February 22, 2018 

Roanoke Valley Associathion of REALTORS  

   You are receiving this online enewsletter as a benefit of being a member of the Roanoke Valley Association of REALTORS®.

REALTOR®            1,194 Membership Update Logo
Offices                      130
Affiliate                    272

Click here to see which RVAR members have switched firms, gone inactive, or joined recently.
Advocacy @ Work is an article aimed at updating members on what is happening in our region regarding Economic Development and/or Governmental Affairs.

Virginia's General Assembly has reached the half-way point for this 60 day session for the year. On Wednesday, February 14th, 21 RVAR REALTORS®, Affiliate members and staff attended Virginia REALTORS®' "Economic & Advocacy Summit" in Richmond. In addition to meeting with many of our region's Legislators, we had the opportunity to meet with Governor Northam, Lieutenant Governor Fairfax, and heard an economic update by NAR's chief economist, Dr. Lawrence Yun.
Virginia REALTORS® have several bills making their way through the General Assembly. Three of these bills are of particular interest to mention:
  • Team Legislation - Defines a Real Estate Team and makes it clear that Teams will have to obtain a business entity license. This legislation passed out of both the House and Senate unanimously and goes to the Governor for consideration.
  • Earnest Money Deposits - Establishes in statute a right for the Broker to give written notice to the parties and disburse an EMD in accordance with the "clear terms of a real estate purchase contract". Also, gives Brokers an option to give written notice of intended disbursement, with a 15-day "protest period" for one of the parties to object in writing (instead of the current 30-day period). This legislation passed out of both the House and Senate unanimously and goes to the Governor for consideration.  
  • Condo & POA Summary - Requires Condo & Property Owner Associations to provide a short summary of important information contained in the packet. This summary will provide buyers with a brief list of items that could affect their decision to purchase (e.g., pet restrictions, parking / vehicular restrictions, special assessments, etc.). This legislation was proposed by RVAR. This legislation passed out of both the House and Senate unanimously and goes to the Governor for consideration.
At the federal level, the budget deal signed by President Trump on February 9th contains a number of significant wins for real estate, backed by the National Association of REALTORS®:
  • National Flood Insurance Program extended until March 23rd, to give lawmakers time to work on longer term reauthorization. Adds $27 billion in mitigation funds to address issues arising from last year's hurricanes.
  • Mortgage Debt Forgiveness retroactively extended for 2017 tax year, to prevent homeowners who were forced to sell their home in 2017 through a short-sale or faced a foreclosure, from being taxed on the "phantom income" received when a lender cancelled their debt.
  • Deduction for Mortgage Insurance Premiums retroactively extended for 2017 tax year.
  • Energy Efficient Commercial Buildings Deduction retroactively extended for 2017 tax year for the cost, up to $1.80 per square foot, of energy-efficient commercial building property.
While the National Flood Insurance Program has been extended with the budget until March 23rd, NAR continues working with Congress on a version of the National Flood Insurance Program that includes a 5-year reauthorization extension and other important reform measures. If NAR issues a Call for Action, please respond quickly to help get the message to your member(s) of Congress.

  Article provided by Joe Sutliff, RVAR Director of Economic & Governmental Affairs.

Roanoke County is beginning two new planning studies focused on commercial corridors in the Hollins and Oak Grove areas. Much like the 419 Town Center project, the purpose of these studies is to reimagine what the areas might look like in the future -- including strategies to improve access to parks, shops, restaurants and amenities, as well as to enhance business development opportunities.

The Oak Grove Center Study covers 173 acres and more than 80 commercial and residential properties. The Hollins Center Study will focus on plans for a connected, mixed-use center in the heart of the Hollins community, comprised of 465 acres and more than 270 commercial and residential properties.

Click here for more information, including online surveys and dates for community meetings.
 Advertising Rule Change: Misleading Images adrules  

The 2018 Code of Ethics includes one change to Standard of Practice 12-10 related to misleading images. Therefore, a related change has been made to RVAR's Advertising Rules & Regulations:

Article VIII Websites & Electronic Advertising

New Section C. The obligation to present a true picture in representations to the public includes images. The use of misleading images, including images that have been excessively altered or distorted, is prohibited.

