1

The RACC Newsletter

REALTORS® Ass oc iat i on

o f C i t rus Count y , I nc .

Inside this issue:

President Message 1

General Membership

meeting

2 - 3

A-! Title– Full page Ad 4

Chili Cook Off 5

Education Classes 6 - 10

BB & T Full page Ad 11

Are You Using Your FREE

Benefit?

12-13

Volume X, Issue 4 APRIL 2014

The REALTORS® Association of Citrus County, Inc. exists to inform, educate and uphold the high standards set forth in the REALTOR®

Code of Ethics enhancing our members professionalism and image while fostering cooperation among our members and serving our

communities. We provide education and leading-edge technology to better safeguard private property rights and promote equal housing

opportunities

Regions Bank– Full

page Ad

15

Business Partners Kick

Off meeting

16

Business Partners Ads 17

Education Connection-

and MLS Tidbits

18

Fines & warnings 19

Calendar 20

On the Move 21

MLS Stats 22

Senate Passes Flood Insurance with House Amendments – (NAR) On March 13, 2014, the United States Senate voted 72-22 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370). The Senate acted quickly to pass the bill as amended by the House to avoid the need for a conference committee to reconcile any differences. The new bill further reins in and holds the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues. As passed, the bill repeals FEMA’s authority to increase premium rates at

time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill limits premium increases to 18% annually on newer properties and 25% for some older ones. Additionally, the bill adds a small assessment on policies until everyone is paying full cost for flood insurance. President Obama signed the bill into law on March 21, 2014. NAR had urged a swift vote in the Senate. What does this mean? This legislation puts the breaks on the escalating premium rates that many homeowners have been experiencing. How does it do this?

It creates a firewall on annual rate increases. It repeals the property sales trigger that has been depressing waterfront home sales. It repeals the new policy sales trigger. Reinstates grandfathering. It refunds homeowners who have overpaid for their flood insurance.

What do you tell your customers? FEMA has not been charging enough historically to cover catastrophic years. About half of the policy holders saw a 25% increase in the cost of flood insurance. When homes were sold the increases fully put into place, causing some homeowners to spend an additional $10,000 - $30,000 in annual premiums. This was not what congress intended. Now all policy holders will see an increase in their annual premiums. This will spread the pain to a wider pool of policy holders. The annual increases are capped at 25%. Eventually everyone will be paying the full rate. So instead of a sale triggering the complete increase, it will be phased in over time. If you are asked what a specific rate will be for a home, please refer them to a licensed insurance partner for a quote.

If you are looking to go above and beyond that go to the NAR website. Search on ‘flood disclosure’. This will give you guidelines on what to say. How do past customers get refunds? It will take a while for FEMA to work this out. It may take upwards of a year to receive refunds. Have your customer contact their insurance provider. They should have details once FEMA figures out what they are doing. Greg Younger, President

2

BREAKFAST WAS A HUGE SUCCESS!!

On March 13th almost 160 Realtors, Business Partners and Guests

attended our Annual Breakfast to recognize RACC Top Producers.

President Greg Younger called the meeting to order at 8:20am

followed by Secretary Rob Tessmer Jr. providing the Invocation and Pledge. Business Partner

Chair Melissa Seney then took a few minutes to allow the Business Partners to introduce them-

selves before President Greg recognized County Commissioner Rebecca Bays and the Property

Appraiser Les Cook. Regions Bank and A-1 Title, our Business Partners of the Month took a

moment to address the audience before everyone enjoyed a delicious Buffet Breakfast provided

by Citrus Hills Golf & Country Club.

President Elect Debbie Rector inducted our New Members:

Deborah Clark Tropic Shores

David Collins ERA American Realty & Inv.

Toni Dunham Coldwell Banker, Investors

Barbara Enyard Tropic Shores

Janet Higgins Janet Higgins

Kyle McFarland ERA American Realty & Inv.

Scott Ulery A Good Appraisal Service

William Wikle Harper Realty

continued

3

Next it was time to honor the Top Producers. Gwen Martone/ Regions and Melissa Seney/ Insurance

Resources presented certificates to the Million Dollar Producers and Plaques to the Multi-Million

Dollar Producers. Congrats to everyone that was recognized, what a great accomplishment!

Marvia Korol addressed the membership regarding the RPAC Party Cooler that will be raffled off at

the Chili Cook Off in April, if you would like to donate something to the cooler, please contact the

Association at (352) 746-7550. RPAC Chair Debbie Scott awarded pins to the Investors and 99’ers.

