Monday, June 3, 2013

GTAR Weekly Facts – June 3, 2013


GTAR/NORES Members: Let’s Help Our REALTOR® Family in Moore

The GTAR and NORES Boards of Directors voted to contribute $5,000 to the GTAR Foundation for OAR’s Oklahoma Housing Foundation REALTOR® Disaster Relief Fund; monies from the fund will be distributed to REALTORS® in Moore and other impacted areas who lost their homes in last week’s tornado. Confirmed so far: 16 REALTOR® homes were completely demolished, at least 20 homes were majorly damaged (unlivable, but still standing in parts), and at least 12 REALTOR® family members have lost homes. The REALTOR® Disaster Relief Fund is administered by the Oklahoma Housing Foundation, which is a non-profit charitable fund administered by fifteen Trustees to provide financial assistance to REALTORS® whose personal residences or property has been destroyed or damaged by natural disasters.

You can help too! Through June 17, the Board of Directors will match donations made by members up to an additional $5,000. You can write a check, payable to the GTAR Foundation (please indicate Tornado Relief in the memo field), and either bring it by our office or mail it to P.O. Box 470603, Tulsa, OK 74147. Or, donate online by credit card: Go to, and click on DONATE button on lower right side of home page. (All donations are tax deductible.)

You Can Now Donate Online by Credit Card!

Making donations to Backpacks for Kids just got easier! Simply go to Click Donations on the menu then click Donate, or just Click Here. This year’s goal is to raise $10,000 to fund 200 backpacks (each backpack costs approximately $50 to fill); to date, $6,606.03 has been raised. The deadline to reach the goal is June 30. 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! Click Here for Donation Form
Upcoming CE Classes at GTAR
Don’t wait until the end of your three-year licensing period to start working on your CE hours. As CE classes are scheduled, information and registration will be available on; from the main Member Services page, simply click the red Education bar. If you are a Class Pass Holder, please register for Class Pass eligible classes by emailing or calling 918-663-7500.
June 6: Understanding the URAR Appraisal Report
9:00 a.m.-12:00 p.m.: In this encore presentation, Bob Bryant will discuss the URAR form in detail with emphasis on the new guidelines established March 2012. Fannie Mae requires all reports submitted to them for purchase to be compliant with these guidelines. The additional guidelines, Uniform Appraisal Dataset (UAD), pertain to how the URAR form is to be completed. OREC approved: 3 hours required HOT CE credit. (Class Pass Eligible)
June 10: A Residential Transaction: ‘For Sale’ to ‘SOLD’
1:00-4:00 p.m.: This new course will explore the processes involved for taking a listing from “For Sale” to “Sold.” Ann Lloyd will review the complete “selling” process, evaluate pricing considerations, analyze marketing strategies, discuss negotiating techniques, and examine the transaction participants’ roles in the closing process. By the end of the class, you will have expanded your knowledge of all aspects of a real estate sales transaction, and have a more thorough understanding of how your role as a real estate professional is monumental in delivering a smooth and successful transaction; OREC Approved: 3 hours elective CE credit. (Class Pass Eligible)
June 13: REALTOR® Ethics, 1:00-4:00 p.m., Kathryn Jones; req. PSC CE; no cost (registration required)
June 26: What RE Professionals Need to Know About Taxes
1:00-4:00 p.m.: This new course is not designed to make a real estate agent a tax accountant, but it is designed to make a real estate agent aware of the rules and documentation requirements that are part of their everyday business and life as a real estate agent.  Bill Zumwalt, CPA, will show agents how they must be in compliance with the IRS and the Oklahoma Tax Commission or they could lose their license; how to treat hiring an assistant—are they an independent contractor or an employee?; review what constitutes an office in the home, and how to properly document this deduction; explain options available with regard to vehicle expenses, and what is needed to document business usage; meals and entertainment documentation and rules; determine the best type of entity for their real estate business; keys to reduce their tax liability, and much more! OREC Approved: 3 hours elective CE credit. (Class Pass Eligible)
June 8
Homeownership Event
Housing Partners of Tulsa, Inc. presents “I’m Coming Home”; 9:00 a.m.-1:00 p.m. at the Tulsa Area Housing Authority office (415 E. Independence).  A step by step roadmap by industry professionals on purchasing your first home. For more information on the event, call 918-551-5200. Housing Partners also has booth space available and is looking for donations. They are asking those who want booths to contact Heather Martin Quintoro at 918-581-5907, and bring either a food donation or a door prize in lieu of a booth fee. (This is not a GTAR event.)
June 15
Credit Clarity Saturday
Do you have a client that needs their credit checked? What does your credit report say about you? Come find out, June 15, 9:30 a.m.-12:30 p.m., Hicks Community Center (3443 S. Mingo). Presented by The Alliance for Economic Inclusion for Northeastern Oklahoma, this community event is open to everyone. Free one-on-one counseling, free credit reports can be pulled on site through or you can bring your own credit report that is less than 60 days old. Many exhibitors will be available to help you meet your financial and/or home buying goals. (This is not a GTAR event.)
June 18-19
CRS 201: Listing Strategies
Presented by OK CRS with instructor Jackie Leavenworth, 8:30 a.m.-5:00 p.m. at the Holiday Inn Quail Springs-North Oklahoma City. Learn how to use your MLS to create pricing visuals that will prepare the sellers to position their homes to sell quickly, and much more. Please call Cindy Manchester with any questions or email  Click Here for Info and Registration Form  (This is not a GTAR event.)
June 24-25
Land 101: Fundamentals of Land Brokerage
Presented by the Oklahoma Chapter of REALTORS® Land Institute: 8:00 a.m.-5:00 p.m. in the GTAR Training Center. This is a required course to earn credit for the prestigious and highly coveted Accredited Land Consultants (ALC®) designation; instructor is Kirk Goble. Cost is $295 through June 9 and $349 after that date. Click Here for Course Details. Register online at  (This is not a GTAR event.)
Upcoming Computer Classes
Pre-registration is required; space is limited to 14 per class. For more information and to enroll: log on to, click the red Education bar on the Member Services page, then click Register for Classes. All classes are held in the GTAR Computer Lab, unless otherwise indicated.
Fusion 2 (Hands-on): Tuesday, June 4, 2:00-4:30 p.m.
Fusion 3 (Hands-on): Thursday, June 6, 2:00-4:00 p.m.
Need Help? Check Out Our Knowledgebase!
The GTAR Helpdesk Knowledgebase is available 24 hours a day, 7 days a week - featuring in-depth tutorials, answers to frequently asked questions, and more! Bookmark or add as your favorite: today!
June 12
Cloud CMA Demos at GTAR
Join us at GTAR for this special event and see why tens of thousands are using Cloud CMA to deliver high impact, eye catching reports with data right from your MLS! Cloud CMA is a proud product partner of GTAR, and is among the most exciting technology products for real estate in 2013. Cloud CMA uses your MLS data and blends it with community and lifestyle information from multiple data sources on the Internet to create custom MLS reports for buyers, sellers, and prospects. These live demos are FREE to GTAR members, and will cover the many aspects of creating a winning CMA, as well as awesome Buyer Tour Reports, Property Reports and flyers in seconds. Click Here to Register

