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Apply for the 2022 Board of Directors
Would you like to be part of the decision making as FAAR moves into the post COVID-19 new normal?
Does a leadership role in FAAR interest you?
Are you ready to give back to the REALTOR® community?
-Pat Breme, CIPS, RCE
CEO
If you have answered yes to one or more of the questions than you might be interested in running for the 2022 FAAR Board of Directors. The Nominating Committee is accepting applications until June 4.
The Board is a hard-working body of 13 people who set policy for the entire association. The group meets monthly to ponder issues, solve problems and keep the association financially solvent by carefully managing funds and investments.
A new Director commented, “ I had no idea the Board did so much.” A lot of deliberation is given to each topic on the agenda. The reoccurring question asked? “Is this good for the membership?”
Affiliate Candidate
The members voted in 2017 to add an affiliate member position on the Board of Directors. Affiliate members are welcome to submit an application. The Affiliate Director has full voting rights, serves no longer than a two-year term and may not serve as an Officer. Affiliate members applying for consideration follow the same application and vetting process (interviewed by the Nominating Committee) as an agent member would follow in applying to run for the Board of Directors.
Affiliate applications are reviewed by the Nominating Committee and those persons who meet the basic requirements of service to the Association, exhibit leadership characteristics and a willingness to dedicate time and energy will be considered for an interview by the Committee. The Committee can recommend all the applicants, one or none, but not more than three may be placed on the ballot. The affiliate candidate getting the highest number of votes receives the position.
Application Below
Below is the application for a new director and the Leadership Code of Conduct forms. Return the completed forms to me at pbreme@faarmembers.com on or before June 4. Selected applicants will be notified of an interview time.
Questions?
Please contact me, Pat Breme via email at pbreme@faarmembers.com with questions you might have. View the contact information for the 2021 Leadership Team at faarmembers.com/leadership. Each would be happy to answer any questions you might have about serving.
The terms are either for 2 or 3 years. Is the Board a clique? Yes, if you define the word as a group of people with common interest. The common interest is YOU!
NAR Concerned About Tax Hikes in Biden’s Jobs Plan
From Realtor® Magazine…
President Joe Biden addressed a joint session of Congress for the first time Wednesday night to outline his American Families Plan, the second half of an ambitious infrastructure agenda focused on social programs that Biden would pay for with a host of tax increases.
NAR President Charlie Oppler sent a letter to the White House on Thursday outlining concerns with several tax provisions in the proposal and how they could affect the broader economy and access to affordable housing. Oppler pledged to work closely with the administration in the coming months, while NAR’s advocacy team is cautioning the road to passage is a long one.
“This is an opening bid by the administration. What could become law months from now will likely be very different,” said Shannon McGahn, NAR’s chief advocacy officer. “We will be actively engaged with lawmakers of both parties as this bill works its way through the legislative process, as we were with all of the major COVID-19 relief bills.
“Real estate makes up nearly one-fifth of the entire American economy, and we will continue to vigorously educate lawmakers about how these various tax policies could impact the market. Both residential and commercial real estate have very unique needs at the moment, and disruptive measures could have far-reaching consequences for access to homeownership,” McGahn continued.
The first half of President Biden’s agenda-dubbed the American Jobs Plan-was released at the end of March and focuses on traditional infrastructure spending. Oppler thanked the president “for emphasizing housing availability and broadband internet access” in the first proposal and said he “looked forward to working with Congress and the administration to ensure these proposals are funded responsibly.”
Virginia’s Commercial Real Estate Market Resilient Amid COVID-19
From the Virginia Realtors®…
Richmond, VA – According to the Q1 2021 Commercial Market Report released by Virginia REALTORS®, the commercial real estate market in Virginia has been surprisingly resilient, despite concerns about a serious downturn as a result of the COVID-19 pandemic.
Virginia’s office market has seen a modest rise in vacancy rates. Office rents have risen or remained stable in most markets across the state, and mid-sized and suburban markets have been performing best. In the 1st quarter, the fastest rent growth occurred in Charlottesville and Roanoke.