Thank you to everyone who has donated to RPAC this year.

There were lots of lucky winners at the event, Becky Norman, Coldwell Banker Next Generation was

the lucky winner of $200 in the Share n Share drawing, the other $200 will call go Habitat. David

Bramblett, Century 21 Nature Coast and Marvia Korol, RE/MAX Realty One won flower

arrangements with $50 gas cards donated by Gwen and Brenda the Business Partners of the Month.

Lorraine O’Regan was chosen to draw for the Queen of Hearts. She drew the joker and received $20

plus a free meal at the next General Membership Meeting. Don’t miss the Chili Cook-Off on April 10th.

The Queen of Hearts will be $140.00. (You could be the lucky winner!)

Again a huge Thanks to Brenda Buta/A-1 Title and Gwen Martone for being the Business Partners of

the month. The room was festive with the balloons and St. Patrick’s Day decorations.

OOPS! BRUCE BRUNK - MULTI-MILLION $ PRODUCER IN 2013

Bruce Brunk from Keller Williams Realty - Elite was a multi-million dollar producer in

2013. Inadvertently his name was left off the list at the meeting. Congratulations Bruce

and to all the Realtors®.

4

5

6

7

8

9

10

11

12

The Florida Realtors Legal Hotline is a free benefit

available to all members. Here are the details:

Call: 407.438.1409

Hours: 9 a.m. - 5 p.m., Monday through Friday Florida Realtors Legal Hotline attorneys answer

questions about real estate license law and

related real property issues. Attorneys also offer

legal interpretations of the Florida Realtors/

Florida Bar contract and other standard business

forms and contracts.

What You Need: Have your Florida real estate license number or

NRDS number ready when calling the Legal

Hotline. The phone system only allows a limited

amount of time to key in the numbers. If you don’t

have the numbers, you’ll have to call back. Once

connected, calls for an attorney will be placed in

queue. Calls regarding ethics, MLS or procuring

cause will be redirected to staff specializing in these

areas.

Save time: Ask a question online Legal questions may now be emailed to the Legal

Hotline. Members will receive a live callback from

a Legal Hotline attorney. Ask a question now. (login

required)

Who May Use This Service? Current Florida Realtors members. If your license

number does not appear in our computer system,

you will not be able to speak with an attorney.

Local board/association attorneys, executive

officers and staff.

Private attorneys who represent a current member as

long as the member is also on the line for the call.

Cost: As a member service, there is no charge to

access the Legal Hotline. If you are calling from

outside the 407 area code, you may incur a

long-distance telephone charge.

FAQs:

Q: I’m a new Realtor, and I’m guessing that my

questions are asked frequently. Is there another

option for me instead of calling the Legal Hotline?

A: Yes. Check out these legal FAQs in the “Ask an

Attorney” section of floridarealtors.org. Legal

Hotline attorneys have compiled questions and

answers in these categories:

Advertising

Appraisals

Broker Business

Brokerage Disclosure

Code of Ethics

Commercial Lien

Commissions

Complaints

Condominium

Contracts

Disclosure

Escrow

Fair Housing

Federal Law

Landlord/Tenant

License Law

continued

Are You Using Your FREE Benefit? (Legal Hotline)

13

Q: How are Legal Hotline calls processed?

A: Calls are taken in the order they are received. You may have to wait “in line” for your call to be

answered. Last year, the Legal Hotline handled more than 30,000 calls!

Q: My seller/buyer has asked me a legal question. May I ask the Legal Hotline attorney for the answer?

A: No. The advice given on the Legal Hotline is intended only for use by the individual Florida Realtors

member. Parties to a transaction who have a specific question about their legal rights should consult their own

attorney.

Q: An agent with whom I am having a commission dispute called the Legal Hotline to ask for advice about the

dispute. May I also call the Legal Hotline for advice on the same dispute?

A: No. The rules of the Florida Bar prohibit the Legal Hotline attorneys from counseling more than one side of

a dispute.

Q: May I email a question to the Legal Hotline?

A: Yes. Legal questions may now be emailed to the Legal Hotline. Members will receive a live callback from a

Legal Hotline attorney. Ask a question now. (login required)

Q: Is the Legal Hotline a substitute for private counsel?

A: No. Members who require representation in lawsuits, the drafting of specific language or documents or

resolution of problems going beyond the scope of real estate law should consult their own attorney.

