Tuesday, May 29, 2012

GTAR Weekly Facts – May 28, 2012

June 7
Save the Date!
Annual Parade of Homes Kick Off Party for REALTORS® and Builders only, is Thursday, June 7 at 5:00 p.m. at the Home Builders Association of Greater Tulsa. More details to follow. To RSVP, please call 918-663-5820 or email

June 28

Experience Art in Tulsa!
Discover one of Tulsa’s hidden gems at The Gilcrease Museum. Guided tours will begin at 3:00 p.m. A special dinner buffet along with a cash bar will start at 4:00 p.m. Cost is $15 per person, and includes admission to the museum, dinner, and 10 free guest passes to the Museum
a $100 value! Not only will you enjoy an afternoon of art and delicious food, but you will receive guest passes to give to clients and prospects as a thank you. (You must attend the event to receive the free guest passes; only GTAR members are eligible to receive the passes.) Register online at tulsarealtors.com; from the Main Menu, click on Member Resources tab, then GTAR Events. Deadline to register is June 22! If you have any questions, please call Jennifer Smith at 918-663-7500 or email jsmith@tulsarealtors.com.

Backpacks for Kids
GTAR’s seventh annual Backpacks for Kids campaign is in full swing, and your help is needed. In the last six years, GTAR’s Community Relations Committee, with your support, has raised $74,184, and given more than 1,500 backpacks to children in need. This year is a challenging one. We are very aware of the challenges in our community right now and the financial demands that face everyone. This year’s goal is to raise $17,500 to fund 350 backpacks; each backpack costs approximately $50 to fill. The deadline to reach the goal is June 30. To date, $6,942.76 has been raised. We are grateful to you in advance for any donation you make to this effort—no donation is too small, and all donations are tax deductible! For more information and a donation form, visit


OAR REALTOR® of the Year Nominations Now Being Accepted
The OAR member selected for this incredible honor will be announced and recognized by his/her peers at the REALTOR® Celebration Thursday, October 18, 2012, at the Renaissance Tulsa Hotel & Convention Center in Tulsa. GTAR has the opportunity to nominate a REALTOR® member deserving of such a special honor; please contact Janie Bays at 918-663-7500 or jbays@tulsarealtor.com for nomination form and information.


June 19-20
Next Broker in Charge Course
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. Whether you are a one-person office or a gazillion-person office, residential or commercialthis new requirement applies to you! 8:30 a.m.-5:00 p.m.; cost is $90; class size is limited to 15. For more information and to register, go to tulsarealtors.com. The next Broker in Charge Course won’t be until August 21-22.
June 21
Lori Morgan will be teaching Don’t Be Listless: The Listing Presentation, 9:00 a.m.-12:00 p.m. and Working with Buyers: A Planned Approach, 1:00-4:00 p.m. Each class is OREC approved for 3 hours elective CE. For more information and to register, go to tulsarealtors.com. Class Pass Holders: Register by emailing education@tulsarealtors.com or calling 918-663-7500.
RLI: Essentials of Negotiation
Attend a "no-travel," on-demand, instructor-interactive course in July called the Essentials of Negotiations that's being offered in partnership with the University of Houston Downtown. This REALTORS® Land Institute (RLI) course covers concepts and theories of the psychology of bargaining and negotiation with the aim of constructively completing a deal. Call 800-441-5263 for more.     
April 2012 Home Sales Stats are Now Available
Fusion Update
A full set of financial reports are now available in Fusion. Just click on Home, Financials, and the report you need. The financial reports from Fusion are just like your reports from Tempo.
The Fusion MLS cut over will be delayed until further notice. 
The Fusion add/edit module, which allows the entry of listings into the MLS system, was not completed as needed and we were not comfortable with releasing it to our users. CoreLogic, our Fusion vendor, will continue working to develop the add/edit module which we expect to be complete in the near future. Once the module is complete and has been fully tested, the MLS cutover to Fusion will be rescheduled, and all users will be notified accordingly.  This is a great opportunity to take advantage of a little extra time to learn the new Fusion MLS system—and to attend more classes, if needed. Register online at tulsarealtors.com.
Commercial Transactions, Income Up in 2011
NAR’s commercial members saw an increase in transactions and median gross annual income last year, NAR’s 2011 Commercial Member Profile shows. Among the findings: Median sales transaction volume was $2,010,500 among members who reported at least one closed transaction last year. The median dollar value of sales transactions was $414,300, and the median square footage was 9,600. More.
Commercial Real Estate Follows Economy Into Recovery
NAR Chief Economist Lawrence Yun sounded a cautiously optimistic note yesterday regarding the state of the commercial real estate market at the Midyear Legislative Meetings in Washington, D.C. Read More
NAR Coalition Urges Flood Insurance Extension
NAR has formed a coalition with consumer, financial services, builder, and environmental groups to urge reauthorization of the National Flood Insurance Program, which expires at the end of this month. Access testimony by President Moe Veissi, download an opinion piece, download an advertisement, and download the coalition letter.
Make VA ARM Program Permanent, NAR Says
The authority for ARM loans backed by the U.S. Department of Veterans Affairs expires on September 30. The House VA Committee passed legislation, HR 4482, by Rep Jeff Miller (R-Fla.), to make these loans permanent. The bill now moves to the House floor. NAR joined with the Mortgage Bankers Association and the National Association of Home Builders in a letter to Congress urging making the loans permanent. For more contact Megan Booth, 202/383-1222.
Growth Threatens Rural Areas' RHS Eligibility
Many communities are losing eligibility for rural housing programs because their populations have grown, NAR says in a letter to Congress it sent jointly with the Mortgage Bankers Association and the National Association of Home Builders. Congress set the definition of "rural" in 1974, and it has not been updated. The letter urges Congress to grandfather existing communities, and to also update the existing definition to account for population growth. A Senate Agriculture Appropriations bill includes a one year grandfather provision. Members of Congress are also considering including a longer grandfather clause or a definition change as part of the bill. For more contact Jerome Nagy, 202/383-1233.
Rules Would Govern Origination Compensation
The Consumer Financial Protection Bureau (CFPB) has released an outline of proposals for rules governing compensation for mortgage loan originators. The proposed rule will address compensation origination fees, discount points, and the screening and qualifications of mortgage loan originators. A group of small business experts will review the proposals under consideration and other alternatives before the CFPB publishes a proposed rule. The CFPB expects to publish its proposed rule this summer. For more contact Ken Trepeta, 202/383-1294.  
Update: OK Broker Relationships Act
Reforms to the Oklahoma’s Broker Relationships Act (HB2524) were signed by Oklahoma Governor Mary Fallin, and take effect November 1, 2013. With this law being at the root of how real estate is transacted, there is considerable education and forms that need to be updated. To allow for the transition, the new law will take effect November 1, 2013. Agents whose license expires before November 1, 2013, and need continuing education in the Broker Relationships (BRA) Core category will take the current curriculum. As more information becomes available we will let you know.
Free Consumer Content: Outdoor Kitchens
The latest free content for your websites, blogs, social media pages, and print resources from HouseLogic’s REALTOR® Content Resource looks at buying specialty items for outdoor kitchens.
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.
Tammy Edwards, Showhomes Tulsa (Second Publication)
Gunta Sandmeyer, associated with Chinowth & Cohen (Second Publication)