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- REALTORĀ® Happy Hour and Affiliate Expo
- New REQUIRED Member Training Course Now Available
- Fannie Mae Downgrades Home Sales Expectations
- Bright MLS Reporting Times Updated July 1
- July Education Classes
- How Much Do Buyers Really Know About the Buying Process
- Standard Forms Update Information
- Livestream Education Bill Heads to Governor's Desk
- Calendar of Events
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REALTORĀ® Happy Hour and Affiliate ExpoTri-County Suburban REALTORSĀ® is happy to announce the upcoming REALTORĀ® Happy Hour and Affiliate Expo!Ā
Join us at The Desmond Hotel - Sunset Grille in Malvern on Thursday, July 28, from 5 to 7pm for a fun evening of camaraderie and networking. The event will be held outdoors on The Desmond's private tented deck.Ā The Happy Hour includes:
- Expo featuring Affiliate Sponsor Tables
- Free Open Bar from 5-6pm followed by Cash Bar till 7pm
- Free Appetizers
- Networking with REALTORSĀ® and Affiliates.
Because of limited capacity, pre-registration is required. Walk-ins will not be permitted.Ā
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New REQUIRED Member Training Course Now Available
The preamble to the REALTORĀ® Code of Ethics advises that "REALTORSĀ®" will explore the Golden (and Platinum) Rules and contemplate whether they are enough. From there, we will discover and apply the process of problem solving and decision making. How do the perspectives and values of the decision maker affect the process and the outcomes? What role do REALTORSĀ® have in the decision-making process of their clients?
This course, and only this course, fulfills the 2022-2024 Tri-County Suburban REALTORSĀ® required membership education. There is an ethics component to this class so that it will also satisfy the National Association of REALTORSĀ® 2022-2024 required Code of Ethics training.
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Fannie Mae Downgrades Home Sales ExpectationsHigher mortgage rates are now "housing market's primary constraint," economists at Fannie Mae said in a new forecast predicting home sales will fall 13.5% this year. The latest forecast from Fannie Mae's Economic and Strategic Research Group paints a more dire picture than May's forecast.Ā ( Haven't activated your member-benefit InmanSelect Account?Ā Register Now! )
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Bright MLS Reporting Times Updated July 1Recognizing that "calendar days" is more recognizable than "business days" and that technology has made it possible to communicate beyond the limitations of a Monday-Friday work week, Bright MLS has revised its reporting times for entering a listing and updating statuses. Both events must be recorded within two calendar days. Additional updates to the Bright MLS rules and regulations clarifying obligations for showings and negotiations.
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July Education ClassesĀ Hit a home run with next month's continuing education options. Both courses offer Broker Education credit and the July 11 class is a NAR Designation Course:
- Real Estate Negotiation Expert | July 11 and 13, 9am-4pm each day
The RENE Certification is designed to elevate and enhance negotiating skills so today's real estate professionals can play the game to win. - Real Estate Investment | July 19, 21, 26; August 2, 4, 10, 9am-2pm each day
This course will cover the fundamentals of real estate value, forms of ownership, taxation, financing, and cash flows and projections as they apply to real estate investment. The course satisfies 2 of the core credits necessary for real estate broker license education in Pennsylvania.Ā
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How Much Do Buyers Really Know About the Buying Process?In a recent survey from MoneyWise, consumers were unclear on many common real estate terms. Nearly 40% of consumers in the survey couldn't correctly define closing costs, 42% couldn't define annual percentage rate as well as mortgage and close to half couldn't correctly define down payment. A whopping 62% could not define mortgage rate.
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Standard Forms Revisions Coming July 1Changes to Standard Forms generally come about in one of two ways. Sometimes a change to law, regulation or the REALTORĀ® Code of Ethics will require a change. More often, change happens when members request it directly by submitting suggestions or indirectly when the PAR Legal Hotline analyzes call volume on a particular form. The most recent changes, taking effect July 1, 2022, are largely a result of analysis by the legal hotline that revealed much confusion about certain forms. The forms affected are: the sale agreements, the listing contracts, the Broker's Request for Affirmation, the Appraisal Contingency Addendum, the Price Escalation Addendum, and the Multiple Offer Summary worksheet. One new form is being released: a Change in Lease Terms Addendum to Commercial Lease. A summary of the updates can be heard in the PAR Legal Update Webinar.
Members can learn more about the changes by viewing the redlined versions of the forms and the guidelines for preparation and use for each form.
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Livestream Education Bill Heads to Governor's Desk
The Pennsylvania Senate passed House Bill 1849 on June 15, sending the bill to Gov. Wolf for his signature. The bill would amend the Real Estate Licensing and Registration Act (RELRA) to permanently allow real estate education courses to be conducted via livestream methods. The bill was sponsored by state Rep. Todd Polinchock (R-144), of Bucks County, a REALTORĀ® and former board chairman of the Suburban REALTORSĀ® Alliance. The Pennsylvania Association of REALTORSĀ® advocated for the legislation and expressed gratitude to Polinchock for championing it.Ā Source: PAR; 6/15/2022
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