccurate information. Inaccurate information is being provided to consumers and has started to create a buzz in the real estate community. The common and frequent incidence most often occurs when sites pull information without permission from syndicators or MLS, and do not update the information regularly or at all. Aside from not having permission to publish this information, which means a cease and desist letter will be sent by your attorney, consumers are coming across this inaccurate information, which creates a great deal of confusion.

Another way this is occurring is through resyndication. Does the syndicator have the ability at their pleasure to resyndicate the information to a third party or publisher? If so, what consequence may that have for the firm? One of the biggest issues in this scenario is trying to figure out the terms of the agreement between the syndicator and the publisher as well as if the publisher can sell your information to another publisher. If so, how does the agent control the quality of the information, and if the agent discovers inaccurate information, how does the agent go about getting that information corrected? Lastly, does the broker have any rights relating to that publisher’s content?

Philosophically this issue of published inaccurate information does present a few questions, such as:

• If we know that the consumer is receiving inaccurate information that can easily be corrected by a conversation with the agent, what is the harm?

• Is all press good press?

• Are there legal consequences, if any?

Wisconsin has administrative rules and statutes relating to advertising, and the REALTOR® Code of Ethics Article 12 addresses presenting a true picture in advertisements and representations to the public. I leave you with one last question to consider.

Do you know where your listings are?

Cori Lamont is Director of Brokerage Regulation and Licensing for the WRA.

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Distress Sale DiSPutES

Working with distressed properties and at-risk sellers is, well … distressing. Short sales take forever and REO sellers and asset managers generally

believe that it is their way or the highway. Short sale sellers are in financial distress, and buyers are having the darnedest time finding a suitable loan. While these transactions are challenging, they can be successful for those who understand the process and persevere. Although diligence, patience and luck are important factors for those that make it to the finish line, those professionals achieving success also know how to avoid some of the potential pitfalls along the way.

Unfortunately there are plenty of liability traps for the unwary in this area of practice. Real estate professionals know that if the deal goes wrong, frequently the parties will be looking for someone to blame. Sometimes an agent has missed a deadline or made some other error. Or at the last minute, the buyers might discover a property condition they believe is a defect that should have been disclosed to them. Often the parties are simply frustrated, so they blame the agents when the deal did not come together despite the agents’ best efforts. While these situations sometimes cannot be avoided, REALTORS® should not provide ammunition to stressed-out parties looking for targets for their frustration and anger. Adherence to the rules, repeated discussions with the parties regarding the quirks of REOs and short sales, and resisting the urge to fall into the known practice traps go a long way toward avoiding unnecessary conflict and potential liability.

Typical areas of avoidable miscues in short sales and REO sales involve the absence of property condition disclosure and repairs, giving legal or tax advice, “as-is” misconceptions, and accidental property manager problems.

1. No disclosures, no repairs

Occasionally short sale sellers resist making any property condition

disclosures because they see no benefit or point in doing so. Even when they do, conditions may change since many short sales take such a long time that the disclosures may no longer be entirely accurate by the time the transaction closes. Seller’s lenders in short sales, as well as REO lenders and sellers, frequently insist on “as-is” sales, leading to the absence of meaningful property condition disclosures. Many sellers ignore the federal law mandate for lead-based paint (LBP) disclosures, even though there is no special exception carved out in the federal LBP law for these distressed transactions.

Not only do REO sellers fail to disclose property conditions, they often do nothing to prevent or repair serious damage or deterioration. Even though “as-is” clauses are typically used, buyers and agents may still expect them to cure major defects that are a threat to health and safety. The REO sellers refusing to repair serious defects and the buyer’s lenders refusing to allow the buyer to make repairs together put the buyer behind the eight ball because the buyer’s lender insists the problems be corrected before it can provide a mortgage loan to the buyer.

In these scenarios, the responsibility to make disclosures falls squarely on the listing and cooperating brokers. Many licensees and consumers apparently believe that an “as-is” clause in a contract absolves the brokers of any duty to disclose known material adverse facts, but that simply is not the case. REALTOR® disclosures are critical to the buyers in these transactions and are legally required.

+ reaLtOr® practice tip: Wis. Admin. Code § RL 24.07 requires listing brokers to inspect property prior to entering into a listing and cooperating brokers are to inspect during the showing. They are both then required to promptly disclose material adverse facts and conditions suggesting the possibility of material adverse facts to the parties in writing – no exceptions!

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+ reaLtOr® practice tip: There is no exemption from the Wis. Stat. Chapter 709 seller disclosure law for most short sale and REO sellers. The federal LBP law does not exempt short sales or REOs so the agent may have to act to ensure compliance. If the seller does not complete a Real Estate Condition Report (RECR), the listing and cooperating brokes are still required to make timely written disclosures of any material adverse facts.

+ reaLtOr® practice tip: One way to avoid some of these headaches is to follow the lead of one Massachusetts brokerage that now requires sellers to complete the RECR before the company will list a home on the market. The company acknowledges that listings are hard to come by but feels it is more important to avoid the red flags associated with a seller who won’t disclose.

2. Don’t give tax or legal advice

Short sale parties frequently have many questions, and REALTORS® must resist the urge to advise sellers on matters outside of their expertise. This means: do not provide tax or legal advice! For instance, short sale sellers want to know whether they will owe any deficiency and what the tax consequences will be. Will they be better off to let the bank foreclose or to just walk away? The REALTOR® undoubtly intends to be helpful, but if the REALTOR® answers, he or she will invariably be in violation of license law. If he or she gets it wrong, that REALTOR® will be the number one target in a costly lawsuit.

One tool used in many states to help avoid such potential legal trouble is the short sale advisory form. In Wisconsin, we have the WRA Addendum SSL to the Listing Contract – Short Sales. This addendum gives the broker an opportunity to obtain the sellers’ signatures on a document whereby the sellers acknowledge that they have been cautioned about the potential outcome and consequences of a short sale. Key points that should be covered in a short sale advisory form include all of the personal financial information and additional paperwork involved, the maddening delays, the seemingly discretionary and arbitrary control that the lenders have, and the last-minute obligations that lenders seem to cook up. The form also urges sellers to consult attorneys and tax professionals with their questions.

