Ann Peterson NOCBOR President

Goodbye Summer – Hello Fall!

As much as I love summer, I love fall, just

as much because it is a time of renewal, change

and a time to reflect, relax and prepare for the

coming year!

I hope everyone is having a successful year

and taking time to attend the many workshops

held at the Board and completing the yearly

continuing education. The deadline is fast

approaching!

So much has happened since the last

newsletter! On September 18, several of us

attended Capitol Day with the Michigan

Realtors®. Over 200 Realtors® walked the

halls and spoke with our State Representatives,

informing them of the legislation that will be

affecting our industry. It is so exciting to

watch the House of Representatives in action!

Also, walking through the State Capitol and

admiring the workmanship of years past in our

majestic Capitol building is something you

should see. If only the walls could talk!

Many of us also attended the Michigan

Realtors® Convention held in Detroit, October

2-4. It was great to have the event in our

backyard. A few years ago when we lost our

highly active and insightful Bill Haviland, we

developed the Bill Haviland Tribute Fund

which would allow us to choose a recipient

based on incredible academic leadership. This

years’ recipient was Terrie Junkin,

(RE/MAX Nexus). I have known Terrie for

many years and she has continually attended

State and National Conventions, completed the

NAR Commitment to Excellence program

and earned the registration to the annual

Michigan Realtor® Convention and one night

lodging this year! Congratulations Terrie

Junkin!

Every year we also choose a Realtor®

Active-in-Politics and this year Jenifer

Rachel, (Keller Williams Premier), was

selected. Jenifer is active as Vice Chairman of

our Government Affairs Committee and serves

on MR® Public Policy Committee. Her

dedication to our industry has earned her this

honor. Congratulations Jenifer Rachel!

We also selected NOCBOR Realtor®-of-

the-Year. I was honored to be chosen. I strive

to make sure that our industry has a voice and

representation so we can continue having the

best profession to earn a living while creating

a life! I am truly grateful to represent our

membership! Thank you.

The Convention featured some amazing

speakers including, Col Nicole Malachowski,

a retired US Air Force officer who was the

First Female Pilot selected to fly as a

Thunderbird. Her story is as exciting and

remarkable as flying high in the sky with this

precision! There were many great classes from

technology to inspiration. If you have never

attended, you need to - words cannot begin to

describe what an amazing experience it is!

Our Annual Membership Meeting was

held on 10/8 at the MSU Education Center in

Troy. We had the honor of the Assistant

Attorney General Scott Teter speak on Elder

Abuse and was it startling. I hope that

everyone uses care and due diligence when

dealing with the elderly or any vulnerable

adults over the age of 18. Stay tuned for other

opportunities to attend great events like this

one.

Election Time

Important elections are coming up on

November 5, with many ballot initiatives for

every community. If you have not checked out

the various ballot initiatives you should

take the time to learn what is happening in the

communities you service and see if any

will affect private property rights, our

profession they have an impact on the future

real estate market. If you are not registered to

vote there is still time.

What’s on the horizon? The National

Association of Realtors® Convention in San

Francisco, November 6-11. As your President,

I am looking forward to this event because so

many changes will be occurring in our

industry, in the near future, that being in the

know will help us make better decisions at the

local level. If you have not attended, add this

to your Bucket List. I will be reporting back in

the next newsletter.

What else is happening in our industry?

* Second Homes and Vacation Rentals

* Can buyers photograph a seller’s property

* Coming Soon and other Off-MLS listings

* Land Division from a Seller’s Perspective

* Criminal Background Checks

* Contingency Clauses in a Purchase

Agreement.

* Facebook required to reform its

advertising platform

* Dual Agency in the Hotseat

* Copyright law-Photographs and Other

Creative Listing Components

And last, but not least,

* After the Legalization of Recreational

Marihuana

This is some great information to follow

up on and learn about. Any questions, reach

out to your Michigan Realtors® for more

information.

Lastly, to acknowledge the hard work

and dedication of Mary Rettig, RE/MAX

Classic, for organizing our RPAC speakers

for our classes, working with Jenifer

Rachel to arrange a successful RPAC Major

Investor luncheon, where over $8,000 was

raised for the Realtors® Active in Politics ®

fund. Thank you Mary - your dedication is

appreciated!

Don’t forget to check out the Book of the

Month Club led by Steve Stockton, various

workshops, and of course, our Special

Awards & Installation luncheon coming

January 24, 2020. Start thinking about

choosing the 2019 Rookie-of-the-Year,

Broker/Manager-of-the-Year, Humanitarian

and Distinguished Service and

Humanitarian of the Year.

Until next time, SALE ON! Ann

Volume 31 | Issue 5 October/November 2019

2019 OFFICERS

President Ann Peterson, GRI, ABR, SRES, e-PRO 495-8877

President-Elect Maddy Dishon 620-1000 Treasurer Steve Stockton, SFR 360-2900 Secretary David Niezgoda 625-0200

BOARD OF DIRECTORS

David Botsford 626-2100 Brenda Davis 556-7400 Jon Devine 625-5700 Matt Diskin 228-4647 David Elya, CRS, GRI, ABR, SFR, e-PRO 652-7000 Dana Fox 884-6600 Cheryl Gates-Beers 394-0400 James Gillen 845-2669 Tom Kotzian, GRI (NAR Director) 652-8000 Geoff Leach 360-9100 Ray O’ Neil, GAA, RAA (NAR Director) 674-3333 Jenifer Rachel, ABR (Past President) 394-0400 Mary Rettig 646-5000 Marcy Soufrine 360-2900

STAFF

Patricia Jacobs Executive Vice President Katie Balkwell Director, Special Projects Janet Sneckenberger Director, Finance Millie Traylor Administrator, Member Services Tonya Wilder Executive Assistant

COMMITTEE CHAIRMEN

Budget & Finance Maddy Dishon

Bylaws Tom Kotzian, GRI Education/Technology Dana Fox Executive Ann Peterson, GRI, ABR, SRES, e-PRO Government Affairs Ray O’Neil, GRI, GAA, RAA Membership Services Brenda Davis Nominating Jenifer Rachel, ABR Professional Standards Arbitration Kay Pearson, CRS