Click here to review RVAR's Advertising Rules & Regulations.

March 13th Deadline to Pay Supra Display Key Invoicedisplay  

Display Key Users: Be sure to pay your annual Supra Display Key invoice by the deadline - Tuesday, March 13th. The amount of the annual invoice is $194.33 (including tax and personal property tax.) Agents can go online to www.supraekey.com
for billing information - or to pay online - 24 hours a day, 7 days a week. If you have any questions about your invoice, contact Supra support at 877-699-6787.

Please note - this ONLY applies to agents who use the Display Key. Agents who have switched to the eKey (the app on your smartphone) are charged monthly by Supra. The new monthly amount charged will be $14.91 (including tax) starting with your March charge. 
Lockbox Access Hours to Change  lockbox

Daylight Savings Time begins on Sunday, March 11th. Standard lockbox access hours will change to 9:00AM - 9:30PM. This will not be reflected on any Supra reports - which will still show hours of 8:00AM - 8:30PM.
Economic Updateeconomic

T he "Economic Update" (formerly Speaker's Forum) is excited to present updates on timely topics that have an impact on you and your business.

Landon Howard, President of Virginia's Blue Ridge, will be our first presenter of 2018.  Landon will provide information on how Virginia's Blue Ridge is marketing the region to tourists and visitors, with a positive impact on your business.  

The first "Economic Update" will be held on Wednesday, March 21st at the RVAR office starting at 8:45AM with coffee, juice and pastries provided.  The presentation will begin at 9:00AM with a brief welcome followed by Landon Howard's presentation and include time for questions & answers.  We will conclude no later than 10:00AM.  
There is NO CHARGE to attend this event, but seating is limited.  Click here to register or contact the RVAR office.

The "Economic Update" has the goal of providing local, informative presentations regarding topics that affect you and your business. All REALTOR® and Affiliate members are encouraged to attend.

Join us in helping make a difference

The 2018 Community Service Committee would like you to join us as we kick off the new year with our first Service Day Project.

RVAR will be volunteering with Feeding America (1025 Electric Road, Salem, VA 24153) on Friday, March 9. There will two opportunities to volunteer, 9:00am - 12:00pm or 1:00pm - 4:00pm. There will be breakfast snacks and lunch available.

If you would like to join us click here to sign up for the AM shift or click here for the PM shift.

You can also call the RVAR at 540-772-0526 to have us register you for the shift of your choice.

Feeding America Southwest Virginia was founded in 1981 and proudly commemorates 37 years of fighting hunger and changing lives through community partnerships.

The Food Bank is an affiliate member of Feeding America and for the last three decades the Food Bank's ultimate mission has remained the same: eliminate hunger in the region.

The primary function of the Food Bank is to secure large quantities of food for the hungry. Over $28 million worth of food and grocery related products are channeled through a network of 353 partner feeding programs in our 26-county, 9 city region that provide food or meals to those in need.

If you would like to donate or get more information for Feeding America SW VIrginia please log on to their website at www.faswva.org.
 Charity of the Monthcharity
Each month we will highlight one of the 12 charities that RVAR supports through volunteering, donations and awareness. With the assistance of our Community Service Committee, we strive to give back to our communities and citizens that make up the beautiful Roanoke Valley.

Our February focus on charity and community outreach is the Rescue Mission.

From job loss, to domestic violence, to physical and mental health challenges and more; homelessness is a symptom of varying conditions. Besides providing food and shelter, through services such as employment training, drug and alcohol recovery, and intensive case management, the Rescue Mission tackles the root causes of homelessness in order to equip and empower people to live independently and intentionally.

With over 200,000 meals served, 80,000 nights of shelter given and 16,000 hours of classroom instruction in a year, the Rescue Mission is dedicated to making the lives of the individuals that walk through their door matter.

There are multiple ways to get involved with the Rescue Mission. For more information on donations or volunteering, please visit their website at https://rescuemission.net/.

Managing Seller and Buyer Expectations - RVAR's Education Committee will offer a free three-part series in March focused on managing Seller and Buyer expectations from before until after a transaction.

