Weekly Notices
Friday, February 26, 2021
   
 
 
QUICK LINKS: 

Forms Class
     
 
Special SAR-edition Class!
Friday, March 12th
 
 
Washington REALTORS® is offering a series of online, interactive classes with our Legal Hotline lawyer that will go over what you need to know for the new 2021 forms revisions.  
 
Previously scheduled classes with WR are full. Send an email to be put on the wait list:
 
 
  
Forms revisions will be published for use by members on March 3rd
 

Sign up now for a special SAR-edition of Annie's class:  
 
Friday, March 12th; 9 a.m. to 12:30 p.m.  
 
3.5 clock hours
  
 
 
 
 
 
 
 
 
Washington REALTORS® offers a recording of one of Annie's recent forms classes - it's the same content as a live class but does not qualify for clock hours.
 
If you'd like to watch it, the three-hour class is online here: 
 
 
 
New Forms, Hot Topics & Other Industry Fun
New Forms, Hot Topics & Other Industry Fun
 
 
Forms Changes 
 
 
 
This newsletter includes important information about upcoming forms changes, including: Legal Bulletin, Samples of Revised Forms, & Forms Update Classes.
 
Please read through this information carefully and be in touch with your SAR if you have any questions.


There are many NWMLS/Statewide forms being revised and several new forms that are being released on March 3, 2021.  
 
There are significant revisions to the Purchase and Sale Agreements, the Financing Addendum, the Inspection Addendum, and the Escalation Addendum.  
 
Other forms revisions are not substantive and include minor clarifications and updates to outdated vernacular.  

Legal Bulletin 219, which summarizes the forms revisions, and SAMPLE versions of the revised forms are linked below for review purposes - in both clean and redline formats:
 
Many forms will be available for order in hard copy from NWMLS on February 23, 2021 - please allow extra time for printing and shipping.  
The forms will be published for use on TransactionDesk on March 3, 2021.   
  
 
  
RPR: Refreshed Version Live Now! 
     
 
 
 
NEW!

 
For just over a decade, REALTORS® have relied on RPR to give them access to real estate data, powerful tools and client-friendly reports.  
 
The new, "refreshed" version, that went live on February 24th, offers the same excellent features REALTORS® have come to expect, but with many new elements and enhancements created with one user in mind-the REALTOR®.
 
Check out this thiree-minute video where NAR President Charlie Oppler covers the major highlights:
 
 
 
NAR President Charlie Oppler Walks REALTORS® Through the new RPR
NAR President Charlie Oppler
Walks REALTORS® Through the new RPR
  
 
 
 
 
Housing Needs Summit 
     
 
 
NEW!

 
The housing crisis in the Spokane region has reached a critical level and is threatening the stability of our region.  
 
That is the consensus of a panel of national and regional economists and housing experts who came together for a Spokane Region Housing Needs Summit hosted by the Spokane Association of REALTORS®, last week.
 
These experts were brought together to help us better understand the true housing needs of the Spokane region, and the answers they provided were alarming.
 
 
Read the executive summary of the Summit event online here.
 
 
See the entire Summit event online here (it runs about two hours): 
 
 
 
The Spokane Region Housing Needs Summit
The Spokane Region Housing Needs Summit
 
 
 
 
 
 
       
 
That's Who We R 
     
 
 
 
 
 
The National Association of Realtors®, this week, unveiled the newest iteration of its successful "That's Who We R" national branding campaign.  
 
Created in partnership with Havas Chicago, the series of television spots emphasize the positive impact Realtors® have on their clients and the communities they serve.  
 
The campaign advances NAR's advertising strategy to further distinguish Realtors® - members of the National Association of Realtors® and guided by the association's Code of Ethics - from non-member agents and listing apps.
 
 
 
 
Enjoy the new 2021 television and radio spots online here
 
NOTE: Because of licensing restrictions, this content is not available for local association or member use.
   
 
     
Dangerous Business Practices 
         
 
 
 
NEW!
 
   
Washington REALTORS® Legal Hotline lawyer Annie Fitzsimmons is seeing some dangerous business practices occurring in this seller's market.

So, this week, Annie continues a new video series with RE/MAX Integrity Owner Broker Paul Blumenstetter to focus on these dangerous practices with a goal of helping us all avoid them.

