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These FREE classes will help you:

• Better understand how to use the MRMLS Matrix
• Improve your ability to service your clients

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We want YOUR agents to be efficient when using the MRMLS Matrix system.  If your office would like a private course taught to 15 or more agents, click here to schedule a course, or call (800) 925-1525

This month we provide a brief overview of two recent acts which impact the real estate industry:  (1) the SAFE Act which must be complied with by January 1, 2011, and (2) HAFA which was recently enacted.

THE SECURE AND FAIR ENFORCEMENT MORTGAGE LICENSING ACT OF 2008

The Secure and Fair Enforcement Mortgage Licensing Act of 2008 (“SAFE Act”) became federal law on July 30, 2008, and California law in October 2009.  The California law requires all DRE real estate licensees who conduct residential mortgage loan originator (MLO) activities to meet certain requirements to qualify for a MLO real estate license endorsement by January 1, 2011.  The SAFE Act requires completion of 20 hours of pre-licensing education and passing a written qualified test.  Currently licensed MLOs must pass both the National component and the California State component of the examination with a test score of not less than 75 percent.  Existing MLOs must pass the National and the State component by September 15, 2010 in order to be issued an MLO license endorsement by January 1, 2011.

Besides passing the written qualified test, the SAFE Act requires licensees to submit a set of fingerprints and to pay a $39.00 fee to have a criminal background check performed. Furthermore, MLOs must demonstrate financial responsibility by authorizing a credit report to be obtained.   Finally, MLO endorsements will be issued annually and will expire each year on December 31^st.  A licensee must  complete 8 hours of continuing education each year to renew his or her license.

Continue reading ‘Courtside Newsletter: April 2010’ »

Just a couple updates – We had a terrific time in Sacramento the first week of June. This year we again brought a few of our Realtor® Action Fund investors up for our Legislative Day. Though the Legislative Schedule was very hectic owing to the session cross-over date, we were able to visit briefly with Assemblymember Kevin Jeffries outside the chamber, and with both Jeffries and Senator Dennis Hollingsworth at our Realtor® Reception that evening.

We got a rousing talk from former (and future?) Governor Jerry Brown. Jerry is a somewhat mellowed version of his former self and an altogether likeable fellow. He talked about the benefits of experience over the glamour of youth, a position he did not espouse when he last talked to our group in 1977.

Continue reading ‘A Big REALTOR® Party Win – Thanks to YOU.’ »

Realist Tax will be temporarily offline Monday, April 5th from 7pm to 10pm for system maintenance.

And Smart Trac & Smart Fax will be temporarily offline Tuesday, April 6th from 7pm to 7:30pm for system maintenance.

MRMLS Matrix, Pinpoint, Mercado and other MRMLS products and services will be ONLINE during this time.  It is recommended to run your searches in Realist Tax prior to this time.

(changes in RED)

Changes to MLS Rules & Regulations

4.10  Authorization for Mandatory Training.  Participants and Subscribers may be required, at the discretion of the MLS, to complete additional training of not more than four (4) classroom hours in any twelve (12) month period when deemed necessary by the MLS to familiarize participants and subscribers with system changes or enhancements, and/or changes to MLS rules or policies.  Participants and subscribers must be given the opportunity to complete any mandated additional training remotely.
9.2  Disclosing the Existence of Offers.  Listing brokers, in response to inquiries from buyers or cooperating brokers, shall, with the seller’s(s’) approval, disclose the existence of offers on the property.  Where disclosure is authorized, the listing broker shall also disclose whether offers were obtained by the listing licensee, by another licensee in the listing firm, or by a cooperating broker only if asked.
13.6  Required Lockbox.  If a lockbox is present on a Residential or Residential Income (1 – 4 Units) property which is located in the CARETS service area and is listed for sale or lease in the CARETS system, the lockbox must be an electronic lockbox that is accessible by a key issued by one of the CARETS members.  More than one lockbox may be used on a property as long as one of them meets the criteria above.

Changes to Data Integrity Standards

New construction properties for which an APN has not yet been assigned by the Assessor or properties without an assigned APN can be handled in two ways: 1) Input an APN that is entirely blank.  This is the ONLY time a blank APN may be entered, 2) Input the previous APN of the land upon which the property is being built.  In either case, when an APN is assigned by the Assessor’s office, it should immediately be input to the MLS.

• Duplicate Listings

There shall be only ONE active record in the MLS database for each PROPERTY TYPE that is for sale or lease. Duplicate listings are misleading, skew the statistics, and make Comparative Market Analyses (CMAs) cumbersome and often incorrect.

Brokers and agents accessing the MLS as a member of CDAR/Desert Area MLS are subject to the CARETS MLS Rules and Regulations and Data Integrity Standards.