A Publication of the Memphis Area Association of REALTORS®
April 18, 2008
Volume 13, Number 16

In this Issue

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

Did You Know?

NAR Research Offers New Economic Reports on State and Local Markets
NAR Research has completed three reports that detail economic impact of homeownership in Tennessee and the Memphis metro area. "State Economic Impact of Housing" arms you with data on the contribution of homeownership to your state and local economies; "State Mortgage Conditions" calculates outstanding mortgage debt, prime and subprime, among homeowners in your state and localities; and "Metro Area Wealth Gain" looks at the equity accumulation of your homeowners over the years. Download these free reports for more insight into current market conditions.

Mortgage Monitor

Freddie Mac Primary Mortgage Market Survey for April 17 and change from previous week:

MAARket Snapshot

Pending sales recorded and total active listings according to MAAR MLS for week ending April 13 and change from previous week.

In the News

MAAR NEWS

Community Service Award Nominees Announced
MAAR's Community Service Awards honor those members who are making a difference in our community. The nominees and winners will be honored at a reception on Thursday, May 22, in the MAAR Education Center. Congratulations to this year's nominees:

REALTOR®/REALTOR-ASSOCIATE® Nominees

MAAR Releases March Market Report
On April 16 MAAR released the March Market Report detailing home sales recorded in the MAAR Multiple Listing Service for March.

NAR 2008 Quadrennial Ethics Requirement: Are You in Compliance?
Click here to see if you're in compliance with NAR's 2008 Quadrennial Ethics requirements. This list is current as of April 15. If you are not on the list, please refer to the FAQs for more information or check here to see a list of upcoming ethics classes that satisfy the requirement.

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 Tomorrow!
Don’t forget- the 26th Annual Youth Villages 5K run/walk is tomorrow at Ridgeway Center. You can still register on site if you haven’t signed up. 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. See you there!

INDUSTRY NEWS

17% Hike? No Way, Says Council April 17, 2008
While a city property tax increase may be inevitable next year, it is highly unlikely Memphians will have to pay the 17 percent hike Mayor Willie Herenton has proposed, City Council members said Wednesday.

Most Americans Say Now is a Good Time to Buy a House April 16, 2008
A majority of Americans think now is a good time to buy a home, although few believe the U.S. economy can escape a recession, according to a Reuters/Zogby poll.

Practitioners Say Business is Improving April 16, 2008
Low home prices and mortgage rates are driving buyer traffic in some long-suffering housing markets nationwide.

Smaller Floor Plans in Big Demand April 15, 2008
Home builders say buyers prefer specialty rooms like home offices over high-ceilinged great rooms. Small-scale furniture also is said to be a trend.

Jury Sides with RE/MAX Practitioner April 14, 2008
Clients had sued the buyer's agent, claiming he failed to tell them that other houses on the same block were selling for less.

FHA Loans Can Ease Mortgage Dilemmas April 11, 2008
These government-backed loans require only 3 percent down and allow cosigners and gifts for down payments.

Upcoming Education and Events

Selling and Closing Skills for a Difficult Market
The Memphis Area Home Builders Association presents this course that will cover housing price data, 20 closes you've never heard, negotiating in today's market, and overcoming objections, among others. Class meets at MAHBA, 776 Germantown Parkway, on Tuesday, April 22, from 9 a.m. to 4:30 p.m. Cost is $99 and the class offers 8 hours CE credit. Click here for registration details.

Talk Shoppe Presents "What to do When Your Income Drops"
Cathy Faust of University of Tennessee Adult Family and Consumer Services will present this free seminar on Wednesday, April 23, 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.

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.

Mid-South CRS Chapter Membership Kick-Off Event
All Mid-South CRS Chapter members, CRS National members, CRS Candidates, and CRS 201 Course students are welcome to attend a special networking and educational event on Wednesday, April 23, from 5 to 7:30 p.m. at MAAR with CRS Instructor Gee Dunsten - "Creating the Buzz: Word of Mouth Marketing." In this program, Gee will reveal tips and techniques to get people buzzing about your services without a PR firm or a multi-million dollar marketing budget to create the most valuable tool ever - word of mouth marketing. Drinks and light hors devours will be served along with Gee's session. To RSVP, please e-mail nicci.lundquist@maar.org.

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.

Pathways to Professionalism (Ethics)
This course will cover the background of the REALTOR® Code of Ethics, arbitration versus mediation, and your duties to the public, the property, and your peers. It will also address the new and revised articles for the Code of Ethics for 2008 and incorporate several different case studies. "Pathways to Professionalism" is being held Monday, April 28, from 1 to 4 p.m. at MAAR for $15 and 3 hours CE credit. This course will satisfy your 2005-2008 NAR Quadrennial Ethics Requirement. 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 Tip of the Week - MLXchange Help Documents Now Available
Need instructions to help you use MLXchange? Documents detailing the instructions for frequently asked questions regarding MLXchange are available in the Technology section of the MAAR Web site. The Help Documents page provides links to step-by-step, illustrated instructions for a number of tasks you may be looking to perform in MLXchange.

MLS Rules & Etiquette Reminder: Condominiums
Parcels zoned as Condominium should be listed as such within the MLS. Listing them as Single Family Residential could be the basis for an alleged violation of Article 12 of the Code of Ethics, which requires that "REALTORS® shall be honest and truthful in their real estate communications and shall present a true picture in their advertising, marketing, and other representations."

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