Monday, March 5, 2012

GTAR Weekly Facts – March 5, 2012


Coming March 20 – FUSION!
Reminder:  Access for ALL MLS users to the new MLS Fusion system (brokers, agents, assistants, staff) will be available March 20.  Classes begin that day, and every user is encouraged to attend. Classes are free, but pre-registration is required. Some of you may want to take the class more than once, so plan ahead!  Come to one of the first classes, then go home, apply what you’ve learned, and enroll again if needed; we have plenty of classes to select from. Register online at (Education – Register for Classes). There are plenty of days and times to choose from; all classes will be in the GTAR Training Center, unless otherwise indicated.
March 6
Photography for REALTORS®
If a Picture is Worth a Thousand Words, What’s a Bad Picture Worth? According to the 2010 NAR Profile of Home Buyers & Sellers, 98% of home buyers who searched for a home on the Internet found photos to be among the most useful features of REALTOR® websites. In this new course, Dennis McFeely will help you enhance your skills utilizing digital cameras, software editing applications, and Internet hosting platforms to effectively and professionally market your listings. Class is 1:00-4:00 p.m.; OREC approved for 3 hours elective CE credit; course details and registration online at (If you want to use your GTAR Class Pass, please register by emailing or calling 918-663-7500. Don’t have a Class Pass? It’s not too late to buy one—see details below!)
March 8
Understanding the URAR Appraisal Report and New UAD Guidelines
In this new course, the Uniform Residential Appraisal Report (URAR) form will be discussed in detail with emphasis on the new guidelines and how it will affect real estate professionals; the additional guidelines, Uniform Appraisal Dataset (UAD), pertain to how the URAR form is to be completed. Starting in March, Fannie Mae will require all reports submitted to them for purchase to be compliant with the new guidelines. Class is 9:00 a.m.-12:00 p.m. OREC approved for 3 hours required HOT CE credit; course details and registration online at (If you want to use your GTAR Class Pass, please register by emailing or calling 918-663-7500. Don’t have a Class Pass? It’s not too late to buy one—see details below!)
April 4-5
RAD Conference Update
Dick Betts’ two technology classes: Mobile Technology…The Way of the World and Agent’s Digital Footprint…Got One? are OREC approved for 3 hours elective CE credit. Theresa Stewart’s two brokerage management classes will be: The 360° Manager and Managing Into the Future; both are pending OREC approval for CE credit—Click Here to learn more about the RAD Education Conference and Trade Show April 4-5. Cost is only $50 per member; register online at If you want year-long, super-savings on CE classes, check out GTAR’s new Class Pass for only $25 more! (See information below.) And don’t worry…we will still have the same great, free Trade Show you know and love from 11:30 a.m.–1:30 p.m.—complete with valuable information, door prizes, food, and fun—and all for free thanks to GTAR’s Firm Affiliates! (You do not need to register for the Trade show nor participate in the Education Conference to attend!)
GTAR's Class Pass gets you admission to the Education Conference classes and motivational speaker presentation, a $50 value, PLUS any and all regular CE classes GTAR offers in 2012—starting as soon as you buy your class pass—for just $75! For more information and to purchase your GTAR Class Pass, log on to; from the Main Menu, click on the red Education bar, then click Register for Classes, and look for GTAR Class Pass.
January 2012 Home Sales Stats are Now Available
March 14
2012 Greater Tulsa Commercial Market Update and REALTOR® of the Year Luncheon
7:30 a.m.-12:30 p.m., Tulsa Renaissance Hotel. Brokers from area companies will provide an in-depth review of activity in each commercial market segment—office, retail, industrial, land/development, and multi-family—over the last year, as well as a forecast for the coming year to help identify trends and determine growth areas. Executive Director of Downtown Development, Tulsa Metro Chamber, Delise Tomlinson will wrap up the session with a special presentation on all the exciting development happening in downtown Tulsa.
The GTAR Commercial REALTOR® of the Year Luncheon will immediately follow the Commercial Market Update. Enjoy lunch while listening to Tulsa City Councilor, Blake Ewing talk about development of the Blue Dome and Pearl districts in downtown Tulsa, as well as his plans as Tulsa City Councilor. Then, find out who will be named the GTAR Commercial REALTOR® of the Year for 2011. Cost is $75 for GTAR members, $95 for non-members; OREC approved for 3 hours required HOT CE credit. The Commercial Market Update is open to ALL members—residential and commercial.  Event Details and Registration Form
Rally Critical for Commercial Too
In this month’s Commercial Podcast, NAR Treasurer Bill Armstrong says, “I'm happy to share some good news about the commercial real estate sector from our just-released quarterly outlook. Good news is something we can use a lot more of. Also hear why the upcoming REALTOR® Rally in DC on May 17 is an important event for commercial practitioners—and all REALTORS®—to take part in. The Rally isn’t just about housing; we’re also there to remind Congress about how vital commercial real estate is to the economy. I hope to see everyone there.“ Listen now to NAR Treasurer Bill Armstong's Commercial Podcast
Commercial Real Estate Vacancy Rates Improving, Rents Firming
According to the NAR quarterly commercial real estate forecast, all of the major commercial real estate sectors are seeing improved fundamentals, but multi-family housing is becoming a landlord’s market commanding bigger rent increases. These trends also are confirmed in NAR’s recent quarterly Commercial Real Estate Market Survey.  Click Here to read complete report; Click Here for Stats.