+ reaLtOr® practice tip: In addition to using the Addendum SSL for short sale sellers, parties should be encouraged at every juncture to consult with their attorneys and tax advisors if they have any legal or financial questions or concerns.

Note: The WRA-SSC Short Sale Checklist, WRA-SSL Addendum SSL to the Listing Contract – Short Sales, and WRA-SSO Addendum SSO to the Offer to Purchase – Short Sales are discussed in the March 2009 Legal Update, “Working with Distressed Sales,” at www.wra.org/

LU0903, and available from the WRA in hard copy as well as on ZipForm.

3. “As-is” misconceptions

“As-is” means that if the buyer closes and defects are later found, the buyer cannot go back to the seller for any compensation. Banks disclaim seller disclosure duties and require “as-is” deals. REO agents simply do not provide any information regarding the property condition, despite the fact that the broker will be blamed for undisclosed defects discovered after the transaction closes. Clearly many REALTORS® and consumers mistakingly believe that an “as-is” clause absolves them of any duty to disclose known material defects.

+ reaLtOr® practice tip: The fact that the seller will sell “as is” does not release REALTORS® from compliance with Wisconsin license law and the obligation to inspect and to disclose material adverse facts.

+ reaLtOr® practice tip: An “as-is” clause alerts the buyer that he or she is responsible for determining the condition of the property being purchased, that is, having the property thoroughly inspected and tested. The inspection contingency provides a way for the buyer to get out of the transaction if the condition is such that the buyer no longer wants the property.

See “Uncovering the Truth: As Is Transactions” in the June 2011 edition of Wisconsin Real Estate Magazine at www.wra.org/WREM/JUN11/AsIsTransactions for discussion of additional misconceptions.

4. Accidental property manager status

Often brokers and agents are not truly aware of the consequences of handling REO sales, for example, that in most cases they must assume the additional role of a property manager, and as a result, they may not be covered under their E&O insurance. Listing agents are asked, for example, to clean out personal property, arrange for weatherization, hire contractors to make repairs, change locks, frequently drive by the property to assure it remains vacant, turn off power and change utility bills into the agent’s name. Physical property management-type services, which do not require a real estate license, may be performed under the name of the brokerage as one of the company’s services, or this may be an activity performed by the agent as a business that is completely separate from the brokerage.

For additional information, see “Best of the Legal Hotline: The Accidental Property Manager, Take 2” in the January 2011 edition of Wisconsin Real Estate Magazine at www.wra.org/WREM/Jan11/AccidentialPropertyManagerTake2.

Debbi Conrad is Senior Attorney and Director of Legal Affairs for the WRA.

One tool used in many states to help avoid such potential legal trouble is the short sale advisory form. In Wisconsin we have the WRA Addendum SSL to

the Listing Contract – Short Sales.


best of the legal hotline with tracy rucka

Shift happens

As REALTORS® look back on the past year and plan for the next, the Hotline questions and answers this month focus on agents shifting to new companies, new roles in the company and new approaches to referrals.

Shifting to new CompaniesTermination of Employment

An agent is leaving another company and coming to work for the broker. The previous broker is saying she will not release the agent until next month.

An independent contractor’s relationship with a broker-employer effectively exists on two different levels: the regulatory level governed by the Department of Safety and Professional Services (DSPS) and on the contractual level.

With respect to the DSPS, Wis. Admin. Code § RL 17.06 indicates that an agent is required to file the Notice of Termination of Employment of Broker or Salesperson Form #766 within 10 days after leaving the previous company. No fee is required. A licensee’s transfer from one broker or employer to another is effective upon

the mailing of a completed Notice of Real Estate Employment Form #812 and a $10 fee payable to the DSPS. Forms are available from the DSPS at P.O. Box 8935, Madison, WI, 53708, (608) 266-5522, or online at drl.wi.gov/prof_docs_list.asp?profid=118&locid=0. A broker who has an agent leave is best served to also submit the Notice of Termination to assure the DSPS has notice of the termination.

On the contractual level, there may be other obligations associated with the process of ending the independent contractor relationship, for example giving advance notice of the termination date. Whether there are other contractual consequences resulting from the timing of the termination would have to be answered by the agent’s independent contractor agreement, office policy and any other applicable documents. The best practice for the agent is to read and review her documents before taking action.


See the March 2008 Legal Update, “Running a Real Estate Office, at www.wra.org/LU0803 and Legal Update 00.12, “Real Estate Office Management,” at www.wra.org/LU0012 for further information.

Commissions After Termination

The agent is moving on to a new broker and wants to know how commission for pending transactions will be paid?

The entitlement to a commission in this situation depends upon the contract between the broker and agent, which can be the independent contractor agreement or company policy and procedures manual, for example. If the contract does not cover the situation, prior actions of the broker in this regard and the prevailing practice in the industry would be factors that would be considered if the matter went to court.

Wisconsin real estate statutes and administrative rules do not address commission policies between an employee or broker and a salesperson. This is an issue of contract law. If the former broker does not pay commission according to the terms of the agreement, the salesperson can attempt to have the dispute arbitrated at the local REALTOR® association, provided the previous broker agrees to arbitrate. This would be considered a voluntary arbitration under Article 17 of the Code of Ethics. If the former broker refuses to arbitrate, the salesperson can bring separate actions in small claims court for each commission due.

For more information, see page 10 of the March 2008 Legal Update, “Running a Real Estate Office” at www.wra.org/LU0803.

new real Estate rolesWho Hires a Personal Assistant?

The licensee is a broker associate working for a licensed real estate business entity. The licensee wants to provide an opportunity for an agent who is shifting gears by hiring the person as a licensed assistant and hanging the assistant’s salesperson’s license under his individual broker’s license. What are the rules regarding hanging a salesperson’s license under a broker who is hanging his license under a licensed real estate broker or business entity?