One key reason behind the resiliency of Virginia’s office market is growth in several key office-supporting sectors. Virginia REALTORS® Chief Economist Lisa Sturtevant, PhD, says, “In the commonwealth, the economy has gained back all of the jobs that were lost in the important Professional & Technical Services sector. In addition, the Finance & Insurance sector has remained steady throughout the past year.”
The impact of COVID-19 on Virginia’s retail market has not been as severe as expected. Despite early predictions, there has been no major fleeing from retail spaces in many Virginia markets. While retail vacancy rates have increased over the past year in Virginia, vacancy has remained fairly low—under 6%—in all markets across the state. Retail rents have declined modestly in Northern Virginia and Richmond, though there has been rent growth in some smaller markets, including Hampton Roads and Roanoke.
Industrial real estate has outperformed all other property sectors, benefiting from the pandemic’s fallout, rather than being set back by it. Growth in e-commerce sales has been a key driver of the strong demand for industrial space, particularly warehousing and fulfillment centers.
Virginia REALTORS® publishes quarterly reports on the commercial real estate market. These reports summarize trends in the office, retail, and industrial markets in nine regions across the state, and provide an outlook for future commercial market conditions. Click here to view the full Q1 2021 Commercial Market Report.
FAAR seeks Chief Executive Officer
The Fredericksburg Area Association REALTORS® (FAAR) is currently seeking a highly skilled and motivated professional for Chief Executive Officer (CEO). The association has a solid foundation, a collaborative culture, and a desire to serve its members at the highest levels. The Fredericksburg Area Association of REALTOR® serves 1650+ members located in Fredericksburg, Virginia.
Qualified candidates will have:
- At least three to five years of senior-level experience or equivalent. Association management is preferred but not required.
- Excellent leadership qualities, paired with solid decision-making skills that inspire staff and members to embrace the vision and strategic goals of FAAR.
- Outstanding communication and public speaking skills, with the ability to leverage relationships to increase FAAR’s visibility in the community.
- Comprehensive knowledge of association/organizational administration, operations, financial management, strategic planning, member relations, and growth.
- Proven track record as a high-level executive to cultivate and lead a high-quality professional staff team and lead a diverse group of volunteers.
- Ability to ensure the long-term fiscal health of the organization by working with the Board of Directors to maintain safeguards that protect the organization’s favorable financial position.
- Commitment to network and establish relationships/partnerships at the Local, State, and National Associations.
- Relevant designations such as the RCE and/or CAE designations desired but not required.
- FAAR offers a comprehensive benefit plan and a competitive salary commensurate with experience and qualifications. Some travel is required.
FAAR is an equal opportunity employer. The Association will provide equal employment opportunity to all qualified persons regardless of race, creed, color, sex, age, religion, national origin, marital status, disability, veteran status, or any other classification protected by law.
If interested, please submit in confidence your resume, a cover letter with base salary requirements to Virginia REALTORS® at AEsearch@virginiarealtors.org by May 27, 2021
NOTES:
Additional Salary Information: Please indicate base salary requirements in cover letter. FAAR offers a comprehensive benefit plan and a competitive salary commensurate with experience and qualifications.
FAAR Recognizes 2020 Realtor® Award Winners
The Fredericksburg Area Association of REALTORS® (FAAR) recognized 2020 Award Winners who have set themselves apart in the industry through their commitment to professionalism, education, and customer service.
Awards were handed out for Rookie Salesperson of the Year, Manager of the Year, REALTORS® Choice, and Educator of the Year. In addition, 17 members were recognized for achieving the Professional Honor Role in 2020. The Professional Honor Role spotlights members who have made contributions to the real estate industry, the Association, and the community.