Eric Pernie Ethics Sally Bell Pam Bradshaw Mary Rettig Kathleen Sanchez

Grievance Paul Carthew

REALCOMP II LTD. GOVERNORS David Elya, CRS, GRI, ABR, SFR, e-PRO 652-7000 Geoff Leach 360-9100

REALCOMP USER GROUP Tanya Dempsey Mitchell

Matt Diskin Geoff Leach

Marcy Soufrine

REALCOMP SHAREHOLDERS’ TASK FORCE Ray O’Neil, GAA, RAA

Ann Peterson, GRI, ABR, SRES, e-PRO

NAR® DIRECTORS Tom Kotzian, GRI

Ray O’Neil, GAA, RAA

MR® DELEGATES Ann Peterson, GRI, ABR, SRES, e-PRO

Maddy Dishon

NORTH OAKLAND COUNTY BOARD OF REALTORS 4400 West Walton | Waterford | MI | 48329 Phone (248) 674-4080 | Fax (248) 674-8112

E-mail: info@nocbor.com www.nocbor.com

Page 2

Board of Directors August, 2019

MOTION CARRIED to approve

One (1) Primary Designated Realtor®;

Seventy-four (74) Primary Realtors®

and One (1) Secondary Designated

Realtor®.

MOTION CARRIED to request

NOCBOR Realcomp Governors to

table “Coming Soon” proposal

indefinitely.

MOTION CARRIED to approve

the Decision of the Ethics Hearing

Panel and the disciplinary action as

recommended pursuant to Lasco &

Haffajee vs. LeBourdais.

MOTION CARRIED to approve

the Decision of the Ethics Hearing

Panel regarding Krausman vs.

Nummer.

MOTION CARRIED that

NOCBOR Annual Membership

meeting be scheduled on Tuesday,

October 8, 2019 at the MSU

Education Center in Troy.

In Memoriam

Robin Cooke (EXP Realty-

Plymouth) passed away August 7,

2019. NOCBOR members, Directors

and staff extend their deepest

sympathy to the Cooke family.

Hanna Gia Han Do, 4 year old

precious daughter of Shawn Hung Do

(Liberty Way Realty-Clarkston) passed

away on August 22, 2019. NOCBOR

members, Directors and staff extend

their deepest sympathy to the Do

family.

Gary West (Real Estate One-

Clarkston) quietly passed on

September 2, 2019. NOCBOR

members, Directors and staff extend

their deepest sympathy to the West

family.

NOCBOR extends sympathy to the

family and friends of Michael Ennis

(Esoteric Realty) who left our land on

September 14, 2019. Robert Hittinger (Keller Williams

Showcase Realty) suddenly passed on

August 31, 2019. NOCBOR members,

Directors and staff extend their deepest

sympathy to the Hittinger family.

Board of Directors September, 2019

MOTION CARRIED to approve

One (1) Primary Designated Realtor®;

Thirty Four (34) Primary Realtors®

and One (1) Secondary Realtor®.

MOTION DEFEATED to move

forward with the approval of the

proposed Realcomp Strategic Plan as

presented to the Realcomp

Shareholders on September 12, 2019.

MOTION CARRIED to approve

the Decision of the Ethics Hearing

Panel regarding Carl Vagnetti vs.

Tracey Brown and implement

disciplinary action.

President’s Circle

The RPAC President’s Circle is an

influential group of country-wide

Realtors® who contribute directly to

Realtor®-friendly candidates.

NOCBOR is proud to acknowledge

the generous $1,000 annual

contribution of the following

members: Matt Diskin (Property

Valuation Group); Andrea Esse

(RE/MAX Defined); Terrie Junkin

(RE/MAX Nexus); Rick Linnell

(Linnell & Associates) and Kristine

McCarty (Keller Williams First).

Political Action Committees can

legally contribute $10,000 per election

cycle to members of Congress. The

President’s Circle program supports

Realtor® Party Champions-members of

Congress who have made significant

achievements in advancing the Realtor®

public policy agenda.

Politically Inclined

If real estate if your profession,

politics is your business! NOCBOR

members who have recently

contributed more than their “Fair Share

of $50” thoroughly understand the

meaning of this adage.

NOCBOR recognizes the following

members who have demonstrated their

total commitment to their real estate

profession. Thank you:

Curt Carson (RE/MAX Showcase

Homes) $250; Dana Fox (Lake

Michigan Credit Union) $300;

Randy Miller (RE/MAX Encore) $500

and Donna Sanford (Berkshire

Hathaway) $500.

Page 3

Chris Mersino Realtor® Owner

MBA Real Estate Services Clarkston

Geoff Leach Realtor®

CENTURY 21 Row

West Bloomfield

NOCBOR. As a Major RPAC Investor, Ann understands the need to politically network to promote the “American Dream.” She has earned her broker’s license, as well as the GRI®, ABR® and SRS® Designations, and the e-Pro® Certification, and is owner of Ann Peterson Realty.

Ann served as Realcomp Governor, as well as on the Realcomp User Committee. As a past member of the Michigan Realtors® Public Policy Committee, Ann was involved with the proposed amendments to the Michigan Real Estate License Law regarding advertising. As 2018 Vice Chairman of NOCBOR Government Affairs Committee, Ann has worked with the members of the Michigan Legislature and has high priorities in keeping the consumer at the front of the transaction.

Ann Peterson, your 2019 President, has been selected as NOCBOR Realtor®-of-the-Year. With over 28 years of experience in the real estate profession, Ann has been an active NOCBOR member, who has served on the City Council for Rochester since 2014. In 2011, Ann volunteered her experience wisdom and passion to

Jenifer Rachel Realtor®

Keller Williams Premier Clarkston

Tina Zudell Realtor®

RE/MAX Encore Clarkston

You Elected Them

Congratulations NOCBOR Directors!

