A Publication of the Memphis Area Association of REALTORS®
April 4, 2008
Volume 13, Number 14

In this Issue

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

Did You Know?

REALTOR® Magazine Publishes Downloadable Customer Handouts
Through REALTOR® Magazine Online, the National Association of REALTORS® provides more than 60 downloadable and printable handouts that you can provide your customers. Topics covered include "Tips for Lowering Homeowner's Insurance Costs" and "What You Can Do to Improve Your Credit". Check them out today.

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for April 3 and change from previous week:

MAARket Snapshot

Pending sales recorded and total active listings according to MAAR MLS for week ending March 30 and change from previous week.

In the News

MAAR NEWS

Youth Villages 5K Applications Available
Stop by MAAR today to pick up your Youth Villages 5K application and register for the race. The 5K run/walk is on Saturday, April 19, at Ridgeway Center. T-shirts and sweatshirts are for sale in the MAAR store for $15 and $25 each. Contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org for more information.

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. NEXT FRIDAY, April 11.

NAR's Leadership Academy Seeks Applicants
Structured around national meetings, the Leadership Academy is a nine-month, five-state training and development program designed to identify and develop potential leaders for the National Association of REALTORS®. REALTOR® members who are interested in pursuing leadership opportunities at the national level but have not yet been actively involved in leadership positions are encouraged to apply. Applicants must have some formal leadership training experience either through a local or state REALTOR® association or another program, such as a military or community leadership program. The application process must be completed online between March 24 and April 28.

INDUSTRY NEWS

Compromise Bill Could Expand FHA Loan Guarantee Program April 2, 2008
Plans for a massive expansion of FHA loan guarantee programs got a boost this week when Senate Republicans agreed to include the idea in a compromise bill if Democrats would drop a controversial proposal to allow bankruptcy courts to "cram down" the mortgage debt of troubled borrowers.

Fannie Mae Raises Credit Standards April 2, 2008
A minimum score of 580 will be required for most loans it buys from individuals.

How Photos Help Sell Homes April 2, 2008
The more pictures accompanying a listing, the faster the property should sell.

Second-Home Sales Accounted for One-Third of Transactions in 2007 April 1, 2008
The combined total of vacation- and investment-home sales declined with the overall market in 2007, but still accounted for 33% of all existing- and new-home sales.

Foreclosures 101: A View from the Inside March 31, 2008
An insightful view of foreclosures from Rick Sharga, VP of Marketing, RealtyTrac, Inc.

Upcoming Education and Events

Good Ethics = Good Business (NAR Ethics)
This course gives the history and development of the NAR Code of Ethics, as well as the duties owed to fellow REALTORS®, your clients and customers. Ethical and unethical behavior is defined through examples and progressive discussion to ensure the public interest is protected through your service.  Good Ethics = Good Business is Monday, April 7, from 8:30 to 11:30 a.m. at the Germantown Center (1801 Exeter) and is free for MAAR members and approved for 3 hours CE.  This course will satisfy your 2005-2008 NAR Quadrennial Ethics Requirement.  Register online.

If You Don't List, You Don't Last: How to Master Listings
"How to Master Listings" is a lively presentation designed to help you discover new prospecting methods, how to get the appointment, prepare and deliver the listing presentation, and verify you have a listing that will sell!  This course is being held at MAAR from 1 to 4 p.m. on Monday, April 7, for 3 hours CE credit.  The cost is $30 for MAAR members and $50 for non-members.  Register online.

GRI 2: Smart Marketing
This two-day (16-hour) program highlights the skills and tools needed to enhance residential listing and sales success - including communications skills, prospecting and farming strategies, competitive market analysis (the CMA), more effective listing presentations, how to better prepare a property for the marketplace, new marketing tools and activities, personal promotion (in person, in print, and online), target marketing, working more effectively with new home builders, time management, and goal-setting for results!  The class is April 8 and 9 at MAAR for 16 hours CE.  The cost is $210, but if you register by April 1 you'll receive a $20 discount.  To register, visit www.tarnet.com.

Talk Shoppe Presents "Important Things Buyers Need to Know About Home Inspections"
Fred and Derek Cooper of AAA Inspection Services will present this free seminar on Wednesday, April 9, 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.

April Membership Luncheon: Navigating the Changing Mortgage Landscape
In today’s changing environment, it's more important than ever for REALTORS®, home builders, and mortgage lenders to work together to find the right financing solutions for their clients’ individual situations. Fran Warner of First Tennessee Home Loans and West Beibers of Delta Mortgage will review recent changes in the lending marketplace and how they will affect your day-to-day business. The luncheon will be Wednesday, April 9, starting at 11:45 a.m. at The Esplanade, 901 Cordova Station Avenue. Register online or by calling (901) 818-2444 no later than 5 p.m. Friday, April 4. If you have a question you'd like our speakers to consider addressing during their presentation, please e-mail it to communications@maar.org. Sponsored by Mid South Title.