The license of a licensed personal assistant must be held by the employing broker or firm; in this case, the business entity. A licensed personal assistant needs to be engaged by the broker, as required per Wis. Admin. Code § RL 17.03(2). That rule indicates that a licensee, with a salesperson’s or a broker’s license, employed by and licensed with a broker may not, in turn, employ another licensee such as a licensed personal assistant. The broker or entity must be the one to engage and hold the license of the licensed personal assistant.

More information about licensed and unlicensed personal assistants is available in the January 1998 Legal Update, “New Personal Assistant Rules & Forms” at www.wra.org/LU9801.

What Roles May a Personal Assistant Play?

Two licensees have been talking and one is thinking of not renewing her REALTOR® membership. Can she go to work for her friend as a personal assistant? What would the agent, who has a salesperson’s license, be allowed to do as a licensed personal assistant? They are thinking that the salesperson could be an assistant to help at open houses, do showings, draft offers and otherwise cover in the broker’s absence.

As a person with a salesperson’s license, the agent may not engage in real estate brokerage services per Wis. Stat. § 452.02 without an employing broker. If the salesperson has her license held with the friend’s employing broker, the licensee may act as a licensed assistant and provide brokerage services according to the independent contractor or licensed assistant agreement with the broker. If the services are merely administrative in nature and do not include brokerage tasks such as conducting showings, negotiations, and drafting contracts, then the licensee could provide such services without having her license held with the broker. In such a case, the licensee would be working as an unlicensed assistant despite the fact that she does have her sales license.


Does the salesperson in the previous situation need to be a REALTOR®?

The broker or owner who is a member of the REALTOR® association and is the designated REALTOR® determines whether REALTOR® membership is a condition of employment for a licensed assistant. The licensee and the broker owner may review the company’s agreements and office policy to see whether REALTOR® membership is an office requirement and to whom it applies. If not required, agents and licensed assistants may continue to work for the broker - not as REALTORS®, but as licensees working for a REALTOR® broker. These agents and licensed assistants may not hold themselves out as REALTORS®.

The term used for these licensees is “salesperson assessments.” According to the dues formula, it is the obligation of the designated REALTOR® to pay fair share dues for each agent who does not individually pay REALTOR® dues, either as a REALTOR® member or as a salesperson assessment.

The agent’s access to the MLS is based on the MLS participant’s membership. In this case, that MLS participant is the broker. MLS fees are based on the number of licenses held with the MLS participant. Whether the agents are REALTORS® or not, the fee structure and access to the MLS remains the same.

More information about dues is available on page 11 of the July 2005 Legal Update, “MLS and Professional Standards,” www.wra.org/LU0507, and “The REALTOR®’s Dues Formula - A Fair Share” at www.realtor.org/mempolweb.nsf/pages/duesformulaarticle?OpenDocument&Login.

new Approaches to referralsCan a broker pay a referral fee to a person with a sales license who does not have an employing broker?

Wis. Stat. § 452.19 limits the payment of referral fees, finders fees and commission splits to persons licensed or registered in Wisconsin to practice real estate, or persons regularly and lawfully engaged in real estate brokerage in another state.

Referrals may be made to persons with either a sales license or broker’s license. If the licensee has his or her license held with a broker, the payment must be made through the employing broker. If the licensee is not affiliated with a broker, the referral fee may be paid directly to the licensee.

It is important to have any referral agreement setting forth the details, in writing, to eliminate confusion and disputes later on. There is no state-approved form to document a referral agreement. Tips for creating referral agreements are available in the January 2002 Legal Update “Getting Paid Outside the MLS” at www.wra.org/

LU0201. Before entering into the referral agreement, it is prudent to confirm that the agent is active and eligible to practice on the DSPS Licensee Lookup at online.drl.wi.gov/LicenseLookup/LicenseLookup.aspx.

A broker is considering starting a separate “referral company” so licensed agents who are not currently practicing could give the broker referrals. What licensing and other issues must be addressed to make this happen?

The broker may consider creating a Limited Function Referral Office (LFRO). The REALTOR® dues formula provides that each designated REALTOR® is responsible for dues for each licensee affiliated with the broker. One exception to the dues formula is if the designated REALTOR® has an LFRO. An LFRO is a separate legal entity that the broker has to credential licensees who do referrals only. The entity is created and engaged exclusively to solicit and/or refer clients and customers, and the agents are not engaged in listing, selling, leasing, managing, counseling or appraising real property. See www.wra.org/lfroforbroker.

An LFRO is not required in Wisconsin for an agent to receive a referral fee. Wis. Stat. § 452.19 permits a broker to pay referral fees and finders fees to other Wisconsin licensees as long as that person’s license is active and regardless of the fact that the person holds a salesperson license rather than a broker license. The fact that the person is not currently employed by a broker is not relevant. Pursuant to Wis. Stat. § 452.14(3)(f), any referral fee received by an employed salesperson, whether licensed as a broker or a salesperson, in connection with a real estate transaction may be received by the salesperson only from the salesperson’s employing broker. A non-employed or inactive salesperson can however make a referral and receive a fee.

Tracy Rucka is Director of Professional Standards and Practices for the WRA.


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Spotifyallowsyoutoshareyourmusicandplaylistswithyourfriends.

ThankstoSpotifyandFacebook,youcanseeandhearwhatyourfriends

arelisteningtoatanytime.Youcanalsosharemusicwithaflickofthe

wrist.Sendasongtoyourfriendsorposttrackstosocialnetworks.

Spotifyishowmusicshouldbe.Visitwww.spotify.comtoday.

Ifyou’relookingtoadvertiseyourcommitmenttorealestate,

obtainingdesignationsandcertificationsisaperfectwaytodoso.

