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Download the May 2018 FAARside Newsletter
Your copy of the May Newsletter, the FAARside is here! Crack open a copy to learn all about the most recent projects at the Association, a sneak peak of the expo, and more!
This edition includes
- New Member Welcome
- A special gift from the Fredericksburg Area Museum
- An update on DPOR credit status
- General Assembly Session wrap-up
- 2019 Board of Directors Candidate Application
- REALTOR Code of Ethics Campaign Overview — Are you living up to the promise?
- Member Monday Features —Recognize these REALTORS®?
- Affiliate Marketing Partners
and more!
Right click here or the image and click “Save as” to download
#MemberMonday | Meet Sandi Hamill
The Fredericksburg Area Association of REALTORS® Member Spotlight feature allows members of the community to get to know each other before working with each other in a transaction. Each member answers a series of questions to reveal more about themselves as people. It is FAAR’s hope that learning about an individual may spark connections that blossom via email, phone conversations or in-person meetings at events and classes.
Name
Sandra Hamill
Hometown
Florence, OR
Current Location
Fredericksburg
Title
REALTOR® at Nest Realty Group
Number of Years in the Industry
almost 7
Why do you love working in real estate?
The joy that someone feels when they get a home especially a first time buyer is beyond compare, I know I remember my first home. Helping people get to that goal no matter what the circumstance is what keeps me going every day.
Favorite Work Story
Actually it is a FAAR Meetup story. I have developed somewhat of a reputation with my gifts to clients and at gift exchanges at the Christmas Meetup- I love Glitter. I remember one year everyone was fighting or my gift, cause it had fabulous truffles in it, and in the end they were all covered in glitter if they touched the box or ribbon. Barry Moore said he had glitter in places it should never be for days!!
What are you most proud of in your career?
I am most proud of being able to help young people realize the goal of getting their credit right and being able to buy a house. No transaction is too small if it makes someone happy. Especially when they thought they could never achieve the dream of owning a home.
Do you have a special cause or volunteer your time?
I love going to Habitat Events. I have worked the Women’s Build and other things throughout my years here. My favorite cause though to donate to attend events for is Domestic Violence. I have worked to end this for 20 yrs.
Fun Fact
As a member of Toastmasters a few years ago I won so many trophies my husband thought he was going to have build a seperate room for them. I guess it pays to get a BS in BS!!!
FAAR Holds Annual Awards and Fundraising Event
Fredericksburg, VA—(April 25, 2018) The Fredericksburg Area Association of REALTORS® (FAAR) held its annual Awards Gala on April 18, 2018 at Stevenson Ridge. Approximately 150 members were in attendance for the festivities, which included an awards ceremony and fundraiser.
Proceeds from the fundraiser benefitted the Fredericksburg REALTORS® Foundation, whose efforts go to support local non-profit organizations that help individuals and families secure and retain shelter. Thanks to donations from FAAR’s REALTOR® and affiliate members, the Foundation was able to raise over $800.
In addition to the Foundation fundraiser, awards were handed out for Rookie Salesperson of the Year, Manager of the Year, REALTORS® Choice, REALTOR® of the Year, Educator of the Year, and Melanie Thompson Award. In addition, 28 members were recognized for achieving the Professional Honor Role for 2017. The Honor “Role” award spotlights members who have made contributions to the real estate industry, the Association, and the community.
The following individuals received awards for 2017:
REALTOR® of the Year
Linda Fosdick, Dockside Realty
Rookie Sales Person of the Year
Ruth Campbell, 1st Choice Better Homes and Land
Manager of the Year
Kevin McGrath, Long & Foster
REALTORS® Choice
Clay Murray, Coldwell Banker Elite
Educator of the Year
Michele Freemyers, Ekko Title
Melanie Thompson Award
Clay Murray, Coldwell Banker Elite
2017 Professional Honor “Role”
Tricia Barnes, ABR, GRI, CRB, ABRM
1st Choice Better Homes & Land
Milton Branch, GRI
1st Choice Better Homes & Land
Suzanne Brady, ABR, SRS
Century 21 Redwood
Jennifer Caison
Coldwell Banker Elite- Massaponax
Jennifer Church, ABR, SRS
Holt for Homes
Carrie Danko
1st Choice Better Homes & Land
Valerie Dellandre, SRS
Virginia C.U. Realty
Linda Fosdick, CRS, GRI, ABR, SRS
Dockside Realty
Drew Fristoe, ABR
Coldwell Banker Elite- Massaponax
Janet Holt
Holt for Homes
Natalie Holt
Century 21 New Millennium- Fredericksburg
Linda Laub-Canty, ABR, GRI, CRS, SRES
1st Choice Better Homes & Land
Cindy LeBrun, ABR, CRS, SRS, SRES
Exit Realty Expertise
Lynn Lenahan, ABR, GRI
1st Choice Better Homes & Land
Erin Lewis
Nest Realty Group
Andrea Maitland, CRB, CRS, GRI
Century 21 Redwood- Spotsylvania
Brooke Miller, GRI, CRS
Long & Foster- Fredericksburg
Sandy Pearce, ABR, SRES, PMN
Coldwell Banker Elite- Spots.
