A Publication of the Memphis Area Association of REALTORS®
April 11, 2008
Volume 13, Number 15

In this Issue

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

Did You Know?

REALTOR.org Offers Research at Your Fingertips
REALTOR.org has more than 180 Field Guides covering a wide range of topics. Each guide pulls together articles, books, statistics, and other research on popular topics in real estate, including short sales, foreclosures, 1031 exchanges, and effective online marketing, to name a few. Save time when you need information by starting your research with these NAR Field Guides.

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for April 10 and change from previous week:

MAARket Snapshot

Pending sales recorded and total active listings according to MAAR MLS for week ending April 6 and change from previous week.

In the News

MAAR NEWS

Commercial Brokers Honored with Pinnacle Awards
The MAAR Commercial Council honored top performers in commercial real estate for 2007 at the Seventh Annual Pinnacle Awards gala held last night. Receiving top honors were Commercial Hall of Fame Inductee Dan Wilkinson of Colliers Wilkinson Snowden and Commercial Broker of the Year Mark Halperin of Boyle Investment Co. Awards were also presented to the 25 highest-producing commercial brokers based on sales and leasing activities in 2007 as well as the top producers in seven categories among those 25. A complete list of winners is available online.

MAAR Conference Room Chairs Available
MAAR is selling the old executive and side chairs from the board room. If you're interested, please contact Michael Browne at (901) 818-2419 or michael.browne@maar.org for more information.

NAR Audio Interview Discusses Risks of Loan Assumptions
The Legal Affairs Department of the National Association of REALTORS® (NAR) has posted a new podcast (approx. five minutes long), featuring an interview with attorney Howell Haunson. The interview covers loan assumptions, their increasing prevalence and possible risks. Despite the name, you don't need an iPod to listen to the recording, any device that plays audio files will work: desktop or laptop computer, MP3 player, iPod, PDA, etc.

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 by April 28.

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.

INDUSTRY NEWS

How to Stay Positive in Today's Market April 10, 2008
Here are 8 ways that you can create and maintain a positive mental attitude in today's market.

Pending Sales Shows Buyers' Fear Still in Control April 9, 2008
There's no index to track fear, but that could be the real reason why the National Association of Realtors is expecting a flat sales until the middle of the year.

Families Feel Crunch from Rising Rents April 8, 2008
The more pictures accompanying a listing, the faster the property should sell.

Suspected Mortgage Fraud Up 42% in 2007 April 7, 2008
Banks and other financial institutions filed 52,868 suspicious activity reports involving suspected mortgage fraud in 2007, an increase of 42 percent over the year before.

Rent Keeps Getting More Expensive April 7, 2008
Average rents for U.S. apartments rose 1 percent in the first three months of 2008, marking the 24th consecutive quarterly increase.

Upcoming Education and Events

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 and provides 2 hours CE credit.  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. If you're planning to attend, please register online.

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.

Talk Shoppe Presents "How to do Business in the Latino Market"
Julia Barreda Willhite of gobilingual.com will present this free seminar on Wednesday, April 16, 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.

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. 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.

Selling Real Estate in Mississippi
MAAR and the Northwest Mississippi Association of REALTORS® (NWMAR) are offering a one day seminar for the Tennessee Agent desiring to do business in Mississippi. "Selling Real Estate in Mississippi" is designed to assist the Tennessee licensee with a more workable understanding of the nuances of dealing with Mississippi properties as well as the customs, rules and regulations, and laws surrounding a real estate transaction in Mississippi. If you plan on doing business in Mississippi this week or even this year, you should plan to attend. The seminar is Wednesday, April 23, from 9 a.m. to 5 p.m. at NWMAR, . There is a minimal fee of $25 to attend. For additional details, visit www.maar.org/ce/schedule.asp.

CRS 201: The Listing Course
The quality of an individual’s listing skills can give him or her a strong competitive edge. Only those professionals who learn proven listing strategies will win over the client and increase their conversion rate. CRS 201 provides students with the important skills necessary to conduct successful listing presentations, price a home to sell, close the transaction and market and promote effectively. The course takes students through an actual listing presentation that helps them understand the key steps in this process and create a system for success.  CRS 201 is April 23 and 24 at MAAR for 16 hours of CE.  The cost is $260.  Register online.

AI: Office Building Valuation - A Contemporary Perspective
In this one-day seminar participants learn about the unique terminology, concepts, principles, and analytical techniques related to the proper valuation of office buildings. Special emphasis is given to the income approach and the complexities of valuing multi-tenant properties. Class will be held Friday, April 25, from 8:30 a.m. to 5 p.m. at MAAR for 7 hours appraiser CE credit and 7 hours TREC CE credit. Cost is $200 for AI members and $225 for non-members. Register online.

AI Quarterly Chapter Meeting
The Memphis chapter of the Appraisal Institute will hold its quarterly chapter meeting on Wednesday, April 30, at noon at the University Holiday Inn. Cost is $25 for guests. RSVP to aimemphis@centurytel.net by Friday, April 25.

Feeling Lucky?
Join WCR for a Night at the Races on Friday, May 2, at 5:30 p.m. in the MAAR Education Center! This event is a fundraiser to support WCR’s general membership education and scholarship funds. The line officers are selling tickets for $10 now, which gets you an Italian dinner and 5 betting chips to get you started. We’ll be showing several horse races throughout the evening and you can bet on your horse. Ladies - wear your derby hats!  Everyone is welcome. Sponsored in part by Home Surety Title. For more information, contact Jo Shaner at (901) 261-7919 or Ashley Krauch at (901) 374-0089.

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.

Technology Tip of the Week - Assigning a Lockbox to a Listing
When you put a lockbox on a house, are you taking the time to assign that box to the property? Assigning a lockbox is an important step in the listing process so that your SentriLock reports are accurate. This will also allow you and other agents are able to take advantage of SentriLock features that are integrated into MLXchange. Click here for detailed instructions on assigning a lockbox your listing.

MLS Rules & Etiquette Reminder: Auction Properties
Auction properties may be accepted into the MLS only with the list price as stated in the Listing Agreement.  The following shall be included in the Public REMARKS section: "This property subject to auction and the auction will be held on (date)." 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.

Donate Your Old Computers
If you have an old, but still functioning, computer in your closet or garage, recycle it! Dave Burns of Crye-Leike, REALTORS® is helping facilitate a computer recycling program offered through Covenant United Methodist Church, 8350 Walnut Grove Road. Simply take your computer to the church and qualified professionals will "flush" the hard drive and recondition the computer for use by organizations that need, but cannot afford, computer equipment (including inner-city churches and after-school programs). You can drop your used computer by the church gymnasium between the hours of 9 a.m. and 5 p.m. Monday through Friday (inquire at the reception desk about computer recycling). If you have a large number of computers, call Dave at (901) 619-2122 to arrange for pickup. Also, if you know of an individual or group in need of a donated computer, please let Dave know. They currently have about 15 computers waiting to be placed and since the project began, they have placed more than 200 computers with local organizations. Thanks to all REALTORS® who have donated computers.

Upcoming Technology Classes