Phil Newman2016-03-28T09:54:13-05:00February 22nd, 2016|
2-22-16 — Vol.: 2016 Iss.: 8 • Randy Durham, 2016 President • Phil Newman, TAR Digest Editor
CONTENTS In the News 1. Tax Tip: Fuel Credit Heads-up 2. Good Health, Good Business 3. When Body Language Speaks Member Services 4. TransactionDesk Tech Tip 5. Get in on NAR’s Tech Edge Events Professional Development 6. Hats Off to Our GRI Grads!
7. Stellar Slate of Speakers Legal & Ethics Hot Line 8. Transactions Outside the Firm? 9. Three-Day Right of Rescission? 10. Septic/Sewer System Letter? Key Links & Resources Spring Conference Registration
1. Tax Tip: Fuel Credit Heads-up The IRS’ current “Dirty Dozen” list of warnings includes Fuel Tax Credit Scams, including individuals or businesses making excessive claims. For details, see the IRS posting at this link.
2. Good Health, Good Business With Girl Scout cookie season almost over and many New Year’s resolutions in the rearview mirror, it might be a good time to chew on healthy habits that can boost our energy—and our real estate success—for the rest of 2016 and beyond. This Inman News blog by Tigi Tasso provides a dose of inspiration via four tips:
3. When Body Language Speaks As real estate professionals, we know that non-verbal communication is a critical part of projecting an engaging presence. In this TED talk, sociologist Amy Cuddy reminds us that “body language affects how others see us, but it may also change how we see ourselves”—including high-power and low-power cues. Watch her message at here.
4. TransactionDesk Tech Tip Beginning this week we’ll share an occasional tip to help you navigate TransactionDesk, including step-by-step tutorials featuring our own Buzz Steele. Today’s tip: What is the easiest way for the Seller to fill out a Property Condition Disclosure? Don’t set up an AuthentiSign for Sellers to fill out a Property Conditions Disclosure online. It’s cumbersome and requires a lot of time. There’s a much easier method: Make them a “PARTICIPANT” in a transaction. **The screencast at this link demonstrates how to do that.** After the Seller has completed the Disclosure, you can then set up the AuthentiSign to capture their signature.
5. Get in on NAR’s Tech Edge Events Join NAR for a series of one-day tech conferences designed for agents eager to learn how new technologies impact the real estate business. These Tech Edge events are featured as a current MVP offer from NAR (with an bonus award) at this link.
6. Hats Off to Our GRI Grads! Shout-out to our 2015 class of Graduate REALTOR® Institute (GRI) graduates and Master GRI grads. The full list is below. If you don’t hold the GRI designation but would like to begin (or continue) the process, visit this page for details. Or click here to see our video of the Top 10 Reasons to Earn Your GRI.
2015 Master GRI Graduates: Susan Barnette (Athens), Robert Bradney (Cleveland), Donald Duncan (Clarksville), Linda Kelly (Knoxville), Wendy McNeil (Germantown), Amanda Stone (Maryville), BJ Swinehart (Knoxville), Aaron Taylor (Johnson City), Kenda Yates (Lenoir City).
2015 GRI Graduates: Stefanie Albright (Germantown), Becky Alder-Loree (Franklin), Nick Alvaro (Lenoir City), Keri Bateman (Franklin), Lynette Bell (Knoxville), Christy Blanco (Maryville), Mary Coffey (Knoxville), Jane Craddock (Knoxville), Kelly Davis (Cookeville), Laura Dickerson (Morristown), Deborah Dickmeyer (Murfreesboro), Kara Edenfield (Knoxville), Dawn Franklin (Nashville), Laura Gaither (Bartlett), Sandy Gammon (Knoxville), Steven Gazaway (Knoxville), Kaila Gentry (Fayetteville), Shalene Gray (Nashville), Beverly Greenup (Nashville), Debra Grimes (Nashville), Stacey Groover (Hixson), Brian Hammond (Mt. Juliet), Steven Hill (Franklin), Donna Hudson (Dickson), Holly Kozlowski (Collierville), Cindy Kraus (Knoxville), Brian Lurie (Arlington), Mitzie McDonnell (McEwen), Elizabeth McGuire (Nashville), Linda Meese (Knoxville), Denise Morrison (Franklin), Holly Mount (Arlington), Ethan Nicodemus (Nashville), Anne Nilsson (Nashville), Jeff Orr (Johnson City), Cynthia Owsley (Franklin), Owen Poveda (Seymour), Alisa Pruett (Knoxville), Deborah Saunders (Knoxville), Nick Schmall (Eads), Jamie Seal (Knoxville), Linda Seul (Murfreesboro), Debbie Smith (Knoxville), Jason Sparrow (Franklin), Vickie Stanton (Pigeon Forge), Mary Suto (Nashville), Wendy Suttle (Hendersonville), Tony Tabb (Brentwood), Deb Taylor (Alcoa), Brandi Tilton (Nashville), Katie Townsend (Lexington), Patricia Vance (Brentwood), Katrina Waldrip (Murfreesboro), Randy Worcester (Clarksville).
7. Stellar Slate of Speakers If you haven’t had the chance, check out the line-up of speakers for our Spring Conference, March 21 and 22.
Highlights will include Dave Crumby, Dale Carlton, Koki Adasi, Patrick Schwerdtfeger, Andrew Dorn, and a Q&A with TREC Commissioners.
Hope to see you there! Visit this link for registration details.
8. Transactions Outside the Firm?
QUESTION: I have some employees wanting to do some transactions outside of the firm. How do I make sure these transactions are handled legally? Our company does not allow us to do monetary transactions, so I need to know the TREC rules. ANSWER: If the activity requires a real estate license, then it must go through the firm. For that reason, if the agent does not own the property himself or herself, then the transactions would have to go through the firm.
9. Three-Day Right of Rescission?
QUESTION: I just had a closing, and the buyer’s numbers from the lender were incorrect. Now they want to redo the closing and say they have to wait an additional three-day period prior to disbursement. Shouldn’t the three-day right of rescission start at the original closing date?
ANSWER: If the transaction did not fund, there is a possibility that the lender discovered there were errors in the closing disclosures which had to be corrected, even though the parties had already signed all of the documents. If this is the case, there may have to be an additional three-day disclosure period, and then the closing documents would need to be redone. Also, bear in mind that in Tennessee, there is only a three-day right of rescission for refinances—not purchases.
10. Septic/Sewer Line Letter?
QUESTION: When did it become the buyer’s responsibility to furnish the letter regarding the septic/sewer system instead of the seller under the RF401?
ANSWER: This has always been a buyer expense under the TAR Purchase and Sale Agreement. TREC made this a rule in 2008. TREC Rule 1260-2-.37 holds that, “A licensee preparing an offer to buy shall provide in the offer and make the buyer aware that, for a fee, a septic system inspection letter is available through the Tennessee Department of Environment and Conservation, Division of Ground Water Protection.”