Suburban West Realtors Association
Suburban West Weekly
January 9th, 2019
IN THIS ISSUE
Bright MLS Launching Live Clinics
on YouTube

Revised Agreement of Sale Available
for Use

Attention eKEY Subscribers - Your
Phone App is Being Updated

Philadelphia Region Commercial
Real Estate Outlook for 2019

  
Learn to Run a More Efficient Business
with the e-Pro Certification Course

FEMA Revives Flood Insurance
Sales After Backlash

Calendar of Events
  



Bright MLS Launching Live Clinics on YouTube

Get more out of the new Bright MLS with Bright's new Live Clinics on YouTube. These live clinics will be offered on Mondays, Wednesdays and Fridays throughout January and will cover: time-saving tips & tricks, top support center questions and an opportunity to ask your questions to the live instructors. The schedule is set-up as follows:
  • MONDAYS - January 14th, 21st and 28th; 10:00am
  • WEDNESDAYS - January 9th, 16th, 23rd and 30th; 2:30pm
  • FRIDAYS - January 11th, 18th and 25th; 12:30pm
To ensure that you're ready:
  • Create Your Own YouTube Channel - this is not required to attend the live event. Create your channel by visiting www.youtube.com/create_channel. Need instructions? You can find them by searching for “Create a New Channel” in YouTube Help or by clicking here.
  • Subscribe to Bright’s YouTube Channel - get notified any time BRIGHT goes live or new videos are posted. Turn on notifications by clicking the bell icon next to the Subscribed button. Subscribe on Bright’s YouTube Channel at www.youtube.com/brightmls or subscribe here. 
Please note that registration is not required for these events. For questions, please contact Bright MLS directly via training@brightmls.com or call 1844-552-7444. 

Revised Agreement of Sale Available for Use

The Pennsylvania Association of REALTORS has released 4 revised or new forms for 2019.  All the new forms are available in your zipForms account now. You can view color coded forms highlighting the changes at PAR’s website. (PAR Login required). Revisions to the Agreement of Sale include:
  • A statement in the Mortgage Contingency acknowledging the Seller’s right to require a pre-settlement possession addendum in the case of buyer making mortgage lender requested repairs prior to settlement. (paragraph 8)
  • Clarification of the purpose of pre-settlement walk through inspections (paragraph 12)
  • A statement that seller will provide water for hydraulic load testing of on-lot sewage systems (paragraph 12)
  • Multiple statements in the Inspection Contingency requiring buyer, in all instances, to present all inspection reports to the seller (paragraph 13)
  • A clarification of the actions available to both buyer and seller during the negotiation period (paragraph 13)
  • A statement providing that the buyer will order a title report within a stated number of days and upon receipt deliver a copy to the seller (paragraph 14)
  • Addition of language concerning temporary access certificates as may be provided by Municipalities in accordance with the 2016 amendment to the Municipal Code and Ordinance Compliance Act (paragraph 15)
Other forms revised or new include a form to assist REALTORS in complying with a new standard of practice 1-7 of the Code of Ethics requiring Listing Brokers to provide written affirmation of a Seller’s instructions to discontinue the presentation of offers. 

Attention eKEY Subscribers - Your Phone App is Being Updated

Over the past week, many Suburban West eKEY subscribers have received (or will be receiving soon) an update to the app on their iPhone or Android device. If you have automatic app updates turned on, the app will automatically update when it is available. If you don’t have automatic updates turned on, you can download the new eKEY app in the app store. Note that when accessing the updated application for the first time, you will be prompted to reaffirm your agreement to the terms and conditions of the application. Once you say yes, you’re on your way with the new application. Please be aware that the minimum requirements for the new eKEY app are: Apple iOS 10 or greater; or Android OS 5 or greater. If you don't have those OS requirements, the old app will still work, but it will not receive future updates.
For more details on the eKEY app refresh; click here, call 877-699-6787 or email SUPRA Support.

Philadelphia Region Commercial Real Estate Outlook for 2019

Which property types are set to remain hot in 2019 and which will cool off? How are trends in construction, leasing, investment sales, and submarket performance likely to trend in the Philadelphia area during the year ahead? CoStar’s Philadelphia Market Economist, Adrian Ponsen, will answer these questions during the Philadelphia Region Commercial Real Estate Outlook for 2019 seminar on January 23rd; 10:00am-11:00am in Malvern.

The presentation will start with analysis and commentary on how U.S. economic trends will likely impact Philadelphia in the new year. Next, Adrian will cover the outlook for Philadelphia’s apartment, office, and industrial sectors with a focus on performance in the quarters ahead. Click here to register (once logged in, scroll over "Events" then click on "Upcoming Meetings"). 

Learn to Run a More Efficient Business with the e-Pro Certification Course

Technology has changed more in the past five years than it has in the past fifty years. It has fundamentally changed how people communicate in their day-to-day lives. Today's real estate professionals need to have the technology and social networking skills and know to engage consumers using a wide variety of new online communication methods. Attending the two-day e-Pro Certification course (February 5th & 7th; 9:00am-5:00pm) will help attendees understand the changes in consumer behavior and communication. Click here to register (once logged in, scroll over "Events" and then click "Upcoming Classes").

FEMA Revives Flood Insurance Sales After Backlash

The Trump administration restarted the sale of flood insurance policies during the partial government shutdown. Although the National Flood Insurance Program (NFIP) had received a months-long extension shortly before the shutdown began, the Federal Emergency Management Agency (FEMA) instructed insurers not to sell new NFIP-backed policies during the shutdown, because fees that FEMA pays to insurers may be considered “an impermissible funding obligation.” A bipartisan group of lawmakers and business groups said FEMA’s decision threatened thousands of home sales and contradicted the flood insurance reauthorization bill enacted in December, leading FEMA to reverse its decision.

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
  Equal Housing Opportunity Realtor
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