Carryingarealestatedesignationorcertificationinstantlyincreases

theperceptionofyourcredibilityandcommitmenttotherealestate

profession.Ifyou’retryingtofindthebestinformationonrealestate

designationsandcertifications,looknofurtherthantheWRA’s

DesignationGuide.

Updatedannually,theDesignationGuidecontainsinformationonall

theaccreditationsendorsedbytheNationalAssociationof

REALTORS®aswellasthoseofferedthroughfranchisegroupsand

proprietaryschools.Nearly30differentdesignationsand

certificationsarelisted.Foreachcredential,theDesignationGuide

providesanoverviewofthecredential,anoutlineforthe

requirementsforobtainingthecredentialaswellasavarietyofother

information,includinggoverningcouncilcontactinformation,

applicationfeesandannualdues.

REALTORS®holdingdesignationsandcertificationsseeincreased

profitabilityoverthosewithout.Obtainingtheseaccreditations

demonstratesacommitmenttotherealestateprofessionandto

upholdingtheindustry’sprofessionalstandards.

Whetheryou’reinterestedinspecializinginaspecificgenreofreal

estateorlookingtohoneyourskills,obtainingdesignationsand

certificationsisasurefirewaytoincreaseyourprestigetopotential

clients.MarketyourselfasaREALTOR®dedicatedtoyourprofession;

obtainarealestatedesignation.

MoreinformationontheDesignationGuidecanbefoundunderthe

myResourcessectionoftheWRA’swebsiteatwww.wra.org.

Lookforthereleaseofthe2012DesignationGuideinJanuary!


education

Resort and Second Home Markets (RSPS Certification)January 25, 2012Lake of the Torches | Lac du Flambeau

ABR Elective and Core Course for RSPS Certification

This one-day core course focuses on the knowledge and skill base that real estate professionals need in buying, selling or managing second homes in a resort, recreational and/or vacation destination as well as properties for investment or development. You’ll gain specialized skills and expertise to make informed decisions about buying and selling resort and second-home properties. This course is required to attain the Resort & Second-Home Property Specialist (RSPS) Certification and also meets the elective course requirement for the ABR Designation. Registration for this course also includes the registration for the Winter Convention.

www.wra.org/WinterConv

Broker Pre-license CourseJanuary 30 - February 2, 2012Greater Milwaukee Association of REALTORS®

Broker pre-license education will increase from 36 to 72 hours, effective July 1, 2012. Also on the horizon is a proposed change to job experience requirements to become a broker. Under the proposal, Wisconsin broker applicants would be required to show two years of documented experience as a real estate salesperson within the four years preceding application.

This course covers contracts, trust accounts, escrow and closing statements, personnel business ethics, fair housing, specialty areas and more. Completion of Sales Pre-license education and passing the real estate sales exam are prerequisites. Completion of the Broker Pre-license Course, passing the broker exam and receiving the broker’s license fulfills the 2011-2012 Continuing Education credits. Fore more, visit www.wra.org/Broker_career.

BPO (Broker Price Opinion)February 9, 2012WICPA | Brookfield

Earn the Broker Price Opinion Resource (BPOR) Certification!

Whether you are experienced at preparing broker price opinions (BPOs) or are new to the business, this new NAR certification course will provide you with the know-how to produce professional and accurate BPOs. With your BPOR certification, you’ll be able to prepare accurate BPOs, evaluate market tools for productive preparation of BPOs, and identify and weigh all factors influencing the creation of a useful valuation.

Upon completing this one-day course, you’ll be required to view a free webinar, submit the BPOR application and pay a one-time fee to earn the BPOR certification. The course also meets the elective course requirement for the ABR designation.

www.wra.org/BPOR_overview

CRS 202: Sales StrategiesFebruary 6-7, 2012Plaza Hotel and Suites | Eau Claire Co-Sponsored by the Wisconsin CRS Chapter

Learn how to tap into the motivations of today’s qualified homebuyers and help them achieve homeownership! You’ll learn about identifying buyers and gaining their trust and loyalty. Earn 16 credits toward your CRS designation with CRS 202. Don’t miss this course - and don’t miss prime networking opportunties with other REALTORS®! Visit www.wra.org/CRSCourses for more information. Instructor: Jackie Leavenworth, CRS

Out-of-State Continuing EducationMarch 5-7, 2012Tuscany Suites and Casino | Las Vegas, NV

Grab your suitcase ... this isn’t your typical Continuing Education (CE) program! Break away from the winter blues, and join us for CE in sunny Las Vegas in March 2012! With many CE courses to choose from, the Las Vegas Strip and sunshine, this is an educational opportunity you won’t want to miss! Make plans now to join us in Viva Las Vegas. Visit www.wra.org/CEOut-of-State for more information.

Appraisal Conference 2012March 13-14, 2012Kalahari® Resort & Convention Center - Wisconsin Dells

Join the WRA for the annual Appraisal Conference to complete your continuing education and pick up new skills for the industry. Whether you’re interested in the current 7-Hour USPAP Update Course or attending various workshops to improve your appraisal success, you’ll get it all here!

Visit www.wra.org/AppraisalConference for more information.


Course Schedule

Visit www.wra.org/CourseSchedule for full schedule.

Sales & Marketing Management date course location thru 1/10 after 1/10 a.t.d.