Ann Peterson Realtor® Of-The-Year

Jenifer Rachel Realtor® Active In Politics

Dana Fox Affiliate

Lake Michigan Credit Union White Lake

Selected as NOCBOR 2019 Realtor® Active In Politics Jenifer Rachel, has been licensed and a member of NOCBOR since August, 2006, and an associate broker with Keller Williams Premier in Clarkston. Jenifer served as your 2018 President and has been a member of the Board of Directors since 2012, including President-

Elect, Treasurer and Secretary. As a Major RPAC Investor and 2019 Vice Chairman of NOCBOR Government Affairs Committee, Jenifer has served as member of the Committee for over 10 years, and understands why it’s essential Realtors® take an active role in local, state and federal government. A member of the Michigan Realtors® Public Policy Committee and a Graduate of the Michigan Realtors® Leadership Academy, she also serves on the National Association of Realtors® State and Local Policy Issues Committee. Congratulations, Jenifer!

NOCBOR Events

Monday Tuesday Wednesday Thursday Friday Saturday 28

29 9:30 a.m. – 3:30 p.m. 2019 Con-ed Sally Bell

30 12:30 p.m. Executive 1:30 p.m. Board of Directors

31 9:30 a.m. Book of The Month Club

1

2 8 a.m. – 4:30 p.m. Pre-License Class

4

5 10 a.m. – 1 p.m. “Carbon Monoxide, Preventative Maintenance & Indoor Air Quality” (3 hours con-ed) Randy Patterson

6 10 a.m. Interboard Arbitration

7 8 10 – 11:30 a.m. Free Workshop “Remine Agent Pro” Realcomp Staff

9 8 a.m. – 4:30 p.m. Pre-License Class

11 12 9:30 a.m. Membership Services 11 a.m. – 12:30 p.m. Free Workshop “Grant Money For Your Business Investors, Clients or Non Profit” 6-10 p.m. Pre-License Class @ NOCBOR

13 11 a.m. Free Workshop “Visa’s/Trusts & Land Contracts” Janis Hurt

14 10 a.m. – 12 p.m. Free Workshop “Security Deposits; Updated & Remodeled; Wire Fraud; PRE & New Construction“ Phil Seaver 6-10 p.m. Pre-License Class @ Middleton

15 10 a.m. Free Workshop “Fast & Accurate CMA’s” Rick Bailey

16

18 9:30 am. Education/Tech 11:30 a.m. Government Affairs

19 10 – 11 a.m. “The Ins & Outs Of New Construction Financing” Dana Fox 6-10 p.m. Pre-License Class @ NOCBOR

20 1:30 p.m. Board of Directors

21 9:30 a.m. Grievance Committee Group A 11:30 a.m. Free Workshop “What Every Realtor® Must know About Credit & Credit Scores” (1 hour con-ed) Brenda Brosnan 6-10 p.m. Pre-License Class @ Middleton

22 23

25

26 6-10 p.m. Pre-License Class @ NOCBOR

27 6-10 p.m. Pre-License Class @ Middleton

28 OFFICE CLOSED

29 OFFICE CLOSED

30

2

3 6-10 p.m. Pre-License Class @ NOCBOR

4

5 9:30 a.m. Realcomp Annual Shareholders 6-10 p.m. Pre-License Class @ NOCBOR

6 7

9 9:30 am. Education/Tech

10 9:30 a.m. Membership Services 6-10 p.m. Pre-License Class @ Middleton

11 10 a.m. Ethics Hearing

12 10 a.m. “Commercial Real Estate 101” (2 hours Con-ed) Jon Devine 6-10 p.m. Pre-License Class @ Middleton

13 6-10 p.m. Pre-License Class @ Middleton

14 6-10 p.m. Pre-License Class @ Middleton

16 11:30 a.m. Government Affairs

17

18 1:30 p.m. Board of Directors

19 9:30 a.m. Grievance Committee Group B

20 9 a.m. – 5 p.m. e-PRO @ NOCBOR Lori Chmura

21

23 24 OFFICE CLOSED

25 OFFICE CLOSED

26 27 9 a.m. – 5 p.m. e-PRO Lori Chmura

28

30 31 OFFICE CLOSED

Page 4

Page 5

Special Awards

It’s time to nominate your favorite and most deserving business

associates for the NOCBOR 2019 Special Awards. Below are the

award categories. Nominations must be submitted to NOCBOR no

later than December 6, 2019.

This is your opportunity to nominate your favorite Realtors®

and Affiliate members.

Broker/Manager-Of-The-Year: You know who this is! It’s

that person who you can always count on and consider part of your

support system. This candidate can be nominated by any

NOCBOR member. A narrative must accompany all nominations.

Distinguished Service: The nominee must be a Realtor®

member. To nominate a candidate for this award, please submit a

narrative describing a real estate transaction in which the nominee

displayed a true sense of professionalism and ethical behavior.

This is your chance to express your appreciation for a “job well

done!” A narrative must be submitted.

Rookie-Of-The-Year: Must be nominated by the Designated

Realtor® of the office with which the nominee is affiliated. The

award will be given to an individual who has been in the business

less than 18 months and will be based on productivity and

congeniality. A narrative must be submitted.

Humanitarian & Community Service: This award must go to

a Realtor®. It will be in recognition for outstanding contributions

and dedication toward the betterment of the community. A narrative

must be submitted.

Affiliate-Of-The-Year: This award must go to an Affiliate

member. Realtors® can nominate Affiliate-Of-The-Year nominees

on the basis of outstanding professionalism and Board activity. A

narrative must be submitted.

You can find the Special Awards Nomination form on

nocbor.com

Enjoy The SentriLock Difference

More than just a lockbox, the easy-to-use SentriLock solution

features instant showing notifications, robust reporting, and world-

class customer service. Plus, the new SentriKey app is sleeker,

smarter, and simpler.

Who: SentriLock is the official lockbox solution for NAR and

Realcomp. As the leading electronic lockbox manufacturer and

provider of property access management solutions, SentriLock

operates in support of Realtors® and the industry, offering an easy

to use, reliable and secure system. Fundamental core values guide

every action and decision to provide the best service and experience

for your benefit.

What: The SentriLock Bluetooth Realtor® Lockbox is the most

secure, durable, and versatile within the industry. SentriLock’s

reliable, multiple key access method, including via mobile app or

keycard, helps to efficiently gain property access.

Don’t Mess With RESPA A veteran Miami agent has a long and close relationship with a

local title company, having referred them many customers over the

years. The company recently gave her tickets to a Miami Heat

game, which she enjoyed. But she just learned that accepting this

gift may have been a RESPA violation. Is it? And if so, how can

her broker help to fix this situation?