In Part 5 of this series, Annie and Paul discuss the practice of listing brokers with offer instructions suggesting that the buyers remove the "Information Verification" paragraph from Form 21. Contrary to what some brokers believe, they explain WHY the Information Verification Provision is actually beneficial to the seller.

The video runs about 10-minutes:


Dangerous Business Practices in a Sellers Market, Part 5
Dangerous Business Practices in a Sellers Market, Part 5





The fourth video in this series is online here - Annie and Paul talk about the risks for both sellers and buyers who have pre-inspections performed on properties for sale.

The video runs about 15-minutes:


Dangerous Business Practices in a Sellers Market, Part 4
Dangerous Business Practices in a Sellers Market, Part 4




The third video in this series is online here - Annie and Paul discuss the dangerous practice of buyers, who are often frustrated that they're unable to get a property, who choose to make offers that waive all inspections. They'll cover risks to the buyer, buyer's broker, and listing broker.

The video runs about 17-minutes:


Dangerous Business Practices in a Sellers Market Part 3
Dangerous Business Practices in a Sellers Market Part 3





The second video in this series is on-line here - in this video, Annie and Paul discuss dangerous practices on behalf of buyer broker's and how to protect yourself and your firm from future lawsuits if your buyer decides to make risky offers.

The video runs about nine-minutes:


Dangerous Business Practices in a Sellers Market Part 2
Dangerous Business Practices in a Sellers Market Part 2





The first video in this series is online here - it covers things Annie is seeing from listing brokers.

The video runs about 20-minutes:


Dangerous Business Practices in a Sellers Market, Part 1
Dangerous Business Practices in a Sellers Market, Part 1
  
 
 
 
SAR Professional Development 

 
SAR Professional Development 
 
   
 
Please be in touch with Tami at the SAR if you have any questions about classes or your license education requirements, by phone at 326-9222 or by email.
 
   
 
 
   
 
 

TODAY!
 
Successfully Selling HUD Homes  
Friday, February 26
9 a.m. to noon
 
 
This course will prepare you to successfully sell HUD Homes. You'll learn the NAID application portal; how to find inventory and place bids; bidding tips and understanding bidding timelines; how to understand HUD's contract and addendum's and so much more.
 
   
 
 
 
 
 
NEW! 
   
Purchase & Sale with Sabrina Jones Schroeder 
 
THIS CLASS REQUIRES A SPEAKER & YOU TO BE ON CAMERA. BE PREPARED!
Two day Zoom class - both days required
 
Tuesday 3/9             8:30 am - 12:30 pm  
Thursday 3/11         8:30 am - Noon
 
This mandatory course will include: An introduction and discussion of intentions, goals and purposes in properly completing the new Purchase & Sale Agreement; the deposit, parties and property; financing and the financing contingencies, title insurance and transfer and inspections; representations and disclosure; and remaining provisions.
 
This class must be taken once every four years. 

 
 
 
 
 
 
NEW! 
 
 
Success Basics for Landlords and Property Managers with Eric Bessett (Zoom class) 
 
Wednesday 3/17     1:00 pm - 4:00 pm
 
THIS CLASS REQUIRES A SPEAKER & YOU TO BE ON CAMERA. BE PREPARED!
This course is divided into three distinct sessions: (1) Landlord-Tenant Law (including SB5600), (2) Forms, Notices & other documents (3) Practical, Real-World Best Practices. Come receive a comprehensive overview of how to property navigate the legal, practical and technical landscapes within this housing segment. 
 
3.0 clock hours  

 
 
 
 
   
 
 
 
 
 
 
Enter code 199WB and get
all of 2021's webinars for $199!
 
 
 
   
 
   
 
   
In This Issue
Forms Class
Forms Changes
RPR: Refreshed Version Live Now!
Housing Needs Summit
That's Who We R
Dangerous Business Practices
SAR Professional Development
SAR CALENDAR
SAR 2021 Dues Past Due!
Homes in High Demand
Eviction Moratorium
Race and Home Buying in America
WR Spring Business Conference
2021 NAR Legislative Days
That's Who We R - Digital Assets
SAR Member Roster Update - January
SAR Market Activity Report - January

SAR CALENDAR
 
Click on the image below to see
the current SAR calendar showing dates and times
of classes, committees, and events. 
 
