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Excel in the Virginia Leadership Academy
Influence. Innovate. Connect.
The state association, Virginia REALTORS®, is encouraging members who want to build their leadership skills to apply for a slot in the 2019 Virginia Leadership Academy (VLA) program.
It is composed of four retreats from February through September 2019. FAAR boasts of many graduates of VLA- Suzanne Brady, Sherry Bailey, Chip Taylor, Sarah Stelmok, Drew Fristoe, Arlene Mason and many more.
Two, $1000 scholarship are available to FAAR members to defray the cost of the program. A member may request FAAR funding after their acceptance into the program. The VR application deadline is June 29, 2018. Call Pat Breme for more information, pbreme@faarmembers.com.
Interested members should complete the application by Friday, June 29, 2018. Applications must be completed in their entirety to be considered. Tuition is $1,750; limited financial aid is available.
June 29, 2018 All applications due
July-September 2018 Application Review/Selection Process
October 2018 Applicant Notification & Billing
February 5, 2019 Retreat 1- Orientation (Richmond)
April 9-11, 2019 Retreat 2- (Richmond)
July 16-18, 2019 Retreat 3- (Northern Virginia)
September 17-19, 2019 Retreat 4 and Graduation- (Annual Convention in Williamsburg)
For any questions, please contact Cailin Richardson or Lili Paulk.
The Virginia Leadership Academy will prepare emerging REALTOR® leaders from all around the Commonwealth to excel at the local and state associations and to become model REALTOR® experts in the field. Participants will build their leadership skills through a series of retreats and a major class project.
Sentrilock 3-year Locksmith Agreement Ending
The 2016 contract FAAR signed with Sentrilock stated that locksmith fees, caused by faulty lockboxes, would be paid by Sentrilock for the first three years of box ownership. The three year coverage begins when the box is purchased/leased (even from another association), which may be before the March 2016 conversion date. The coverages end for most FAAR members March of next year. However, for those who have transferred from other associations, that coverage may be ending sooner depending on when they purchased their Sentrilock boxes.
Claim your free Placester site
Fredericksburg Area Association of REALTORS® is proud to share that all Realtors have access to a free Placester IDX website through the NAR Realtor Benefits Program!
Your free website includes a mobile-ready design, IDX listing integration, custom domain mapping, editable “About” and “Testimonial” pages, mortgage calculator widget, and social media icons to highlight your social profiles.
In addition to the free website, Fredericksburg Area Association of REALTORS® has partnered with Placester to provide you access to a vast library of educational resources, webinars and podcasts about how to brand yourself online and grow your business.
Please visit https://learn.placester.com/fredericksburg-area-association-realtors/ to claim your FREE site today. Participation is completely optional.
We hope you enjoy this member benefit!
I aspire to be like Chick-fil-A
by C. Lynn Lenahan, Associate Broker
1st Choice Better Homes and Land, LLC
Hey everyone, it’s Lynn Lenahan, Assoc. Broker/REALTOR® of 1st Choice Better Homes & Land. I am honored to also vice-chair the 2018 Professional Standards Committee.
I am very passionate about Professionalism and what it means for us as REALTORS®. I’m so passionate, it put me in the hot seat to write a brief article on Professionalism. Wow, to me that’s like saying, write a brief about the United States. Really?? Professionalism…brief… the word brief and Professionalism shouldn’t EVEN be allowed in the same sentence.
Ok, where to start…
For a topic so broad, I thought, get to the basics Lynn…definition. The dictionary (on line) should cut to the chase. So…according to Oxford Dictionaries, “Professionalism is the competence or skill expected of a professional.”
I really wish they hadn’t used “professional” in the definition of professionalism, it kind of defeats the purpose to me. Ok, let’s see if we can make it more specific to real estate and see what might jump out.
Re-Phrase: A REALTOR® is a professional who is expected to be competent and skilled at their craft. Boom! Hmmmmmm…. Expected. Ah—ha! That’s the key word, expected. It isn’t hoped or wished, it’s expected. It is EXPECTED of us to be competent and skilled.
So, we have the Code of Ethics which is a clear guide of do’s and don’ts. I think you’d agree, it’s very clear and concrete. That’s not saying some of the scenarios we find ourselves in don’t get us unintentionally tangled up.
But what is expected of us is clear.
We will often hear, above all else, follow “The Golden Rule”. Treat others the way you want to be treated. If you follow the Golden Rule, you can’t lose. Professionalism definitely includes the Golden Rule.
