A Publication of the Memphis Area Association of REALTORS®
July 11, 2008
Volume 13, Number 27

In this Issue

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

Mortgage Monitor

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

MAARket Snapshot

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

In the News

MAAR NEWS

Save the Date and Wine Down for Habitat!
This year's Habitat Kick-off Party is on Thursday, August 21, at 5:30 p.m. in the MAAR Education Center. Tickets are on sale now for $25 each for the Wine Tasting at 4:30 p.m.  Or, get a team of four together and register for the Wine Race, beginning at 4:30 p.m.  We are also seeking donated items for our silent auction, all proceeds of which go toward the MAAR/Mortgage Bankers Association Habitat house.  If you need more information, would like to purchase a ticket to the Wine Tasting, register for the Wine Race, or contribute an auction item, please contact Katie Shotts at (901) 818-2435 or katie.shotts@maar.org.

Nominating Committee Seeks Director Candidate Recommendations
MAAR's Nominating Committee soon will begin their work to identify candidates for the 2009-2010 Board of Directors. If you or someone you know is prepared to commit your time, talents, and passion to make a difference by being a part of MAAR's leadership team, please send an email to that effect to carol.culpepper@maar.org no later than Monday, July 14. All submissions will be shared with the Nominating Committee for their consideration. The Nominating Committee will contact only those persons who are selected as to run as Director candidates.

Lockbox Alert
The eighth lockbox was reported stolen on July 9, the first since June 19. Seven of the eight houses were vacant, and nothing was stolen from four of them. The lockbox was apparently cut from the ornamental iron door in this latest incident, and two window air-conditioning units were stolen. Check your properties frequently and report lockbox break-ins to us immediately by calling Jules Wade at (901) 818-2414. The sooner a break-in is reported the greater the possibility a neighbor will remember noticing someone around the property.

Wanted: REALTORS® Interested in Reaching Out to Memphis' International Community
United Housing is looking for REALTORS® interested in reaching out to Memphis' immigrant community to join a focus group for discussion. Interested members should contact Aubrie Kobernus at (901) 818-2423 or aubrie.kobernus@maar.org for more details.

TAR Accepting 2009 Committee Requests
TAR is now accepting requests for appointment to a 2009 TAR committee or task force. To be considered, complete the request form and submit it no later than August 15.

INDUSTRY NEWS

Staging With a Human Twist July 9, 2008
Temporary house sitters may help to generate sales in markets awash in inventory.

The Reluctant Landlord July 8, 2008
With a weak home-sales market in many areas around the country, significant numbers of owners are now choosing to rent out the homes they really desire to sell.

Housing Price Declines Flatten July 8, 2008
It looks like the beginning of the end to one of the worst housing markets ever. Although inventories are still rising, home prices declined only half a percent, and only eight-tenths of a percent for the past three months, according to the Real-Time Housing Market Report, published by Altos Research.

Apartment Rents Rise in Second Quarter July 7, 2008
The average apartment rent rose 1.1 percent in the second quarter to $994 a month.

Home Sellers Who Understand Market Prosper July 7, 2008
Pricing, property condition more important to today's buyers.

Bargain Hunters Have Field Day with REOs July 3, 2008
Banks that are flooded with foreclosures are dumping them onto the market, even though they're often losing money on the deals.

Upcoming Education and Events

WHM: Qualifying Your Buyer for Affordable Financing
This course covers owning versus renting, loan qualification and commitment, getting your buyer ready (credit, down payment, PITI), homebuyer education, affordable loan products, DPA programs, and seller's assistance.  Qualifying Your Buyer will be held on Monday, July 14, from 8:30 a.m. to 12:30 p.m. for 4 hours CE credit.  The cost is $40.  Register online.

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.  Contracts 102 will be offered Tuesday, July 15, from 1 to 4 p.m. for 3 hours CE credit.  The cost is $15.  Register online.

LEED Certification for Commercial Buildings: What Does it Mean for You?
An overview of green buildings, the LEED Certification process, and the impact to commercial brokers will be the focus of the next MAAR Commercial Council Broker Forum on Wednesday, July 16, from 8:30 to 10 a.m. in the MAAR Education Center. Steve Guinn, CCIM, SIOR, LEED®AP, Highwoods Properties, and ReJohn Lartique, LEED®AP, The Crump Firm, will be co-presenters for the event. The forum is free to Council Members; $15 for non-members. Call (901) 818-2428 to make a reservation.

Talk Shoppe Presents "How to Build Your Business Using the Power of Networking"
Robert Staub of the Small Business Chamber will present this free seminar on Wednesday, July 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: Technology Management (for Managing Brokers)
Attendees will build a comprehensive technology strategy for their company based upon sound principles of investment, deployment, training and management. Fundamental issues such as design of office infrastructure, budgeting, investment and deployment are combined with critical management issues, such as implementing an office technology and Internet policy to prepare brokers to succeed in the real estate industry of the future. Emphasis on technology tools for Web marketing, leads management, performance benchmarking and agent coaching are combined with workshop exercises that help participants tailor the learning objectives to their particular company goals and marketplace.  Technology Management is July 17 and 18 for 16 hours CE credit.  The cost is $225.  Register online.

The New Negotiating Edge - A Five-Step Behavioral Strategy
Participants will leave this seminar with not only a complete understanding of the most current, innovative and effective negotiation strategies, but also with specific real estate applications for their day-to-day negotiations with and for their clients.  Course content includes the fundamental axioms of negotiating; the barriers to agreement and how to break through; the ASK-LISTEN-LEARN-LEAD sequence; uncovering a client's true motivation; how your client communicates and "PLAYS THE GAME;" how to handle the most common seller objections (commission-ectomies, pricing); and how to handle the most common buyer objections (waiting for the perfect house, waiting for the "good deal" or writing low ball offers).  The New Negotiating Edge is approved for 8 hours CE credit and will be held Tuesday, July 22, from 8:30 a.m. to 5 p.m.  The cost is $95 through July 15; $115 after.  For members acquiring their CRS designation, this course will satisfy 1 CRS elective unit.  Register online.

Exclusively By Referral
This session focuses on developing and implementing client-centered strategies designed to create a large and steady flow of referrals.  The benefits of this exclusively by referral business model are more trusting, less resistant clients, more profit, and more free time to enjoy it!  "Exclusively By Referral" will be held Wednesday, July 23, from 1 to 5 p.m. for 4 hours CE credit.  The cost is $40.  Register online.

Selling Real Estate in Mississippi
The Northwest Mississippi Association of REALTORS® together with MAAR is offering a one-day seminar for the Tennessee agent desiring to do business in Mississippi. "Selling Real Estate in Mississippi" is designed to give the Tennessee licensee an understanding of the customs, rules, regulations and laws of a real estate transaction in Mississippi with special emphasis on agency and representation.  This course will help the Tennessee licensee avoid legal pitfalls.  If you are planning to do business in Mississippi this week or this year, this course is a must attend.  Please join us Wednesday, July 23, from 9 a.m. to 5 p.m. at the Northwest Mississippi Association (a mere 30-minute drive from Memphis).  The cost is $25.  Register online or call (662) 449-3553.

CI Introduction to Commercial Investment Real Estate Analysis
Register now for the upcoming CI Intro course hosted by the Memphis Metro CCIM Chapter July 24 and 25 at MAAR. Enhance your knowledge! Introduction to Commercial Investment Real Estate Analysis provides an overview of every aspect of commercial real estate - from property inspection through follow-through after the property is sold. You will be introduced to the many ways to profit in the multi-faceted, dynamic field of commercial investment real estate. Learn with and from your peers and expand your contacts among commercial property practitioners. Every phase of commercial real estate analysis is represented through a real-world application to a real property. Cost is $350 for the two-day, 16-hour CE class. Register online or call (800) 621-7027. For more information call (901) 681-0933. You don't want to miss this one!

MLXchange & Technology

Don't Risk Being Fined: Update Your Listing Status
MAAR staff have been receiving a great number of calls recently about:

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

MLXchange Tip of the Week - Tracking Your Non-MLS Sales
Do you use MLXchange to keep track of all of your sales? Do you enter the transaction when you are the selling agent on a property listed as a FSBO or by a non-MLS agent? Entering these sales into MLXchange can help you keep an accurate record of your yearly sales for future reference. Click here for instructions on entering a non-MLS sale into the MLXchange system.

Start Your Search Here!
Recent studies have indicated that 78 percent of all buyers use the Internet to search for a home. Are you providing consumers this capability on your Web site? MAAR’s IDX solution is a property search feature that can be added to an MLXchange or personal web page that allows members of the public to search the majority of the local MLS listings, and the leads come back to you! For $8 a month, you can provide this invaluable feature to visitors of your site. To enroll, contact MAAR Technology Services at (901) 818-2455.

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