11-14-16 Vol.: 2016 Iss.: 42 • Brian Copeland, 2017 President • Phil Newman, TAR Digest Editor

TAR TAKEAWAYS
✔  Celebrate with your fellow Tennessee REALTORS®
✔  Five tips to help you plan for 2017
 Leverage the power of Pinterest in your business
✔  Know when it’s wise to disclose a personal interest

CONTENTS
In the News

1. More Accolades for TN REALTORS®
2. Five Helps for 2017 Planning
3. Job-Hopping Millennials
Vote. Act. Invest.
4. Election 2016 Recap
Member Services
5. Reminder: TransactionDesk Key Dates!
6. RETI Webinar: Pinterest Power
Professional Development
7. Ethically Sound: Meet the Code
Legal & Ethics Hot Line
Disclosing Personal Interests
8. Agent / Buyer?
9. Retired Licensee?
10. Out-of-State Agent?

Key Links & Resources

1. More Accolades for TN REALTORS®
Additional good news from the recent NAR’s REALTORS® Conference and Expo:
 
— Jimmy Settle of Clarksville (bottom photo) was installed as 2017 National President-Elect of the REALTORS® Land Institute (RLI).
Ellis Gardner of Chattanooga (far right) was installed as 2017 Tennessee President of the Council of Certified Residential Specialists (CRS) by Leigh Brown, 2017 National CRS President.
Monica Neubauer of Franklin (above left) was named a CRS Instructor—one of the first to be accepted for this select position in a number of years.
 
Kudos to all!

2. Five Helps for 2017 Planning 
’Tis the season to focus on finishing 2016 strong while also looking toward the New Year. THIS Inman blog features ideas for getting the jump on 2017, learning to work smarter, enjoying leads all year long by focusing on lead generation, and taking time now to review your goals. The five key points are: 

  1. “Plan around lead generation.”
  2. “Pick a few potential dates to host a client party.”
  3. “Make time for personal growth.”
  4. “Assess your successes and areas of improvement from this year.”
  5. “Start thinking about what you want to achieve in 2017.” 

Go HERE for the full article.

3. Job-Hopping Millennials

Looking for insights on the millennial who might be your next client? According to Gallup, “Six in 10 members of this generation say they’re open to different job opportunities; only one in two plan to be with their company one year from now; and 50% say they’d consider taking a job with a different company for a raise of 20% or less, according to Gallup’s report How Millennials Want to Work and Live.” Read the full article HERE.

4. Election 2016 Recap
Election Day has come and gone. It was a hard-fought battle, and REALTORS® in Tennessee were heavily engaged on many levels. We reached out to voters and candidates in nearly every district—even targeting some of the most closely watched campaigns. Click HERE for a summary of Tennessee’s impact in the election; visit HERE for NAR’s perspective on the success we saw across the nation. Thank you to all who helped Get Out The Vote and support the REALTOR® Party!

5. Reminder: TransactionDesk Key Dates (!)
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: 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.

6. Free RETI Webinar: Pinterest Power
Learn to leverage one of today’s fastest-growing social-media tools, Pinterest, with a FREE webinar from the Real Estate Technology Institute (RETI), a TAR partner, at 3 p.m. EST/2 p.m. CST Wed., Nov. 16: “The Power of Pinning” w/ Juanita McDowell and Craig Grant. Register HERE.

7. Ethically Sound: Meet the Code
As a reminder, REALTORS® are required to complete at least 2 hours and 30 minutes of NAR-approved Code of Ethics instructional time within four-year cycles.

The current four-year cycle will end Dec. 31, 2016. If you still need to fulfill your requirement, explore course options via TAR HERE.

Legal & Ethics Hot Line

Source: TAR Legal & Ethics Hot Line Counsel

Disclosing Personal Interests
Both the Broker’s Act and the Code of Ethics require REALTORS® to disclose if they have a personal interest in a transaction. Specifically:
 
— Tenn. Code Ann. §62-13-403(7)(A) provides that “a licensee shall not engage in self-dealing nor act on
behalf of a licensee’s immediate family, or on behalf of any other individual, organization or business entity in which the licensee has a personal interest without prior disclosure of such interest and the timely written consent of all parties to the transaction.”
 
— Code of Ethics Article 4 states, “Realtors® shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, Realtors® shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative.”
 
— Standard of Practice 4-1 states, “For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by Realtors® prior to the signing of any contract.”
 
Here are several situations outlining when and how disclosure is appropriate…

8. Agent / Buyer?

QUESTION: I am going to purchase land and am acting as my own agent. Which forms do I need to use for these offers?
 
ANSWER: You can use all forms you would use in a normal transaction, but be sure to include the Personal Interest Disclosure & Consent form, TAR form RF/CF305. Both sides of the transaction must approve the personal interest before the contract is signed.

9. Another Agent’s Listing?

QUESTION: If I am listing a property for an individual who has a real estate license in retirement, do we need to disclose that?
 
ANSWER: Yes, it is advisable to fill out the Personal Interest Disclosure & Consent form. Theoretically, the individual could reactivate his license at any time. It never hurts to over-disclose just in case.

10. Out-of-State Agent?
 
QUESTION: I have a property I am preparing to list for sale, and the owner is a real estate licensee in Georgia, not in Tennessee. Does this make any difference?
 
ANSWER: It is recommended that this owner fill out the Personal Interest Disclosure & Consent form stating that he is a real estate licensee. Article 4 of the Code of Ethics requires disclosure of personal interest regardless of the nature or location of that interest. It is best to let everyone involved in the transaction know that this seller is a licensed real estate agent—even if it’s in another state.

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

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