Monday, July 12, 2010

Weekly Facts Blog – July 12, 2010

Pre Order the iPhone eKEY Adapter
We are excited to announce that we are getting very close to releasing eKEY for iPhone. We want to give you the first opportunity to pre order the Supra eKEY Adapter. What is the Supra eKEY Adapter? It is a small device that plugs into the 30-pin-connector on the bottom of the iPhone. This device contains an Apple-authorized chip that allows the iPhone to communicate with the iBox using low-powered Infrared. It is designed to attach to a key chain when not in use and does not require batteries. To learn more about the Supra eKEY Adapter, Click Here Pricing: The Adapter price will be $58.90 plus tax. In addition to the quarterly key system access fee of $29.25, there will be an additional Quarterly fee to use the iPhone as your key: Basic service $25.35 or Professional service (which will be available at the end of the year) $49.35. Shipping Details: We estimate that we will receive the adapters around the end of August. How to Order: Please contact NORES at 918-663-7500 or by email to pre-order Supra eKEY Adapters. Your account will not be billed until the adapters arrive. Orders are due by Friday, July 16 at 11:30 am.

July CE Classes at GTAR
For more information on the following CE classes, and to register: log on to, from the Main Menu click the red Education bar, then click Register for Classes. All classes will be in the GTAR Training. OREC required FHR and BRA classes are held quarterly at GTAR; PSC is held every other month; and HOT courses are offered at least once a quarter.

REALTOR® Ethics: Thursday, July 15, 1:00-4:00 p.m. (required PSC CE)
Fair Housing and Ethical Practices: Tuesday, July 20, 1:00-4:00 p.m. (required FHR CE)
OK Broker Relationships: Monday, July 26, 1:00-4:00 p.m. (required BRA CE)

Upcoming Computer Classes at GTAR
Pre-registration is required. For more information or to enroll, log on to and click the red Education bar on the main page. All classes are held in the GTAR Computer Lab.

MarketLinx 1: Monday, July 19, 1:00 – 4:00 p.m.
MarketLinx 2: Wednesday, July 28, 1:00 – 4:00 p.m.
MarketLinx 3 (Prospect Gateway): Friday, July 30, 9:00 – 11:00 a.m.

July 22
RCA Insight Social
A commercial REALTOR® networking event: First Place Towers in beautiful downtown Tulsa. Come join us for a commercial networking event with other commercial REALTORS®. In contrast to our usual event, we will not have any speakers. In other words, come socialize with us. Appetizers and a cash bar will be available. More details to follow.

July 28 and 29
Broker in Charge Course
Attention ALL Real Estate BROKERS: Your OREC Continuing Education Requirements are changing! If your license type is a Broker Manager (BM), Proprietor Broker (BP), or Branch Broker (BB) (even if only for ONE day during that license term) AND your real estate license expires on or after June 30, 2012, then you are required to complete an approved 15-hour Broker in Charge (BIC) class PLUS an additional 6 hours of required subject matter in at least two core courses (BRA, PSC, FHR or HOT) prior to your license renewal. GTAR’s first offering of the Broker in Charge course is scheduled for Wednesday and Thursday, July 28 and 29, 8:30 a.m. to 5:00 p.m. in GTAR’s North Conference Room. Cost is $90. Class size is limited to 15; class is almost full. For more information and to register, log on to; from the Main Menu click the red Education bar, then click Register for Classes. Click Here for Course Details

Build Your Business Fast!
CRS 106: Fundamentals of Real Estate Technology
Thursday, September 9, 8:30 a.m. – 5:00 p.m. in the GTAR Training Center with nationally recognized instructor, Michael Selvaggio. This course will help you identify which of today’s technologies will help you get the most out of your real estate business and get an edge of your competition. Cost on or before August 16 is $99; after that date cost will be $129. The CRS 106 course earns you one unit of core education credit toward the CRS designation and is OREC approved for 8 hours elective CE credit. 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, August 19
Grievance & Professional Standards Committee
Are you a REALTOR® member interested in serving on GTAR’s Grievance or Professional Standards Committee? If you answered yes, these classes are for you! Both classes are OREC approved for 3 hours required PSC CE credit each. For course details and to register online, log on to; click the red Education bar on the main Member Services page, then click Register for Classes. Click Here for Course Details

Friday, August 20
25 Ways to Avoid a Lawsuit
This new course will highlight 25 areas that real estate offices should consider when attempting to establish policies to avoid unnecessary and costly litigation. 8:30 – 11:30 a.m. in the GTAR Training Center with nationally recognized instructor and Attorney, Thomas Jacobson. Currently pending OREC approval for 3 hours CE credit. For course details and to register online, log on to; click the red Education bar on the main Member Services page, then click Register for Classes. Click Here for Course Details

August 23 and 24
REO Specialist Certification
Encore Presentation: In this two-day course you will learn how to become an REO listing agent, how to manage REO properties, how to work with the buyer purchasing an REO property, how to finance your REO property, and much more. 9:00 a.m. – 4:00 p.m. in the GTAR Training Center with Marlene Burkhart. Cost is $179. OREC approved for 12 hours required HOT CE credit. Click on the following link for detailed course information and registration:  REO Specialist Certification

Broken Arrow Ranked 81 on Top 100 Places to Live in 2010
Click Here to Read

New RESPA Interpretive Rule
Under section 8 of RESPA and HUD’s implementing RESPA regulations, services performed by real estate brokers and agents as additional settlement services in a real estate transaction are compensable if the services are actual, necessary, and distinct from the primary services provided by the real estate broker or agent, the services are not nominal, and the payment is not a duplicative charge. A referral is not a compensable service for which a broker or agent may receive compensation. To read this Interpretive rule in its entirety, and provide comments, please Click Here

Scam Alert:
NAR Legal Affairs has learned of a new scheme designed to trick unwary real estate professionals into forwarding money to the scheme operators. For more information Click Here

Homebuyer Tax Credit Closing Date Extended(June 30, 2010) Congress has passed an extension of the Homebuyer Tax Credit closing deadline—the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. The legislation is designed to create a seamless extension. The new closing deadline for eligible transactions is September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law.

New Square Footage Form Now Available
The GTAR/NORES Boards of Directors approved a Square Footage Waiver and Release form. The use of this form is recommended to Brokers with residential sales of homes, sales of vacant lots/land, and leasing. The form is available online under Forms and Contracts. Click Here to View Form

Membership 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.

Drew Cartwright, Cartwright Appraisal Company (First Publication)
Kelly Garrison, associated with McGraw, REALTORS® (Second Publication)
Sherry Remy, associated with Signature Real Estate (Second Publication)