REMINDER: ALL FLYERS ARE INCLUDED IN THE WEEKLY BROKER FAX

General Membership Meeting Summary
The association would like to thank everyone who attended Tuesday’s Broker Forum & General Membership Meeting.

The Board of Directors voted not to move forward with a new MLS vendor and to extend the ARIS contract one year, if ARIS will agree to do so.

CAR recently commissioned a report by The WAV Group comparing ARIS to MRIS. You may read this report by clicking here.

The original goals of the June 19 meeting were to: 1) Receive feedback from members regarding MLS options; 2) Answer questions posed by the petition; and 3) To update members on other association matters. Since not all topics were discussed, a PDF of the originally scheduled PowerPoint presentation may be found by clicking here.

A question was asked regarding the association’s policy to allow out-of-area brokers to join ARIS without requiring all Maryland licensees in the broker’s office to join ARIS. Al Monshower explained that NAR allows Boards and Associations to establish policies on out-of-area brokers. He also explained that the association has signed reciprocal agreements with associations throughout Maryland and Northern Virginia, which allows members of these associations to access lockboxes in our jurisdiction and, likewise, allows our members to access lockboxes throughout Maryland and Northern Virginia.

In addition, below is an update on State Issues & Government Affairs that was to be discussed at the General Membership Meeting.

• HB 448—Tax on Services
  On March 14, CAR chartered a bus to take our members to Annapolis to the REALTOR® Rally at the State House to lobby against this bill. The 20 concerned agents joined with the other agents from all over the state to protest. We were able to get the bill tabled. The Bill is going to come up again at the Special Session (Oct.1 or 2). If you want to get fired up about something, get fired up about this bill. Delegate Mathias came to our Government Affairs Committee meeting last month. He told us he was going to vote in favor of the bill. This would impose a sales tax on your plumber, HVAC company, barber, manicurist, cleaning company, and most importantly your REAL ESTATE COMMISSIONS. The tax would be somewhere between 6 to 8 percent. Now is the time to lobby your representatives and let them know you are opposed to "Tax on Service." I am sure you are all on the MAR Call to Action list. Be on the lookout for updates. If you haven’t responded to Calls to Action in the past few months, here are the directions:

• Visit www.mdrealtor.org
• Click on Government Affairs
• Click on the MAR Legislative Action Center to contact your legislators directly

• Homeowners and Flood Insurance
  MAR asked previous CAR President Pat Terrill to speak to a committee at the State House along with the largest insurance carriers in Maryland. The issue was, of course, the high cost of insurance in our marketplace. Terrill, along with MAR Legal Counsel, gave reports on the unusually high rates that are a hardship to the homeowners and the prospective purchaser. Why should a company reap the benefits of million of dollars in premiums on the Western Shore and not be willing to cover a property on the Eastern Shore for a fair value? The Committee seemed to agree. They tabled their decision until next session. Terrill will have the documentation they requested and be present when this topic comes up again. If you have any knowledge of a hardship posed to your buyers, please e-mail the details to Pat at pat.terrill@gmail.com.

• HB620—New Homes Salesperson
  As you know, this bill passed. All new homes salespersons must now hold a real estate license in the State of Maryland. This should certainly help us to protect our purchasers in the future.

• Lockbox Consortium
  Pat Terrill and Elaine Gordy, both former CAR Presidents, have been members of the Maryland Lockbox Consortium for four years. The regional group investigated lockbox vendors to select a vendor to service more than 60,000 REALTORS® in the region that includes Delaware, Maryland, West Virginia, Pennsylvania, the District of Columbia, and Northern Virginia—with the premise and goal to have "power in numbers" when negotiating for lockbox services. Last week, the group chose SentriLock as the preferred vendor. A Negotiating Committee of the Consortium will be sent to work out the terms of the contract very soon. Details will follow. Associations may opt into the agreement at the end of each of their current contract. For instance, when CAR’s agreement with Supra ends July 31, 2008, the association may then choose to switch to SentriLock without incurring termination fees.

