BCAR March 2011 Newsletter

The bill authorizes the permitting and construction of terminal groins at inlets under the following conditions: (1) the permit applicant has complied with all of the specified permit application requirements; (2) the permit applicant has provided notice to any property owners and local governments identified in the required engineering design as potentially affected by the construction of the proposed terminal groin; and (3) the construction of the terminal groin must be accompanied by a concurrent beach project to pre-fill the groin. Also, the proposed legislation provides limitations on the number of terminal groins that may be placed on each ocean shoreline immediately adjacent to an inlet and on the ocean shoreline of an inlet when the shoreline is immediately adjacent to a federally maintained navigation channel associated with a state port.

Introduction of this bill has been difficult as the coastal folks have been at odds on how many to allow. SB 110 does not limit the number but it is widely thought that the House will limit it to between 4-6 on a first come first served basis.

Transfer Tax Repeal Legislation Introduced

NC REALTORS® government affairs staff has been lobbying hard this week for House Bill 92, (Repeal Land Transfer Tax), sponsored by Reps. Julia Howard (R-Davie), Edgar Starnes (R-Caldwell), Bill Brawley (R-Mecklenburg) and Jonathan Jordan (R-Ashe). The bill, which was introduced last week, is expected to be heard soon in the House Finance Committee and already has strong support in the House as 49 Representatives have signed on as co-sponsors. To follow the progress of the bill and to

CLICK HERE to read more!

President's Message

Pete Frandano

I hope you had a good February!

This month, I want to dedicate my segment of our newsletter to the topic of Legislative and RPAC (REALTOR® Political Action Committee)

First, let me reiterate: RPAC is bi-partisan – meaning it is not Republican or Democrat – no political party affiliation whatsoever; one of RPAC’S overarching goals is to support issues that are important to the REALTOR® community, our clients and private property rights. In a way, it is similar to a watch dog group for REALTORS®, our clients, issues important to private property owner rights and the very health of our industry.

It is imperative that we as an Association and as REALTORS® remain vigilant and informed on key issues including, Insurance increase referendums, the Mortgage Interest Deduction debate, the continuing fight to defeat the transfer tax, the discussion currently going on again regarding mortgage loan modification, the flow of credit (or lack thereof) to qualified borrowers, the issue of terminal groins and other important topics that impact our coastal community. In this historic economic environment, it is more important than ever that we remain active and informed at our community, state and national levels.

One tangible way for us all to have a positive and direct impact: PLEASE sign up and respond to all REALTOR ® Calls for Action. I have seen through experience the power of ‘WE’: we as an Association and a group truly do make a positive difference in Raleigh and in Washington DC. We had a great response to the Broker Involvement Program workshop held at our Association office in December. Please contact me or any of your leadership team if you have any questions about this program. It is easy to set up and a great tool to use for staying educated on and positively impacting issues that impact our clients, private property owner rights and our industry directly. If you are not signed up, please follow the link below to the REALTOR® Action Center to sign up and begin.

I realize times are very tight for all of us – but if possible I encourage you to make a donation to RPAC if you are able to (every dollar counts and makes a difference); if you are not able to do so, you can still be very involved and make a tremendous impact. Please mark your calendar for the following dates: April 4 – this will be our

CLICK HERE to read more!

101 Stone Chimney Place hosted its 2^nd Annual Community Blood Drive on Friday, February 18, 2011. The blood drive brought in twenty seven donors, six first time donors were present and the American Red Cross was able to collect 24 units. Thanks to the donors and the volunteers for your help at the registration and canteen. Sabrena Reinhardt says the American Red Cross helps with promotion, supplies, and event setup. Ms. Reinhardt also stated that the American Red Cross makes it so easy to host the blood drive and looks forward to hosting the event again in the future.

Vicki LaBelle, Executive Director for the American Red Cross stopped by to thank 101 Stone Chimney Place and the Brunswick County Association of REALTORS® for hosting the drive. Ms. LaBelle was very impressed with the facility and the amount of volunteers that we had to help support this very important event.

Shallotte Las Vegas Night Testimonial

Our 6^th annual Las Vegas Night held at 101 Stone Chimney on January 30, 2011 was by far the best ever. With the valued input of their Director, Sabrena Reinhardt, the Shallotte Rotary Club’s annual fundraiser has been elevated to "event" status in Brunswick County. This year our paid attendance was 350 plus another 30 volunteers. This is an increase of 66% over 2010.

Three years ago we moved the event to 101 Stone Chimney. The previous 3 Las Vegas Nights had been little more than a gathering of a few friends to raise some money for Rotary. We had limited support from the business community.

Everything started too change when we signed on with 101 Stone Chimney and utilized its first class venue; our guests looked forward to returning, told their friends plus the business community really got behind the event.

Comments from our guests this year ranged from "very organized for a packed event" to "great food", "terrific sound system", "well run", "great facility".

The setup for Las Vegas Night is very labor intensive and Sabrena and her crew worked to help with the more complicated decorations.

We are now talking to Sabrena about how to expand this further and as usual she has some ideas. In a few months, we will start the planning for the 2012 "Event". Of course Sabrena has reserved 1/28/2012 for us.

Our club is so thankful to have this facility available to us.

