11-7-16 Vol.: 2016 Iss.: 41 • Brian Copeland, 2017 President • Phil Newman, TAR Digest Editor

TAR TAKEAWAYS
Tennessee REALTORS® Shine at NAR in Orlando
✔  Mark your calendar for key TransactionDesk conversion dates (!)
✔  Is it always smart to hold an Open House?
✔  Quick tip for using the signature stamp in AuthentiSign

CONTENTS 

Vote. Act. Invest. 
1. 
Vote Tomorrow! (Nov. 8)
In the News
2. TN REALTORS
® Shine in Orlando

3. CyberSavvy: Surf with Care
Member Services
4. **Must-Read** TransactionDesk Conversion
5. Free TransactionDesk Training
6. AuthentiSign Tip: Signature Stamp
7. RETI Webinar: Encrypt Everything
Legal & Ethics Hot Line
Is an Open House Always Smart?
8. No Listing Agreement?

9. Another Agent’s Listing?
10. No Ownership Interest (Yet)?
Key Links & Resources

1. Vote Tomorrow (Nov. 8)!
Election Day is upon us. If you didn’t vote early, be sure to cast your ballot tomorrow, Tuesday 11/8! Click HERE for a map of Tennessee election commissions or HERE for general voting information.

2. TN REALTORS® Shine at 2016 NAR Conference in Orlando
Among the highlights from Tennessee’s presence at the 2016 NAR REALTORS® Conference and Expo this past week:

— Our members on NAR committees took part in vital meetings and briefings;

— Many of us attended the gala at which Bill Brownwas inaugurated as 2017 NAR President;

— Mike Gaughan, our 2016 REALTOR® of the Year, was spotlighted during Saturday’s General Session;

— Our torch officially passes today (11/7) from 2016 President Randy Durham to 2017 President Brian Copeland.

For more highlights, visit our page on Facebook or follow our Twitter feed.

3. CyberSavvy: Surf with Care
At the 2016 THDA Governor’s Housing Conference, title attorney Laura Perry and mortgage banker Gregg Murphy offered tips to help REALTORS® and lenders outsmart hackers and maintain secure information. We’ve been sharing their insights in the Digest. This week, the final installment:

Think About Where You Go Online:

  • Websites can host malware; be wary of visiting unfamiliar ones.
  • Avoid immediately clicking on a link; take a close look first.
  • Look for the “s” at the end of http (a sign of a secure site)
  • Look for the green padlock in the URL bar (another sign of security)
  • Click on the URL bar to see more information if you’re unsure
  • Beware of sites flagged with an orange square / exclamation point

4. **Must-Read** TransactionDesk Conversion
If you’re not using the new TransactionDesk yet, now is the time to prepare for the big change at the end of February. Keep these details and dates in mind:
 

CURRENTLY: Phase 1 — The new TransactionDesk has been available for well over a year now, with the ability to switch between old and new systems. All data, forms and documents are exactly the same (the old and new systems share a common database).
 

NOV. 23, 2016 – FEB. 27, 2017:  Phase 2 — As of 11/23, users will see a splash screen with information on the new system, links to webinars, etc. Users will be automatically logged into the new system but can still switch back to the old system. **Use these three months to learn the new TransactionDesk. At the end of February 2017, the old system will go away.
 

FEBRUARY 28, 2017: Phase 3 — Only the new system will be available; the old system will be turned off!
 
NOTE: As a reminder, all data has been replicated in the new system, so there is no loss of data, documents or forms. There is nothing you need to do—except start using the new system.

5. Free TransactionDesk Training
Here are some tools to help you prepare for the conversion described above…
 
Attention Members: Instanet Solutions offers free training for TransactionDesk, DocBox, AuthentiSign, InstanetForms, and more. Visit 
HERE for webinar sign-ups.
 
Attention Firms: If you would li
ke FREE customized training for your office on any TransactionDesk topic via Instanet Solutions’ webinar solutions, shoot an email to .
 
Reminder for All: On Feb. 28, the NEW TransactionDesk will become the only option. So get your training and be prepared for the conversion!

6. AuthentiSign Tip: Signature Stamp
We periodically share tips to help you navigate TransactionDesk, including step-by-step tutorials featuring our own Buzz Steele, RCE. This week:
 

Manipulating the Signature Stamp in AuthentiSign
Often the stamp will interfere with the text on the contract OR you can’t read the date and time because the text has been muddled. Here’s a simple way to manipulate the signature stamp to help clear up these annoyances and make it easier to read for everyone involved. Watch our screencast tutorial HERE.

7. Free RETI Webinar: Encrypt Everything
Encryption is vital to protecting your information and your clients’ data. For help, watch a FREE webinar from the Real Estate Technology Institute (RETI), a TAR partner, at 3 p.m. EDT/2 p.m. CDT Wed., Nov. 9: “How To Encrypt Everything!” with Craig Grant. Register HERE.

Legal & Ethics Hot Line Source: TAR Legal & Ethics Hot Line Counsel

Is an Open House Always Best?
Open Houses are a great way to attract potential buyers. However, it may not always be in your client’s best interest to hold one. This week’s Q&As address situations where hosting an open house should be avoided…

8. No Listing Agreement?

QUESTION: If a seller does not have their property listed, but they want me to do an open house, can I do this and charge them a fee?
 
ANSWER: There is not anything in the Broker’s Act, TREC Rules, or Code of Ethics addressing this specific situation. An agent is required to have written permission from the seller to place a sign in the yard and/or to advertise the property. This does not necessarily have to be a listing agreement, but it generally is. However, this practice is not recommended for several reasons. First, it may be misleading to the public if the licensee is not the listing agent and is hosting an open house. Second, the licensee is taking on a great deal of liability without a listing agreement in place. Finally, your local board may have rules concerning this, so it is recommended to check with them.

9. Another Agent’s Listing?

QUESTION: I represent a builder, and I have asked an agent from another firm to sit at some open houses for me. I understand that the agent would need to let any potential buyers know that they do not represent the seller, but what other pitfalls could occur?

ANSWER: This is not recommended for several reasons. If a licensee has open houses for other firms, he is likely violating several provisions of the Broker’s Act. First, it likely constitutes misrepresentation since that licensee does not work for that agency. Second, the licensee does not represent that seller; by holding the open house, it appears to the public that the licensee on property is the listing agent. Third, this may violate the licensee’s independent contractor’s agreement with the agent’s firm or against company policy. Fourth and finally, that licensee will be taking on liability, which is not advisable.

10. No Ownership Interest (Yet)?
 
QUESTION: I represent the buyer on a property that has not closed yet. Can the buyer hold an open house before the property closes?
 
ANSWER: This is not recommended since the buyer has no interest that they would be selling. Furthermore, the local board probably would not permit this. It is recommended to contact the local board for more guidance on this issue.

KEY LINKS & RESOURCES
To check your CE hoursverify.tn.gov/default.aspx
For CE and other courses around TN: tarnet.com/education/
For online CE coursestarnet.com/education/?target=online-CE-courses/
To ask a TAR Legal and Ethics Hot Line questiontarnet.com/technology-support/legal-ethics-hotline/
TREC: tn.gov/commerce/section/real-estate-commission
TAR website: tarnet.com
TAR on Twittertwitter.com/tnaor
TAR on LinkedInlinkedin.com/groups?gid=852077&trk=hb_side_g
TAR on Facebookfacebook.com/pages/Nashville-TN/Tennessee-Association-of-RealtorsR/15041383689