1031 Exchange Class
There will be a 1031 Exchange class held at the association office on Wednesday, June 27, from 10 to 11:30 a.m. The class has been approved for 1.5 hours of required Legislative Update/Legal CE credits. Click here for further details and registration.

MAR Annual Conference & Tradeshow
September 10-12 in Ocean City. Register now for education classes & Fun Day Events. This year, online conference registration allows you to: Make any class changes online, purchase additional tickets, and receive an improved Registration Confirmation. COST: 3-day Registration—$225 now through August  15; $50 discount for Rookie REALTORS®. Once you have successfully entered your NRDS#, please review your contact information, and scroll down to “REGISTRATION TYPE” to choose the registration type that applies to you. Then continue registering. Register now!

CAR Quarterly Newsletter Deadline
DEADLINE FOR AD RESERVATION & ARTICLE SUBMISSION: FRIDAY, JULY 6
It’s time to reserve your spot in the CAR printed quarterly newsletter, CURRENTS. The Summer 2007 issue will arrive in member mailboxes in late July. [NOTE: This is to be a much-read issue!]

• Advertise to more than 1,300 REALTORS® in the tri-county area. Rates are detailed in the advertising packet.
• Want to annouce a promotion, new agents, retirements, special achievements, births, or more? Make a submission to the Member Spotlight section.Send all questions, feedback, article ideas or annoucements to
  editor@coastalrealtors.org.
  

MAR Leadership Academy
MAR is now accepting applications for the 2007-2008 Leadership Academy, beginning October 4, 2007, and ending on April 14, 2008. All applications are due by August 1. Please be sure to indicate on the application your preferred interview date. Once received, MAR will confirm your interview date and time. For an application, please contact Lisa Kinsman, at 800-638-6425 or e-mail your request to lisa.kinsman@mdrealtor.org.

Ground Rent Disclosure Law Takes Effect July 1
A new ground rent disclosure will take effect for all contracts of sale in Maryland where the underlying property is subject to a ground lease. This disclosure must be made on all contracts entered into on or after July 1, 2007. This disclosure will be available through the Maryland Association of REALTORS® Web site (www.MDRealtor.org) under the forms section as an addendum. In the addendum, sellers of residential property of up to four units that is subject to a ground rent must disclose the amount of the annual rent, whether it is paid yearly or half-yearly, the date or dates on which it is due, the date when the next payment is to be paid and the amount to be paid, the name, address and phone number of the ground rent owner, and a specified statement as to the potential right to redeem, and the consequences for non-payment. For further information, please contact Chuck Kasky at 800.638.6425 or chuck.kasky@mdrealtor.org.

Markets Wary of Housing Market’s Drag on Economic Growth
Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.69 percent with an average 0.5 point for the week ending June 21, 2007, down from last week when it averaged 6.74 percent. Last year at this time, the 30-year FRM averaged 6.71 percent. Full story>>>

Truth in Your Advertising: Avoid Puffery?
Generally speaking, we expect to encounter truth when we read the newspaper. But turn the page to the advertising pages, and this may not be the case. Full story>>>

NAR Podcast: Protecting Consumers From Natural Disasters
With the 2007 hurricane season off to a running start, NAR President Pat V. Combs, asks REALTORS® to take time now to help protect consumers before natural disasters strike.

Pat highlights NAR’s efforts to strengthen the National Flood Insurance Program, including funding existing obligations and making it more responsive to user needs.  At a recent hearing on the Flood Insurance Reform and Modernization Act of 2007, REALTORS® urged Congress to speed reform of this vital program and to reconsider provisions that could have a negative impact on the real estate market. 

Pat calls on all REALTORS® to visit the REALTOR® Action Center for the latest information on this legislation and a separate bill in the works that could help address the growing need for affordable property and casualty insurance in disaster-prone areas.

Listen to the podcast now>>>
What’s This?: This is a mp3 file you may download to your computer or iPod and listen to at your convenience.