Temecula Valley
 
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SRCAR - 26529 Jefferson Ave, Murrieta, CA 92562

MURRIETA:
26529 Jefferson Ave.
Murrieta, CA 92562

MENIFEE:
27070 Sun City Blvd.
Menifee, CA 92586


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Suggestion Box

Archive for February, 2010

At our Mid-Winter Board of Directors meeting February 4, 2010, the California Association of REALTORS overwhelmingly voted on a motion out of the Political Affairs Committee to Begin assessing every REALTOR the amount of $49 effective in 2011 for the purpose of funding our political activities.

At the urging of the Government Affairs Director sub-forum, CAR adopted the concept during our October 2009 meetings, directing legal staff to determine the most efficient way to implement the policy.

The determination, published as an Issues Briefing Paper prior to Januarys meeting, recommended a ‘political assessment opt-over approach’, which was ultimately the direction voted on by the BOD. The opt-over provision allows the member to determine whether the investment amount shall be directed toward the REALTOR Action Fund or ‘opted-over’ to an alternative account.

With over $19 million spent during the past year, NAR ranks as one of the top ten lobbying organization in the country and the #1 grassroots trade association lobby in Washington. Having achieved so much on behalf of our members and for our customers private property rights, we cannot abandon that position now. We’ve invested too much time and money to make it happen, we can’t simply walk away from the opportunity we’ve created for ourselves.

Since 2000 the CAR political action committees (PAC’s) have grown and shrunk based on membership numbers and the real estate market. In the 2001-2002 election cycles, the PAC’s were funded by $3.8 million of voluntary political contributions. By 2006-2007, the PAC’s funding had increased to $10.1. Million In the past three years those receipts have fallen to just$2.5 million for 2009.

As our organization faces increasing challenges at the local, state and federal level, that amount is simply not enough to keep us as a serious player in the political arena.

Please reply with any comments, questions or concerns. We’d love to hear from you.


The CALIFORNIA ASSOCIATION OF REALTORS® and Los Angeles Times present the

Southern California Home Buyer’s Fair

WHAT: The Southern California Homebuyer’s Fair, sponsored by the CALIFORNIA ASSOCIATION OF REALTORS® and the Los Angeles Times.

Educational seminars will be presented in English and Spanish and cover a wide range of topics,
including:

  • How to Find and Qualify for a Home Loan
  • Keeping Score: How to Monitor and Fix Your Credit
  • What to Know Before You Buy
  • How to Buy a Short Sale, REO, or Foreclosure
  • How to Save for a Home of Your Own
  • Finding and Working with a REALTOR®, and more!

WHERE: The Los Angeles Convention Center in Downtown Los Angeles, 1201 S. Figueroa Street, Los Angeles, CA 90015.

WHEN: Saturday, March 13, 2010, from 10 a.m. to 5 p.m., and Sunday, March 14, 2010, from
11 a.m. to 4 p.m.

WHY: This two-day event is free to the public and will include educational “how-to” seminars designed to help home buyers navigate today’s real estate market with confidence and peace of mind.

EXHIBITORS: The Southern California Home Buyer’s Fair also will feature exhibit booths, where
visitors can obtain information from industry experts about a vast range of programs pertaining to
homeownership and the home-buying process.

SPECIAL PROMOTIONS: Free movie tickets to the first 200 attendees each day(one ticket per person).

ADMISSION: FREE

FOR MORE INFORMATION: Please visit www.homebuyersfair.com

Dear Valued Customer,

On Friday, February 12th starting at 7:30pm PST through Saturday, February 13th at 3:00pm PST,  GE Security will be conducting routine maintenance at our data center. During this time SupraNET, Agent Web Pay and IVR will not be available. Keyholders will be able to eSYNC, get voice updates and log into KimWeb during  the maintenance period. Supra Keyholder Support, 877-699-6787, will be available to provide assistance for any keyholder who needs to update their key.

Thank you,

GE Security Support Team

Describing CommissionsUnderstanding the different ways to describe commissions on the MLS often can be misunderstood. Selling Office Compensation is a required field and must be entered as a percentage or fixed dollar Amount.  In addition, any specific conditions related to estate sales, probate listings, auctions, sales dependent on lender approval or other special circumstances must be entered in Agent Remarks. Below are some typical questions and answers that should help clear the obstacles when placing your listing on the MRMLS Matrix system.

Questions and Answers:

Q. What is a Dual Variable Rate Commission?

A. The CARETS Rules and Regulations section 7.22 provides that a dual or variable commission is one in which the seller agrees to pay a different commission if:

  • The Listing Broker represents both the Seller and Buyer (dual agent) or
  • The Seller finds the buyer themselves: or
  • The Listing Broker is not the Selling Broker.

In situations like these, you must disclose this information by using the Dual Variable Rate field when you add a listing in MRMLS Matrix.

Q. Is Selling Office Compensation based on Gross or Net Sales Price?

A. Selling Office Compensation is calculated on the Gross Sales Price. If applicable, listing brokers can invite a cooperating broker to “contact the listing broker for terms of additional compensation” in Agent Remarks.

Q. Are Conditional Offers of Compensation allowed on the MLS?

A. No. Conditional or discriminatory language regarding the payment of compensation is not allowed in public or agent remarks. Examples of discriminatory language include: “If the listing agent shows the property first to a buyer, total selling office compensation will be reduced to ’x‘%”, or, ’y’% compensation is given for full price offers, or ‘z‘% compensation if offers are less than full price.”

Q. How can I protect myself if the cooperating broker insists on the originally offered commission when the commission is reduced by the lender?

A. The CARETS MLS Rules and Regulations Section 7.15.2, which mirror the C.A.R. Model Rule, allows the listing broker to reduce a commission offered in the MLS to the cooperating broker if the lender reduces the overall gross commission it pays to the listing broker.  In order to receive protection of this rule, a listing broker or agent is required to publish in the Agent Remarks field (a) the fact the sale and gross commission of the listing are subject to lender approval, (b) the amount or method by which the compensation offered through the MLS will be reduced if the lender reduces the gross commission and (c) to disclose the listing is a Short Sale.

Readers who require specific advice should consult an attorney. C.A.R. members requiring legal assistance may contact C.A.R.’s member legal hotline at 213-739-8282, Monday through Friday, 9:00am to 6:00pm.  Broker-owners, office managers, or designated REALTORS® may contact the member legal hotline at 213-739-8350.  Or you may email your questions to legal_hotline@car.org or fax to 213-480-7724.

Total number of votes – 403

YES on Proposal to amend Bylaws – 312 (77.42%)
NO on Proposal to amend Bylaws – 48 (11.91%)
ABSTAIN – Vote counts towards quorum only – 43 (10.67%)

With the votes in, counted, and verified, the ballot has passed and the Association Bylaws will be amended.