Kudos to the following members who have invested in their careers, but acheiveing designations!  Thanks to all the Brokers who support and encourage agents to become more invested in their clients, by gaining new knowledge.

The following FAAR Members have achieved Industry Designations in the past month.

GRI - Graduate REALTOR® Institute:

Victoria Jo Painter – Exit Powerhouse Realty

Janis Weller – Century21 Classic (special congrats for getting ABR and GRI in same month!)

ABR - Accredited Buyer Representative:

Janis Weller – Century21 Classic

Barbara Klien – Keller Williams

Debbie Klingensmith – Century21 AdVenture

Marie Smith – Century21 AdVenture

Jonathan Snow – Exit Realty Expertise

Chip Taylor – Century21: Battlefield

Frieda Harris – Century21 Battlefield

Carrie Braxton – Exit Realty Expertise

ASR - Accredited Seller Representative

Sheri Lutz – Exit Realty Expertise

Ella Hubbard – Exit Realty Expertise

Richard Snow  - Exit Realty Expertise

Jonathan Snow – Exit Realty Expertise

Koontz Campbell – Exit Realty Expertise

Mary Ann Bechtold – Century21 Battlefield

Ethel Lucas – Century21 Battlefield

Gena Hill – Century21 Battlefield

Lynn Harris – Century21 Battlefield

Drew Fristoe – Century21 TEAM

Stewart Spencer – Century21 Realty I

Kris Dixon – Long and Foster

Lori Feldhaus – Assist2Sell

Carol Curley - Dockside Realty

CRB- Certified Residential Broker

Shelby Harvey – Century21 TEAM

Here is a recent report on the Virginia housing market in the second quarter of 2008.

The state housing market performed better in the second quarter of 2008 than in the first quarter
of the year, particularly in terms of sales activity. At the same time, there were dramatic shifts in
some local markets across the state. The outlook is for these regional differences to widen in
the next quarter before the overall state housing market edges back toward equilibrium.

Newbie

I have been a licensed Real Estate Agent for the past 6 months and in those 6 months I have learned A LOT! After thinking about it, I thought I should share what I learned with everyone. Some of the things I have learned are a little more serious than others, but this is what I’ve learned.

1.) Real Estate is NOT as Glamorous as you may think.

When I decided to get into Real Estate, everyone was telling me, “you are going to drive around in a fancy car, making tons of money!” Reality Check - Real Estate is A LOT of hard work, which involves driving around in car on hot day getting sweating, trying to make lots of money. We may like to portray being Glamorous but really we spend every day trying to do the best work so that our clients get the best house!

2. Educate yourself

The one thing you hear over and over again when you get your license is, finish your 30 hours of post licensing education in the first year. You groan and think, “well heck I just went thru all of this and now I have to learn more.” It not hard at all, its actually fun! I take every class or designation that I can. I love learning new stuff and it can only help me help my clients! What more could you ask for?

3. Get involved

That can mean getting involved in your local Association, your community, or your church. I believe in Karma and the more I give back the more I hope eventually comes back to me. If that means doing a little extra work helping others, well I am there!

4. I @ do you? Technology is a GOOD thing!

One of my favorite applications that I use online is Twitter. Its best explained as a mini-blog, where in 140 character you answer the question, “what are you doing?”. I have made some very good friends and learned some very good information on Twitter. I suggest it! (You might also want to try, Facebook, Flickr and Linkedin)

5. DO NOT close on a day before a holiday!

It may sound obvious but on my second deal, I did just that. And Guess what the deal did not close on the day! So, just listen to me, Do not, may I repeat, DO NOT close on a day before a holiday!

And Last but certainly not least. Drum roll please………..

6. Pat Breme is the Most Fabulously Dressed Woman at FAAR!

I mean seriously, have you seen the fabulous clothes that this woman wears! She is amazing! Pat Breme is FAAR’s exceptionally wonderful CEO. Not only is Impeccable dress but she has an Impeccable reputation dealing with the Association, its members and the community. I can only hope to one day be as well respected as Pat Breme!

These are the few of the things that I have learned in my first six months in Real Estate. It is by no means a complete list but if I had listed all the things I learned, well lets just say, I would still be typing!

I, like many of you, was surprised to learn that the Virginia Real Estate Board (VREB) recently amended the Virginia Residential Disclosure Statement to comply with House Bill 837. HB 837. This disclosure requires a new 7th notice be given to all prospective purchasers advising them that the seller makes no representations with regard to whether the property is located in a “dam break inundation zone.”

The new form was adopted by the VREB on July 10, 2008, and was posted to the VREB website that evening which means Listing agents should get the new disclosure signed by their sellers and use it for all contracts ratified Friday, July 11, 2008, forward.

Buyers who received the old form before July 11 do not need to receive a new form.

Remember: As with the changes effective January 1 of this year, It doesn’t matter when you took the listing. If you are giving a form to a prospective buyer on or after July 11, it must be the new disclosure form. If your seller or agent gave the old form on July 11 -15, you might want to give the current form to the buyers to avoid creating a potential loop-hole for a non-performing buyer to discover later in the process.

You can download the document below or Here is a link to the form: Virginia Residential Disclosure Form

Here is a link to thew new disclosure law.

Virginia Residential Property Disclosure Form - Free Legal Forms

Are You Paying Attention

Daily I receive phone calls from agents who are having issues keeping their license. It has nothing to do with disciplinary action and it has everything to do with paying attention to DPOR’s requirement for re-licensure.

It’s somewhat disconcerting when an agent does call days before the expiration date of their license trying to get help sorting out what they need and how to get it. FAAR’s Real Estate Career Academy holds routine classes and is becoming one of the most relied upon real estate school in Virginia. RECA’s staff is happy to help, but what we’re finding is that agents are taking classes from many different sources and not really creating a plan for how these credits will be obtained.

Keeping Track

A current trend has been agents calling about classes they’ve taken through a “coaching” program, settlement company or vendor touting that they are giving credit. The agent then finds that the class wasn’t really approved, doesn’t meet their required hours or that the credits never get filed. This results in agents panicking at the last minute trying to make up their hours. Here’s an example: Agent sees a free Ethics class offered by a vendor or coaching service who is using education as a way to introduce their service. The agent takes the one hour class and doesn’t follow up to see if the credits were applied. The agent also forgets that they need a minimum of three hours for Ethics. On top of that 3 hour requirement, if the agent is a REALTOR®, then they also have to take NAR Ethics training.  RECA and most other schools have incorporated these classes into one, three hour session to meet all your requirements.  Association schools work hard to present meaningful training in an easy to use program.  It’s why most classes are three hours.

Things to Watch Out For

Here are a few questions to ask when you are planning to take a class:

1.)  Is the course covering required CE/PL topics?

2.)  Does the marketing reflect the category of training?

3.)  Is the instructor qualified in the topic they are teaching?  (Such as a technology vendor offering a Fair Housing class…)

4.)  Are the topic hours taught meeting the minimum required hours for the catagory? (If you are taking an Ethics class, does it meet the 3 hour requirement set out by DPOR)

5.)  Is the education really designed to benefit you as a practitioner, or solicit business from you?

6.)  Do you already have the class or topics that are being offered?

7.)  Has the school shown a history of follow-up and dependability in submitting your credits to DPOR?

There are a number of good real estate schools in Virginia that offer quality training.  If you are in doubt, please give staff a call at your local Association and they’ll be happy to help you!