Even the appearance of accepting kickbacks from title

companies, lenders and closing attorneys in exchange for referrals

is a serious no-no. RESPA (Real Estate Settlement Procedures Act)

was passed specifically to ban abusive practices that inflated the

costs of real estate transactions and discouraged competition. It is

the cornerstone of the real estate industry, and it must be respected

fully, at the risk of lawsuits from government, consumers and

aggressive attorneys who actively seek out these violations.

Unfortunately, many agents still accept gift cards and tickets from

these service partners like they are candy, thinking this is a

victimless and undetectable crime, but they are absolutely wrong

about that.

In the case of the Miami agent, the evidence of the exchange is

obvious, with a paper trail of the title company owner making the

offer, the agent accepting and the tickets being transferred via

email. It’s a “slam dunk” for investigators and possibly a federal

crime. Certainly, the agent could make the case that the tickets

were offered and accepted out of personal friendship (and not tied

to any referrals), and while that technically might be true, it could

still be considered a kickback, and a RESPA violation.

RESPA is no joke! Any item of value that could even be

considered a gesture to get more business is simply not allowed.

Everyone likes to say “thank you” for referrals. Agents do it all the

time with customers and friends. But that is an “apples and

oranges” situation, with respect to actually accepting gifts from

settlement service partners. Keeping it to the verbal “thank you” is

the only way to avoid the risk.

In this isolated case, it is unclear how the agent should go about

making amends for what might or might not be a violation, but it

would be wise to reimburse the title company owner for the fair

market value of the tickets and keep a record of the reimbursement.

Your Continuing Education Requirements

The State of Michigan requires real estate licensees to earn at least 18 hours of continuing education (CE) credits every 3 years in order to renew their real estate license. The topic number and course name must be different from the other courses a licensee has taken within the 3 year period. Each year a licensee must complete at least 2 hours of education that involves law, rules and court cases regarding real estate. This is part of your 18 total hours for the 3 years and any extra legal hours earned count towards the total requirement. If a licensee fails to complete 2 hours of legal credit in a year they may try to make it up in proceeding years but if they are audited this does not guarantee they will not be penalized.

To check your CE Credits log into the CE Marketplace ». Important 2019 Reminder About Credit Reporting! An important change has been made to the way that continuing education credits are recorded on CE Marketplace that you need to know about. You are no longer able to self-report learning certificates on CE Marketplace. Previously, you were able to attach certificates for classes that were not CE Marketplace certified in your account. Beginning November 1, 2018, all courses must be CE Marketplace certified. This means that all of your credits will be automatically reported for you. After your class attendance has been reported by an instructor or sponsor’s administrator, you will receive a class completion certificate by email. Watch for this email to arrive! It confirms that your attendance in the class has been successfully reported and recorded in your CE Marketplace account. Please note that your class attendance will be reported to CE Marketplace within ten days. If you do not receive the confirmation, it is your responsibility to contact the sponsor’s administrator or instructor. Further, you do not need to send proof of CE to the Department unless you are being audited and have been asked to submit the information. If you:

● Renewed your license in 2018 or ● Were issued a new license between 7/1/2018 - 10/31/2019 or ● Were relicensed between 7/1/2018 - 10/31/2019

Then you need: ● 6 hours (2 hours each year) of CE that involves law, rules & court cases regarding real estate.

● 12 hours of other CE ● For a total of 18 hours of CE prior to renewing your license in 2021.

If you: ● Were issued a new license between 11/1/2019 - 10/31/2020 or ● Were relicensed between 11/1/2019 - 10/31/2020

Then you need: ● 4 hours (2 hours each year) of CE that involves law, rules & court cases regarding real estate. ● 8 hours of other CE ● For a total of 12 hours of CE prior to renewing your license in 2021.

If you: ● Were issued a new license between 11/1/2020 - 7/3/2021 or ● Were relicensed between 11/1/2020 - 7/3/2021

Then you need: ● 2 hours of CE that involves law, rules & court cases regarding real estate. ● 4 hours of other CE ● For a total of 6 hours of CE prior to renewing your license in 2021.

Note: ● If you hold an associate and/or individual broker license and you have held an active salesperson license between 7/1/2018 - 10/31/2019 you are required to complete the entire 18 hours of CE. ● If you were relicensed and used any courses to fulfill the previous year’s CE requirements, those courses cannot be used again for the 2021 renewal.

For answers to any questions about CE hours or tracking credits and class completion, visit www.cemarketplace.net or contact us at tracking@cemarketplace.net or 844.642.6633. Visit our Calendar to view and register for in-person classes or checkout our Online Courses.

Page 6

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HUD Unveils New Condo Guidance That Could Boost Sales!

The Department of Housing and Urban Development (HUD)

has issued its final rule on condominium financing insured by the

Federal Housing Administration (FHA), a move designed to help

more would-be buyers become eligible for a mortgage.

Specifically, the new rules will: • Extend FHA certifications on condo developments from two

years to three years, reducing the compliance burden on condo

boards.

• Allow for single-unit mortgage approvals—often known as

spot approvals—that will enable FHA insurance of individual

condo units, even if the property does not have FHA approval.

• Secure additional flexibility in the ratio of investors to

owner-occupants allowed for FHA financing in a condo

building.

Prior to these changes, FHA approvals for condos have been

heavily restricted. For example, the National Association of

REALTORS® (NAR) pointed to data earlier this year showing

that in Florida’s Miami-Dade County, there were 5,683 condo

projects—but only seven had FHA approval.

Page 8

“It goes without saying that condominiums are often the most

affordable option for first-time home buyers, small families, and

those in urban areas,” NAR President John Smaby said in a

statement. “This ruling, which culminates years of collaboration

between HUD and NAR, will help reverse recent declines in

condo sales and ensure the FHA is fulfilling its primary mission

to the American people.”

NAR has advocated for more than a decade for many of the

changes. The association's most recent existing-home sales

report, released in July, showed that sales of condos and co-ops

dropped 6.5% year over year. Further, with more than 8.7 million

condo units nationwide, only 17,792 FHA condo loans were

originated in the past year. Down payments for single-family

homes also have grown significantly more expensive in recent

years in the absence of widely accessible FHA condo financing.