Bonnie Ramey, GRI
Nest Realty Group
Mary Beth Rich, ABR
Century 21 New Millennium- Fredericksburg
Anthony “Tony” Shade, ABR
RE/MAX Allegiance
Sharon Shade, ABR, ABRM
RE/MAX Allegiance
Christine Singhass
United Real Estate Premier
Sarah Stelmok, GRI
Nest Realty Group
Chip Taylor
Long & Foster- Fredericksburg
Penny Traber, ABR, GRI, CRS, SRS
1st Choice Better Homes & Land
Ginny Vickers, ABR, SRS
1st Choice Better Homes & Land
Sha Williams- Hinnant, ABR, CRS, GRI, CIPS, PMN, SRES
1st Choice Better Homes & Land
Ethics Training FAQ
REALTOR® Ethics
REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time within two-year cycles.
What is the goal of this requirement?
Mandatory ethics training requirements for new and continuing REALTOR® members was established by the National Association’s Board of Directors at the 1999 Annual Convention with the following goals:
- to heighten member awareness of the key tenets of the Code of Ethics;
- to create an awareness of and appreciation for the role the Code can and should play in their professional lives;
- to enhance professionalism and competency; and
- to encourage REALTORS® to view their Code of Ethics as a living, viable guide in their daily dealings with clients, customers, and the public.
Am I in compliance? Here’s how to check.
Check your ethics date by logging in to your account at faarmembers.com/myaccount and look for the two fields called “Code of Ethics Cycle End Date” and “Current Code of Ethics Cycle Complete”. The first field will tell you the last day of the current cycle and the second field will display “yes” if you have completed the training within the listed cycle and “no” if you have not completed the training.
Where can I take Ethics courses?
An NAR-approved ethics course can be taken online or in the FAAR classroom—If taken online, please forward your completed class certificate to Membership Services Director, Lori at lhillardwehr@faarmembers.com. Ethics in the classroom is held every other month as part of the CE/PL seminars and also at the beginning of those months in conjunction with new member orientation (not advertised).
NOTE: DPOR, the state licensing board, does not require any specific ethics for an agent to renew their license. NAR and FAAR require the NAR code of ethics which is a specific ethics training geared towards Realtors®. Please check when selecting an ethics class that it includes the NAR code of ethics and when you get your certificate after completing the class, forward it to FAAR so that your record can be updated.
This short article describes what happens to your membership when your ethics date is out of compliance.
Register for FAAR classes including Ethics at faarmembers.com/calendar
The REALTOR® Code of Ethics promises exemplary conduct. Are you living up to the promise?
There is an ongoing discussion about what is professionalism.
For those in business, it refers to common courtesies extended to one another. Most commonly known as the Golden Rule. Business courtesies also apply to REALTORS® and National Association of REALTORS® (NAR) specifically outlines those courtesies in Pathways to Professionalism.
REALTORS® are expected to reach even higher in their real estate transactional business. That higher reach is the Code of Ethics. NAR spells out those expectations in the 17 Articles of the Code of Ethics and provides the practical meaning of each Article in the accompanying Standards of Practice.
The Professional Standards and Grievance Committees who implement FAAR processes for professional behavior and a group of brokers met to discuss declining professionalism. Everyone agreed that there is an alarming trend of ignoring the Code of Ethics, as well as, the courtesies listed in Pathways to Professionalism. While no one believes that many FAAR members are intentionally ignoring the rule, everyone agreed that many agents are just not aware of crossing the line to unprofessional behavior.
Virginia licensing regulations include best business practices. Licensing renewal classes provide updates every two years. NAR requires training on the Code of Ethics very two years.
Despite the mandatory updates, why is professionalism declining? The group agreed that haste and ignorance were the top two reasons. Who is to blame? Is it brokers who provides little supervision of their agents? Is it demanding clients, misinformed customers? Is it the agent population looking to cut corners? The answer is yes, yes and yes. All contribute to the downturn in professionalism.
