Monday, May 3, 2010

Weekly Facts Blog – May 3, 2010

Based on a decision by the Oklahoma Supreme Court and the recommendation of NORES Legal Counsel, the NORES Board of Directors approved taking action to begin the process of removing square footage data from all active listings and information available through NORES. The Board also approved taking action to recommend changes in the sales contract and other supplemental forms. The Board intends to request the participation of the other REALTOR® Associations in the State to propose legislative action to address the potential liability for the disclosure of square footage data.
According to the Oklahoma Supreme Court decision, “A buyer of real property may rely upon the positive representations of REALTORS® and sellers about the size of the property to be conveyed.” The buyer is not obligated to conduct an investigation to determine the actual square footage if such a representation is made. The Court held that a waiver and release signed by the buyer did not protect the REALTOR® from liability for any detriment suffered by the buyer, or from allegations that the REALTOR® violated the Oklahoma Real Estate License Code by misrepresenting the size of the home.
At this time, the Board recommends you cease providing any square footage data to a buyer, including information available through the MLS. The Board also recommends any advertisements of homes, including online and print media, not include any square footage data. To read the OSC decision in its entirety: Click Here

GTAR Home Sales Statistics for March 2010 are Now Available
Click Here

CRS 111: Short Sales and Foreclosures: Protecting Your Clients’ Interests
Cost on or before May 10 is $99; after that date cost will be $129. Learn practical approaches to the pre-foreclosure and foreclosure processes that will result in the successful disposition of these properties. Get the tools you need to negotiate successfully with financial institutions, sell and List REO and short sale properties, implement a step-by-step process for counseling clients, and more. Class is Wednesday, May 26, 8:30 a.m. – 5:00 p.m. in the GTAR Training Center with nationally recognized instructor, Frank Serio. (This course is open to all members; you do not need to be a CRS or earning your CRS.) Register online at on the main Member Services page, click on the red Education button, then click Register for Classes.  Click Here for Course Details

Thursday, May 13
Floodplain: Commercial Real Estate Problems & Solutions
In this new course, commercial real estate professionals will learn about floodplains—regulations, types (FEMA vs. City of Tulsa Regulatory Floodplain), and their impact on properties. Learn to determine if a property is in a floodplain, find out if it can be removed if it is, and if it can’t, learn what can be done to minimize the impact on the property. 9:00 a.m. – 12:00 p.m. in the GTAR Training Center with instructor Mike Marrara and guest speakers from the City of Tulsa and U.S. Army Corp of Engineers. Course is currently pending CE credit with OREC; the focus will be on commercial properties but class is open to everyone. Register online at on the main Member Services page, click on the red Education button, then click Register for Classes. Click Here for Course Details

Upcoming Computer Classes at GTAR
Pre-registration is required. For more information or to enroll, log in to and click the red Education bar on the main page. All classes are held in the GTAR Computer Lab.
Tuesday, May 11: Computer Basics, 1:30 – 4:30 p.m.
Wednesday, May 12: Publisher Class, 1:30 – 4:30 p.m.
Thursday, May 13: Realist Tax System, 1:30 – 4:30 p.m.

Do You Know You Can Take Any or All of Your 21 Hours of CE Credit Online?
GTAR has partnered with McKISSOCK Education Online to offer a wide range of Oklahoma-approved continuing education courses for real estate associates and brokers, as well as real estate appraisers. Take CE classes on your schedule, 365 days a year, 24 hours a day. Click on the following link to check out McKissock: GTAR Online Education

REALTOR® Magazine Seeks Good Neighbor Nominations
REALTOR® Magazine, the official publication of the National Association of REALTORS®, is seeking your help in identifying nominees for the 2010 Good Neighbor Awards. The program--now in its 11th year--recognizes REALTORS® whose extraordinary commitment to community service has helped make their communities better places to live. In November, five winners will be announced and receive a $10,000 grant for their community cause, travel expenses to the NAR convention, and extensive publicity to benefit their cause. In addition to the winners, five honorable mentions will receive $2,500 grants. Click Here for Details Deadline for entries is Friday, May 21, 2010.

REALTOR® Applications
Comments on the following REALTOR® applicants should be submitted by REALTOR® members to the Membership Committee, c/o GTAR, PO Box 470603, Tulsa, OK 74147.

Robert K. Rizley, Rizley & Associates (Second Publication)
Firm Afffiliate:
Woods-Gallardo Agency, Designated Individual Jim L. Woods (Second Publication)
MLS Waiver Request:
Tricia Gentry, Properties Plus (First Publication)
Robert Surrett, associated with Leadership Properties (Second Publication)
CIE Waiver:
Brian Hunt, CB Richard Ellis/Oklahoma (First Publication)