SAR 2021 Dues Past Due! 

   
LAST CHANCE THIS WEEKEND! 
 
 
Your SAR dues for 2021 are now past due.
 
Thank you if you have already paid them!
 
Annual Dues must be received or postmarked by February 28th, and must include the 10% late penalty, in order to retain your membership and access to the MLS system. 
 
 
 
Click on the image above to pay your SAR dues for 2021 online now. 
 
  
  
Homes in High Demand 



 
NEW!

The Spokane Association of Realtors' January report showed there was about a 10 day supply of homes in January 2021.

In January 2020, it was a one month supply. Anything under a three month supply is a sellers market, said Eric Johnson, a realtor and president of the association.

"I've been doing this 26 years and I can't remember a time when it was lower," he said.

Normally during the winter months, they have lower sales and fewer listings, however there are just many buyers looking during a time where there aren't as many homes for sale.

"I think this is probably one of the busier winters we've ever had," he said.
 
 
 
 
See the full report on KXLY online here. 
 
 
 
Eviction Moratorium 

 
   
NEW!
   
 
In Spokane, selling a home is becoming more lucrative right at the moment that renting property is becoming more difficult.
 
"We're seeing large double-digit price increases in price year to year. The Demand for housing in Spokane is about to skyrocket," says Darin Watkins, government affairs director for the Spokane Association of Realtors. "I am telling you a tsunami is coming."

 
 
Read the full article in this week's edition of the Inlander, online here.
 
  
  
Race and Home Buying in America 

 
 
   
NEW!
 
Minority homeownership stubbornly lags behind the national rate, with Black Americans facing some of the toughest hurdles to achieving this essential part of the American Dream, according to the National Association of Realtors®.  
 
The homeownership rate for Black Americans - 42% - is nearly 30% less than the rate for white Americans - 69.8%.  
 
The U.S. homeownership rate stands at 64.2%, with the rates for Asian and Hispanic Americans at 60.7% and 48.1%, respectively.
 
 
Read the NAR News Release online here.
 
 
 
   
Read the 2021 Snapshot of Race and Home Buying in America report online here. 
  
   
 
 
   
WR Spring Business Conference 

 
  SAVE THE DATE! 
April 19-23

 

The Washington REALTORS® Spring Business Conference will be virtual and will take place
April 19-23, 2021.

The Conference will include guest speakers open to the entire membership, the WR Awards Ceremony, and our association business meetings.

Mark your calendars and stay tuned for more details in the coming weeks!

 
 
2021 NAR Legislative Days 

 
 
May 3-14
Registration Open Now! 
 
 
 
After careful consideration, the 2021 REALTORS® Legislative Meetings, now scheduled for May 3-14, 2021, will be virtual this year.  
 
Please view this video message from NAR President Charlie Oppler for more information surrounding this decision.   
 
 
2021 REALTORS® Legislative Meetings Going Virtual 
2021 REALTORS® Legislative Meetings Going Virtual
 
 
Registration is open now! 
 
The event website is online here.
    
 
   
That's Who We R - Digital Assets  
     
 

 
 
The National Association of REALTORS® has created a variety of digital assets to support the That's Who We R campaign with members in the field.
 
The graphic above is one such example - available online here.
 
You are free to use this image on your social media channels, website, or as you may otherwise choose.
 
Check out the entire library of shareable campaign assets online here
 
     
SAR Member Roster Update - January

 
Updated for January
 
Click here to view the latest Member Roster Update (pictured above) - approved by the SAR Board of Directors at its most recent meeting.
   
Send a message to Brenda at the SAR with any changes.  
 

SAR Market Activity Report - January 
        

Market Activity Reports  
 
   
NEW!
Updated for January 
  
 
The SAR Market Activity Report for January is now online.
 
See the latest full report - a member-exclusive product
- and archived full reports, online here.
 
 
 
 
    
 

See the January 2021 Market Snapshot Report
(pictured above) online here.





See the 2020 Year End Market Snapshot Report (pictured above),  online here.



Quick Information
2021 SAR Leadership

This weekly newsletter is a member benefit of the

SPOKANE ASSOCIATION OF REALTORS®
 1924 North Ash Street 
Spokane, Washington 99205
T: 509. 326.9222
F: 509. 324.8650

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