OCTOBER 2017

A MONTHLY NEWSLETTER FOR THE SAN ANTONIO AREA REALTORS®

KEEPING POSTEDUpgrade to the Supra iBox BT LE on November 8 & 9

Extending Option PeriodsWhen you consider the scope of how to assist clients in completing contracts, there is a TREC rule that you should consider as a guide. TREC Rule 537.11 is a larger rule that encompasses various aspects of the use of Standard Contract Forms. However, section “f” speaks specifically to striking and adding words to contracts.

The rule provides that agents should only fill in blanks on contracts and not strike words from the forms nor add additional text. The only exception to this rule is where the client has directed an agent to strike or add text. Therefore, it would be advisable to have some form of documentation that a client has made a request to have these types of actions taken on the contract.

It should also be noted that this is the section of the rules that dictates those changes made to the contract or additions should only encompass “Factual statements and business details.” This phrase is generally used to define what may be included into the special provisions paragraph but it is intended to guide agents as they complete every portion of the contract. Following this rule will keep you in compliance with TREC Rules but it will also reduce your chances of legal liability.

Legal & Ethics

SABOR and Supra are having a Keybox Exchange Event on November 8 & 9 at the Marriott Northwest. This is a one-for-one iBox exchange. Here is what you need to know:

Why exchange for the iBox BT LE?

The iBox BT LE communicates directly with smartphones and tablets. No additional hardware or key fob is needed for Android (OS2.1 and newer), iPhone® and iPad® products (iOS 4.3 and newer), and BlackBerry (OS 5 and newer, except BlackBerry 10). Older iPhone and iPad products (iPhone 4, 3GS, and 3 and iPad 2) require a small adapter to meet Apple requirements. Note: You may need additional hardware if you are showing in a neighboring association with older iBox devices.

You also have your choice of keys. The eKEY® app and ActiveKEY® work seamlessly with the iBox BT LE. In addition, gate cards or large keys easily fit inside the iBox BT LE and the shackle releases entirely for easier placement on properties.

eKEY Basic

With eKEY Basic, you can customize iBox access hours and listing-specific information, track iBox inventory, view iBox settings and send showing feedback to listing agents from within the eKEY app.

eKEY Professional

With eKEY Professional, get everything that comes with eKEY Basic plus view showing details and feedback, view MLS info and search listings, view agent rosters, create and save buyer profiles and view matching listings, view Hotsheet listings, and view a map to the listing in Google Maps™.

Exchange Event Details

An appointment schedule will be distributed so you will have your assigned time to attend the event and make the exchange. At the event, bring in your iBox and exchange it for a new low energy Bluetooth iBox BT LE. You must be an active agent in order to participate.

Please make sure that your old keybox inventory is accurate prior to coming to the event. Only boxes that are assigned to you will be exchanged. During the swap of keyboxes there may be listings that do not have a keybox on them. Please call before showing to ensure you have access.

Please bring with you to the exchange event a government issued photo ID and your assigned blue keyboxes, exchanged one for one.

To Learn More

More information is available on the Supra website at www.supraekey.com or you may contact SABOR’s Member Care department at support@sabor.com.

San Antonio – Though the weather is cooling, the local housing market continues to sizzle with total homes sold in August rising two percent from last year for a total of 2,984, according to the Multiple Listing Service Report from the San Antonio Board of REALTORS® (SABOR) which reports on all areas contained within the MLS. The average price of a home sold in the area was $252,613 while the median was $218,400, both three percent year-over-year increases.

“Not only did the total number of sales continue to rise compared to 2016, but August also had the lowest days on market than any other month this year with just 48 days,” said Yvette Allen, SABOR’s 2017 Chairman of the Board. “This is six days less than August of last year and three days fewer than the state’s 51 days on market. Homes can sell fast depending on price and location, so those interested in buying need to be prepared to make a decision quickly.”

Days on market was not the only indicator of a continuously tight market. Months of inventory has remained below four months, at 3.6 in August, for nearly two years. However, despite record sales homes continue to come on the market with 3,768 new listings available in August and 9,780 properties active. The month ended with 2,260 sales still pending.

Meanwhile, homes priced between $200,000 and $500,000 remained the dominant price range for buyers in August with this segment accounting for 52 percent of the month’s transactions. Homes priced under $200,000 made up 42.6 percent of the sales in August and 5.3 percent of the homes sold last month were priced over $500,000.

“Interest rates continue to remain low compared to previous years which allows buyers to make their money go further and

get more house for their dollars,” said Angela Shields, SABOR’s President and CEO. “The best course of action when you are weighing your options to find the right house and price point for you is to work with a local REALTOR® who can guide you through the process.”

