Agents throughout the country continue to be concerned about what the new Federal Trade Commission (FTC) rules on short sales mean for the industry.  NAR's response:  REALTORS® should not be held responsible for complying with this rule as it was never intended to impact real estate professionals.  NAR is currently working with the FTC to clarify implementation of the rule and while these discussions are ongoing, the FTC will NOT enforce the disclosure rules for listing agents. 

Despite that very encouraging fact, VAR has heard the cry for some sort of standardized disclosure and has put together this form and this form for use by agents and brokerages.  Feel free to use and adapt to your own purposes, but remember, the disclosure requirement may not be here to stay and it is not currently being enforced.  The upfront fees prohibition and the requirement that agents negotiating a short sale not prevent their clients from contacting the lender on their own remain intact.  

Posted on FAAR Forum by: Kim McClellan

*RECA's Short Sales course has been updated to include information about MARS

Many agents have heard of the new agency legislation HB 1907 which includes:

1. All brokerage agreements must be in writing;

2. Dual Agency will be permitted only after an enhanced disclosure is given to both parties;

3. A mandatory 3-hour CE course must be completed on the changes from this bill;

4. The Residential Property Disclosure Act will be kept on a website maintained by the Real Estate Board and purchasers will be given a form referring them to that website;

5. Real estate licensees will be provided immunity from lawsuits when relaying publicly available information from localities that turns out to be inaccurate; and

6. Clarification on retention of paper documents versus electronic real estate files.

*VAR is currently designing a course to meet the education piece of this legislation for use by all local associations.  The association will notify all its members once we receive that course, so that you may meet state requirements and be well informed about the agency changes.   

For more information about this legislation contact Kim McClellan at kmcclellan@faarmembers.com

CE/PL Seminar

Starts April 5: Meet all your license renewal requirements in just a few days or sign up for individual classes.

Courses included in the seminar: Ethics, Fair Housing, Contracts, Short Sales, Escrow, Addendum, Personal Marketing, Technology Marketing, Finance. Click here for more information. Sign up for the entire seminar & save up to 20%

*At the door registration is available

ABR Designation Core with Short Sales/Foreclosure Elective

Starts April 19: ABR Designation Course prepares real estate professionals to represent buyer-clients in real estate transactions and provide the quality of service and degree of fidelity to buyers that sellers have customarily enjoyed. In addition, this course will offer ideas and methods for building a buyer representation business. 

SFR Elective- Real estate foreclosures have been increasing and will continue to do so as interest rates on subprime adjustable rate mortgages reset. This course examines how real estate professionals can help buyer-clients prevent foreclosures as well as how to counsel buyer-clients who want to invest in pre-foreclosure or foreclosed properties. 

Click here for more information

Click here for internet registration

Did you attend FAAR's Awards Dinner?  

For a limited time, when you attend a FAAR Event or RECA Course you'll receive the opportunity to attend that month's Trending Topic Seminar for FREE.   

*For the month of April if you donate to YPN's school supply drive at the door you can also receive the course for free. 

THIS MONTH'S TOPICS 

April 11th

12:30- 1:30 Understanding Deeds & Tenancy 

This course is intended to be an overview of deed instruments and their use in real estate transactions. There are two primary focuses in this course. The first is the elements of a deed. The second is the considerations involved for Purchaser and Seller clients, with special emphasis on the types of deed warranties and deed tenancies available when there are multiple purchasers taking title together.

1:30-3:30 Bradford Tax Strategies

This seminar helps identify between $2,500 and $27,000 in NEW deductions that can be used right away to pocket thousands in tax savings. These deductions are based in tax law and presented in an easily understood format.

Even though you're attending for free do you need to register? YES! Without an accurate head count courses could be cancelled.  

Click Here to download registration form and fax to 540-736-0301 

*Sorry no online registration for free courses.

Instructors Wanted

Do you want to elevate the real estate industry and diversify your expertise while supplementing your income and getting free continuing education credit?

Look into becoming a RECA instructor, [click here] more information

If you're in the market for a smartphone all the new features and specs can be confusing at best.

The iPhone 4, EVO 4G, Droid X, all new and ready to go, but which one is best for you? 

This extensive-but easy to read!-chart will help you navigate the world of smartphone features and specifications.

Click here to view the chart

Source: http://lifehacker.com

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