January 25, 2012 Resort & Second Home Markets Lac du Flambeau $195 $205 $225 (Includes convention) thru 1/23 after 1/23 a.t.d. February 6-7, 2012 CRS 202: Sales Strategies Eau Claire $199 $210 $230 Febrary 9, 2012 BPO Broker Price Opinions Brookfield $110 $120 $140 conference and conventions date event/course location

January 25-27, 2012 Winter Convention Lake of the Torches, Lac du Flambeau March 5-7, 2012 Out-of-State Continuing Education Tuscany Suites and Casino, Las Vegas, NV March 13-14, 2012 Appraisal Conference Kalahari Resort, Wisconsin Dells

Real Estate Continuing Education Date course location Price

January 25, 2012 2011-12 Electives A & C Lac du Flambeau (800) 279-1972 January 26, 2012 2011-12 Courses 1 & 2 Lac du Flambeau Register for Winter Convention (included in registration fee) January 27, 2012 2011-12 Courses 3 & 4 Lac du Flambeau Register for Winter Convention (included in registration fee) February 2, 2012 2011-12 Courses 1 & 2 (Commercial) Milwaukee Call 800-279-1972 $27/m; $40 nm February 8, 2012 2011-12 Electives A & C Maintinowoc (920) 553-6227 February 9, 2012 2011-12 Courses 3 & 4 (Commercial) Milwaukee Call 800-279-1972 $27/m; $40 nm February 14, 2012 2011-12 Courses 3 & 4 Marinette (715) 735-0547 February 16, 2012 2011-12 Elective A & D (Commercial) Milwaukee Call 800-279-1972 $27/m; $40 nm March 1, 2012 2011-12 Courses 1 & 2 Woodruff Call 800-279-1972 $27/m; $35 nm March 2, 2012 2011-12 Courses 3 & 4 Woodruff Call 800-279-1972 $27/m; $35 nm March 5, 2012 2011-12 Elective A & C Woodruff Call 800-279-1972 $27/m; $35 nm March 5, 2012 2011-12 Courses 1 & 2 Las Vegas March 6, 2012 2011-12 Courses 3 & 4 Las Vegas March 7, 2012 2011-12 Electives A & C Las Vegas

2011-12 Electives: Elective A – Short Sales & Foreclosures Elective B – Environmental Matters Elective C – Other Approved Forms Elective D – Financing

Appraisal Continuing Education Date course location

March 13-14, 2012 Appraisal Conference Kalahari Resort, Wisconsin Dells

Pre-License date course location member price non-member price January 30 - February 2, 2012 Broker Pre-License Course Milwaukee $260* $280* *PlusbooksAvailable online!

StartQuicksales training program

www.wra.org/QuickStartOnDemand

*Plus books** early registration applies two weeks prior to the start of the course.***Wisconsin CRS Members receive a $20 discount# Appraiser section members receive a discount

The 2009-2010 real estate continuing education is still available through On Demand, DVD and Self-Study Booklets:Course 1 – Listing ContractsCourse 2 – Offer to PurchaseCourse 3 – New DevelopmentsCourse 4 – Buyer Agency AgreementsElective A – Risk ReductionElective B – 1031 Exchanges and Exchange OpportunitiesElective C – CondominiumsElective D – Landlord/Tenant and Property ManagementElective E – FinancingElective F – Broker Supervision

Lake of the Torches Resort Casino & Convention Center

2012 Winter ConventionJanuary 25-27, 2012

Wednesday, January 25

8:30 a.m.-4:30 p.m. Resort and Second Home Markets - ABR Elective and Core Course for the RSPS Certification

8:30 a.m.-12:00 p.m. CE Elective A Short Sales and Foreclosures

1:00 p.m.-4:30 p.m. CE Elective C Other Approved Forms

2:00 p.m.-5:00 p.m. Snowmobile outing, snowshoeing, cross country skiing, ice fishing (make your own reservations)

4:30 p.m.-6:00 p.m. Exhibits Open

4:30 p.m.-6:30 p.m. Welcome Party, DJ + Karaoke 4:15 p.m.-6:30 p.m. Chili Cook-Off: Enter your favorite recipe and you may win a prize! Sponsored by Northwoods Association of REALTORS®

Thursday, January 26

8:00 a.m.-5:00 p.m. Exhibits Open

8:30 a.m.-12:00 p.m. CE Course 1 - Listing Contracts

10:00 a.m.-11:45 a.m. Opening Session “New Year, New You” presented by Terry Watson Two lucky winners will receive a $150 WRA credit. Must be present to win.

11:45 a.m.-1:00 p.m. Broker Lunch (ticketed event)

1:00 p.m.-4:30 p.m. Course 2 - Offer to Purchase

1:15 p.m.-2:45 p.m. Workshops

• Killer Apps - Free or Darn Near Free• Grow Your Business on a Shoestring Budget• Paperless Transaction• Psychology of Prospecting – How to Make it

Virtually Impossible for a Prospect to Tell You No


• Still Standing – Life Support for REALTORS® in Changing Markets• Expired Mastery – 3 “Outside the Box” Marketing Strategies That

Will Have Sellers Begging You to Take Their Listing• Surf and Turf• Create Your Own Listing Videos Using SONY Vegas

4:15 p.m.-7:00 p.m. Reception and DJ

Register by Mail: WISCONSIN REALTORS® ASSOCIATION4801 Forest Run Road, Suite 201 Madison, WI 53704-7337

Register by Phone: (800) 279-1972 Local: (608) 241-2047Fax: (608) 241-5168


Friday, January 27

7:30 a.m.-8:30 a.m. Rotary Club Meeting Rotarians Meet and Greet

8:00 a.m.-1:15 p.m. Exhibits

8:30 a.m.-11:30 a.m. CE Course 3 New Developments

9:00 a.m.-10:15 a.m. Workshops

• What You Don’t Know Can Hurt You• Real Estate Warrior• Delivering “Knock Your Socks Off” Web Content Using

Google Analytics

10:30 a.m.-11:45 a.m. Workshops

• Change, Change & More Change• Home Inspection: Defect or No Defect?• Making Social Media Work For the Busy Agent

11:45 a.m.-1:00 p.m. CRS Lunch (Ticketed Event)

1:00 p.m.-4:30 p.m. CE Course 4 - Business Ethics


• Roadside Video• Safety & Self-Defense for Real Estate Professionals• REO Buying - Diamond in the Rough or Just Rough?

WWW.WRA.ORG/WINTERCONVENTIONwisconsin real estate magazine | december 2011 21


realtor® sales tip

Education is defined as acquiring skills. There are many different ways to receive education and many

different subjects to study. School is not the only place where we study or get an education. Sometimes the best knowledge is gained by continuing education and especially if we find something that we are passionate about. That excitement and willingness to become better can take us far in life.

Just like in any other career path you’ve chosen, education is an important factor in your success. Taking additional coursework to earn recognized designations is no different from going to law school or medical school, except that real estate is less complicated and easier to apply! I have always been an advocate for becoming the best at what I am doing at the moment. And learning is my driving force to succeed.

The problem with most beginners is that they are afraid to take action. A lot of people invest thousands of dollars on real estate education

only to watch their books gather dust on the shelves. All of us have good intentions, but it is action that I am most interested in. The most critical element is the act of doing - not saying.

In order to protect the public, most states require salespeople and brokers to meet specific licensing requirements, typically in the form of classroom instruction and/or successful completion of an examination at the local and state level. However many real estate brokers frequently require their sales staff to undertake education that exceeds these minimum requirements. Bringing in outside experts to increase the team’s knowledge base is one of my top priorities.

My successful brokerage firm is the product of continuous education that exceeds legal minimums. This additional knowledge combined with increased experience increases staff productivity, reduces litigation risks and perhaps raises and/or maximizes the expected value of our company. I calendar my guest speakers almost a year in advance

“Those with at least one

designation had a median gross

annual income in 2010 of $49,300. Those who did not

have a designation had a median gross

annual income in 2010 of $26,900.”

Stop learning and You’ll Stop Earning!


BymarCuswally

to make sure I have a cross section of experts coming to share their knowledge and talents.

According to the National Association of REALTORS® (NAR), many REALTORS® have designations in the field to help them stand apart from their colleagues. If you think about it, there are still over a million members out there vying for a piece of pie. What are you doing to make sure you get the business that is available in your market?

Currently, there are 17 designations in the field of real estate, and 36 percent of members hold at least one designation.

The most common designation is the Graduate, REALTOR® Institute (GRI); 21 percent of members hold this designation. The Accredited Buyer Representative (ABR) and Certified Residential Specialist (CRS) are also common designations. I am most proud of the designations that I have earned over the years. I wear my pins proudly.

But increasing my knowledge base is only part of my desire to learn. Income also differs among those who have a designation and those who do not. Those with at least one designation had a median gross annual income in 2010 of $49,300. Those who did not have a designation had a median gross annual income in 2010 of $26,900. This income trend is not new. This is a historical fact.

If you want to raise the bar of professionalism and make a difference, choose to learn more about your industry and hone your skills in a certain market segment. Become a specialist and starting marketing yourself to earn that edge.

NAR and its affiliated institutes, societies, and councils provide a wide range of programs and services that assist members in increasing skills, proficiency, and knowledge. Designations and certifications acknowledging experience and expertise in various real estate sectors are awarded by NAR and each affiliated group upon completion of required courses.

Visit www.realtor.org/education/realtor_university/designation to view all of the recognized designations.

One of the fun aspects of learning is traveling to take the courses. And my secret here is that I try to avoid taking the courses locally. A huge part of singing up for a course is my ability to increase my sphere …my network in which I generate referrals. I tell my team that no one sitting next to you in a local classroom is going to refer you business. But traveling to another city outside your market area gives you the opportunity to meet new folks and develop new friendships. Take lots of business cards with you and create new business partnerships. Eat lunch each day with a new set of fellow students. Invite classmates to dinner and to study with you. And before you know it, you have returned home and your referral network has increased. The amount of referrals I generate each year is in large part due to the relationships

that I have cultivated over the years. And the largest source comes from fellow students I sat next to while earning a new designation.

Knowledge and skill are key ingredients in real estate investing success. In order to acquire knowledge, you need education. And to develop skill, you need experience.

The more you learn, the more you earn! Aim for a higher degree of excellence today!

Marcus A. Wally, MBA, is an active Florida REALTOR® in St. Augustine, Florida. Marcus is the founder and broker of New World Realty, which also manages coaching and facilitation of education classes around the world. Marcus earned his MBA from the University of North Florida in Jacksonville. He can be reached at (904) 669-1081 or by e-mail at [email protected].

$68 per month plus a small closing fee

Join us anywhere in Wisconsin,

or create your own independent officeLow Cost • High Earnings

Call Bill at Homestead Realty, Inc. 1-800-339-4444 • [email protected]


legislative

Proposed legislation Seeks to Modify Pier regulations . . . Again

Bytomlarson

As part of Gov. Walker’s special session on jobs, legislation was introduced that seeks to streamline the permitting process and simplify regulations related to activities near navigable waterways. This legislation, SS AB 24/SS SB 24, makes a number of modifications important to waterfront property owners, including simplifying the pier grandfathering standards, protecting the ability of waterfront property owners to place a pier, and allowing unlimited maintenance and repair to wet boathouses.


Simplifying Pier Grandfathering Standards

Since the Pier Protection Act (2007 Wisconsin Act 204) was enacted into law in 2008, waterfront property owners have been confused about the pier grandfathering standards. The following is a list of pier regulations that have caused the most confusion:

• Location of platforms: If the platform is located near the shore, in the middle of the pier, five feet from the end of pier or anywhere else except at the very end of the pier, the platform is illegal and the pier cannot be grandfathered.

• size of platforms (existing piers): If the platform is 12-by-20 feet or 240 square feet, the pier cannot be grandfathered. However, if the platform is 10-by-30 feet or 300 square feet, the pier can be grandfathered.

• size of platforms (new piers): To add even more confusion, platforms on new piers have no overall square foot limitations. The only limitation is that they can be no wider than eight feet and cannot interfere with your neighbor’s riparian rights. As a result, a new pier can have a platform that is larger with more square footage than an existing grandfathered pier.

• registration requirement: Requiring property owners to register their piers with the DNR to be grandfathered has been unsuccessful. During the last three years, less than half of the estimated 8 to 10,000 piers required to register with the DNR actually did. Those owners that did register often experienced significant processing delays, up to nine months, and experienced confusion regarding where the form can be filed. The law allows the form to be filed with the DNR or local registers of deeds.

