The TAR Digest: The Membership Newsletter of the Tennessee Association of Realtors
HomeTennessee Association of RealtorsTAR EducationNational Association of RealtorsContact




  Printer Friendly Version Printer Friendly Version 9-9-14 TAR DIGEST
Posted by Pug | Comments Off

The 9-9-14 Newsletter of the Tennessee Association of REALTORS
Editor: Pug Scoville


1. Upcoming COURSES & EVENTS
2. Tennessee Loses a Good Friend
3. Why Sellers Need a Realtor To Price Their Home
4. FREE Safety Webinar
5. Beating Burnout!
6. TECH TIP: Want To Be a Great Designer?
7. HOT LINE: Unwanted Receipt of Inspection Reports?
8. HOT LINE: Property Not Listed After All?
9. HOT LINE: Counteroffer Accepted After the Deadline?
10. Check Your Own CE Hours, Etc.

“Don’t confuse fame with success. Madonna is one; Helen Keller is the other.” — Erma Bombeck

NOTE: If you’re reading this on a mobile device (iPhone, etc.), GO HERE for a mobile-friendly DIGEST.


1. Upcoming COURSES & EVENTS

Sept. 17-19: TAR Annual Convention, Chattanooga, TN.

Sept. 24: GRI 401, Doing the Right Thing (6 hrs. CE) – KAAR Office, Knoxville, TN. For more information or to register, go HERE.

Sept. 25: GRI 402, Staying In Business & Out of Court (6 hrs. CE) – KAAR Office, Knoxville, TN. For more information or to register, go HERE.

Sept. 26: GRI 403, Working More Effectively With Buyers (6 hrs. CE) – KAAR Office, Knoxville, TN. For more information or to register, go HERE.

Sept. 24-26: SAVE $55! If you use our GRI EXPRESS option to enroll in all three of the GRI courses above at the same time, you can save $55! To do so, go HERE.

To see our complete 2014 GRI Schedule, go to: http://www.tarnet.com/education/gri/

Why Should YOU Earn Your GRI? 10 Reasons!

To see upcoming offerings of TREC CORE COURSES, ABR COURSES, etc., – at locations around the state – go to the TAR Calendar at: http://www.tarnet.com/meetings-and-events/calendar-of-events/


2. Tennessee Loses a Good Friend

The real estate industry in Tennessee and across the country lost a very good friend in the untimely death of Colorado Attorney Oliver Frascona. Oliver died in an airplane accident recently, and he will be greatly missed by all who knew him or had the pleasure of learning from him.

Oliver Frascona taught the very first CE-accredited education session (“The Paper Trail“) for TAR when the CE requirement first took effect in 1988. After that, for well over two decades Oliver continued to be perhaps the most popular instructor on risk reduction topics for TAR at countless Conferences and Conventions. He loved coming to Tennessee, and Tennessee Realtors loved him.


3. Why Sellers Need a Realtor To Price Their Home

Inman News just republished (from ActiveRain) a useful article by Realtor Thomas Pidgeon (“3 reasons sellers need a Realtor to price their home“), that might help you show homeowners why professional pricing advice is superior to online automated valuation services.

If you’re not able to quickly and easily demonstrate your own value in pricing a seller’s home, this article will at least give you some talking points!

To read it, go HERE.


4. FREE Safety Webinar

September is Realtor Safety Month, and NAR is offering a FREE webinar to help you teach home owners about safeguarding personal property and information while opening their home to buyers in an open house! “Safety Tips to Share with Sellers” is Tuesday, Sept. 9, at 1PM, Central Time.

To register for FREE, go to: http://www.realtor.org/topics/realtor-safety/webinars


5. Beating Burnout!

Almost every Realtor confronts burnout, if you work as a real estate professional for any length of time. It’s probably the foremost “occupational hazard” of this business!

A recent article on Inman News (“What to do when you’re burned out from your real estate career“), authored by one of our TAR members — Clarksville Realtor Debbie Reynolds — addresses this issue head-on:

*** BEGIN QUOTE ***
Now is the time for confession: In my 34 years of real estate I have been at burnout more than once. In fact, it hit me so hard once that I was considering other options for a career far away from real estate. In the middle of burnout, I continued to drudge through my workdays, was grouchy and didn’t find many joyful moments in my day. This went on for weeks, months. I did a lot of self-talk and praying to work on my attitude, but it didn’t seem to get any better. People noticed that I was less effective and not a pleasure to be around.
*** END QUOTE ***

To find out what Debbie did to break out of her slump, go HERE.


