A Publication of the Memphis Area Association of REALTORS®
February 22 , 2008
Volume 13, Number 8

In this Issue

• MAAR News
• Industry News
• Education & Events
• MLXchange & Technology
• Technology Classes

Did You Know?

Tuesday is the most productive day of the week for workers according to a recent Accountemps survey of 150 executives from the 1,000 largest companies. Of those surveyed, 57% chose Tuesday, followed by Monday named by 12% and Wednesday and Thursday each named by 11%. Friday was the least productive day with just 3%.

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for Feb. 21 and change from previous week:

MAARket Snapshot

Pending sales and active listings according to MAAR MLS for week ending Feb. 17 and change from previous week.

In the News

MAAR NEWS

Hubbard Nominated for NAR Director Position
The Tennessee Association of REALTORS® (TAR) Nominating Committee reported this week that Neil Hubbard of Prudential Collins-Maury has been recommended as a candidate for a three-year term as a National Association of REALTORS® (NAR) director beginning in 2009. Congratulations, Neil.

Rainey Chosen as President-Elect of WCR Tennessee
Patty Rainey of Crye-Leike has been chosen as president-elect of the Tennessee Women's Council of Realtors. Congratulations, Patty.

MLS/IDX/CommLink Fees Due Feb. 29
Invoices for semi-annual MAAR MLS, IDX, and/or CommLink fees for March through August have been posted to user accounts and are due no later than 5 p.m. on Friday, February 29, to avoid late payment fees. Invoices can be viewed and paid securely online or payment can be made in person at the MAAR office or mailed.

It's Education Money Time!
Are you interested in attaining or finishing a Professional REALTOR® Designation? If so, fill out an application to receive a MAAR Education Foundation Scholarship. It’s easy! You need to be a MAAR member for at least one year to apply, must have your managing broker sign, and must provide a brief written statement detailing your education ambitions and volunteer experience. The scholarship is merit-based and will award up to $250 toward the course of your choice. For commercial practitioners, check out our Newman Cross, CCIM Memorial Scholarship, which will award recipients full tuition to one CCIM course. Applications are available online and much be submitted by March 31, 2008.

Community Service Awards Call for Nominations
Know someone who works tirelessly for others? Let's recognize him or her! Applications for the Community Service Awards are now available. The application form has been streamlined this year to make it easier for you to nominate someone deserving. Applications are due by 5 p.m. on April 11.

Members Share Information at Career Fair
Thanks to the following members who volunteered time to staff the MAAR table at the Whitehaven High School Career Fair on February 21: Joe Bell, Thomas Byrd, Jim Keeling, Joyce Kneeland, Ellis Rankin, and Nedra Redditt.

INDUSTRY NEWS

Build Confidence Rises Slightly Feb. 20, 2008
The recent optimism about the housing market among builders is being driven by increasing traffic of prospective buyers through model homes.

How New FHA, GSE Limits Impact You Feb. 20, 2008
The higher loan increases for the GSEs and FHA can be a major stimulus for housing. Find out how you and your clients can take advantage of them.

Foreclosure Cleanup Business Booms Feb 19, 2008
Mortgage servicing firms that specialize in taking care of vacant properties are helping to restore the value of foreclosed properties.

Upcoming Education and Events

Talk Shoppe Presents "The Mastermind Principle"
Come prepared to share your business goals, recent successes, and challenges at this free seminar on Wednesday, February 27, from 9 to 10 a.m. at the Better Business Bureau, 3693 Tyndale (one block east of Forest Hill Irene off of Winchester). For more information, call sponsor Jo Garner at First Tennessee Home Loans at (901) 759-7808.

Youth Villages 5K Kick-off Party
Time to get out the sneakers, start dreaming up your theme team and get ready for the Youth Villages 5K! We’re kicking off the 26th Annual Race on Thursday, February 28, in the MAAR Education Center. The event begins at 5 p.m. with mingling and cocktails, followed by the Lion Heart presentation at 6 p.m. The party honors past Lion Hearts, Race Directors, volunteers, and the fabulous sponsors. Let’s get pumped up! 2008 Race information, including registration forms, will be available shortly at www.youthvillages5k.com.

Multi Million Dollar Club Awards Gala
Multi Million Dollar Club members and their guests are invited to the 2008 Awards Gala honoring the club's newest members on Friday, February 29, at the University of Memphis Holiday Inn. The evening begins at 6 p.m. with cocktails followed by dinner and the awards presentation. Music entertainment provided by Venus Mission. The gala is free for MMDC members and each member can bring one guest for a charge of $50. Register online or by calling (901) 818-2444 by February 26.