Total Home Sales Increase, Inventory Remains Low in August

August 2017

A COMPLETE LIST OF COMMITTEE MEETINGS, EDUCATION COURSES AND OTHER BOARD EVENTS CAN BE FOUND ONLINE AT SABOR.COM

UPCOMING BOARD EVENTSOctober 2017

Carlos C Rendon - Starkey MortgageMelinda P Agado - MNM MarketingScott P Graham - Alpha Omega Home InspectionsJohn A Stewart - Stewart’s Inspections

Kim Sczesniak - Alamo RE Investors AssociationJeff Kuglen - Value PestLawrence F Zuniga - Go 2 Home InspectionsGeorge Esparza - US Health Advisors

WELCOME NEW AFFILIATE MEMBERS

Facebook.com/SABoardofREALTORS

Linkedin.com/companies/san-antonio-board-of-realtors

@ SABoardREALTORS

YouTube.com/SABoardofREALTORS

Pinterest.com/SABoardREALTORS

@SABoardREALTORS

JOIN US ON SOCIAL MEDIA

SABOR Road Shows17, 18 & 24YPN’s Monster Mash’d Appy Hour24

Special General Membership Meeting5

31 Blood Drive

Habitat Built6

Apartment & Relocation CenterAshton Woods American Home ShieldBarton Co CarpetsBecker PropertiesCalAtlanic HomesChesmar HomesDavid Weekley HomesDirections EquityDroneview LLCFarmer’s Insurance - Carlos CruzFidelity National Home WarrantyGateway Mortgage Group, LLC

Gehan HomesGuild MortgageHollaway HomesHomeTrust MortgageiMortgageJaphet HomesJefferson Bank MortgageMaximum InspectionsMcMillin Texas HomesNAHREPNARPMNew Leaf HomesOn the Move

Open Mortgage Co.Pilgrim MortgageRE/MAX UnlimitedScott Felder HomesSmart Choice MortgageSouth Central Surveyors of TexasState Farm - Devin HidalgoSWBC MortgageThe Lookout GroupTrinity TitleWard North AmericanWCR

KB Home The Lookout Group

Monticello HomesSitterle Homes

Capital Title Old Republic Home ProtectionZippy Shell

THANK YOU TO OUR SABOR ADVERTISERSPlatinum

Bronze

Silver

Gold

Richard Alcorta

Tim Brown

Michelle Ellis

Sara Gerrish

Cortney Gill

Ben Henderson

Diane Lauer

Grant Lopez

Cher Miculka

Patsy Oakley

Trudy Pape

Rick Rodriguez

Kim Young

ChairmanYvette M. Allen

Chairman-ElectLorena Peña

Secretary/TreasurerMarty Hutchison

Member-At-LargeKim Bragman

Member-At-LargeDiane Lauer

Immediate Past ChairmanBob Jacobs

BOARD OF DIRECTORS

The San Antonio Board of REALTORS® is an advocate for community involvement and actively participates with our two charities of choice: Habitat for Humanity and SAMMinistries. These charities reflect the values and goals SABOR members strive for, to help the San Antonio community find a place to call home. Each year SABOR members participate in numerous activities with both charities, find out here how you can get involved.

SAMMinistries is an interfaith ministry whose mission is to help the homeless and those at risk of becoming homeless attain self-sufficiency by offering, with dignity and compassion, shelter, housing and services. Each year SABOR participates in a variety of events and drives for the residents of SAMMinistries. While many of these events have passed, there are still opportunities to get involved. During the month of November SABOR’s YPN Committee will host a toy drive that all members are encouraged to participate in. This event provides holiday gifts for the children at the SAMM shelter. SABOR also hosts “Santa at SAMM” which allows the families at SAMMinsitries to participate in holiday arts and crafts and get family pictures with Santa. This is a fun event and volunteers are always welcome.

Additionally, SABOR members participate in build days with Habitat for Humanity, to join them in their mission to eliminate poverty housing in San Antonio. These builds are a great way for our members to interact with each other and really get their hands dirty helping families get into affordable homes. On October 6th, SABOR is hosting their second build of the year.

While the year is winding down and several of our charitable events have passed, stay up-to-date with SABOR’s events by visiting SABOR’s Facebook page. If you would like to participate in any of the events mentioned above please email communications@sabor.com for more details.

How to Get Involved with SABOR’s Charities of Choice

In light of the recent natural disasters like Hurricane Harvey, the San Antonio Board of REALTORS® has taken action to help the communities affected. Our members have stepped up and continue to provide relief for those in need.

In the aftermath of Hurricane Harvey, SABOR called for donations from our members and our expectations were exceeded. Countless SABOR members came together to donate non-perishable food items and cleaning supplies to help hurricane victims reclaim their lives and homes. SABOR partnered with the Corpus Christi Association of REALTORS® to collect and distribute the items donated to those in need. We are proud and grateful to have members who care not only about our community but other communities in Texas.

In addition to the drive, SABOR’s Board of Directors voted to donate a total of $108,980, or $10 on behalf of each SABOR member, toward the Texas REALTORS® Relief Fund. One hundred percent of that money will

go back to Texas communities who suffered displacement or other damage as a result of the recent severe weather and flooding. Without our members this donation would not have been possible.

To help combat blood shortages in the aftermath of Hurricane Harvey, SABOR is planning a blood drive with the South Texas Blood and Tissue Center for October 31st. Members who sign up to donate will be provided Halloween themed treats and can watch nostalgic Halloween movies while they give. We encourage our members to join us on Halloween to help provide blood to those in need. Twenty-seven donations is equivalent to saving 83 lives. If you would like more information on how to participate in SABOR’s blood drive please visit SABOR.com or email Annelise@sabor.com.

Again, a big thank you to our membership for participating in our charitable outreach, we appreciate all of your involvement.

SABOR Members Give Big in Hurricane Aftermath