The 4-12-11 Newsletter of the Tennessee Association of REALTORS
Editor: Pug Scoville


CONTENTS
1. NAR Opens Town Hall to Members
2. Are You a “People Pleaser”?
3. We Have a Winner!
4. One-Fourth of Mortgage Applications Rejected
5. LEGAL ALERT: Short Sale Payoff Fraud
6. Upcoming Events and Courses
7. Rates Inch Further Upward
8. Useful Web Links

To ask a TAR Legal and Ethics Hot Line question, CLICK HERE.

For other questions about this newsletter, please use the “CONTACT” form HERE.


1. NAR Opens Town Hall to Members

Last week, the DIGEST include a report about NAR’s new “REALTOR Party Political Survival Initiative” and the proposed $40 dues increase with which NAR wants to fund it. That proposal by NAR has generated a lot of member comments, pro and con the proposal.

This week, NAR has scheduled a virtual (online) town hall, Wednesday, April 13, at 1PM Central Time (2PM Eastern), with NAR Leadership to discuss the REALTOR Party Political Survival Initiative with REALTOR members. The NAR Board of Directors will vote on the initiative on May 14 at its meeting at the end of the NAR Midyear Meetings & Trade Expo in Washington, D.C. NAR President Ron Phipps says member input into such an important initiative is crucial. NAR leaders will take member questions during the town hall, and members of the leadership and presidential advisory group (PAG) that developed the initiative will take questions for two days after the town hall. Information on submitting questions to PAG members will be detailed in the town hall.

This is YOUR chance to provide input! To attend the Town Hall, register online by CLICKING HERE.

TENNESSEE’S NAR DIRECTORS: If you would like to communicate your feelings about this proposal – pro or con – to your representatives on the NAR Board of Directors who will be voting on this proposal in May, you will find their names and contact information on the TAR website (in our TAR Leadership Directory …login required) at: http://tnrealtors.com/members/directory/nardirectors.php

[SOURCE: NAR]


2. Are You a “People Pleaser”?

A slower market often means that you’re dealing with some clients, especially sellers, with very raw emotions on display!

This past week, RISMedia published an article that will be helpful to many of our readers, “Real Estate Marketing Strategies – Are You a ‘People Pleaser’ or Are You Committed to ‘Win/Win'” by Maya Bailey, Ph.D.  If the article’s description of a “People Pleaser” fits you, DESPITE your best efforts, you may find some useful ways to change how you approach your business and those troublesome clients:

*** BEGIN QUOTE ***
The biggest mistake that most real estate agents make in dealing with their clients and colleagues is that they are unconsciously committed to “people pleasing.” The signs to watch out for will clearly show you whether you are inadvertently falling into a “people pleaser” pattern. If so, you’ll be shown an alternative strategy.
*** END QUOTE ***

To read more, CLICK HERE.

[SOURCE: RISMedia]


3. We Have a Winner!

A new Kindle (e-book reader) was graciously donated by the Clarksville Association of REALTORS for a drawing open to all early registrants for the 2011 TAR Convention in Savannah, Georgia. [Thank you, Clarksville!]

We are pleased to announce that Vicki Smith, with Coldwell Banker Lakeside REALTORS in Hendersonville, TN, is now the winner of a new Kindle!

While the rest of our readers may not win a Kindle, you can still give yourself a great Convention experience, the chance to hear and learn from wonderful speakers, and a good reason to visit beautiful historic Savannah!

Speakers this year include: Dr. Bertice Berry, Shannon King, Verl Workman, Jackie Leavenworth, Krisstina Wise, Lynn Madison, and Todd Sholar!

To learn more, or to register, go to: http://tnrealtors.com/meetings/convention/schedule.php


4. One-Fourth of Mortgage Applications Rejected

New Federal Reserve statistics show that about 25 percent of today’s mortgage applicants are rejected – including, according to National Association of REALTORS chief economist Lawrence Yun, solid borrowers with only a ding or two on their credit. Many potential buyers do not even apply based on an assumption that they will not qualify even with good credit. Also keeping people out of the mortgage market is lender demand for much more upfront cash – an average down payment of about 15 percent, compared to zero during the boom.

[SOURCES: Information, Inc.; Chicago Breaking NEws]


5. LEGAL ALERT: Short Sale Payoff Fraud

In case you missed it, NAR’s Legal Affairs Department produced an 18-minute audio podcast in March (Episode 31 in their continuing series of free podcasts) on “Short Sale Payoff Fraud.”

In this program, Freddie Mac investigator Robert Hagberg discusses some of the latest fraud schemes such as “flopping” and the involvement of real estate professionals. Robb Hagberg is Associate Director of Mortgage Fraud Investigations with Freddie Mac’s Fraud Investigation Unit in McLean, Virginia. Since joining Freddie Mac in 2006, Robb has become one of Freddie Mac’s primary spokespersons on fraud, conducting presentations and educational seminars to lenders, mortgage brokers, appraisers, regulators and law enforcement.

You can listen online or download it (your choice) by CLICKING HERE.

[SOURCE: NAR]


6. Upcoming Events and Courses

April 13: 2011-2012 Core Course (6 hrs. CE) – GCAR Office, Chattanooga. For more information or to register, call 423-698-8001.

April 13: REBarCamp Nashville – ICON in the Gulch, Nashville. SOLD OUT, but you can get on a waiting list at: http://www.rebarcampnashville.com/

April 18: 2011-2012 Core Course (6 hrs. CE) – Sumner Assn. Office, Hendersonville. For more information or to register, call 615-824-6629.

April 21: 2011-2012 Core Course (6 hrs. CE) – Smithville, TN. For more information or to register, call 615-758-9851.

April 21: Homeownership Options for Tennessee’s Workforce (6 hrs. CE) – GCAR Office, Chattanooga. For more information or to register, call 423-698-8001.

April 21-22: LEADERSHIP TAR Retreat #1. Registration is still OPEN for the 2011 Leadership TAR Program, that begins APRIL 21! For more information or to become a part of it, CLICK HERE.

April 27-28: GRI 1, Professionalism in Real Estate (16 hrs. CE) – TAR Office, Nashville. For more information or to register, go to: https://www.123signup.com/event?id=vtxtp

April 28 – June 1: GRI 6, Sticky Situations (16 hrs. CE) – an E-Class distance-learning course. For more information or to register, go to: https://www.123signup.com/event?id=vttnj

The complete 2011 schedule of GRI courses (both Classroom and E-Class) is online HERE.

Watch each week’s TAR DIGEST for schedule changes and additions!


7. Rates Inch Upward Again

The average interest on 30-year fixed loans still remained below 5 percent this past week. The rate came in at 4.87 percent, a slight increase from 4.86 percent a week earlier, according to Freddie Mac. The 15-year fixed rate also was essentially flat, rising to 4.10 percent from 4.09 percent the previous week.

[SOURCES: Freddie Mac; Information, Inc.]


8. Useful Internet Links

Click on any of the following to access:

Back Issues of the TAR DIGEST
Tennessee Assn. of REALTORS
TAR Education
TAR on Facebook
Follow TAR on Twitter
Online Risk Reduction Resources
Online Resources for Association Leaders
Tennessee Real Estate Commission