Rookie Resource: Closings From Start to Finish
On Wednesday, March 5, from 2 to 5 p.m., Attorney Ryan Byrne of Byrne and Associates, PLLC, offers you information on everything and anything you need to know about the closing process and title insurance, from helpful hints and tips in negotiation to the steps taken after the contract is signed. This course is available to new members only (joining within the last year). To register, please call (901) 685-2100 or e-mail nicci.lundquist@maar.org. The cost is free for MAAR members. Participants will receive 3 hours of CE credit.

How to Sell Real Estate in Hard Times
The Commercial Appeal is sponsoring a free seminar, How to Sell Real Estate in Hard Times, featuring sales and advertising expert Joe Bonura. The seminar will be Wednesday, March 5, from 8:30 a.m. to 11:30 a.m. at The Racquet Club, 5111 Sanderlin. A breakfast buffet is included and participants will receive 2 hours CE credit. To register, call (901) 529-2222 or send an e-mail to swiley@commercialappeal.com.

Owner/Manager Forum: Five Principles to Creating a Powerful Office
In this dynamic session, Darryl Davis, GRI, will show brokers and managers five innovative principles to help them recruit, train, and motivate a powerful team of agents. You will learn how to set specific goals and implement strategies to support them. After attending this forum, you will walk away with specific, tangible ways to keep your agents focused on money-making activities. Darryl’s experience with "real life success" adds to the credibility you need to apply these principles. The forum is Thursday, March 6, starting at 8:30 a.m. at the Fogelman Executive Center at the University of Memphis. A continental breakfast will be served. To register, call (901) 818-2444 or send an e-mail to katie.shotts@maar.org. Managing brokers and owners only, please. Sponsored by Community Mortgage.

Contracts 102: Notices and Disclosures
Contracts 102 is an in-depth analysis of Occupancy Agreement (Form 31 and 32), Notification (Form 26), Purchase and Sale Agreement Checklist (Form 64), Residential Property Condition Disclosure (Form 16), and Special Stipulations (Form 33). The course is designed to instruct licensees as to the correct procedure for adhering to time sensitive obligations under the Purchase and Sale Agreement and providing the appropriate Notices and Disclosures. This course is offered by attorney Ron Poe on Thursday, March 6, from 1 to 4 p.m. for $15 and 3 hours of CE credit. Register online.

Accredited Buyer Representative Course
Become the buyer’s representative with whom clients want to work and obtain methods for building and maintaining a loyal buyer representation business. March 12 and 13, MAAR is offering the Accredited Buyer Representative (ABR) course. The cost is $230 through February 27 and $260 after February 27. For additional information and to register, visit www.maar.org/ce/schedule.asp.

ABR: Foreclosure Prevention and Opportunities for Buyer-Clients
Real estate foreclosures are on the rise nationwide. Learn the foreclosure process, how to prevent foreclosures by avoiding predatory lending practices, and how foreclosed properties can provide a unique opportunity for your buyer-clients. Gain a competitive edge with this ABR one-day elective course on Friday, March 14. The cost is $95 through February 29 and $115 after. Register online or visit www.rebac.net for more information about the ABR designation. You do not need to be working to attain your ABR designation to take this course.

MLXchange & Technology

MLXchange Tip of the Week - Mapping Results
Have you noticed the new "Show Map" button at the bottom of the Search Results window? This tool allows you to view a split screen of search results and mapped properties, minimizing the need to flip between the search results window and a map window. Each property on the map is marked with a numbered, colored flag. A property photo, information on the property, and links to additional information can be quickly viewed by placing your mouse over a property flag. The next time you search for properties, check out this new feature!

MLS Rules & Etiquette Reminder: Lockboxes
Lockboxes are only for use on properties listed in the MLS system. Lockboxes are NOT an invitation to show a house. One of these two classifications can be specified on the profile sheet:

1. Open Lockbox - House can be shown without getting in touch with listing broker, but recommend register be signed at the house or call listing broker to inform of showing.
2. Closed Lockbox - Do not show house under any circumstances unless an appointment is confirmed.

The entire set of MLS Rules and Regulations can be found on the MAAR Web site.

MLXchange FAQ Sessions Every Monday at 10 a.m.
Need some help with MLXchange? Why not attend a question and answer session to quickly address your MLXchange questions. Sessions are offered in the MAAR computer training lab every Monday from 10 to 11 a.m. No appointment necessary, but do come prepared to ask questions! This is not a formal MLXchange class. For questions, call (901) 818-2455 or e-mail TechSupport@MAAR.org.

Upcoming Technology Classes