The Storeless Pop-Up Store
We tend to take for granted that the leasing of space is the one constant in our business –  traditional commercial real estate models have opened up to flexible, temporary arrangements such as pop-up stores, but this is still a development concerning the leasing of physical space.  Can technology possibly remove even that baseline retail requirement? Check out a recent post at The Source Blog to learn more. Link:
Research: State Leasing Data
NAR's Research team looks at state leasing data in the latest Commercial Market Survey, comparing 2011 activity for Q3 and Q4. Link:
Legislative Update from OAR
It was a great week at the State Capitol for the real estate industry, with all three OAR-sponsored bills being heard in Committee. Watch InSession now to find out what happened!
Obama: More Tax Relief on Forgiven Debt
President Barack Obama in his fiscal year 2013 budget request recommends extension of NAR-supported mortgage cancellation tax relief. That relief permits taxpayers to exclude from taxable income some or all of the mortgage debt forgiven by a lender in a foreclosure, short sale, or loan modification. That relief is scheduled to expire at the end of this year. The President has proposed extending it for an additional two years. Access explanatory video.
Budget Request: Premium Increases for FHA
The proposed fiscal year 2013 budget for HUD indicates upcoming premium increases for FHA mortgage insurance. The temporary payroll tax holiday Congress extended late last year requires FHA to implement a 10 basis point increase in its annual premiums for all new FHA loans. According to the budget request, FHA will increase premiums on "jumbo" loans (those over $625,500) by 25 basis points, for a total of 35 basis points on those loans. FHA says it might implement additional premium increases to shore up its finances. The budget also says FHA is reducing seller concessions from 6 percent to 3 percent, or $6,000, whichever is higher. A proposed rule is expected on this later in the month. The budget also says that for the current budget year, based on re-estimates of FHA revenue, the agency could require a subsidy from the federal government of $688 million. Although they now will not request that money (because they received more than $1 billion from the settlement with the banks over robo-signing), Congress will likely re-evaluate FHA because of the shortfall. More
NAR Adopts Broad Valuation Policy
NAR has released a Responsible Valuation Policy that takes an approach to property valuations that goes beyond appraisals. The document, which looks at broker price opinions and automated valuation models as well as appraisals, is intended to give the association an updated framework for addressing valuation issues.
Freddie Reiterates Policy on Deficiency Judgments
The secondary mortgage market company Freddie Mac has updated its bulletin to servicers to make clear lenders aren’t to pursue a deficiency judgment against a borrower after a short sale or deed-in-lieu of foreclosure if the transaction was processed in accordance with Freddie Mac’s guidelines. Summary
FCC Adopts Telemarketing Rules
The Federal Communications Commission has adopted new restrictions on autodialed and prerecorded telemarketing calls, commonly referred to as "robo-calls" to harmonize the FCC's Telephone Consumer Protection Act rules with the Federal Trade Commission's Telemarketing Sales Rule.
Mortgage Bills May Soon Be Simpler to Grasp
The Consumer Financial Protection Bureau has proposed, and is seeking comment on, a standardized mortgage statement that sets out to make monthly mortgage bills easier to understand. You can view the proposed form at The agency currently is soliciting public and industry comment. The form is to be formally proposed this summer. 
FTC Rule Could Impact Brokerage Recruiting
A rule by the Federal Trade Commission that requires disclosure by companies that offer individuals a business opportunity for a fee could impact real estate brokerages’ recruiting practices. The rule targets companies like vending machine operators but brokerages that offer recruits assistance such as a list of leads could come under the rule. Access an analysis by NAR Legal Affairs. Access a summary on Speaking of Real Estate.
Legal Primer: Laws You Need to Know
(NAR) Every real estate transaction is governed by a web of federal laws and rules. Explore our interactive infographic to get guidance on 23 key laws for residential sales. Click Here
Nominations Sought for Good Neighbor Awards
Every year, NAR recognizes members who devote themselves to volunteer service through REALTOR® Magazine's Good Neighbor Awards, which is currently accepting applications. Read more
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.
Jill Merrell, associated with Reynolds Realty (Second Publication)
Firm Affiliate:
Celebrity Homes, Inc., Designated Individual, Allen Jenkins (Second Publication)