7-25-16 — Vol.: 2016 Iss.: 27 • Randy Durham, 2016 President • Phil Newman, TAR Digest Editor

✔ TODAY (7/25) is last chance for early-bird Convention rate
✔ Home sales and median prices keep rising; inventory remains tight
✔ Pick up quick tips for taking your emails to the next level
✔ How to nail your new-construction deals


In the News
1.*Early-Bird Deadline TODAY*
2. Home Sales, Prices Up; Inventory Down
3. U.S. Home Buyers Still Bullish
4. Sharpen Your Emails
Member Services
5. Get Your Member Valued Perks
6. Free RETI Webinar: Sweet Tweets

Professional Development

7. Five Habits for Real Estate Success
Legal & Ethics Hot Line
8. New-Construction Disclosure Forms?
9. Punch List or Repair / Replacement?
10. Buyer’s Acceptance?
Key Links & Resources
**Register for Fall Convention!**


1. *Early-Bird Deadline TODAY*
Early-bird pricing for TAR’s 2016 Fall Convention: The Great Blue, ends AT 11:59 PM TODAY, Monday, July 25. Register HERE and secure your travel arrangements; hotels and flights are filling up. The Convention—Sept. 14, 15 and 16 at the Charleston (S.C.) Marriott—will feature inspiring speakers, engaging CE sessions, awards, new-officer installations, social/networking fun, and more. Sign up now!

2. TN Home Sales, Prices Up; Inventory Down
For the second quarter of 2016, Tennessee home sales rose 7.4 percent (to 21,687) and the median price also rose 7.4 percent (to $194,900) over the second quarter of 2015, according to statistics compiled by TAR. For June 2016, Tennessee single-family home sales rose 2.3 percent over the previous June (to 7,650), while the median price rose 6.6 percent (to $201,500), and inventory fell 27.9 percent (to 24,391). “Tennessee’s ever-increasing appeal as a great place to live and work continues to stretch the availability of homes and push prices upward, yet we have still seen a steady rise in overall home sales and a great deal of vibrancy in our housing market,” said 2016 TAR President Randy Durham. “As REALTORS®, it is encouraging to be part of such a healthy, growing economy that provides plentiful opportunities to help buyers and sellers navigate the challenges of a fast-moving real estate environment.”

3. U.S. Home Buyers Still Bullish
In a related story, three-fourths of Americans polled in the second quarter believe now is a good time to buy a home (74 percent), while 26 percent believe now is not a good time to purchase, according to the latest Home Survey: Housing Market Opportunities and Market Experience, released this month by NAR’s Research Department. For more insights from the survey, go HERE.

4. Sharpen Your Emails
Despite the growth of other options, email remains the go-to communication tool for just about everyone. Still, it’s easy to “make basic mistakes” that let “messages get lost or crucial actions fall by the wayside,” writes Rob Reinalda in this Ragan.com blog, which outlines several basic yet insightful reminders for avoiding the traps. They include:

  • Start with the right salutation.
  • Choose one topic for your email and stick to it.
  • If you want/need someone to do something, say so (specifically).
  • Make your Subject sing like a great newspaper headline.
  • Do reply, even if you’re busy. (“Got it, thanks. Swamped. More later.”)
  • Proof your emails…twice.
  • Know when (and when not) to Reply All.

View the whole story HERE.


5. Get Your Member Valued Perks
If it has been a while since you checked out the perks available to TAR members, visit THIS LINK for a list of benefits and descriptions for ERMA, healthPERX, TaxBot, Life Line Screening, Office Depot, OnGuardHelp, Pearl Insurance, RPR (REALTORS® Property Resource), and REALTORS® Federal Credit Union.

6. Free RETI Webinar: Sweet Tweets
The Real Estate Technology Institute (RETI), a TAR partner, offers a FREE webinar at 3 p.m. EDT/2 p.m. CDT this Wednesday, July 27. “Tweet Your Way to More Real Estate Clients,” led by Twitter expert Juanita McDowell, will show you how to listen to your community and prospect for customers on one of the world’s top social-media platforms. Register HERE.


7. Five Habits for Real Estate Success
The current edition of REALTOR® magazine is loaded with practical tips and ideas, including a list of five habits to foster success. “To be consistently successful,” the author asserts, “takes a strong set of positive habits. Whatever your business model or niche, these practices can help you be a top performer year after year.” Cheat sheet:

  • Make business planning a daily activity.
  • Stay organized at work and at home.
  • Communicate effectively.
  • Take care of your body.
  • Always ask…

Read all of the details and examples at THIS LINK.

Source: TAR Legal & Ethics Hot Line Counsel

How to Build a New-Construction Transaction
In today’s market, new construction is popping up everywhere. TAR has a special library of forms available to members when transacting new construction properties—including RF403, New Construction Purchase and Sale Agreement. The questions below address issues that may arise when conducting these transactions, and which forms to use to be successful.

8. New-Construction Disclosure Forms?

QUESTION: Which property-disclosure form do I use for new construction?

ANSWER: There is not a property disclosure for new construction, as it is exempt from the Residential Property Disclosure Act, Tenn. Code Ann. § 66-5-209. The 12 exemptions include: (9) Transfers involving the first sale of a dwelling provided that the builder offers a written warranty;. If you have an unusual situation in which the exemption does not apply, then you would use the regular disclosure form, RF201.

9. Punch List or Repair / Replacement?

QUESTION: Which form do I use to request repairs on a new construction?

ANSWER: When working with new construction properties, use RF662, New Construction Walk Through / Punch List, to work out repairs to be made. This form becomes an amendment to RF403, New Construction Purchase and Sale Agreement.

10. Buyer’s Acceptance?

QUESTION: Is there a form that states the buyer is accepting items such as HOA rules and watersource?

ANSWER: There is not a specific form wherein the buyer can note that they are accepting the HOA rules, water source, etc. However, it is recommended that you use RF 656, Notification, for this purpose and list that the buyer approves these items in paragraph 21, Other.

To check your CE hours:verify.tn.gov/default.aspx
For CE and other courses around TN: tarnet.com/education/
For online CE courses:tarnet.com/education/?target=online-CE-courses/
To ask a TAR Legal and Ethics Hot Line question:tarnet.com/technology-support/legal-ethics-hotline/
TAR websitetarnet.com
TAR on Twitter:twitter.com/tnaor
TAR on LinkedIn:linkedin.com/groups?gid=852077&trk=hb_side_g
TAR on Facebook:facebook.com/pages/Nashville-TN/Tennessee-Association-of-RealtorsR/15041383689


2016 TAR Fall Convention
Sept. 14, 15 and 16


Early-bird pricing ends 7/25!


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