The following individuals received awards for 2020:
| Manager of the Year Nick Brown, Weichert Realtors® |
Rookie Salesperson of the Year Morgan Segars, Long & Foster Real Estate, Inc. |
| Educator of the Year Sarah Stelmok, Nest Realty |
REALTORS® Choice Dalal Abilmona, Berkshire Hathaway Home Services Select Realty |
Professional Honor Role
Tricia Barnes, 1st Choice Better Homes & Land
DeAnna Hamn, 1st Choice Better Homes & Land
Carrie Danko, 1st Choice Better Homes & Land
Penny Traber, 1st Choice Better Homes & Land
Ginny Vickers, 1st Choice Better Homes & Land
Lynn Lenahan, 1st Choice Better Homes & Land
Sha Williams Hinnant, 1st Choice Better Homes & Land
Bethany Pannell, 1st Choice Better Homes & Land
Corrine Macon, 1st Choice Better Homes & Land
Linda Williams, Century 21 New Millennium
Linda Dort, C21 New Millennium
Valerie Dellandre, C21 New Millennium
Tony Shade, RE/MAX Allegiance
Sharon Shade, RE/MAX Allegiance
Drew Fristoe, Coldwell Banker Elite
Jennifer Caison, Coldwell Banker Elite
Chip Taylor, Long & Foster, Inc.
Also recognized at the event was FAAR’s first recipient of the Faces of FAAR Diversity Scholarship, Tamar Myers-Moffatt, Samson Properties.
Congratulations to all!
One Year into the Pandemic and Real Estate is Still Flying High
Despite a dip in pending sales in February, March proved another very strong month in the local real estate market. The month closed out with a more than 25% increase in total sold dollar volume, going from approximately $204.5 million in March of 2020, t0 more than $256.6 million in March of 2021. Median sold price was up over 15% year-over-year, clocking in at an all-time high of $364,950 in March of 2021 compared to $316,000 in 2020. These increases were fueled by a more than 8% increase in units sold with 601 properties changing hands in March of 2020 compared to 650 in March of this year.
“The spring market kicks off with extremely low home inventory leaving buyers and their agents distraught and frustrated jockeying for accepted offers, and elated sellers as home prices have dramatically increased,” comments FAAR Board of Director Lauren Tate. “My agents are taking this opportunity to connect with homeowners to understand their five-year homeownership goals as now may be a great time to cash out. Overall, residential real estate continues to be a key driver of the economy.”
Days on market, the time it takes from when a listing enters the market until it receives a ratified contract and is removed from active status on the multiple listing service, fell more than 63% with houses averaging a measly 15 days on the market this March compared to 41 days last year. In practice, many homes are coming onto the market with sight-unseen offers already made so it is possible that days on market could appear artificially high without controlling for that phenomenon.
Not unexpectedly, inventory across the region remains at historic lows. In March of 2020, there were 1,191 homes on the market. In March of 2021, there were just 383 homes for sale, representing a nearly 68% year-over-year decline. New listings were down 5% compared to last year, which was a much lower decline than February. New pendings while down in February possibly indicating a softening of demand due inventory issues, increased again in March with 14% more new pending sales compared to last March and nearly 10% more pending homes sales overall. Scant inventory is certainly hampering many home searches, but the demand for residential real estate remains high despite those challenges.
The FAAR Expo is back in 2021
This year the Special Events Committee and the Board of Directors are excited to announce a return to the FAAR Expo! Mark your calendar for September 15th as we gather at the Fredericksburg Expo Center to learn, network, and have fun!
Great Speakers
FAAR is thrilled to have Marki Lemons-Ryhal as our keynote speaker! Marki’s name may sound familiar to you as she is a renowned speaker in the field of real estate and marketing. Her innovative and engaging speaking style is sure to inform, entertain, and delight!
Check out these great classes Marki will be teaching at Expo:
- It’s Not You, It’s New!
Are you frustrated by technology and social media? You are not alone! As a 46-year-old social media speaker, Marki often wants to throw her phone, tablet, and computer out the window. How does one remain sane when every day there are updates to devices and apps? It’s not you, it’s new!
- Social Selling Made Simple, Habits to Change Your Life
Are you ready to have a social shift in your life? If you are an entrepreneur, independent contractor, or strive to make it to the next level in your current occupation, it is essential to connect online and offline. This session will help you make those necessary connections daily for 66 consecutive days. Attendees will receive copies of the Social Selling Journal, a guide to being social every day, both online and offline, to stay number one in your customer’s mind.