In 2009, FHA had restricted its condo approval process,

which limited the number of properties that could receive FHA

loans. In 2016, it moved to lift several of those restrictions, but

the proposed rules were never finalized.

HUD’s final rule took effect on October 15, 2019. Copy of

the Project approval for single – family condominiums is

available upon request, 248-674-4080.

Free Workshops

Friday, November 8 (10 – 11:30 a.m.) “Remine Agent Pro” Realcomp Staff

Tuesday, November 12 (11 a.m. – 12:30 p.m.) “Grant Money For Your Business Investors, Clients or Non Profit” Jeanine Sample, Grant Money Express

Wednesday, November 13 (11 a.m.- 1 p.m.) “Visas/Trusts & Land Contracts” Janice Hurt, Lake Michigan Credit Union (Lunch provided)

Thursday, November 14 (10 a.m. – 12 p.m.) “Security Deposits; Updated & Remodeled; Wire Fraud; PRE & New Construction“ Phil Seaver, Seaver Title Friday, November 15 (10 a.m. – 12 p.m.) “Fast & Accurate CMAs” (Please bring your computer) Rick Bailey, Bailey Realty & Investment Tuesday, November 19 (10- 11 a.m.) “The In’s & Out’s of New Construction Financing” Dana Fox, Lake Michigan Credit Union

Thursday, November 21 (10 – 11 a.m.) “What Every Realtor® Must Know About Credit & Credit Scores” (1 hour con-ed) Brenda Brosnan, Summit Funding Thursday, December 12 (10 a.m. – 12 p.m.) “Commercial Real Estate 101” (includes 2 hours con-ed) Jon Devine, Keller Williams Advantage Location: NOCBOR To register: nocbor.com

Con-ed With Lunch

Tuesday, November 5 (10 a.m. - 1 p.m.)

"Carbon Monoxide, Preventative Maintenance & Indoor Air Quality" (includes 3 hours con-ed)

Instructor: Randy Patterson, Pillar to Post

Course fee: $5.00

Location: NOCBOR Register: nocbor.com

e-PRO Certification Course Friday, December 20 & 27, 2019

Stay ahead of the digital curve with NAR’s e-PRO® certification course. This two-day program helps you:

• Master advanced digital marketing techniques. • Increase your ability to reach and convert customers. • Create an online marketing strategy that drives business. • Protect your business and safeguard client information.

Additionally, our new e-PRO® curriculum will cover the importance of data privacy, the laws in place, and how to implement best practices as outlined by the Federal Trade Commission to protect client information from a data breach. Protecting client information is not only good business — in many cases, it’s the law. Completion of e-PRO® will not only help you adhere to the law by keeping your client data safe, but it will also protect the reputation of your company.

After you’ve completed the coursework, simply submit your certification application online with a onetime application fee ($149). For information on earning NAR’s e-PRO® certification, visit epronar.com.

Time: 9:00 a.m. - 5:00 p.m.

Cost: *$315.00 Bring a Buddy: *$267.75

Instructor: Lori Chmura

Location: NOCBOR Register: nocbor.com

Accredited Buyer Representative Friday, January 17, & January 24, 2019

“Marketing Practice” & “Office Policy, Negotiations and Relocations.” Both classes are approved by REBAC (Real Estate Buyer’s Agent Council) and fulfills the educational requirements for the ABR Designation. ABR counts as 15 hours of real estate continuing education credit or can be used toward 90 hour broker pre-licensing requirement. Must take an elective for designation*. *Qualifies for the NOCBOR interest free Education loan.

Time: 9:00 a.m. – 5:00 p.m.

Cost: *$310 (includes elective, materials & first year dues) Bring a Buddy: *$263.50

Instructor: Lori Chmura

Location: NOCBOR Register: nocbor.com

Page 9

Pre License Training 40 hours

Tuesday & Thursday Evenings

6-10 p.m.

November 12*, 14**, 19*, 21**, 26*, 27** December 3*, 5*, 10**, 12**, 13** & 14*

*NOCBOR 4400 W. Walton Blvd

Waterford, 48329

**Middleton Real Estate Training 901 Tower Dr. Ste 120

Troy, 48098

Register no later than November 10, 2019 with Visa/Mastercard

248-885-8311 $305 includes materials

Local Market Update – September 2019A Research Tool Provided by Realcomp

NOCBOR® ReportCovers the following northern areas of Oakland County: Auburn Hills, Bloomfield Twp, Brandon Twp, City of the Village of Clarkston, Springfield Twp, Fenton, Groveland Twp, Holly Twp, Holly Vlg,Independence Twp, Keego Harbor, Lake Angelius, Lake Orion Vlg, Orchard Lake, Orion Twp, Ortonville Vlg, Oxford Twp, Oxford Vlg, Pontiac, Rose Twp, Sylvan Lake and Waterford Twp.

Residential September Year to DateKey Metrics 2018 2019 % Change Thru 9-2018 Thru 9-2019 % Change

New Listings 607 610 + 0.5% 5,960 5,776 - 3.1%

Pending Sales 359 354 - 1.4% 3,546 3,537 - 0.3%

Closed Sales 375 398 + 6.1% 3,348 3,331 - 0.5%

Days on Market Until Sale 28 32 + 14.3% 34 38 + 11.8%

Median Sales Price* $225,000 $232,000 + 3.1% $235,000 $242,388 + 3.1%

Average Sales Price* $295,664 $279,766 - 5.4% $292,359 $298,234 + 2.0%

Percent of List Price Received* 97.8% 98.0% + 0.2% 98.0% 97.8% - 0.2%

Inventory of Homes for Sale 1,646 1,315 - 20.1% –– –– ––

Months Supply of Inventory 4.4 3.6 - 18.2% –– –– ––

Condo September Year to DateKey Metrics 2018 2019 % Change Thru 9-2018 Thru 9-2019 % Change

New Listings 93 98 + 5.4% 915 934 + 2.1%

Pending Sales 61 71 + 16.4% 657 590 - 10.2%

Closed Sales 61 65 + 6.6% 611 551 - 9.8%

Days on Market Until Sale 20 41 + 105.0% 33 33 0.0%

Median Sales Price* $132,000 $175,000 + 32.6% $165,000 $176,000 + 6.7%

Average Sales Price* $165,922 $219,896 + 32.5% $197,300 $223,394 + 13.2%

Percent of List Price Received* 97.6% 97.7% + 0.1% 97.8% 97.9% + 0.1%

Inventory of Homes for Sale 165 174 + 5.5% –– –– ––

Months Supply of Inventory 2.5 2.8 + 12.0% –– –– ––

* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.

