NOTICES:
May 2013 Home Sales Stats Now Available
Backpacks for Kids – We’re Almost to Our Goal
Thanks to you, we’re less
than $1,500 away from our goal of $10,000 for 200 backpacks! 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! You can now donate online
by credit card by simply going to www.BPJustForMe.com: Click Donations on the menu
then click Donate; or just Click Here.
OAR Open Door Award Nomination Deadline is July 5
This
annual award honors three Oklahoma REALTORS® who go above and beyond
to fulfill the needs shown by their community. OAR’s Open Door Award is
designed to seek out the brightest and best who give unselfishly to improving
the world around them through community service. You can download the form directly here. Questions? Contact Lora Gwartney,
(405) 848-9944 or lora@oklahomarealtors.com.
EDUCATION &
EVENTS:
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
tulsarealtors.com; from the main Member
Services page, click Associate Services, then click Register for Classes. If you are a Class Pass Holder, please
register for Class Pass eligible classes by emailing education@tulsarealtors.com or calling
918-663-7500.
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) Click Here for
Course Details
July 11: Professional
Standards Seminar: Enforcing the Code and Its Standards
Are you a REALTOR®
member Interested in serving on GTAR’s Grievance or Professional Standards
Committee? Or, would you just like to find out what happens during an
arbitration or ethics hearing without being a participant? If you
answered yes to either question, then this class is for you! Through lecture,
discussion, and case studies, Bruce Aydt, attorney and REALTOR®,
will teach the concepts of professional conduct related to the REALTOR®
Code of Ethics and its enforcement processes. OREC approved for 6 hours required PSC CE credit (OREC will count
3 as PSC and the other 3 as elective); this course also satisfies NAR’s Code of
Ethics training requirement. Cost is $25 for members. Click Here
for Course Details
July 16: HUD Procedures and Bidding Process
1:00-4:00 p.m.: In this updated course taught by Jennifer
Minard (Mary Berry’s protégé) you will learn HUD procedures, how to submit HUD
bids, and the latest changes, including the
HUD implemented “Buyer Select” closing agent pilot program which became effective
this year (April 15). OREC Approved: 3 hours required HOT CE credit (Class
Pass Eligible) Click
Here for Course Details
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 www.OKRLI.com (This is
not a GTAR event.)
GOVERNMENT/LEGAL
ISSUES:
Bill Would Slow Loss of Some Flood Insurance
Subsidies
The phase-out of federal
flood insurance subsidies for homes with "grandfathered" premium
rates will be delayed for a year under an amendment that's been attached to a
bill making homeland security appropriations. The phase-out of subsidies, part
of flood insurance reform enacted last year, has caused concern among some
property owners and lawmakers. Phase-out of premium subsidies for some other
types of properties would continue as
scheduled, although NAR is working with lawmakers about securing a longer
delay for grandfathered properties and extending it to other types of
properties.
Obama Signs Orders to Curb Patent Trolls
President Barack Obama last
week issued
executive orders to help curb patent lawsuit abuses by so-called patent
trolls whose business model is based on leveraging broad-based patents to
extract fees from product users. The executive orders come as Congress is
writing legislation to combat abuses. NAR supports the efforts and is working
with lawmakers to help ensure legislation is strong enough to curb abuses.
Bill Would Standardize Energy Efficiency
Valuation
NAR-backed
legislation to standardize the valuation of energy efficiency in the appraisal
and mortgage underwriting processes has been introduced in the Senate. The
"Sensible Accounting to Value Energy (S.A.V.E.) Act," S. 1106, would
try to encourage the use of energy efficient materials in new and existing
homes without negatively affecting older homes.
Changes Add Flexibility to QM
'Ability-to-Pay' Rule
NAR is generally supportive
of the latest changes to the Qualified Mortgage (QM) "ability to pay"
rule by the Consumer Financial Protection Bureau. CFPB's changes would help
give lenders more flexibility in originating QM safe harbor loans and add a
reasonable criterion for loan applicants, but NAR in a letter to
the agency says it wants to see some clarifying language on a number of
matters still. CFPB has said it plans to keep looking at its QM rule before it
takes effect next year to be sure it protects consumers and taxpayers without
reducing loan availability to responsible applicants.
INFORMATION TO
USE:
Free Prescription Drug Discount Card
Available
A free
prescription drug discount card is available to members from Drug Card
America, a REALTOR Benefits® Program partner. The card can lower the
cost of some prescription drugs at more than 60,000 pharmacies, including CVS,
Walmart, Walgreens, and Target, among others.
Free Consumer Content: Staying Cool for
Less Cost
The latest free content for
your websites, blogs, social media pages, and print resources from HouseLogic's
REALTOR® Content Resource looks at free ideas for staying cool
for less money this summer.
REALTOR® Code Adapts to
Changing Technologies
As you adapt to changing
technologies, so does the Code of Ethics. Learn more
about the Code in this, its centennial year.
MEMBERSHIP
APPLICATION:
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.
Firm Affiliate:
PrimeLending, Designated Individual, Michael Gresh (Second Publication)
MLS Waiver:
Richard S. Sudduth, First Commercial Real Estate (Second Publication)