Vince Bacchi

President – Shallotte Rotary Club

Affiliate Member – Union Mortgage Group.

If you want to learn more about 101 Stone Chimney Place

contact Sabrena Reinhardt via Sabrena@bcarnc.com or 910.754.7050.

Who says there is no such thing as a free lunch?? There is if you take a BCAR Continuing Education class! The reason BCAR can offer a free lunch is because of our Affiliate Sponsors. Many thanks to the following Affiliates for sponsoring February's Continuing Ed taught by Bill Gallagher:

Rick Crocker from Moldstoppers of Wilmington

Ashley Sikka from Summerwoods

Retirement Central

REALTORS® FCU can provide all of the resources you need to help guide you along the path to securing your financial future. Choose from Traditional, SEP and Roth IRA savings or Traditional, Roth and SEP IRA certificates with great rates. Opening balances are from $1,000-10,000 and a variety of terms. Go to Retirement Central NOW!

Once you open your Individual Retirement Account (IRA) you can easily view your balance & account activity at any time within Online Banking.

Message from - Tori Humphrey, Region 2 Vice President

Greetings from your RVP! Spring has sprung and we all are so very happy to see that it has!!! Just a real quick message to ask you to please consider saving the date for our Legislative meetings. This year it is in April. April 13^th, if we want our politicians to do things we need done we need to be in front of them. There are so many people who want taxes on our services and transfer taxes and so many other programs, which would not be good to our industry. Lets get in front of them! Please save the date! There will be transportation in the form of a bus or a van. Lets see if we can’t fill up the bus!!

Risk Watchline

QUESTION: I just entered into a buyer agency agreement with a close friend who is considering the purchase of a very expensive home. I feel guilty about keeping what will be a very large commission if the transaction closes. Can I offer to rebate half of my commission to my client even though my client is not a licensed agent?

ANSWER: Yes. Many agents are surprised to learn that there is nothing illegal or unethical about sharing compensation with a party to a transaction. The general rule is that licensed agents may not share compensation with unlicensed persons for any acts performed in North Carolina for which licensure by the Real Estate Commission is required. However, no license is required for a buyer to buy property, or for a seller to sell property. Therefore, sharing compensation with a party is permitted. Agents should be aware that to the extent money or things of value are given to any party, that transfer must be reflected on the HUD-1 settlement statement in order to avoid any allegation of loan fraud. In some cases, lenders will not approve a loan transaction where a rebate is given. An example is where the rebate is the sole source of the buyer’s down payment. For this reason, an agent’s promise to rebate a portion of his fee to his buyer client should always be conditioned on the lender’s approval of the rebate.

Have a legal question? Call our Risk Watch Line at 1-800-443-9956

INFO CENTRAL

• Understanding How Fannie, Freddie Reform Might Look

NAR Analyst Tony Hutchinson webinar, Thursday, March 31 at 3PM

• FREE Ultimate Business Plan Builder for 2011

• NEW Web Site for Designation/Certification Courses

• Create Curb Appeal for YOUR Photos

• What Kind of Animal are You in Business

• Marketing Strategies: Tips to Find Success in Today's Market

• How to make the "TEAM" Concept Work

• Learn to Calculate Commercial Lease Area

• Mostly Free Tech Tools

BCAR UPCOMING EVENTS - SIGN UP NOW & SAVE THE DATE

Your browser does not support inline frames or is currently configured not to display inline frames. Your browser does not support inline frames or is currently configured not to display inline frames. Your browser does not support inline frames or is currently configured not to display inline frames.

IMPORTANT Links & Information

• NCAR Partners - login to NCAR Extranet required

• NCAR Member Video - Benefits of NCAR Membership
• BCAR Logo Request - use the BCAR Logo on your website or advertising!
• Code of Ethics Poster - Show the YOU Abide by the Code - display this poster alongside your real estate license
• Professionalism in Real Estate Practice brochure
• BCAR Staff
• Board of Directors
• MLS Rules & Regulations (NEW UPDATED FEB 2011)
• Bylaws (updated OCTOBER 2010)
• Policy Manual (updated NOVEMBER 2010)

• BCAR Member Forms - Transfer, Termination, Resignation

• Brunswick County Chamber of Commerce

• Southport Oak Island Chamber of Commerce

• North Brunswick Chamber of Commerce

• Brunswick County Information - Brunswick County Tourism Authority

BUDGETS, BILLS & DEADLINES - mark your calendar!

3/10/11 2nd Q MLS & Supra Billing - check your email

4/1/11 MLS & Supra bills DUE - must be paid to avoid late fees

4/2/11 Late fees assessed

4/18/11 Services terminated for non payment

The Graduate REALTOR® Institute (GRI) 300 Series - in Cary

GRI 300 series is a 4 day program consisting of the 301, 302, 303 & 304 Courses.

(NOTE: If you completed the 200 series prior to 12/31/09 DO NOT REGISTER ONLINE FOR THIS SERIES - Contact Ellie Edwards at eedwards@ncrealtors.org to receive a modified registration form that reflects a discounted rate!)

March 21 - 24 http://www.ncrealtors.org/extranet/GRIcourse_detail.cfm?uid=203

Click Here for Print Version

please be patient - may take a minute to open!