The leadership of FAAR believes the association can play a part in improving professionalism by creating awareness to the Code of Ethics and Pathways to Professionalism.
In an effort to raise the awareness of both, FAAR is launching a year-long campaign to educate the members on what they may have forgotten, never knew or just are not connecting the rules to everyday situations.
The campaign includes a review of each Article along with its Standard(s) of Practice. Those well versed on the Code, will pen articles providing the meaning of each and the potential violation.
The main aggregator of information for the campaign is faarmembers.com but information will also be pushed out in emails, social media posts, the FAARSide newsletter and several videos. Brokers will receive the information to use in sales meetings. Open discussion classes will play out unprofessional scenarios.
The campaign is called-
The REALTOR® Code of Ethics promises exemplary conduct. Are you living the promise?
Let’s get started. The first article is about the annual professional standards services provided by FAAR. Links will take you to specific documents. The second article is by Professional Standards Committee Vice Chair, Lynn Lenahan who will comment on the level of service REALTORS® should provide to each other as outlined in the usefulness of Pathways to Professionalism.
What’s coming up next? – The introduction to the Code of Ethics, why it is call the Gift of Vision, the message in the Preamble and a discussion on Article 1 and the related Standards of Practice.
For 25 weeks a new topic will be introduced. Here is the tentative schedule
Schedule- April through November
1 Introductory article with overview on campaign and video by Lynn Lenahan & Alicia Angstadt
2 “Fee to File an ethics complaint? No!” by Pat Breme
3 Pathways to Professionalism article by Lynn Lenahan and introduce NAR Video Series
4 Video Series continues- “Respect for the Public” & “Respect for Property”
5 “Respect for Peers” & “Conclusion”
6 Code of Ethics: A Gift of Vision, Preamble & a Quiz on the Code
7 Code by Article/Standard of Practice/a Case interpretation by contributing author starting with Article 1
8 Article 2
9 Article 3
10 Article 4,5
11 Articles 6, 7
12 Articles 8, 9
13 Article 10
14 Article 11
15 Article 12
16 Articles 13, 14
17 Article 15
18 Article 16
19 Article 17
20 “What happens in an ethics hearing?” by Lynn Lenahan
21 “Why Mediate” by Alex Long
22 “Why is an Ombudsman program helpful diffusing disagreements in a transaction?” – by Elsa Rake
23 Citation program and link to FAAR brochure
24 Forms for Filing and link to faarmembers.com/forms
25 NAR’s new Code of Excellence program- when it launches
_________________________________________
Distribution Channels
FAARside articles
Email Updates
Social media posts
Videos #1 Introduce campaign-
Classes (2)- Topic TBD
Signage at FAAR and offices- logo/slogan
Resource pages:
Pathways to Professionalism- realtor.org
2018 Code of Ethics- realtor.org
Case interpretations- realtor.org
Forms- faarmembers.com/forms
Citation program- faarmembers.com
Ombudsman program- faarmembers.com
Arbitration Guidelines- realtor.org
Mediation- realtor.org
VR Legal Hotline- varealtors.com
FAAR Announces Endorsements for 2018 City of Fredericksburg Elections
The Fredericksburg Area Association of REALTORS® announces endorsements Fredericksburg City Council races on the ballot for the May 1st general election.
“Regardless of whether you live or work in the City of Fredericksburg, a vibrant downtown benefits us all throughout the region, serving as a hub of economic, cultural, and academic opportunities,” states FAAR Public Policy Committee Chair Robert Cooper. “The Committee conducted interviews with all of the endorsed candidates and was impressed by their dedication to the job and depth of knowledge regarding issues of concern to the real estate industry. In addition, the Committee appreciated their commitment to keep the City growing with a strong focus on economic development, expanded amenities for residents and visitors alike, and increased housing options for prospective buyers in all income brackets. We look forward to working with the City Council to make Fredericksburg the best place it can be.”
FAAR has endorsed the following candidates running for office in the City of Fredericksburg:
Brad Ellis, Ward 1
Billy Withers, Ward 2
Tim Duffy, Ward 3
Need information on voting? Click here to visit the City’s Voter Registrar website.