April 2013 Home Sales Stats Now Available

QM Cap to Hurt Smaller Lenders
The 3-percent cap on points and fees in the qualified mortgage (QM) "ability-to-repay" rule finalized earlier this year discriminates against small and mid-sized lenders, community banks, credit unions, and lenders affiliated with real estate brokerages, NAR says in a statement to a House Financial Services subcommittee last week. If left unchanged, the rule is expected to make a third to half of all mortgage loans more expensive than they otherwise would be because they couldn’t be defined as "qualified" under the QM rule. NAR calls on Congress to pass "The Consumer Mortgage Choice Act" (H.R. 1077 and S. 949), which would correct the problem. The QM rule takes effect early next year.
Student Debt Needs Closer Look    
The increase in student debt along with tightening mortgage standards under proposed qualified residential mortgage (QRM) rules will leave many households with restricted access to home ownership NAR 2012 president Moe Veissi testified earlier this month at a Consumer Financial Protection Bureau field hearing. NAR is gathering data and conducting research on student debt to help it assess the issue. 
Free Consumer Content: How to Be a Wise Buyer
The latest free content for your websites, blogs, social media pages, and print resources from HouseLogic's REALTOR® Content Resource looks at how to make a wise home purchase.

Commercial Seeing Modest Improvement
Commercial real estate market fundamentals have improved, with vacancy rates and rents seeing modest gain, but financing remains a challenge for small business, NAR says in its latest quarterly commercial real estate forecast. "The wheels appear to be greased for the big players, but not so much for small business," NAR Chief Economist Lawrence Yun says. "Overall, the commercial sectors are firming nicely, with multifamily continuing to show the best performance." News release
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.
Glenda Elder, Elder Real Estate (First Publication)
James “Nick” Fuller, The Fuller Agency, Inc. (First Publication)
Dorothy Jean Goad, Jean Goad Real Estate, LLC (First Publication)
James Huskey, Preferred Homes Realty (First Publication)
Jack N. Lauderdale, Jack Lauderdale Company (First Publication)
Lake Moore, IV, Lake Moore Real Estate, Inc. (First Publication)
Steve O. Moschak, Muskogee Real Estate (First Publication)
Arma “Toni” Redo, Red Oak Realty (First Publication)
John H. Reynolds, Jr., Fite & Reynolds Real Estate, Inc. (First Publication)
Jerry Sisco, Jerry Sisco Appraisals, (First Publication)
Judith A. Smith, Town & Country Realty (First Publication)
Sarah B. Williams, associated with Henry Hinds Realty (First Publication)
Firm Affiliate:
The Real Estate Book of Greater Tulsa, Designated Individual, Donna Murphy (Second Publication)