SRES: Senior's Real Estate Specialist
The SRES Designation course seeks to instill knowledge and understanding of 50+ clients and customers - the fastest growing market in real estate.  As an SRES designee, you will be able to: evaluate your market attractiveness to the 50+ market; master the vocabulary range of housing options for the 50+ market; develop business building outreach and counseling methods; assemble a team of experts; learn about reverse mortgage issues and recognize loan scams that victimize 50+ borrows; identify key life stages affecting housing choices; develop services that win and sustain client and customer relationships and trust; plus a whole lot more.  MAAR is offering the SRES on April 10 and 11, from 9 a.m. to 4:30 p.m. both days for 12 hours CE credit.  The cost is $399.  Register online.

IREM Luncheon Meeting
IREM Memphis will hold its regular monthly luncheon meeting on Thursday, April 10, at noon at The Tower Room. Guest speaker Danny Buring of The Shopping Center Group will discuss the Ridgeway Trace development. Cost is $25 for guests. Register online at www.irem-memphis.org.

TransactionDesk Basics
The purpose of this course is to explain the benefits and uses of the Tennessee Association of REALTORS® TransactionDesk online forms management program.  A live internet demonstration on TransactionDesk features will accompany the presentation so students will be able to visualize the process and mechanics of the system, and apply them to their own usage. The course will be held Monday, April 14, from 9 to 11 a.m. for $10.  Register online.

RLI Membership & Networking Meeting
The TN RLI Chapter will kick off 2008 with a membership & networking meeting Monday, April 14, from 11 a.m. to 1 p.m. at Thornhill Estates Clubhouse in Millington. Lunch will be served and there is no charge for members. For more information, contact Chapter President Glen Bascom at (901) 870-4023.

Welcome Home Memphis Affordable Housing Fair
Come and learn more about the Welcome Home Memphis program and the numerous community organizations that have resources available for first-time and low- to moderate-income homebuyers and services for homeowners facing financial difficulties. Refreshments will be served – and you could win a free Welcome Home Memphis education course. The fair will be Tuesday, April 15, from noon to 2 p.m. in the MAAR Education Center.

Memphis Metro CCIM Meeting
Memphis Metro CCIM will hold the monthly chapter membership meeting on Tuesday, April 15, at 11:45 a.m. at the University Holiday Inn. Ben Witt with Askew Hargraves Harcourt engineering firm will discuss LEEDS certified buildings. Cost is $25 for guests. Please RSVP to memphisccim@centurytel.net by noon, Thursday, April 10.

CRB: Managing and Leading Teams
Today's marketplace demands a higher level of service from both the firm and the individual agent. In order to meet those demands, managers and agents must maximize their performance by working together with complimentary talent within the firm. Attend this course on April 17 and 18 and learn effective strategies and techniques to help organize, develop and manage teams. For additional information, visit www.maar.org/ce/schedule.asp or call (901) 818-2421. A course discount of $100 has been extended to April 10, so get it while it lasts! After April 10, the cost is $225.

Fair Housing Conference April 17 & 18
The Fair Housing Alliance of Greater Memphis presents the 8th Annual Fair Housing Conference on Thursday, April 17, and Friday, April 18. The conference kicks off on Thursday evening with a reception at the National Civil Rights Museum followed by a full day of education on Friday at the Central Library, 3030 Poplar Avenue. Cost to attend is $30, which includes breakfast and lunch on April 18. Click here for more information and to register.

MLXchange & Technology

MLXchange Scheduled Maintenance
MarketLinx, MAAR's MLS vendor, has scheduled a brief interruption of MLXchange access on Monday, April 14, from 4 to 4:30 a.m. CDT, for server maintenance.

MLXchange Tip of the Week - Mapping Your Listing Correctly
Are your listings mapped correctly? MLXchange does the best job possible mapping the location of the property when a listing is added to the system, but it is the agent's responsibility to verify that the property has been correctly positioned on the map. These maps are the basis for the driving directions and map searches in the system. An incorrectly mapped property could keep a potential buyer from finding your listing. Click here for more information on mapping properties.

MLS Rules & Etiquette Reminder: Presentation of Offers
Click here to read MAAR’s MLS & Regulations regarding presentation of offers, submission of written offers, right of cooperating broker in presentation of offer, and right of listing broker in presentation of counter-offers.  The entire set of MLS Rules and Regulations can be found on the MAAR Web site.

e-PRO Informative Workshop Opportunity
Don't miss Paul Gaddes' free e-PRO Workshop at MAAR on Monday, April 28, from 9 to 10:30 a.m. Paul will teach you technology tips that will immediately help differentiate you from your competition! e-PRO is an online technology certification course which covers useful technology tips for agents. e-PRO is the only online technology certification course offered by the National Association of REALTORS® and it's NAR's fastest growing certification course. Attendees at this workshop will also have the opportunity to take advantage of the $25 discount for enrolling in the online e-PRO course. All existing e-PROs (and those currently enrolled in the course) who attend and bring a guest will receive an e-PRO pin ($25 value). Register online or by calling toll free 866-ePRONAR (866-377-6627).

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