A rolling 12-month calculation represents the current month and the 11 months prior in a single data point. If no activity occurred during a month, the line extends to the next available data point.

Median Sales Price - ResidentialRolling 12-Month Calculation All MLS

NOCBOR® Report

1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019

$50,000

$100,000

$150,000

$200,000

$250,000

Median Sales Price - CondoRolling 12-Month Calculation All MLS

NOCBOR® Report

1-2003 1-2005 1-2007 1-2009 1-2011 1-2013 1-2015 1-2017 1-2019

$50,000

$75,000

$100,000

$125,000

$150,000

$175,000

$200,000

Current as of October 1, 2019. All data from Realcomp II Ltd. Report © 2019 ShowingTime.

Support Your NOCBOR Affiliates

Akers, Joe (HiTech Real Estate) 248-238-4449 Barnett, Larry (Attorney at Law) 248-625-2200 Bartus, Barb (Michigan First Mortgage) 248-666-2700 Brosnan, Brenda (Summit Funding) 248-515-3855 Bruce, Cheryl (Seaver Title) 248-338-7135 Buick, James (Team One Credit Union) 248-508-0135 Chamberlain, Craig (Rouff Home Mortgage) 248-241-6211 Davis, Ernest (Home King Inspection Service) 248-288-4770 Dawson Michael (Union Home Mortgage) 248-467-0257 Fox, Dana (Lake Michigan Credit Union-White Lake) 248-884-6600 Franskoviak, Michael (Franskoviak & Company, PC) 248-524-5240 Galvez, Joseph (John Adams Mortgage) 248-390-1124 Gelbman, Mark (Caliber Home Loans) 248-266-7809 Green, Brent (Lake Michigan Credit Union) 248-484-7117 Hudson, Matt (First American Title Co.) 248-789-6371 Jarvis, Beth (Title Connect) 586-226-3506 Joandrea, Dan (Total Home Inspection) 248-550-9492 Kandah, Alexander (Bank Of England Mortgage) 248-633-8555 Katsiroubas, Mary (First National Home Mortgage) 855-910-2700 Kirkpatrick, Mark (Floor Trends) 248-220-3015 Kirkpatrick, Mark (XCEL Carpet Cleaning) 248-462-2393 Kraft, Stacey Grava (Home Warranty of America) 248-330-1076 LaPorte, Jeff (The Home Team Inspection) 248-366-6215 Linnell, Richard (Linnell & Associates) 248-977-4185 Lipson, Craig (Jet Directing Funding Corp.) 269-598-7171 Morrow, Michael (LENDERFUL) 248-909-9412 Mustola, Mark (Value Check Home Inspections) 810-750-0000 Oates, Lynn (Envoy Mortgage) 248-218-0663 Patterson, Randall (Pillar To Post) 248-755-3422 Porritt, James Jr. (Attorney At Law) 248-693-6245 Proctor, Michael (Michael Proctor) 248-931-1018 Powsner, Carl (Lighthouse Title Co. 810-606-0050 Rose, David (Rose Certification Inspections) 248-625-9555 Sasek, Luke (Cutco) 616-295-5537 Seaver, Phil (Seaver Title) 248-338-7135 Siebert, Brian (First National Home Mortgage) 855-910-2700 Silpoch, Brian (Transnation Title Agency, Metro Davison) 248-605-0600 Spencer, Grant (Michigan First Mortgage) 248-721-6676 St. Amant, Ron (Changing Places Moving) 248-674-3937 Taylor, Cindy (University Lending Group) 248-891-8226 White, Don (Genisys Credit Union) 586-764-1826 Zetye, Lauren (Movement Mortgage) 248-840-0972 Zuniga, Heidi (Metro North Federal Credit Union) 248-674-0491

Legal Q & A

Q: I am the listing Realtor®. An offer was made by a buyer that

was well below the listing price. I telephoned the buyer’s agent to

tell him that my seller has rejected the offer. The agent said that it is

necessary for the seller to reject the offer in writing. Is this true?

A: No. A seller has no legal obligation to reject an offer in

writing or to even respond to an offer at all.

Q: I represent a buyer who had a signed purchase agreement.

Just prior to the closing date, the buyer suffered buyer’s remorse

and chose not to purchase the property. The sellers are upset and

want the earnest money deposit, but the buyer is disputing the fact

that the sellers are entitled to the EMD. The sellers have also put

their house back on the market. I was told that the sellers could not

relist their house when there is a dispute over the EMD. Am I

correct?

A: No. The fact that the buyer and sellers are in a dispute over

the EMD does not prevent the sellers from relisting. However, if

the buyer has not clearly indicated that he will not go forward with

the purchase, the sellers should consult with an attorney before

binding themselves to a second purchase agreement.

Q: I am representing a buyer who has made an offer on a home.

The seller countered our offer with a clause stating that the buyer

waives his right to inspect the property. Is this permissible?

A: Yes. The seller is free to propose such a clause in a purchase

contract and it is up to the buyer to either agree or reject such a

provision.

Q: We received an offer on a listing, and it was accepted by

the seller. We delivered it back to the buyer’s agent two days ago.

Now we have been advised that the buyer refuses to bottom-line

the purchase agreement. Can the buyer walk away from the deal

and get his earnest money deposit back?

A: The buyer certainly cannot walk away from the deal and

get his earnest money deposit back by simply refusing to bottom-

line receipt of the purchase agreement. Unless the specific

purchase agreement requires a bottom-line signature in order to

form a contract, the contract between the buyer and the seller is

formed when the seller signs the offer and delivers his acceptance

to the buyer or the buyer’s agent. Traditionally, the practice of

bottom-lining has been done to assure that Realtors® can prove

that they complied with Rule 307 which requires a licensee to

provide a fully executed copy of the purchase agreement to the

seller and buyer.

