Suburban West Realtors Association
Suburban West Weekly
December 30th, 2019
IN THIS ISSUE
  • 2020 Code of Ethics Released

  • Tickets Are Now Available for Purchase for the 2020 Installation Event in West Chester

  • Standard Forms Revisions for January 2020

  • Association Office Holiday Schedule

  • Local County Tax Update for 2020

  • Leadership Development Program Applications Are Due by January 3rd

  • Reminder: Realtor® Dues Cycle 2 Deadline is December 31st

  • Calendar of Events 
  

 



2020 Code of Ethics Released

The NAR Professional Standards Committee, at the request of Realtors® or on its own initiative, regularly reviews the Realtor® Code of Ethics for clarity and for compliance with current law and practice. The 2020 edition of the Code of Ethics, effective January 1st, 2020, can be found here. Below is a summary of what’s new or reviewed:
  • Article 1: Standard of Practice 1-7 has been amended to add the words “as soon as practical” to the requirement for a listing broker to provide “a written affirmation to the cooperating broker stating that (an) offer has been submitted to the seller/landlord, or a written notification that the seller/landlord has waived the obligation to have (an) offer presented.” This amendment was initiated by Realtors® in Pennsylvania after a formal request by the PAR Professional Standards Committee. 
  • Article 3: Standard of Practice 3-11 is new and serves to remind Realtors® that cooperation between Realtors® is required regardless of a broker’s race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.
  • Article 12: Standard of Practice 12-1 and 12-2 were combined into one to clarify a Realtors® requirement to present a true picture when advertising their time or services as “Free”. 
This cycle's Membership Renewal Training Requirement course, Ethics Over Instincts - Sharpening the Real Estate GPS is due of all SWRA Realtor® members by December 31st, 2020 and will review and identify best practices to work professionally, legally & ethically. Click here to see an updated calendar of classes (once logged in, scroll over "Events" and then click on "Upcoming Classes"). Please note that this requirement is separate from continuing education.

Tickets Are Now Available for Purchase for the 2020 Installation Event in West Chester

Join the Suburban West Realtors® Association in a celebration of its new leadership! All members are invited to attend the 2020 Board of Directors Installation Event (January 15th; 5:00pm-8:30pm) at the Penn Oaks Golf Club in West Chester in honor of your 2020 Board of Directors and its new Chairman, Kit Anstey. The event will feature:
* Open bar from 5:00pm-6:30pm
* Installation ceremony of your 2020 Board of Directors
* Hors d'oeuvres, dinner buffet and desserts
* Live entertainment featuring Ben Singleton and the People's Choice Band
* Networking with Realtor® and Affiliate members
Don't miss our premier event of the winter season! Purchase your tickets today (once logged in, scroll over "Events" and then click on "Upcoming Meetings") for this fun and festive celebration to recognize the leadership of your Association!

Standard Forms Revisions for January 2020

Revisions to nine PAR Standard forms addressing issues related to smart technology will appear on January 1st, 2020. A summary of the changes prepared by PAR can be found here. Here is a brief summary of what to expect:

* Sales agreements will call more attention to items that may or may not be included with the sale of a property. (form numbers ASR, ASC and ASMH)

* Buyer and tenant contracts will contain a new warning to clients about recordings on a property. (form numbers BAC and NBA)

* Seller and landlord contracts will also contain a notice about recordings by both parties. (form numbers XLS, XLSC, XLR and PMA)

Marked up samples of the forms highlighting the changes can be viewed here. 

Association Office Closed for New Years

On behalf of the Suburban West Realtors® Association, we hope that all members have a happy and safe holiday season. In consideration of business you may have with the Association, please take note of the following office closings. The office will be closing early at 12:00pm on Tuesday, December 31st and will be closed on Wednesday, January 1st for New Years. The office will re-open on Thursday, January 2nd at 8:00am.

Local County Tax Update for 2020

County taxes in Chester, Delaware and Montgomery will remain the same in 2020. Please see a brief review of them below:
Chester County: Property owners in Chester County will pay the same rate in county real estate taxes next year under the 2020 budget. The real estate tax rate levied by the county remains at 4.369 mills, with a projected tax of about $730 on an average home with a market value of about $340,000. This is the fourth consecutive year that the county real estate tax has stayed the same.  A mill is worth $1 for every $1,000 of assessed property value.
Click here to read more on Delaware and Montgomery counties.
For more news items from the Suburban Realtors® Alliance, click here to access their Weekly News Briefs.

Leadership Development Program Applications Are Due by January 3rd!

Now in its sixth year, the Association's Leadership Development Program's objective is to empower our members to maximize their leadership potential and to encourage those individuals to serve in industry and Association related leadership roles. The two-month winter curriculum begins in February and applications are now live! Click here for full details and to access the application. Deadline to apply is this Friday, January 3rd, 2020. Questions? Contact Kristin Tornetta.

Reminder: Realtor® Dues Cycle 2 Deadline is December 31st

 Are you still unpaid for the 2020 Realtor® membership year? If yes, please note that the deadline to submit your dues during Cycle 2 is December 31st. In addition to ensuring that your membership is not interrupted, you will realize savings over the membership fees charged during Cycle 3 (January 1st-January 31st). 
Members still needing to submit dues can click here to pay online through our secure ims system. Questions? Please contact SWRA Bookkeeper Cathy DiMarco by calling 610-560-4800.
How Do I Save? How Do I Purchase the Pass?

Calendar of Events
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Suburban West REALTORS Association
1 Country View Road, Suite 201, Malvern PA 19355
P: 610-560-4800 | F: 610-560-4801		 Association of REALTORS School
1 Country View Road, Suite 101, Malvern PA 19355
P: 610-560-4900 | F: 610-560-4801
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