6. TECH TIP: Want To Be a Great Designer?

No graphic or layout experience needed!

There is a great online program you should investigate: http://www.canva.com

Using this online tool, you can produce beautiful flyers, social media banners and presentations inexpensively or at NO cost. Again, no layout experience is needed!

You lose nothing by taking a few minutes to explore this site, so give it a try. As we’ve reminded readers before, good visuals create interest!


7. HOT LINE: Unwanted Receipt of Inspection Reports?

QUESTION: According to the TAR contract, the listing agent and seller are to get a copy of the home inspection report ONLY if requested in writing. I continually have agents send me the entire report without it being requested; they send it with the proposal. Is there any recourse for agents sending the report without it being requested?

ANSWER: Unfortunately, there is not a lot that you can do regarding this practice. Language was included in the TAR purchase and sale agreement to give the seller control over what was required to be presented to them.

TAR included this language in the form because the practice you’re describing creates a huge burden and responsibility on agents. Agents then have to read and assess an entire report and may honestly not understand that a particular item mentioned in passing in the report constitutes an adverse fact. Therefore, the TAR form now states that the report would only be provided in the event that the seller requests it. Listing agents should ALSO advise sellers, in the event that they request the entire inspection report, that if anything within the report constitutes an adverse fact the agent is now obligated to disclose it to any and all prospective buyers.

Pursuant to Tenn. Code Ann. 62-13-403(2), a real estate agent is required to “[d]isclose to each party to the transaction any adverse facts of which the licensee has actual notice or knowledge.” Tennessee law defines an adverse fact as “conditions or occurrences generally recognized by competent licensees that have a negative impact on the value of the real estate, significantly reduce the structural integrity of improvements to real property or present a significant health risk to occupants of the property.” — Tenn. Code Ann. — TCA 62-13-102(2).

Another issue is that the inspector could note things that are incorrect. In that event, you would have several options: the seller would have to get a report from an expert to determine that the inspector was incorrect, or you would have to disclose it. There are times when an inspector notes things that are incorrect. This then places the seller and the listing agent in a precarious situation.

[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]


8. HOT LINE: Property Not Listed After All?

QUESTION: I represent a buyer on a contract. The owner does not have a listing agreement with an agent, although an agent led me to believe that they represented the owner. I sent the offer through this agent believing they had the listing, but the owner called me directly and stated that the prior listing was a one-month listing that expired in May. Can we void the offer sent through this agent? Can I deal directly with the owner?

ANSWER: You do not necessarily have to void the offer. You can simply submit it to the owner directly as long as there was nothing regarding agent compensation and the offer expiration date has not passed. If either of the above is true, however, then you should formally withdraw the offer in writing and resubmit the offer to the seller directly. Otherwise, you can simply submit a new offer to the owner directly. Since the property is not listed, you may want to consider using form F22, the Agreement to Show Property. This will provide that the seller will pay your commission, rather than your buyer.

[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]


9. HOT LINE: Counteroffer Accepted After the Deadline?

QUESTION: How do you handle a situation where a counteroffer is presented and is accepted after the allowed date/time?

ANSWER: Technically speaking, once an offer or counteroffer expires, it is over and cannot be accepted. It is possible to “revive” an offer, but it would require very specific language to do so. The simplest way to handle this situation is to simply have a new offer signed. This is the simplest and cleanest way to handle the situation. In the event that one of the parties wanted out down the road, they could raise the argument that there was no contract since it was accepted after the offer had expired.

[SOURCE: TAR's Legal & Ethics Hot Line Attorneys]


10. Check Your Own CE Hours, Etc.

To check your CE credits on file with TREC, go to: http://verify.tn.gov

To go to the TAR website: http://www.tarnet.com

To access current and past TAR DIGESTS: http://www.tardigest.com

Follow TAR on Twitter at: http://twitter.com/tnaor

TAR’s LinkedIn page: http://www.linkedin.com/groups?gid=852077&trk=hb_side_g

TAR’s page on Facebook: http://www.facebook.com/pages/Nashville-TN/Tennessee-Association-of-RealtorsR/15041383689

To ask a TAR Legal and Ethics Hot Line question: http://www.tarnet.com/services-support/legal-ethics-hotline/

For CE classroom courses around the state, go to: http://www.tarnet.com/education/realtor-courses/

For online CE courses, go to: http://www.tarnet.com/education/online-courses/

Tennessee Real Estate Commission: http://tn.gov/regboards/trec/


 

Previous Issue »

©The TAR Digest | All Rights Reserved | Switch To Mobile Version | Website By Nathan Grimes Design