SS AB 24/SS SB 24 clarifies the law by:

1. Grandfathering all piers placed before the effective date of the bill.

2. Allowing new piers to be placed without a permit if the surface area of the platform does not exceed 200 square feet, with no dimensional requirements or limits as to where the platform may be located on the pier.

3. Eliminating the registration requirement.

Right to Place a Pier

For over 140 years, Wisconsin courts have recognized that waterfront property owners have a right to place a pier. This right to place a reasonably sized pier without a permit has been codified in the Wisconsin Statutes. However under current pier regulations, this right does not apply if the pier is located in an area of special natural resource interest (ASNRI). If a property is located in an ANSRI, the owner must obtain a general permit in order to place a pier, which means that the property owner is not guaranteed the right to place a pier.

• The definition of asnrI is overly broad. The definition of ASNRI includes any “area that possesses significant scientific value, as identified by the DNR.” This definition is vague and gives the DNR the discretion to designate any area to be an ASNRI. In fact, the term has been interpreted to mean not just a specific area in a lake, but the entire lake in some cases. As a result, property owners are being forced to go through a general permit process and are uncertain as to whether they can place a pier.

SS AB 24/SS SB 24 clarifies that the DNR may impose conditions on the location, design, construction and installation of a pier located in ASNRI waters, but the DNR may not prohibit the owner from placing a pier. This provision is intended to allow the DNR to determine the size, location and design of a pier to avoid any adverse impacts to sensitive areas like fish spawning areas and other sensitive habitats, but also protects the right of waterfront property owners to place a pier to access the waterway.

Unlimited Maintenance and Repair of Boathouses

Under current law, a limit is placed on the ability of property owners to maintain and repair boathouses located below the OHWM. The limit is equal to 50 percent of the assessed value of the boathouse, which is intended to eventually eliminate these boathouses by forcing them to fall into disrepair.

The “50 percent rule” has been unfair to property owners because it applies retroactively to existing boathouses that were legal when originally constructed. Moreover, the rule has proven difficult to enforce because it is almost impossible for county zoning administrators to keep track of each dollar spent on necessary paint, boards and roofing shingles. As a result, it encourages property owners to be dishonest about what they have spent on repairs and maintenance.

SS AB 24/SS SB 24 eliminates the 50 percent rule and allows unlimited maintenance and repair to these existing boathouses that were constructed before 1979. This would allow property owners to “keep what they have” but does not allow the boathouses to be expanded. Moreover, allowing unlimited maintenance and repairs to existing, nonconforming boathouses would make these regulations consistent with recent changes to Wisconsin’s Shoreland Zoning Regulations (Wis. Admin. Code Ch. NR 115) which eliminated application of the 50 percent rule to nonconforming structures and now allows unlimited maintenance and repairs to these structures.

The WRA supports this legislation and will be working with members of both houses in the legislature, as well as the Governor’s administration, to enact it into law. If you have questions, please contact Tom Larson ([email protected]) at (608) 240-8254.

Tom Larson is Vice President of Legal and Public Affairs for the WRA


Wisconsin is Presidential Battleground State

According to a Smart Politics analysis of all 50 states, Wisconsin ranks as the number

one “quintessential battleground state” in presidential elections since 1968. The Smart Politics comparison found that Wisconsin and Pennsylvania lead the country with the largest number of presidential contests decided by single-digits over the last 11 election cycles dating back to 1968, with nine each.

What separates Wisconsin from Pennsylvania is that seven of the nine races in the Badger State were decided by less than five points: Nixon in 1968: 3.6 points; Carter in 1976: 1.7 points; Reagan in 1980: 4.7 points; Dukakis in 1988: 3.6 points; Clinton in 1992: 4.4 points; Gore in 2000: 0.2 points; and Kerry in 2004: 0.4 points. In Pennsylvania, only five of nine races were decided by less than five points.

Because 2012 is a presidential election cycle, a look at recent polling in Wisconsin and election results from 2011 can provide hints as to what we might expect from swing state voters in Wisconsin with the presidential race that is now less than one year away.

Polling

For comparison purposes, we will use three different polling firms to get a sense of where Wisconsin voters are 11 months out from the November 2012 election.

rasmussen reports 500 Likely Voters October 26, 2011

Rick Perry (R) 46% Barack Obama (D) 42% Other 6% Not Sure 6%

Barack Obama (D) 45% Mitt Romney (R) 41% Other 7% Not Sure 7%

Barack Obama (D) 47% Herman Cain (R) 42% Other 5% Not Sure 7%

Public Policy Polling1,170 Wisconsin Voters October 20-23, 2011

Barack Obama (D) 50% Rick Perry (R) 39% Undecided 11%

Barack Obama (D) 46% Mitt Romney (R) 42% Undecided 11%

Barack Obama (D) 49% Herman Cain (R) 42% Undecided 0%

ByJoEmurray


Wisconsin Policy research institute605 Wisconsin Adults October 2011

Barack Obama (D) 48% Rick Perry (R) 30% Don’t Know 22%

Barack Obama (D) 46% Mitt Romney (R) 35% Don’t Know 20%

Barack Obama (D) 50% Herman Cain (R) 31% Don’t Know 19%

These three survey firms indicate that the presidential race in Wisconsin is likely to be another close one, at this point. For the most part, President Obama is under 50 percent, a key metric for any incumbent running for re-election, and all three major GOP challengers remain within striking distance. With 11 months to go - a lifetime in political terms - before the November general election, the political dynamic could easily change to favor one side or the other. But as a general rule, pollsters tend to agree that political trends one year out from the election are often fairly reliable indicators where voters are heading. These numbers suggest a difficult and close election for Obama in Wisconsin.

Rasmussen Reports is viewed as a conservative pollster, Public Policy Polling

is a Democratic firm, and the Wisconsin Policy Research Institute polling is non-partisan, conducted by University of Chicago Professor Will Howell. The margin of error ranges from plus or minus 2.9 to 5.2 percentage points.