2018 Community Service Day Waiver
2018 Community Service Day Waiver
I understand that this event is being done on a voluntary basis through the Fredericksburg Area Association of Realtors® (FAAR) and in partnership with the 516 Project, Inc. I hereby acknowledge that working on the 516 Project, Inc. home repair program involves some risk of personal injury and/or death. I hereby acknowledge that FAAR and 516 Project, Inc. has made no representations about the conditions of the premises on which I will be working or the activities in which I choose to engage. I hereby release and hold harmless FAAR and 516 Project, Inc., its officers and directors and others working on this project, including the homeowners where I will volunteer, from any and all liability which might result from my working on this project. I hereby acknowledge that I assume the risk of any injury which might occur as the result of working on this project. This also includes the transportation to and from the assigned work location. I hereby acknowledge that my photo / video may be taken during activities involved with my volunteer work with FAAR and 516 Project, Inc. I understand and allow these images / videos be used by FAAR and/or the 516 Project, Inc. in print and/or digital media at the discretion of both organizations.
March Real Estate Market Brings More Gains
Despite cold weather, ice, and snow, buyers and sellers got together in the month of March to produce year-over-year increases in total sold dollar volume, median sold price, and units sold, further contributing to the decline in days on market. Total sold dollar volume increased over 7% to nearly $150 million fueled by a median price of $299,500, representing a nearly 7% increase over March of 2017. Units sold remained fairly static at 474 compared to 466 last March, a 1.72% year-over-year increase.
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract, fell nearly 12% with houses averaging 68 days on the market in March of 2018 compared to 77 days in March of 2017. Days on market varies widely across the Fredericksburg region with a high of 109 days in King George County to a low of 56 in Stafford County for the month of March.
Active listings posted a more than 10% drop from March of 2017, with 1,310 active listings for March 2018 compared to 1,466 last year. New listings also saw a small year-over-year decrease with 966 new properties coming available in March 2018 compared to 1,007 in 2017, representing a 4% decrease. The market is currently running at a 2.6-month supply. Months of supply is the measure of how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales. A 5-month supply of homes is considered a healthy market, offering opportunities for a range of prospective buyers. The market is currently seeing the lowest months of supply levels in over 10 years. The supply peaked in 2008 with a 12-month supply of homes in June of 2008.
“The spring market has started strong,” states FAAR Board Member Drew Fristoe. “Buyers and sellers who have been waiting have decided to start the buying or selling process. The slightly higher interest rates are helping to get buyers to move. This spring looks to be a good one. ”
#MemberMonday | Meet Mark Forror
The Fredericksburg Area Association of REALTORS® Member Spotlight feature allows members of the community to get to know each other before working with each other in a transaction. Each member answers a series of questions to reveal more about themselves as people. It is FAAR’s hope that learning about an individual may spark connections that blossom via email, phone conversations or in-person meetings at events and classes.
Name
Mark Forror
Hometown
Bay Village, OH
Current Location
Fredericksburg, VA
Title
Associate Broker with Exit Elite Realty
Number of Years in the Industry
14
Why do you love working in real estate?
I like to help people who have not been afforded the opportunity to buy a home to own their own home.
Favorite Work Story
I once showed a house that, unbeknownst to me, had two killer attack dogs inside. I heard something moving around inside, so I cracked the door about four inches. A Doberman attack dog fit its head through the crack and nearly bit my nose off.
What are you most proud of in your career?
I have been able to prevent several slumlords from operating in Fredericksburg, with the help of Fredericksburg City government. I also stopped a real estate pricing scam in the City of Fredericksburg.
Do you have a special cause or volunteer your time?
Fredericksburg Food Bank
Peace Corps of the United States Memorial Project
Fun Fact
I was a screenwriter in Hollywood for nearly a decade.
I once flew an aerobatic routine in a TF-51D Mustang fighter plane—the only time in my life I ever wore a parachute!
Byron Smith, SR. Esq., CCIM, CRB, is back with a class on Commercial Leasing
Byron is BACK! Join us as we welcome Byron Smith, SR. Esq., CCIM, CRB back to the FAAR Academy classroom for the FIRST EVER Commercial Leasing class created specifically with FAAR Member’s needs in mind. This is a RARE opportunity to spend 8 hours with a seasoned professional covering commercial leasing.
Topics covered include: Requirements of a lease, types of leases, measuring rentable/usable space. Also covered are the differences between gross, modified gross and absolute net leases. Byron will explain in detail the various lease clauses and how they impact cash flow. Class exercises will include the 6 factors needed to be examined when analyzing value of leases and subleases.
This is the perfect class to gain the fundamental skills needed when representing both the landlord or the tenant in a commercial transaction!
This unique class will be available around the state later in the year for $199 and up- but FAAR members have the opportunity to attend May 31 for just $149. Price includes 8 hours of CE- RE Related and lunch.
Only 50 seats will be available, act quickly!
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