- The Modern Real Estate Professionals Guide to Success
Creating valuable content is vital to your real estate business growth. Learn how ten FREE tools can create an array of timely irresistible content. We will teach you how to use each tool and incorporate the tools into your daily marketing plan.
Marki Lemons Ryhal is a licensed Managing Broker, REALTOR®, avid volunteer, Major Donor, and International Best Selling Author. In 2019, Marki was nominated as an RISMedia’s Real Estate Newsmaker and inducted into the REBAC Hall of Fame.
With 30 years of marketing experience, Marki has taught over 500,000 people (face-to-face and virtually) how to earn up to a 2682% return on their marketing dollars.
FredTalks
Big ideas packed into short talks.
Hear from local specialists! Speakers will cover a variety of topics in 5- to 10- minute increments about topics relevant to your business. The best part? FredTalks will be open to all attendees free of charge! Keep an eye out as we get closer to Expo to get speaker and topic announcements.
Expo Floor
Become a better agent by networking on the tradeshow floor! Meet dozens of local vendors who can help you grow your business and better serve your clients.
Networking at Expo can help you:
- Build your network of industry specialists
- Learn about industry trends
- Grow your referral network
- Get your questions answered by industry specialists
- Increase your value as an agent
Safety Precautions
Currently, the events team and FAAR staff are keeping a close eye on all safety procedures, guidelines, and precautions in regards to COVID-19. To that end, Expo may look a little different this year.
- Booths may be further apart than usual
- Seating in the classroom may be socially distanced
- Meals will be boxed instead of an open buffet
- Masks may be required
- Current COVID procedures mandated by the state will be followed
At this time, we are excited to be bringing back the FAAR Expo in 2021. We are working to bring you a safe, educational, and fun event! If for any reason it is not safe to hold the expo in September, we will work with sponsors, speakers, and the expo center to move the event to the spring of 2022.
#Member Monday—Meet REALTOR® Valerie Dellandre
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
Valerie Dellandre
Hometown
The Historical little Town of Farmville, VA
Current Location
Lake of the Woods
Title
REALTOR® with Century 21 New Millennium
Number of Years in the Industry
17+
Why do you love working in real estate?
I love being a blessing to others and there is no better blessing than helping one purchase their first home!
Favorite Work Story
I learned years ago you never know where business will show up! Received a call from a potential investor interested in buying a Short Sale listing of mine to rent in western Spotsylvania. Perhaps not a good opportunity for an investor, but through hard work and dedication we have conducted six transactions together!
What are you most proud of in your career?
I am most proud of staying the course regardless the type of market we experience. I learned years ago markets change and nothing lasts forever! Learn all you can to accommodate clients in any type of market.
Do you have a special cause or volunteer your time?
I’ve been a volunteer nurse for my Church since 1999. I love being a first responder for the Lord and being there for those needing my help rather it is spiritual or a sickness. I truly believe lives were saved because I was in the right place at the right time.
Fun Fact
My husband and I experienced “Love at first sight” on Thanksgiving 1978! We married nine months after meeting and currently celebrating over 41 years of blissfulness. Robert continues to treat me like his Queen.