    March 6th    BEFORE the transaction (10:00-11:30AM)
    Prepare Sellers prior to listing their home AND help Buyers determine
    their wants, needs and financial comfort zone. Instructors: Christy Crouch (RE/MAX
    All Points) and Walter Grewe (Long & Foster)
    Click here to register.

     March 13th    DURING the transaction (10:00-11:30AM)
    Educate Sellers on showings, negotiations, inspections and repairs
    AND prepare Buyers on how to craft their offer and negotiate repairs.
    Instructors: Shannon Hines (Long & Foster) and Beth Wilson (BHHS
    Premier) Click here to register.

     March 20th    AFTER the transaction (10:00-11:00AM)
    Learn proven techniques for staying in touch with Sellers and Buyers after
    Closing. Instructor: Joan Turner (BHHS Premier) Click here to register.

Code of Ethics Training - This Thursday, March 23rd (1:00-4:00PM) class, taught by John Dickinson, not only provides 3 hours of CE credit for license renewal, but also meets NAR's ethics training requirement. NAR requires all REALTORS® to complete 3 hours of Code of Ethics training every two years. The current two-year cycle ends December 31, 2018. Click here to register. ( Can't make this class? RVAR will offer this class again on June 25th.)

Fair Housing - RVAR's Education Committee presents this class in conjunction with the Moseley Dickinson Academy of Real Estate, Friday, April 13th, 2:00-4:00PM at the RVAR office.
     New members: This class is FREE- earn 2 hours PL or CE credit.
     Existing members: Pay $10 at the door for 2 hours CE credit.
Click here to register.

GRI 501 Agency in Virginia - Well-known instructor Donna Austin will conduct this class on Tuesday, April 17th (9:00AM-4:30PM) at the RVAR office. This class will focus on Virginia legal requirements related to agency: brokerage relationships, agency, disclosure, confidentiality and transactions. CE credits = 3 hours Virginia agency + 3 hours Real Estate Related; PL credits = 3 hours Virginia agency. Click here to register.
Already have your GRI designation? Contact Louann Pagans to register for this class at the reduced rate of $45, includes materials and CE credits, but no exam.
Future GRI classes:
  • GRI 507 Ethics and Professional Responsibilities, May 22nd
  • GRI 502 Sales Contracts, October 23rd
Boost Your Knowledge on Wells and Septic Systems : Back by popular demand - RVAR's Education Committee, in partnership with Virginia Tech, will offer this class on Wednesday, April 18th, 10AM-Noon at the RVAR Office. This class will be taught by an instructor from Virginia Tech's Household Water Quality Program. This class will focus on testing, common problems, treatment options and maintenance. Click here to register for this FREE class.

Our RVAR Familyfamily


RVAR expresses sympathy to Karin Colozza of MKB, REALTORS® upon the recent death of her husband and to Rob Clark of MKB, REALTORS® upon the death of his sister.


RVAR congratulates Karen Hankins of Atlantic Bay Mortgage upon being named the Roanoke Regional Home Builders Association's 2017 Associate Member of the Year.

RVAR also congratulates Adam Lynch of Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate upon being presented with the Community Champion Award by the Smith Mountain Lake Regional Chamber.

Congratulations to the newly installed 2018 Officers and Directors of the Smith Mountain Lake Regional Chamber: Chairman Adam Lynch (Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate) and Directors Dana Montgomery (Berkshire Hathaway Homeservices Smith Mountain Lake Real Estate) and Christine Rizzio (Corridor Mortgage.)

Congratulations to Kit Hale (MKB, REALTORS®) upon being named by NAR as a 2018 Gold R President's Circle Hall of Fame Major Investor, for his significant contributions as an RPAC Major Investor.

Let RVAR know if you have news to share.   
Upcoming EventsUpcoming 

March 6th
March 9th
March 13th
March 16th
March 20th
March 23rd
March 30th
April 13th
April 17th
April 18th  
Managing Expectations: Before
Community Service: Feeding America
Managing Expectations: During
New Member Orientation
Managing Expectations: After
Code of Ethics Training
RVAR Office Closed for Good Friday
Fair Housing Training
GRI 501 Agency in Virginia
Well and Septic Class

  |  540.772.0526