Q: I have a client whose condominium association has

foreclosed a lien for non-payment of dues. How long is the

redemption period?

A: The redemption period for a foreclosure by the association

of co-owners is six months from the date of sale unless the

property is abandoned which will reduce the redemption period to

one month.

Q: I currently have a property listed by the heirs of a man who

died in his house as a result of a spider bite from a brown recluse

spider. Does my seller have to disclose this information?

A: Unless a prospective buyer asks if someone died in the

home, you do not have to disclose this information. However, if

there is a history of infestation in the home, the seller must disclose

that in the Seller Disclosure Statement.

Q: I am listing a 10-acre residential property that is traversed

by a utility easement. The easement will service a housing

development in the near future. Is my seller required to disclose

this easement?

A: Yes. The Seller Disclosure Act requires that a seller of

residential property disclose any easements affecting that property.

Page 11

nocbor.com to register! Page 12

e-PRO® certification course.

This two-day program helps you:

• Master advanced digital marketing techniques

• Increase your ability to reach and convert customers

• Create an online marketing strategy that drives business

• Protect your business and safeguard client information

Register today!

After you’ve completed the coursework, simply submit your

certification application online with a one time application fee.

($149). For information on earning NAR’s e-PRO® certification,

visit epronar.com.

Class Location: NOCBOR 4400 W. Walton Blvd. Waterford, MI 48329 Course Dates: Friday, December 20, 2019 (9 a.m.-5 p.m.) Friday, December 27, 2019 (9 a.m.- 5 p.m.) Cost: $315.00 Bring A Buddy: $267.50/Person

Instructor: Lori Chmura, Middleton Real Estate Training

Page 13

Golf Outing Provides Donations

On August 30, 2019, the (NOCBOR) presented the North

Oakland VFW Post 334 a donation check for $4,500 for two VFW

charities: VFW National Home for Children and VFW Camp

Trotter. These donations were made possible from a Charity Golf

Outing held on Wednesday, August 7, 2019 at the Fountains Golf

& Banquet in Clarkston.

The VFW National Home for Children was founded in 1925 in

Eaton Rapids, MI as a place where families left behind by war

could remain together, keeping the family circle intact even when

their servicemen didn’t come home.

Today’s military and veteran families face different challenges-

reintegration, post-traumatic stress, high unemployment and

rehabilitation from battlefield injuries, among others and the

National Home has evolved over our decades-long history to meet

those changing needs.

In addition, it is understood that the impacts of war can be

generational. The National Home helps veteran connected families,

as well as those who are directly related to a VFW or Auxiliary

member or are eligible, to become one.

The VFW Camp Trotter is a Children’s Camp located 7 miles East

of Newaygo on M-82. The camp sits on the shores of one of West

Michigan’s beautiful and picturesque lakes. It is owned and

operated by the Department of Michigan, Veteran of Foreign

Affairs of the United States. The camp is fully licensed and insured

with the State of Michigan.

Camp Trotter exists primarily for children of veterans but is not

limited thereto; it offers five weeks of camping to children aged

seven to twelve years old from all over the United States. The camp

includes summer activities on site including swimming, boating,

hiking, arts and crafts, archery, softball, volleyball, as well as

campfire activities. The children are given a general knowledge of

science, art, and nature, and taught patriotism, courage, self-

reliance and kindred virtues.

Agencies Increase Residential Appraisal Threshold

On September 27, 2019, the Office of the Comptroller of the

Currency, the Board of Governors of the Federal Reserve System,

and the Federal Deposit Insurance Corporation (collectively “the

Agencies”) adopted a final rule increasing the threshold for

requiring an appraisal in residential real estate transactions from

$250,000 to $400,000. Federally related transactions under

$400,000 will require an evaluation, rather than a full appraisal, to

determine value of the real estate in question.

A federally related transaction is a non-Fannie Mae or Freddie

Mac transaction and a non-federal financed transaction, such as

loans under the Federal Housing Administration, the Rural Housing

Service or the Department of Veterans Affairs.

“Do Not Show/Publish” Realcomp Policy

All listings in the MLS must be available to show. If a new

listing has a delay in showings, the listing is handled as a “Do Not

Publish” listing. The profile form and the “Listing will not appear

in the MLS” form, signed by the seller stating when showings will

begin, must be submitted to the MLS.

If showings are not allowed for a period of time during the

period of the listing, the listing must be Conditionally Withdrawn

until showings begin again. A Conditionally Withdrawn listing is

still under contract with specific conditions but not currently being

marketed and will expire on the expiration date of the contract.

With today’s market becoming more and more competitive,

“Do Not Publish” (aka “Coming Soon”) listings have become a

regular topic of discussion at the MLS. To help better understand

these listings as they relate to your Rules and Policies and

Realtor® Code of Ethics. FAQs and NAR resources for you:

Q: What is a “Coming Soon” Listing?

A: In our market, it seems “coming soon” listings are either

properties that have been listed and are not yet available for

showing and/or purchase for a specific period of time or they are

properties that have not yet been listed.

Q: Doesn’t Realcomp require that all Michigan properties

listed by a Realcomp REALTOR® be submitted to the MLS

within 48 hours of all necessary signatures being obtained?

A: Yes. If the listing is not submitted to Realcomp within the

48-hour timeframe, any one of the following fines may be assessed

to the Listing Agent:

• Late listing starts at $37.50 & goes up to $500 plus an

appearance before the MLS User Committee

• Failure to submit a Listing Profile form $75

• Failure to submit a Do not Publish $25

Q: What if a Realcomp Subscriber takes a “Coming Soon”

listing? Are they required to submit it to Realcomp and make

it available for showings/offers?

A: Technically, “yes”, however, if the property can’t be shown

(i.e. homeowner signs the “Listing Will Not Appear in the MLS”

form), it can’t appear in the MLS. It must be conditionally

withdrawn from the MLS. If the listing is never submitted to the

MLS in the first place, Realcomp still requires a copy of the listing

and the seller signed instructions, which keep the listing agent

from being fined.

Q: What if a Realcomp user decides to market a property

(outside the MLS) without a listing contract?