Interesting Factoids from NAR’s 2020 Member Profile
compiled from 2019 and 2020 information…
Business Characteristics of REALTORS®
65% hold sales agent licenses, 22% broker licenses, 15% broker associates
73% specialize in residential sales
The typical member has 9 years’ experience, 17% with less than a year experience
Shared experience of 25 years or more, 17%
Personal assistants- Only 16%, mostly broker owners and managers
30% of REALTOR® firms have a relocation department
80% of members were certain they would stay in the business for 2 more years
Business activity of REALTORS®
94% of appraisers appraised residential properties, 26% appraised land/farms
Typical appraiser appraised 204 properties
63% practiced single agency, 35% buyer and seller agency with disclosed dual agency, 11% transactional
Typical agent had 12 transactions; 33% reported one commercial deal
80% of property managers handled single family residential homes, 59% multi-family, 23% office property
Typical REALTOR® worked 36 hours
Typical agent earned 15% of their business from past clients
66% of agents reported no business from open houses
Income & Expenses of REALTORS®
37% were compensated under a fixed commission split (under 100%),
22% with graduated based on productivity
16% with a capped split (rises to 100 percent after a predetermined threshold)
Total medium expenses were $6,290
Medium gross income from real estate activities of REALTORS® was $49,7000
Sales agent medium income- $35,000,
Broker owners, managers, appraisers slightly higher
Only 2% received a sign-on bonus
Typical website maintenance- $70
Agents spent $60 on social media advertising; broker owners, managers $100
Office and Firm Affiliation of REALTORS®
52% reported they worked with an independent company
42% of REALTORS® were affiliated with a firm with a single office
25% worked at a firm with 2-4 offices
Medium tenure at current firm was 4 years
50% of brokers had some ownership interest; 33% sole ownership
Errors and omissions insurance was leading agent benefit
69% worked independently, 30% as part of a team
Technology and REALTORS®
Daily 9 out of 10 use a smartphone and wireless email, the internet, laptop or desk top
Daily 95% use email; 59% use social media, 66% use multiple listing software
77% have their own website, 44% of which are provided by the firm
76% are on Facebook, 60% use LinkedIn, 42% Instagram
26% do not use social media
A typical REALTOR® receives no inquiries from their website; brokers owners and manager receive the highest number due to greater spending
Social media brought in 2% for a typical agent continues to decline
Demographics Characteristics of REALTORS®
64% were female; 58% are 60 years and older;
Medium age was 55
93% had some post-secondary education, 33% completed a bachelor’s degree
Previous careers of agents- management, business or finance, sales
Only 5% was real estate the first career
73% reported that real estate was their only occupation
69% were married, 16% divorced, 10% were single or never married
80% were white, 10% Hispanics, blacks, 6 % Spanish was most common second language
Medium gross REALTOR® household income was $121.5000
83% of REALTORS® owned their own primary residence; 38% owned other
properties; 21% said they owned at least one commercial property
96% of REALTORS® are registered to vote
72% volunteer in their communities
13% were veteran; 1% active-duty service members
The Profile is just $14.95 for members for download (a $149 value)
2020 Member Profile – REALTOR® Store
FAAR receives $4,500 for Orange County Park Project
FAAR will use a $4,500 Placemaking grant from the National Association of Realtors® (NAR) to help transform an unused space in the Town of Orange into a vibrant, public destination for community use and enjoyment.
The grant was designed by NAR to ensure local Realtor® Associations are partnering with neighboring organizations to plan, organize, implement and maintain Lighter, Quicker, Cheaper placemaking in their communities.
FAAR will contribute these funds to help support the creation a pocket park along the Church Street corridor in the Town of Orange. This corridor was home to a thriving Black commercial district through the 1970s which was significantly impacted by a bypass transportation project. The park will feature a series of interpretive markets recounting the history and people of the business district, with seating, landscaping, and statuary. The park will not only serve as a gathering spot for reflection and inspiration, but also as a catalyst for preservation-based economic development. FAAR is partnering with the Orange Downtown Alliance, a certified-Main Street program.
Artist rendering of the proposed project
Press Releases
FAAR Releases 2020 1st Quarter Home Sales Report
How things have changed from January and February! COVID-19 crashed into our market in mid-March and virtually ground life as we know it to a halt, so how did that impact the local real estate industry? The first quarter of 2020 was strong, with increasing volume...
FAAR Endorses Mary Katherine Greenlaw for Mayor
The Fredericksburg Area Association of REALTORS® (FAAR) announces its endorsement of Mary Katherine Greenlaw for Mayor of the City of Fredericksburg. The general election was scheduled to take place on Tuesday, May 5, 2020 and also includes seats for At-Large City...
Real Estate Market Proves Resilient in the Face of COVID-19
Despite significant concern over the impact of COVID-19 on the local real estate market, March numbers show increases in sold volume, median price and units sold. FAAR Board Member Linda Fosdick remarks, “Our Lake Anna market enjoyed a robust spring. Even at the...
February market hot, but what lies ahead?
February continued the local real estate market’s trend of increasing sales volume and median price coupled with decreasing days on market FAAR Board Member Randy Walther states, “The market was active for February continuing a strong winter season. My office was...