But…Professionalism also includes the Code of Ethics and highlighted in that is respect. That’s right, R-E-S-P-E-C-T…or the public, property, and peers. It’s paramount. Again, stay with me. Let’s put this all together and step out of the box for an example.
Consider with me a very successful and relevant business model: Chic Fil A. No, I’m not off my rocker. Come on…admit it. Wouldn’t you agree: Chic Fil A’s got it going on! They are somehow able to be closed on Sundays, and still, the consumer is loyal and supportive…returning with business time and time again.
What? With all the restaurants out there, closed Sundays yet a smashing success! When I consider my own personal experience, I can say the following: I can count on them, I always know what to expect, they don’t disappoint. I know when they will be there and when they will not. Their stores are clean and tidy, the associates always ask how they can serve me.
My order is accurate and consistent. They say to me it was a pleasure serving me. They are confident; they are accommodating to special requests and needs. They are timely. On the rare occasion they are delayed, be it because of me or someone else (usually me), I am sure to receive a gift card in appreciation of my wait.
They are kind to each other. They work together like a well-oiled machine, looking to make my time with them as special as possible. This model embodies a thoroughly thought out process, a model and people working that model who are confident in their craft and skilled from start to finish. It’s a perfect working example of Professionalism. E…VER…Y…TIME.
I know, we are Real-Estate-Long-Major-Life-Decision not Chic-Fil-A-Fast-Food. Either way though, isn’t it still all about the art of being Professional? Professionalism…one who is expected to be competent and skilled at their craft, with all that it embodies.
Food for thought (no pun intended but it happened and I like it so, yes, intended). Pathways to Professionalism https://faarmembers.wpengine.com/wp-content/uploads/2017/05/Pathways-to-Professionalism.pdf. Bookmark it. Follow it. Embrace it. Good things are sure to happen on the flip side!
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!!!
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
Fee to file an Ethics Complaint? No!
by Pat Breme, RCE, CIPS
Chief Executive Officer
Let me start off by dispelling a misconception regarding filing an ethics complaint with FAAR. THERE IS NO FEE, however, members must complete a form, attach a narrative detailing the situation and file within 180 days of the occurrence or knowledge of the occurrence. Additionally, there is no fee if the complaint is processed through the Citation System. The mediation process has no fee.
There are, however, fees for the following-
- A $250 Processing Fee is imposed on a member who is found in violation of an Article of the Code.
- A Broker who requests an arbitration and the responding broker are levied a $350 Filing Fee. The party who prevails is refunded the Filing Fee.
- Appealing an Ethics Hearing Decision- $250
- Requesting a Procedural Review- $250
- Dispute Resolution Fee- $250 from the primary parties
The fees are not a revenue source to FAAR, but covers staff time involved in the administration of each service- scheduling and attendance at meetings, paperwork, research/procedure compliance, communications, etc.
What happened to the golden rule?
Pathways to Professionalism- Do unto others…
Created by the National Association of REALTORS®, Pathways to Professionalism, is a useful, common sense guide to simple courtesy. For example,
– Never allow buyers to enter listed property unaccompanied.
– Respond to other agents’ calls, faxes, and e-mails promptly and courteously.
The Law of the REALTOR® world… The Code of Ethics
The Code of Ethics is a REALTOR’S® compass for professional behavior. It is composed of 17 Articles covering duties to clients and customers, the public and to REALTORS®. The Code goes beyond common sense niceties to what REALTORS® pledge to abide by in their business activities. For REALTORS® it is the law!
The short sale/foreclosure market has spawned many transaction difficulties, odd scenarios, and stress. The Code has been twisted, misinterpreted and in some cases, ignored altogether.
Observing unprofessional behavior…
Filing an ethics complaint- Is it really snitching?
Some describe filing an ethics complaint as ratting out, snitching, and view the whole process as unsavory. For the Complainant, time is spent on writing a narrative, citing Articles and gathering information. From the Respondent’s point of view, time is spent on gathering documents to defend his or her motives and actions.
When a complaint is sent to FAAR, a Grievance Committee meeting is convened to examine the complaint to see if it has been properly filed. They do not review the information from the Respondent. The Grievance Committee bases its decision on the facts of the complaint and the final question they ask themselves is, “If the facts alleged in the complaint were taken as true on their face, is it possible that a violation of the Code of Ethics occurred?”
In most cases the complaint is moved on to a hearing because the answer is usually, yes. Why doesn’t the Grievance Committee look at the Respondent’s view of the situation? When a group has both sides presented it is too easy to draw conclusions and determine outcomes. That is not the role of the Grievance Committee. It acts like a Grand Jury and only looks at the complaint’s viability. It can also dismiss a complaint.