A: Without a listing contract, there is “no listing” – they have no

Exclusive Right to Sell the property. Additionally, the property is

fair game for solicitations from the Realtor® community.

Proposed MLS Policy To Fuel Cooperation

Page 14

Visit the NOCBOR Realtor® Store Today!

We have all of your Realtor®

needs!

From riders and

lock boxes

to Guest Books,

signs and more!

We have it all at NOCBOR!

The National Association of Realtors® (NAR) is

considering a change in the association's MLS policy aimed

at creating greater cooperation between brokerages within

MLSs. The “Clear Cooperation Policy” proposal is

straightforward: Brokers who are MLS participants must share

listings with other brokers in the MLS if those listings are being

publicly marketed. NAR is seeking member feedback on the

policy before the association's Multiple Listing Issues and

Policies Committee addresses it at the Realtors® Conference &

Expo in San Francisco this November 6-10, 2019.

In the absence of explicit guidelines surrounding some

limited-exposure practices and “coming soon” listings, the NAR

had received requests from MLSs and broker members across

the country seeking clarity. The association’s MLS Technology

and Emerging Issues Advisory Board, a group made up

of brokers and MLS executives, developed the proposal in

consultation with brokerage and MLS leaders across the country.

The thesis of the advisory board's proposal is that when the

benefits of broad listing exposure are in the best interest of

clients, so is cooperation among MLS participants to share the

listings. Creativity and competition fuel real estate innovation,

and while the proposed rule doesn’t seek to restrict that, there is

a need to codify the responsibilities that real estate licensees

have undertaken through their commitments to license duties, a

Code of Ethics, cooperation, and most importantly, the

consumers they’ve contracted with to provide professional

services.

Proposal Addresses Privacy Concerns: Though the policy

change would require brokers to share publicly marketed listings

with the MLS, these listings are not required to be advertised in

the MLS’s IDX feed or any public syndication sites. They

simply must be available in the MLS so that other participant

brokers have access to them and can bring potential buyers to the

listing broker for cooperation.

Even clients whose circumstances override the benefits of

increased exposure, such as celebrity status or difficult life

situations, can be accommodated within the proposed policy’s

guidelines. If the client has privacy concerns, office-exclusive

listings are an option within the proposal. These listings are

shared between brokers and agents within a single brokerage and

their clients. But if the listing is marketed to the public in any

way, the need for an exclusion based on privacy is removed,

according to the proposal. The listing then must be shared with

other broker participants in the MLS within 24 hours.

You Can Still Tease a Listing: “Coming soon” has become

a popular marketing tactic for sellers whose properties aren’t

truly ready to be shown. It can help build anticipation for a new

listing before showings are available. These listings can also be

accommodated in the Clear Cooperation Policy.

If a “coming soon” listing is advertised publicly, it also must

be shared with the MLS’s participants for cooperation. MLSs

can employ rules allowing a broker to list a property within the

MLS and have a time period where showings are restricted until

the property is ready to become “active.” Whether this is an

official “coming soon” status in the MLS or a set of policies

defining options for this restricted showing period, the “coming

soon” tactic can be employed while simultaneously reinforcing

the responsibilities of participants to one another and consumers.

‘Private Listing Networks’: The proposal says listings

shared outside the listing brokerage are, by definition, not office

exclusives. While these listings may be omitted from internet

advertising such as IDX, VOW, and public syndication sites, the

sharing of the listing outside the brokerage exposes the listing to

a broader audience than is intended in an office-exclusive policy.

If the broker is an MLS participant, these listings must be shared

with the MLS for cooperation within the MLS.

Reinforcing the responsibilities of MLS participants

strengthens the value that real estate professionals can deliver to

consumers daily. In the current legal and regulatory

environment, codifying a greater commitment to the consumer

benefit of cooperation is both strategic and necessary. NAR will

continue to release information about the policy and engage in

conversation with industry participants as to the policy’s effects

and potential implementation questions.

Page 15

NAR Applauds House Vote

National Association of Realtors® President John Smaby

issued the following statement after the House of Representatives

today passed the Secure and Fair Enforcement Banking Act. The

bill was approved by a vote of 321-103.

“NAR thanks the House of Representatives for its

overwhelming, bipartisan support of the SAFE Act,” said Smaby, a

second-generation Realtor® from Edina, Minnesota. “As nearly

two thirds of all U.S. states have legalized cannabis for medical or

recreational use, it is apparent that the legal state-cannabis

industry’s connection to other markets – including real estate – will

continue to grow in the coming years.

“With current laws keeping the industry’s money out of

America’s banking system, our nation is jeopardizing economic

growth while forfeiting critical opportunities for oversight and

transparency. Realtors® sent a letter to House members urging

passage of H.R. 1595, and we are pleased to see this commonsense

legislation advance to the Senate for consideration.”

Do You Have Insurance?

Joining the Realtors® Political Action Committee (RPAC) is

the best way a Realtor® can protect their real estate profession.

RPAC is the only grassroots and issues mobilizing force that exists

to protect and promote the tradition of home ownership, private

property rights and real estate investments in Michigan.

NOCBOR members, who financially contribute to RPAC

support legislators, believe in protecting private property rights,

preserving the American dream of home ownership, fighting for

tax reforms and reducing burdensome regulation on your business.

By becoming a member of this distinguished group, you’ll not only

have the power to make a change in the way you do business, but

you’ll also become part of a statewide network, sharing in the

success on issues and concerns important to your profession.

RPAC is the real estate industry’s insurance to promote and

protect your profession. The benefits are tremendous and last

forever! Your “fair share” contribution of $50 is more important

than you realize. Whether it’s fighting the proposed state sales tax

on your commissions, fighting burdensome regulations or

promoting Realtor® friendly legislation, your involvement in

RPAC will link you with like-minded Realtors®. Have you paid

your professional insurance this year?

You still have time. Contact 248-674-4080 to join the RPAC

movement!

North Oakland County Board of REALTORS® 4400 W. Walton Blvd. | Waterford, MI 48329 | www.nocbor.com

NOCBOR ANNUAL LUNCHEON

Friday, January 24, 2020

12 p.m.

Pine Knob Mansion 5580 Waldon Rd.

Clarkston, MI 48348

RSVP by January 16, 2020