Save time: Ask a legal question online

Legal questions may now be emailed to the Legal Hotline. Members will receive a live callback from a Legal

Hotline attorney. Ask a question now. (login required)

Florida Realtors Contracts in Braille and Audio

As you may know Florida Realtors has a Diversity Committee and the task of the Committee is to identify diversity and fair housing education needs and goals, to promote changes in real estate business practices to reflect the growing cultural diversity within the United States, and to share diversity knowledge, expertise, analysis and information with other Florida Realtors® committees as appropriate. One of the tasks of the Committee was to get Florida Realtors contracts translated in Braille and Audio for the visually impaired. Please make sure your members are aware of these

translations. They can be found on Florida Realtors website.

14

Broker Accountable for Affiliate Negligence

Crumpton v. Grissom

In Crumpton v. Grissom, a Tennessee appellate court found that a managing broker

(“Managing Broker”) could be held accountable for the misrepresentations and negligence of

an affiliate broker (“Affiliate Broker”), even though the Managing Broker was not personally

involved in the transaction.

After closing on a mixed-use property, plaintiff Reid Crumpton (“Buyer”) discovered that a

five year non-compete clause in an addendum to the real estate sales contract had been

excluded from some signed copies of the contract. The non-compete clause affected Buyer’s

ability to conduct his business on the premises. Buyer sued Affiliate Broker and Managing

Broker, alleging that Affiliate Broker had made misrepresentations and been otherwise

negligent in regard to the sales contract, and that Managing Broker had breached her duty to

supervise the Affiliate Broker in the transaction.

The trial court entered summary judgment in favor of Managing Broker, holding that she had

no knowledge of the substance or details of the transaction, and that “neither Tennessee

statutes nor Tennessee case law suggests that managing brokers’ duty to supervise their

affiliates can create liability on the part of the managing broker where the managing broker

has no direct involvement with or knowledge of the transaction.”

Buyer appealed the trial court’s ruling, and the appellate court reversed and assessed the costs

of the appeal against the Managing Broker. In its opinion, the appellate court stated that

under the Tennessee Real Estate Broker License Act, it is the unambiguous duty of a

managing broker to ensure that her subordinate licensees “conduct their business in

accordance with appropriate laws, rules, and regulations.” In this case, held the appellate

court, Managing Broker had clearly owed such a duty to Buyer, and had failed to produce any

evidence that she had satisfied this duty.

In short, stated the appellate court, the trial court’s erroneous ruling would, if put into

practice, allow managing brokers to avoid their statutory duties “by simply and purposefully

remaining ignorant of the substance and details” of a subordinate licensee’s transactions.

Crumpton v. Grissom, No. E2013-00218-COA-R3-CV, 2013 WL 6835154 (Tenn. Ct. App.

Dec. 23, 2013). [This is a citation to a Westlaw document. Westlaw is a subscription, online

legal research service. If an official reporter citation should become available for this case, the

citation will be updated to reflect this information]. Taken from AEINS.Realtor.org

03/13/2014.

15

16

We are having the kick-off meeting for the Business Partner Showcase on April 23, 2014 @ 11:30 AM in the conference room at THE RACC. Please RSVP to either Robert Rodriguez Robert@dmrodriguezlaw.com or

myself at melissa@insurecitrus.com by Friday April 11, 2014.

We encourage everyone to attend and get involved. This meeting will be for gathering ideas and picking a

theme for the event. So please be sure to bring all your wonderful ideas with you.

Lunch will be provided

Hope to see you there and we’re looking forward to a INCREDIBLE 2014 BUSINESS PARTNER SHOWCASE!

Thank you!

Melissa & Robert

Great American Realtor® Day

Thirty three Realtors, Business Partners and Guests boarded the bus at

7:00 a.m. on Wednesday, March 19th for Tallahassee. After arriving

everyone gathered at the courtyard for lunch and entertainment.

At 1:00 p.m. we met with Representative, Jimmie T. Smith. He talked

about the tax on commercial leases and the economy of Citrus County.

Everyone then proceeded to the Governor’s mansion for a very

informative tour. Governor Scott and his wife hosted the Florida

Realtors® the night before; therefore, we were unable to see the

Governor. DVP Cheryl Lambert was at the mansion on Tuesday night, and stated it was a very nice reception.