The Citation System
With the adoption of the Citation System, the Grievance Committee may decide a complaint fits the criteria and ask the Respondent whether he or she wants the issue to proceed to a hearing or, without admitting guilt, pay a fine and/or attend mandatory education for the alleged violation. The program only covers certain Articles of the Code- 1, 3, 4, 5, 6, 9, 12, 14, 16. The fines range from $150 to $950.
Complaints coming from other participating Associations- PWAR, DAAR, NVAR, BRAR and GPAAR, will be treated in the same way as outlined. Is it like getting a traffic ticket? Yes. The Respondent accepting the fine avoids an uncomfortable and often times a consuming hearing process. The Complainant still believes justice has been served by drawing attention to unprofessional behavior.
https://faarmembers.wpengine.com/wp-content/uploads/2017/05/Citation-Brochure-2017.pdf
The Ombudsman Program
The Ombudsman Program in its simplest definition is informal telephone mediation. In some cases it can address and solve minor complaints from the public. The ombudsman can also solve inter-REALTOR® conflicts before they become serious problems. Some complaints do not allege specific articles of the NAR Code of Ethics and many times they are transactional, technical and procedural questions that can be addressed by communication. Like a mediator, an ombudsman helps parties find solutions that everyone can be happy with.
Where’s my commission?
Another service the REALTOR® Association offers is arbitration of contractual disputes. Most often disputes are over commissions- who was the procuring cause of the sale? This is a broker-to-broker issue but the agents who are party to the transaction are involved and usually present at the hearing. There are no cookie cutter answers to an arbitration involving procuring cause. The answer to “who did the work” question is colored by many things, such as, client behavior, lapses in service, lack of communication between all parties, etc. Some disagreements can be resolved and the formal process averted if brokers are willing to agree to a resolution.
Mediation, a reasonable compromise
FAAR offers mediation to the parties after the Grievance Working Group has determined an issue is an arbitral matter or has determined that an ethics complaint needs to advance to a hearing. Both parties must agree to come to the table to try to resolve the matter. If mediation fails or one party declines the offer to mediate, the case moves on to the hearing process.
The hearing
Due process is the goal of the hearing because both sides have an opportunity to present their case, call their witnesses, and cross-examine. Only after both the Complainant and Respondent have their say does a panel of peers decide whether a violation has occurred. It is a fair process and much is disclosed during the process. The truth usually rises to the surface. If an agent is found in violation the panel serves a disciplinary action ranges from taking a class on a particular subject to expulsion from the Association.
The Association cannot take a license away, that is the responsibility of the Virginia Real Estate Board, who by the way, has its own complaint process independent of whatever action the Association takes.
Broker to broker problem solving
Often unprofessional activities or commission disputes are resolved if brokers take it upon themselves to communicate with each other. Often problems don’t have to become formal complaint requests for arbitration or worse, not addressed at all, if brokers step in and resolve issues.
Ignoring the problems
Unprofessional behavior ultimately harms everyone in the business. The public, who may be a victim is observing the behavior and forming negative opinions about REALTORS® in general.
If warranted use the professional standards services of the Association but always be mindful of the standards REALTORS® pledge themselves to observe.
I PLEDGE MYSELF
TO PROTECT THE INDIVIDUAL RIGHT OF REAL ESTATE OWNERSHIP
AND TO WIDEN THE OPPORTUNITY TO ENJOY IT;
TO BE HONORABLE AND HONEST IN ALL DEALINGS;
TO SEEK TO BETTER REPRESENT MY CLIENTS
BY BUILDING MY KNOWLEDGE AND COMPETENCE;
TO ACT HONESTLY TOWARDS ALL IN THE SPIRIT OF THE GOLDEN RULE;
TO SERVE WELL MY COMMUNITY, AND THROUGH IT MY COUNTRY;
TO OBSERVE THE REALTORS’® CODE OF ETHICS
AND TO CONFORM MY CONDUCT TO ITS LOFTY IDEALS.
Go to faarmembers.com, Tools, click on Ethics– https://faarmembers.wpengine.com/ethics
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. ”
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!
Press Releases
April Posts Gains in Total Volume and Units Sold
April typically signals the start of the spring selling season with increasing sales and this year did not disappoint. Total sold dollar volume increased over 8%, coming in at $164,683,573. That increase was fueled by 517 units sold in the month of...
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...
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...
February Real Estate Market Remains Strong
February continued more of the same for the local real estate market with year-over-year increases in total sold dollar volume, median price, and units sold and a decrease in days on market. Total sold dollar volume saw a more than 10% increase from February of 2017...