The Weekly Membership Newsletter of the Tennessee Assn. of REALTORS
Editor: Pug Scoville


CONTENTS
1. Biggest Marketing Bang for the Buck?
2. Five Steps to “Inbox Zero”!
3. HOT LINE: The Binding Date & Notice of Receipt
4. HOT LINE: A Seller With Alzheimer’s
5. Hotel DEADLINE August 26Th!
6. Rates Drop Slightly
7. No DIGEST Next Week


1. Biggest Marketing Bang for the Buck?

One of the more interesting areas of REALTOR.ORG is the weblog run by and for REALTOR Magazine’s “Young Professionals Network“. A recent article outlines recommendations for the best marketing tools (for the money):

  • BNI.COM – Referral Network group
  • Digital Post-it Notes
  • Starbucks Wifi
  • Social Networking Sites

[SOURCE: REALTOR.ORG]


2. Five Steps to “Inbox Zero”!

“You don’t have to live in fear of your e-mail inbox or be a slave to it….”

That statement marks the beginning of an article that ran this summer on Inman News. Merlin Mann – a widely-recognized authority on more effective time management, life balance, and information overload – spoke at Inman News’ Real Estate Connect Conference this year about email management, among other topics.

An Inman News article (“5 steps to ‘Inbox Zero'”) recapped some highlights of his presentation and can be read HERE.

Merlin Mann’s website — http://www.43folders.com — is also WELL worth a visit …it’s one of this editor’s bookmarks, visited often!

[SOURCE: Inman News]


3. HOT LINE: The Binding Date & Notice of Receipt

QUESTION: My understanding regarding notice of acceptance is that delivery to the other party would be annotated by the binding agreement date. In Tennessee, acceptance by the parties’ agent is deemed acceptance by the party, and in that case the agent could fill in the binding agreement date. That is also provided for in paragraph 15 of the purchase and sale agreement.

Is it the same if the licensee is only a facilitator? I believe that if a party has a facilitator, then acceptance could not occur until the party themselves receive it, because a representation agreement does not exist. However, paragraph 15 of the purchase and sale agreement states that both parties agree that either licensee can fill in the date. So, if notice is received by a facilitator, is that deemed notice to the party?

ANSWER: YES. Notice received by the facilitator is deemed to be notice to the party.  Please see Paragraph 15G.  It states “NOTICE shall be deemed to have been given as of the date and time it is actually received. Receipt of notice by the real estate licensee or their Broker assisting a party as a client or customer shall be deemed to be notice to that party for all purposes under this Agreement as may be amended, unless otherwise provided in writing.”  Since it states that notice is deemed to be received by a licensee assisting a party as a client (agent) or customer (facilitator), notice of acceptance to the licensee is sufficient even if that licensee is a facilitator.

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


4. HOT LINE: A Seller With Alzheimer’s

QUESTION: We have a situation where the legal owner has Alzheimer’s Disease. The property is to be listed under the authority of an individual holding a valid power of attorney, but the individual with power of attorney does not and has not ever resided on the subject property themselves. Which Property Condition form should be used – the Disclosure or the Exemption?

ANSWER: The best thing to do in this situation is to use the Disclaimer form. The individual with power of attorney does not qualify for the Exemption and does not have the knowledge to complete the Disclosure form. It should be explained to any prospective buyers that the owner has Alzheimer’s (after getting the power of attorney’s permission to do so), and that the power of attorney does not have the information available to accurately complete the Disclosure form.

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


5. Hotel DEADLINE August 26Th!

Our hotel block for the TAR Annual Convention in September is ALMOST completely booked!

Our hotel room block expires AUGUST 26TH. To contact the Chattanooga Marriott for reservations, please call 800-841-1674 as soon as possible!

ALSO, be aware that advance registration for the TAR Convention ends this FRIDAY, AUGUST 29th!  After that date, anyone wishing to register must do so ON-SITE, at a significantly higher price! To register in advance — THIS WEEK ONLY — go HERE.


6. Rates Drop Slightly

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 6.47 percent during the week ended Aug. 21, down from 6.52 percent during the prior three weeks. Meanwhile, the 15-year fixed mortgage rate slipped to 6 percent from 6.07 percent a week ago. Over the same period, the five-year adjustable mortgage rate fell to 5.99 percent from 6.02 percent, and the one-year ARM rose to 5.29 percent from 5.18 percent.

[SOURCES: Freddie Mac; Information, Inc.]


7. No DIGEST Next Week

There will be no TAR DIGEST next week, but we want to wish EVERY reader a very happy Labor Day! We know that many of our members will be working next weekend, but please take some time off from your labors to enjoy family and friends and be thankful for the opportunity to live and work in a great nation!

The next TAR DIGEST you receive will be the 9-9-08 Edition.


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After entering your email address, you will receive an email from the system () with a link that you MUST click on, to activate your subscription.  Thanks!

TAR’s Home Page: http://tnrealtors.com