Next we were hosted by Senator Charlie Dean. Senator Dean is asking for money to clean the Citrus waterways as

well as reducing the tax on Commercial Liens. He will fight for The Sadowski Trust Fund not to be raided and be used

for low income housing.

The block party as usual was a big hit. Fried oysters, steamed shrimp, Cubans, black beans and rice, chicken strips and

desserts were just a few of the items on the menu. There were several food and drink stations for the members to

enjoy.

Hope to see all of you in Tallahassee next year.

17

BUSINESS PARTNERS

18

Education Connection Corner:

The court case that ruled that enforcement of

restrictive covenants violates the Fair Housing

Act was the City of Edmonds v. Oxford House

____ True ____ False

HUD has declared it illegal to volunteer

information regarding a current or former

occupant’s disease of AIDS.

____ True ____ False

Email your answers to Melonie@raccfl.com ,

we will draw a winner and that person will

receive a $10 RACC gift Card to use at

Education Classes, RACC Store and

Membership Meeting

Testimonials:

2/27 & 2/28~ 14HR CE Class: Mr. Pilon

gives very informative information. A very

interesting class and great experience with his

many years in the field.

3/11~ Contracts (Part of Orientation): John

does a great job. Very informative and easy

to listen to.

MLS Tidbit:

There have been two new fields added in

Coded Features under Showing:

Lock Box – Supra

Lock Box – Combo

As of April 1, 2014 the fields Lock box call

and lock box will be removed from coded

features (showing). If you have these fields

checked in Innovia on your current MLS listings,

please change prior to April 1, 2014

19

MLS WARNINGS AND FINES FOR MARCH

In March the MLS issued the following to Participants and/or Subscribers: Warnings: Duplicate Listing (0) Wrong Category or Area (9) Pending and Closed (1) Lender owned (0) No Photo (3) Branded Virtual Tour (0) Lockbox Code in Listing (0) Name/Phone# (0) Sign in Photo (0) Alt Key (0) Fine: (0) Violation of the same offense will be subject to the following:

1st offense: Written Notice

2nd offense: $50.00 Fine

3rd offense: $100.00 Fine

• Failure to submit contingent, pending and closed information within two (2) business days.

• Failure to enter a photo. Note: The seller may request in writing a photograph of the property not be included.

• Failure to enter a listing in the correct category.

• Duplicate address and/or alternate key for the same property.

Have you been to www.raccfl.com lately?

After you login (using your MLS login info) you can register for classes, pay any invoices you may have, find videos of past classes, visit the RACC Library and so much more.

20

April

201

Sun Mon Tue Wed Thu Fri Sat

1

Top Producer

Panel 9:00am

RPAC Comm

9:00am

2 3

Bd

Directors

8:30am

4 5

6 7 8

ED Comm

9:00am

Broker & Office

Mgr Meeting

11:30

9

Tech

Committee

1:00pm

10

Chili

Cookoff

5:30pm

11 12

13

Palm Sunday

14 15

ATE

Prospect

Manager

10:00am

16

USDA 101

1:00-4:00

3Hrs CE

17 18

Good

Friday

Bd Closed

19

20 21 22

Fair Housing

9-11am

23

Business

Partner Mtg

11:30

24

MLS BD Mgrs

9:00

ICE 3Hr CE

9 - Noon

So you want to

be a Broker

25 26

27 28 29

Tech Talk

1:00-3:00

30

APRIL 2014

21

22

0

100

200

300

400

500

600

700

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Single Family

Condo

Mobile

Vacant

FEBRUARY and MARCH Residential and Vacant Land MLS Stats

These statistics were taken from the MLS on These statistics were taken from the MLS on

February 28, 2014 March 31, 2014

RESIDENTIAL VACANT LAND RESIDENTIAL VACANT LAND

Active 1826 Active 1780 Active 1744 Active 1796

New 380 New 172 New 384 New 145

Closed 167 Closed 35 Closed 231 Closed 57

Pending 336 Pending 66 Pending 396 Pending 45

BOM 153 BOM 52 BOM 155 BOM 39

Expired 128 Expired 95 Expired 153 Expired 102

Withdrawn 72 Withdrawn 20 Withdrawn 70 Withdrawn 19

Chart displays

Closed listings

Our condolences and deepest sympathy are extended to the following that have lost loved ones recently: The family of

REALTOR® Cheryl Lambert on loss of her Uncle, and Business Partner Jacqui Watkins loss of her Mother, Cecile Meyers.

Sincere Sympathy