June
2018

I SSUE
No. 6
 The Mid-Fairfield Record

 Click to  Visit MFCAR.COM

MFCAR Upcoming Events
JUNE
22 - 10:00 a.m. Raymond Gates Scholarship presentation of Awards
27 - Program Committee Meeting 2:00 PM - 3:00 PM

JULY
4 - Independence Day - Board Office Closed
11 - 9:30 a.m. Region I Caucus - State Directors - MFCAR Office
19 - 10:00 a.m. CTR State Directors Meeting - Wallingford, CT
20 - 9:00 a.m. MFCAR Board of Directors Meeting - MFCAR office

August
5 - 7 NAR LEADERSHIP SUMMIT - CHICAGO, IL
8 - MFCAR Annual Clambake - Compo Beach South 5:00 - 10:00
9 - MFCAR Annual Clambake (Rain Date)
17 - MFCAR Board of Directors Meeting - MFCAR office (if needed)


New Member Orientation Dates - New members will be notified  in advance by email as to which date to attend.
  • 9/17/18 - 9:00 AM to 12:00 PM @ MFCAR Board Office
  • 10/22/18 - 9:00 AM to 12:00 PM @ MFCAR Board Office
  • 11/9/18 - 9:00 AM to 12:00 PM @ MFCAR Board Office

President's Update

As we move into Summer - finally - there are a couple of items that I want to share with you:
 
DID YOU KNOW - NAR has sent out a Call to Action regarding the National Flood Insurance Program (NFIP). Please respond and tell our legislators that the NFIP must be extended to protect our homeowners.
 
DID YOU KNOW - In a major move to keep REALTORS® positioned for success into the future while ensuring NAR no longer needs to use reserves to cover expenses, the board approved a budget that sets national association dues at $150 per year per member beginning in 2019. That's a $30 increase. Seventeen dollars of the increase is for REALTOR® Party advocacy programming. The remaining $13 will fund programs such as the new Commitment to Excellence professionalism initiative, the popular forms and transaction management benefit, and upkeep of the association's buildings.
 
DID YOU KNOW - The Board Office has had a number of complaints regarding Broker Open House times. In Westport there are acceptable hours for your Broker Open House. 

Here's how it breaks down - on Thursdays:

 

  1.  First time  on the market the  Open House hours are  10am-2pm.

 

 2.  If it is a Repeat, Open House hours are 10am-Noon for homes North of the Post Road. The hours are Noon-2pm for homes South of the Post Road.


Please be considerate of your fellow REALTORS® time and gas. When we have 25 or more homes on Tour it is very difficult to get to all the homes if these guidelines are not respected. Thank you, in advance, for your cooperation!

 
That's all for now. Best wishes for a wonderful summer and sell lots of homes!

Deb Alderson
MFCAR President
R aymond  F G ates,J r.
Memorial Scholarship Recipients

2018
 
Mateusz Babinski  is a 2018 graduate of Weston High School. He will attend Roger Williams University to pursue a degree in Architecture.  Matt was a varsity athlete, serving as Captain of his school's swim team during his senior year. He has a special interest in construction and is a member of Builders Beyond Borders, a non-profit organization providing community service in Fairfield County.  During spring break, he traveled to South America with Builders Beyond Borders to assist in building classroom space for children there.  Matt is the son of Katarzyna Babinksi, a REALTOR® with Keller Williams Prestige Properties in Stamford.  

Claire Dinshaw  attends Stanford University in pursuit of her Bachelor's degree in Economics.  Claire is involved in numerous extracurricular activities including being a columnist for The Stanford Daily student newspaper and an active member of Stanford in Government and Stanford Women in Politics.  Earlier this year, Claire was awarded the Columbia Scholastic Press Association Gold Medal and Silver Crown for her previous work done as Editor-in-Chief of her high school newspaper.  Claire is the daughter of Michael Dinshaw, a REALTOR® with Coldwell Banker/Riverside in Westport.

Sarah Gallagher  is a graduate of Boston College who is currently attending Georgetown University's E. Walsh Graduate School of Foreign Service pursuing a Master's degree in German and European Studies with a concentration in International Relations and pursuing a graduate certificate in Diplomacy.  She serves on the Public Relations Team for the annual graduate student-led conference at Georgetown University's Transatlantic Policy Symposium and also as a Graduate Research Assistant in Georgetown's Department of Government.  Sarah is the daughter of Mary Ellen Gallagher, a REALTOR® with Coldwell Banker/Riverside in Westport.

Justin Keith  will graduate from Fairfield Prep in June.  He will be attending Boston College in the Fall to pursue a Bachelor's Degree in Business.  Justin played Freshmen and Varsity Football serving as captain in 2017 and Freshmen Varsity Lacross, serving as captain in 2018.  He also makes time to volunteer in his community at Operation Hope, a local homeless shelter in Fairfield and at the CT Challenge bike ride.  Justin is the son of Karin Keith, a REALTOR® with BHHS New England Properties in Fairfield.
 
Charles Li  is a 2018 graduate of Wilton High School pursuing a Bachelor's Degree in Aerospace Engineering/Computer Science at Georgia Tech this fall.  Scoring an impressive 1520 on the SAT and a 35 out of 36 on the ACT, he is a member of the National Honor Society, an AP Scholar and a 2017 Science Olympiad Bronze Medalist in chemistry.  Charles is also Captain of the Math Team, Founder of the Robotics Club and President of the App Club.  His community involvement includes Co-Captain of the Fairfield County Chinese Community Church's Youth Ensemble and Coach Assistant for Norwalk Grassroots Tennis.  Charles is the son of Min Lin, a REALTOR® with William Pitt Sotheby's International Realty in Wilton.
 