Elections

In addition to the polling that suggests a close presidential contest in 2012, the April 2011 statewide race for Supreme Court between JoAnn Kloppenburg and David Prosser was extremely tight. Prosser won but not by much. Prosser’s 7,004 vote margin of victory out of 1.5 million votes was the narrowest margin of victory in any Supreme Court race in Wisconsin’s history. He won by less than half a percentage point. The closeness of the 2011 Supreme Court race, coming on the heels of the 2010 GOP blowout across Wisconsin, illustrates how quickly the statewide political dynamic can change.

If the 2012 election evolves into the forth consecutive “wave” election, favoring one side or the other dramatically, than all predictions for a close race in Wisconsin will vanish. If the election is more competitive, the Kloppenburg-Prosser outcome may very well signal that Wisconsin is returning to its status as the number one “quintessential battleground state” it’s been since 1968.

Professor John Coleman of the University of Wisconsin-Madison made this point after the April Supreme Court race between Kloppenburg and Prosser: “Wisconsin is a 50/50 state and has been for a while. People lost sight of that with Obama’s big win in 2008 and the Republicans’ sweeping in 2010. But overall, this is a state on a partisan knife-edge that can be mobilized to produce victories for conservatives and victories for liberals.”

Looks like we’re in for another nail-biter election in 2012!

Joe Murray is Director of Political and Governmental Affairs for the WRA.


techhottipsTechnology Tips & Tools for the Real Estate Professional

View more posts at www.techhottips.com

Sometimes certain websites pop up and I immediately dismiss them as “time suck,” but I’m totally wrong this time! Pinterest is one of them for me. When I first signed up a number of months ago, I loved the idea although I thought it was just a place for fun sharing and I wasn’t sure how I could use it for business.

Don’t get me wrong – Pinterest is still a great place to share recipes, DIY projects, crafts, homeschooling ideas and more … but I ask the question again: “Are your clients, locals, and potential clients hanging out on Pinterest?” The answer is most likely “yes,” or it will be when they find it. So you need to think about having a presence there as well.

Pinterest allows you to create “Boards,” or a topic of interest to you, then add links to your board for easy

access of people who follow you or your board. How can we use this for real estate? First don’t forget that it’s okay to have personal interests there as some of these ideas. People want to know a little bit about you and your interests. How about some additional boards that focus on housing and real estate ? Please don’t only focus on business boards since you won’t gain as many people following you as you will if you focus on personal interest as well as business focused.

• Your listing links

• Do-it -ourself home projects

• Home maintenance tips

• Local places of interest

• Affliliates’ blogs/sites/articles

• Real Estate News Sources

The options are endless! Go be creative and get started with your Pintrest account at www.Pinterest.com.

neW remote access to Files on yoUr androidIf you want secure, remote access to your personal files through your Android phone, download Wuala for Android at www.wuala.com. For security, the application encrypts files directly on your phone to ensure the data is safe before it leaves the phone. The app also includes automatic backup, syncing and sharing features.

Back in February, I wrote about How to Get a Like Box for Your Website. I’m sure you know that Facebook likes to change things, so with Facebook’s recent changes, I’ll update you on how to now put the “Like” box on your website.

There are several buttons you can put on your website or blog with some code that Facebook gives you. This way, when readers are on your page, they can quick -click to Facebook “Like,” it and it will link to their Facebook Wall. Psst … people like this, too!

Visit the “Facebook Social Plugins” page in the “Help” section to get your Plugin for your site. They have many available to use:

• Like Button

• Send Button

• Comments

• Activity Feed

• Recommendations

• Like Box

• Log in Button

• Registration

• Facepile

• Live Stream

And you know as well as I do – they’ll be sure to add more!

Tech Hottips writers are Amy Chorew, a nationally acclaimed real estate technology trainer and Kim Wood, a Philadelphia-area REALTOR® involved in both real estate and technology coaching.

Have an interest? try Pinterest.

Understanding WidgetsWhat’s a widget? It is a small program that you can easily put on your website or blog. Widgets add functionality, aggregate your content and enhance your customer experience. Many sites offer widgets; you simply choose the widget you want to install and the site provides the code. Simply copy and paste the code into your blog or website. You must have administrative access to do this.

The most common widgets are for social media, RSS feeds, bookmarks and advertisements, but you can add real estate-specific widgets to your site. Many companies, like YouTube, have their own widgets.

Facebook bUttons and boxes For yoUr Website.

© 2011 CENTURY 21 REAL ESTATE LLC. ALL RIGHTS RESERVED. CENTURY 21® IS A REGISTERED TRADEMARK OWNED BY CENTURY 21 REAL ESTATE LLC. AN EQUAL OPPORTUNITY COMPANY. EQUAL HOUSING OPPORTUNITY. EACH OFFICE IS INDEPENDENTLY OWNED AND OPERATED.

WHAT MAKES A CENTURY 21 AGENT? IT’S lIKE THAT SToRY AboUT THE ENGINE THAT CoUld. ExCEpT THESE ENGINES CAN. ANd THEY do. WHICH IS ExACTlY THE ATTITUdE IT TAKES To MAKE THINGS HAppEN. THEY KNoW THEY CAN. CENTURY 21® AGENTS.SMARTER. boldER. FASTER.

LEARN ABOUT FRANCHISING OPPORTUNITIES AT C21.COM

Thank you for your commitment to home ownership in Wisconsin. There is much more

to be done in the coming year and together we can strengthen Wisconsin’s housing

market, build strong communities and create new economic opportunities for

people across the state. To learn more, go to www.wheda.com/Realtors.

Wisconsin Housing and Economic dEvElopmEnt autHority201 West Washington Ave n Madison, WI 53703 800.334.6873 n www.wheda.com

How did they become successful homeowners?

Thanks to Realtors® like you.

Documents

December 2011 - Wisconsin Real Estate Magazine