SMTAR Bits and Pieces

SMTAR Bits and Pieces http://www.SMTAR.com News and Important Info from the Southern Middle Tennessee Association of REALTORS en-us JUNE 2010 BITS AND PIECES ------------------------------------------------------------------------------------------------------------
WHAT'S INSIDE THIS EDITION

WELCOME NEW MEMBERS

FROM THE PRESIDENT'S DESK

ELECTION TIME

BREAKING NEWS! NEW TREC RULES CHANGE YOUR EDUCATION REQUIREMENTS

TAR LEGAL HOTLINE - LISTED IN 2009, SOLD IN 2010

UPCOMING EDUCATION

DATES TO REMEMBER

GET WELL NOTICES

SYMPATHY NOTICES

IMPORTANT CONTACTS

If you received this newsletter by e-mail and would like to be removed from our mail list, please reply to the e-mail with the word "REMOVE" in the subject line. You will receive a confirmation of removal.

Need some statistics? Find them on our website by visiting www.SMTAR.com and clicking on "News".

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WELCOME NEW MEMBERS

SMTAR is pleased to present new members for the month of May:

Paul Jones - Two Rivers Realty, Linden, TN

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FROM THE PRESIDENT'S DESK

WOW! Things have really been popping since our last newsletter! Our two main events--The Scholarship Golf Tournament and RPAC Auction were overwhelmingly successful!

The Golf Tournament was held on May 20. We had very good participation and raised $3253.00 for our Scholarship Fund. Accolades to the SMTAR Scholarship Foundation Board of Directors: Bonnie Hickman-President, Jason Jent, Jonathan Hickerson, Larry Frederick, Melissa Pyron and Phil Comstock. THANK YOU, THANK YOU for all the hard work and thanks to those who donated prizes and to the hole sponsors. We hope to make this an annual affair, and that next year's will be bigger and better.

The RPAC Auction was fun, fun. Our crowd was down some, but the bidding was lively and spirited. Thanks to those who donated items and thanks to all our bidders. We especially appreciate our auctioneers. They were entertaining and kept everything moving. Jimmy Dugger & his committee--David Perdue, Robert Brindley, Matt Collins, Monica Raines, Jill Elkins, Della Beyer and Jennifer Graham deserve a big THANK YOU! We raised $4169.00, and even though we are still short of our goal by $1955.00, we made a big dent in it.

It is when we have events like these that you realize we have a great association and can all work together. It makes me proud to be your President!

Fay Robinson
President

SMTAR's Facebook link (Be sure to copy and paste the entire link into your browser if you are unable to click!):
http://www.facebook.com/pages/Columbia-TN/Southern-Middle-Tennessee-Association-of-REALTORS/38462364810

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ELECTION TIME

It is almost time to vote for your leadership for 2011! The first step, though, is for YOU to volunteer to participate on the Board of Directors!

This year's candidacy form is availalable online at the link below. Please be sure to submit by June 22nd!

http://www.southernmiddletennessee.com/pdf/Election%20Notice%202010.pdf

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BREAKING NEWS! NEW TREC RULES CHANGE YOUR EDUCATION REQUIREMENTS

Since October of 2008, the Tennessee Real Estate Commission has been trying to pass a set of proposed changes to the TREC Rules, and that has finally come to pass.

A link to a document containing all of the changes is below. However, here are a few that we need to be sure you are aware of:

In the past, it has been understood that licensees were able to continue to work in the event of a transfer from one firm to another even during the period prior to TREC's processing of the paperwork. The new wording of Rule 1260-02-.02 states that the "licensee shall not engage in any activities...until a change of affiliation is RECEIVED AND PROCESSED by the Commission." This means, that once you send in your TREC 1 form to transfer firms, you must not work until TREC says they've made the change.
Rule 1260-02-.12 requires your websites that display the listings of others to include a statement that "some or all of the listings may not belong to the firm whose website is being visited."
Rule 1260-05-.12 (3) C Prohibits licensees from receiving continuing education credit for courses taken in prior licensing periods.
Finally, please be aware that the CORE course for 2011/2012 has been increased from 4 hours to 6 hours. Despite this change, the total number of hours that affiliate brokers will be require to complete each renewal period will remain at 16.

CLICK HERE FOR NEW RULES
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TAR LEGAL HOTLINE - LISTED IN 2009, SOLD IN 2010

3. HOT LINE: Listed in 2009, But Sold in 2010?

QUESTION: If property is listed in 2009 using 2009 forms and a contract is written in May 2010 using the 2010 Purchase and Sale agreement, do all the 2009 listing documents need to be redone using 2010 forms?

ANSWER: As long as the most current version of the form was used when it was executed, then everything is fine. You will just need to make sure that all disclosures were made according to F85 if they were present. Several of the provisions of that form were enacted during 2009.

Therefore, if the seller knows of an exterior injection well, soil absorption rates, percolation tests or if the home was moved from one foundation to another, it must be disclosed. In addition, if the property is in a PUD, the seller must disclose this as well.

[SOURCE: TAR Legal and Ethics Hot Line Attorneys]

Reprinted from TAR Digest 6-1-10

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UPCOMING EDUCATION

Ethics
Wednesday, June 16, 2010
CANCELLED DUE TO LACK OF ATTENDEES

RealTracs 1
Wednesday, June 16
12:30PM - 3:30PM
You must have an MLS User ID to attend. Please use the following procedure to register: FREE. Register online with this REGISTRATION FORM or call 931.381.5556 for registration information, or e-mail SMTAR@RealTracs.com.

RealTracs Training
Thursday, June 17, 2010
CANCELLED DUE TO LOW INTEREST

Ethics
Wednesday, July 21, 2010
9:00AM - 12:00 PM 3 Hours of CE
Cost is $40, DISCOUNTS are available. Register online with this REGISTRATION FORM or call 931.381.5556 for registration information, or e-mail SMTAR@RealTracs.com.

RealTracs Training
Thursday, July 22, 2010
Two Sessions Available: RealTracs 2 and/or Tax
You must have an MLS User ID to attend. Please use the following procedure to register:

Open your web browser and log in to RealTracs.net
Click the following link or type it into your browser address bar AFTER you have logged in to RealTracs: http://www.realtracs.net/MemberInfo/Training.aspx?tab=0

DON'T FORGET OUR ONLINE COURSES AT WWW.SMTAR.COM!!!!

DATES TO REMEMBER

June 22 - Deadline for Submission of Candidacy Form for Board of Directors
July 5 - Association CLOSED for 4th of July Holiday

GET WELL NOTICES

Billy Crowe - Lampley Realty, Columbia
Faye Grover - Real Estate Services, Lawrenceburg
Kay Daughrity - White/Woodard Realty, Columbia
Marsha Hendry - White/Woodard Realty, Columbia

SYMPATHY NOTICES

Dixie ("Dixie-Do") Blackwell - granddaughter of Lisa Morris with David Jent Realty in Chapel Hill

IMPORTANT CONTACTS

Association Office		931.381.5556
Mary Scott, Association Executive	scottm@realtracs.com
Rebecca Head, Office Manager	rebeccah@realtracs.com
Tammy Brown, Administrative Assistant	tammyb@realtracs.com

SMTAR 2010 President
Fay Robinson		931.363.7515
robinfay@realtracs.com

RealTracs (Middle Tennessee Regional MLS)		800.397.9282
Member Login: www.RealTracs.net
Public Login: www.RealTracs.com

2010 MLS Director
Matt Collins		931.359.6231
matt@grovercollins.com

Tennessee Association of REALTORS(r)		615.321.1477
www.TARNET.com

Tennessee Real Estate Commission		800.342.4031
www.state.tn.us/commerce/boards/trec

National Association of REALTORS(r)		800.874.6500
www.REALTOR.org

Sun, 13 Jun 2010