Jack Preston  will graduate from Joel Barlow High School in June and attend Loyola University Maryland in the fall majoring in Business Administration.  Jack is involved in both his school's SafeRides organization, providing a safe ride on Friday and Saturday nights to students in need and Operation Smile, raising money to provide cleft lip/palate repair surgeries to children worldwide.  In addition to his academic and volunteer activities, he also works summers at Aspetuck Valley Country Club and currently at Redding Roadhouse as well.  Jack is the son of Tom Preston, Designated REALTOR® of RnEI Real Estate in Norwalk.  
 
Thomas Shea  graduates from Wooster School in June and will be attending Hobart and William Smith Colleges pursuing a Bachelor's Degree in Emergency Management/Public Health.  He was Student Body President his senior year, is a two-time recipient of the Wooster School Outstanding Citizenship Award and the 2015 Wooster Varsity Lacrosse Coaches Award winner.  Throughout high school, he has been an active Firefighter and Emergency Medical Responder for Weston Volunteer Fire and EMS Departments and was awarded the Weston Volunteer Fire Department and Emergency Medical Services Special Award in 2017. Thomas is the son of Caroline Shea, a REALTOR® with Camelot Real Estate in Weston. 

ETHICS CORNER

Case #4-3: Disclosure of Family Interest  
(Revised Case #13-4 May, 1988. Transferred to Article 4 November, 1994.) 
 
REALTOR® A listed Client B's home and subsequently advised him to accept an offer from Buyer C at less than the listed price. Client B later filed a complaint against ® A with the Board stating that REALTOR® A had not disclosed that Buyer C was REALTOR® A's father-in-law; that REALTOR® A's strong urging had convinced Client B, the seller, to accept an offer below the listed price; and that REALTOR® A had acted more in the interests of the buyer than in the best interests of the seller. 
 
At the hearing, REALTOR® A defended his actions stating that Article 4 of the Code requires disclosure when the purchaser is a member of the REALTOR®'s immediate family, and that his father-in-law was not a member of REALTOR® A's immediate family. REALTOR® A also demonstrated that he had presented two other offers to Client B, both lower than Buyer C's offer, and stated that, in his opinion, the price paid by Buyer C had been the fair market price.
 
 REALTOR® A's defense was found by the Hearing Panel to be inadequate. The panel concluded that Article 4 forbids a REALTOR® to "acquire an interest in" property listed with him unless the interest is disclosed to the seller or the seller's agent; that the possibility, even remote, of REALTOR® A's acquiring an interest in the property from his father-in-law by inheritance gave the REALTOR® a potential interest in it; that REALTOR® A's conduct was clearly contrary to the intent of Article 4, since interest in property created through a family relationship can be closer and more tangible than through a corporate relationship which is cited in the Code as an interest requiring disclosure. REALTOR® A was found to have violated Article 4 for failing to disclose to Client B that the buyer was his father-in-law.


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Market Trends

The following are statistics taken from SMART MLS records. 
                      


Continue to Show Listings
Single Family Homes 
  For: March  1 - June 20 , 2018

TOWN
UNITS
Average/ Median 
Market Time  
Norwalk
94
72/52
Weston
15
127/92
Westport
44
98/97
Wilton 
26
113/79
Fairfield 
74
70/54

Pending (Deposit) Listings:
 
Single Family Home s
For: January 1, - June 20, 2018

TOWN
UNITS
Average/Median 
Market Time
Norwalk
85
86/49
Weston
29
138/86
Westport 
55
125/91
Wilton 
17
113/67
Fairfield 
96
119/71
  
 
Please click the following link to view the above statistics as well as the Avg./Median price for Houses and Condominiums sold for  January 1, - June 20, 2018 & January - December '17, according to the CMLS.

New Members
MAY 2018

Affiliate Members
Total Affiliate Members - 33

O'Connor, Thomas
Affinity Federal
Credit Union

New Jersey



New REALTOR® Members
Total REALTOR® Membership - 1129

Benincaso, Vincent
Wm. Raveis
Norwalk
Caruso, Clifford
Platinum Property Realty
Norwalk
Cwintal, Cezary
Keller Wms Prestige
Stamford
Edwards, Tara
Higgins Group
Westport
Forland, Hans "Chris"
Coldwell Banker
Wilton
Ham, Melinda
Wm. Raveis
Westport
Johnson, Indre
Higgins Group
Fairfield
London, Barry
Weichert
Westport
Ramos, Wendy
Wm. Pitt
Westport
Sinay, Rachel
Higgins Group
Westport
                           
CE Connection

Clarification on Ethics -  Click here for NAR Mandatory Ethics requirements    A new two-year cycle began January 1, 2017. The deadline for this cycle is December 31, 2018.

If you did not take Ethics as one of your CE Classes and have not taken it since January 1, 2017, you will need to take an ethics class prior to December 31, 2018.  

Education Update:

Our online education provider The CE Shop has  received approval for CT Real Estate Agency Law Review & Fair Housing 1 & 2. You can now get a head start on your next renewal with their full offering of Continuing Education courses. Enroll in courses at http://mfcar.theceshop.com/
 

STAY CONNECTED: