REAL ESTATE NEWS AND VIEWS
April 2024 #64
60 years ago the Civil Rights Act of 1964 was signed into law. This paved the way for the Voting Rights Act of 1965 and the Fair Housing Act of 1968. April is Fair Housing Month and with it, we remind ourselves each year of the continual struggle to be fair when it comes to housing. So much work, blood and sacrifice went into what we have today and even though today’s landscape looks completely different than it used to, we still aren’t 100% fair to all when it comes to housing. If you haven’t taken Fairhaven, the NAR Fair Housing simulator, I encourage you to take some time to do so. I took it and it doesn’t take long to go through but it is helpful to see things in a different perspective. Go to https://fairhaven.realtor/ to take the course.
Also, check out this three part video series on Implicit Bias
Part 1: What is implicit bias? Learn how our unconscious brains use assumptions as shortcuts that can affect our thinking and behavior.
https://www.nar.realtor/videos/bias-override-video-series-part-1-what-is-implicit-bias
Part 2: Learn how implicit bias can result in fair housing and code of ethics violations that may undermine the experience of purchasing a home.
Part 3: Learn concrete and easy steps to interrupt implicit biases and stereotypical thinking that get in the way of fairness and equal professional service.
REALTOR Settlement News
FAQs for the NAR settlement are at facts.realtor
A central resource for updates and materials about NAR’s steadfast commitment to strengthen the association, defend REALTORS® and their immense value, and look to the future.
Tennessee is proud to have FOUR out of 50 young professionals in the running for REALTOR Magazine's 30 Under 30 class of 2024!
Congratulations to Devin Cowell out of Pigeon Forge, Whitney Harvey out of Chattanooga, Taylor Lin out of Clarksville, and Amy Schols out of Nashville, for being selected as candidates! To earn this special recognition, these candidates need YOUR HELP!
Voting for the web choice award begins on April 3 at noon CT. You can vote once every 24 hours until the voting period closes on April 10th at noon CT. The finalists with the most votes secure spots in the 30 Under 30 and earn special recognition in an online article. The other 29 honorees will be selected by judges from the pool of finalists.
In the meantime, we encourage you to read more about the finalists in their online profiles by clicking the link below.
https://www.nar.realtor/magazine/30-under-30/trailblazing-30-under-30-finalists-lead-change-in-real-estate
TNREALTORS President's Challenge
In 2024, Tennessee REALTORS® President, Regina Hubbard, is challenging all members to take her President’s Challenge. She is encouraging everyone to elevate their career and business with 4 simple steps:
1- Obtain your C2EX Endorsement
2- Visit NAR’s Fairhaven
3- Invest in RPAC
4- Give to TREEF
These four steps are a great way to invest in yourself, invest in your industry through RPAC, and invest in our future through TREEF. Regina’s goal is to see 100% participation.
The Tennessee Real Estate Educational Foundation (TREEF) was established in 1968 under Tennessee REALTORS® President Bob Freeman, and the Foundation was officially chartered as a 501(c)(3) nonprofit, tax-exempt educational foundation in 1973. Its purpose is to invest in the education of current and rising REALTORS®. All gifts are fully tax-deductible and will support the vital work of TREEF in fostering educational opportunities for REALTORS® throughout Tennessee.
Give to TREEF HERE
In November 2020, NAR launched Fairhaven, a new fair housing simulation training for REALTORS® that uses the power of storytelling to help members identify, prevent, and address discriminatory practices in real estate. Inspired by real stories, this innovative online experience has agents work against the clock to sell homes in the fictional town of Fairhaven, while confronting discrimination in the homebuying process. Learners will also walk in the shoes of a homebuyer facing discrimination. The training provides customized feedback that learners can apply to daily business interactions.
Got to Fairhaven HERE
The Commitment to Excellence Program will develop and enhance eleven competencies that indicate a REALTOR®’s commitment to ethics, advocacy, technology, data privacy, and outstanding customer service. This endorsement program is designed to help you master 10 competencies through NAR’s easy-to-use mobile platform, learn at your own pace, and elevate your career on your own time. C2EX is covered in your NAR dues. This self-paced program, on average, takes approximately 10 hours to complete.
Get to C2EX HERE
The purpose of RPAC is clear: voluntary contributions made by REALTORS® are used to help elect candidates who understand and support their interests. These are not members’ dues; this is money given freely by REALTORS® in recognition of the importance of the political process. The REALTORS® Political Action Committee and other political fundraising are the keys to protecting and promoting the real estate industry.
Regina is asking for you to invest what you can to RPAC to help protect private property and homeownership rights in Tennessee.
Invest in RPAC HERE
Huge news for Brokers
TREC AUDITS are back
In March 2024, TREC will resume firm audits. According to T.C.A. § 62-13-312(d), the director of the division of regulatory boards or the director's duly authorized representatives may, at all reasonable hours, examine and copy books, accounts, documents or records that are relevant to a determination of whether a licensee has properly maintained and disbursed funds from escrow or trustee accounts required under this part. In case of refusal to permit the access accorded by this subsection (d), the director or the director's authorized representatives may pursue the remedies provided by § 4-5-311(b) for disobedience to any lawful agency requirement for information. Refusal shall also constitute grounds for the commission to suspend or revoke a license.
TREC audits will focus on (1) The depositor of the funds; (2) The date of deposit; (3) The date of withdrawal; (4) The payee of the funds; and (5) Other pertinent information that the commission may require as stated in T.C.A. § 62-13-321.
Regulatory Board Analyst, Alyssia Zamora, will conduct firm audits. If selected for a firm audit, Ms. Zamora will email and mail notice to the principal broker of the firm.
FinCEN Issues New Proposed Rule for the Real Estate Sector
On February 16, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a Notice of Proposed Rulemaking (NPRM) titled Anti-Money Laundering Regulations for Residential Real Estate Transfers. The rule imposes reporting and record-keeping requirements on certain persons involved in real estate closings and settlements for non-financed residential real estate transactions.
The purpose of the rule is to address money laundering, and illicit financial crimes involving real estate. The rule imposes a cascading reporting requirement, where certain persons involved in real estate transactions are required to file a “Real Estate Report” no later than 30 days after the date of closing. FinCEN expects that the Real Estate Reports would be filed and submitted by settlement agents, title insurance agents, escrow agents, and attorneys. FinCEN has created and issued a fact sheet on the issue that is helpful as well.
NAR will submit a formal comment on the proposed rule and will continue to remain engaged on the topic of anti-money laundering and illicit financing within the real estate sector.
https://www.nar.realtor/the-facts?login=success
NAR President Kevin Sears shares an update on the association’s settlement agreement to resolve home seller litigation and highlights NAR’s ongoing work to advocate for members and consumers. Watch the video here: https://bit.ly/497tS3W.
More links to follow on this subject
Give yourself a pat on the back
Congratulations to the winners of our 2023 RPAC Awards!
At our RPAC Awards and Reception, we honored, announced and recognized our 2023 REALTOR® Party Champion, Jay Lowenthal. Jay is a member of Greater Nashville REALTORS® and was awarded for his work and devotion to supporting RPAC and the REALTOR® Party. Jay exemplifies dedication in both actions and words. Having served as President of his local association and chair of the RPAC committee, he has played a key role in raising $100,000 for RPAC during their tenure. With over two decades of significant investment in RPAC and continuous involvement in the President’s Circle Program, his commitment shines through. Jay has also chaired and vice-chaired the Tennessee REALTORS® Governmental Affairs Committee, showcasing unwavering dedication to REALTOR® Party advocacy in Tennessee! Congratulations to Tennessee’s 2023 REALTOR® Party Champion Jay Lowenthal!
We also recognized our local associations who hosted the best RPAC Fundraising events in 2023, representing the Middle division we awarded Greater Nashville REALTORS® for their spirits-inspired event. This event was held at a local, exclusive venue for thirty lucky major investors. The sold-out event secured thirty major investors for this association a month and a half into the year!
Taking home the trophy for the East Division Best RPAC Event is Great Smoky Mountains Association of REALTORS® for their event inspired by the theme, glamping. This successful RPAC event raised more than $40,000 for RPAC!
Additionally, we celebrated the 14 local associations that obtained both the Presidents Cup and the Triple Crown achievements.
Thank you all for supporting RPAC and the REALTOR Party. We had a fantastic time celebrating your RPAC accomplishments and look forward to another successful year!
-TNREALTORS
Wow, some crazy stuff going on during this conversion. Right now, as I am writing this article, we have just turned on parallel with FLEX and Navica. The questions I am receiving the most so far are about logins and the confusion between the other FLEXMLS platforms.
Each association has their own FLEXMLS. Each one requires an individual login if you belong to that MLS.
For instance, ETNR has their own login, so does LAAR and everyone else on the FLEX platform has their own individual FLEX login. If you belong to every association in East TN, then you would have about 6 different logins.
If you do not have Flex with another MLS then follow the immediate instructions below labeled Single FlexMLS login.
If you have access to FlexMLS through another association already then skip down to the Dual FlexMLS login
Single FlexMLS login
Go to gsm.flexmls.com
Use your Login Name, if you don’t know it, contact the GSMAR office for it.
For the password: click the "forgot password link" and enter your login name again.
It will then send you an email. Follow prompts to set a password.
Go back to gsm.flexmls.com and use the Login Name and the Password you just created.
Note: Keep your password. Flex does not keep passwords and they cannot be reset by us.
Dual FlexMLS login
Follow the instructions above plus the following information
Because Internet Browsers like Google Chrome or Microsoft Edge, Firefox, Safari and more keep a record of passwords and logins for each website, it is necessary for you to use a different browser for each FlexMLS you belong to. This saves the constant logging in and out of each FlexMLS and fighting the browser's autofill feature.
Note: If you choose to not use a different browser, FlexMLS keeps you logged in for up to 12 hours at a time before logging you out. To log out, go into Flex and click your initials/profile picture in the upper right and a menu with "Log Out" at the bottom will pop up. Hit Log out. This will take you back to the login screen where you have the option to login to the FlexMLS of your choice. Also note, if you have autofill for your passwords, you'll need to delete the autofill and add the one you want. If you save multiple logins and passwords on the same browser, a drop down menu appears to give you the choice of which to use.
How To Go Incognito On Google Chrome
Code of Ethics and something new
We are currently in Cycle 7 with NAR’s Code of Ethics. Every three years, NAR requires its members to take the Code of Ethics, either by logging into NAR and taking it online or by attending it in a classroom. GSMAR offers it in class form 4 times per year for our members. At the end of this year, cycle 7 ends and on Jan. 1st cycle 8 begins. If you do not already have Code of Ethics for this cycle, you will need to take it before the end of Dec. 31st. Go to NAR’s Code of Ethics Page, log in and check to see if you need it or have it. If you need it, I encourage you to take it now before it gets too far into this year.
The next class at GSMAR is scheduled for May 13th and will be ready for registrations soon.
NAR has added a new requirement to the Code of Ethics for Cycle 8 (2025-2027) and that is Fair Housing. So, on top of Code of Ethics, NAR is now requiring Fair Housing. It will be offered online through NAR and GSMAR will have it available in the classroom. Also, the FairHaven simulator, (AHWD)At Home with Diversity course and Bias Override Course all count towards this requirement.
Note: Taking those classes this year will not go towards next year's requirements.
New Supporting Partner
DUB Inspections LLC
Daniel Barrita
Check them out in our Supporting Partner Page
Besides the conversion to Flex, we have been hard at work getting things set on the back side for you.
A new Info Hub is in place and ready to use.
What is Info Hub?
Info Hub is the place our members can go to see all sorts of things like:
- Your Current Balance during billing will be on display on the home page at the top and the payment button will be there too.
- Upcoming Events and Classes will be on the home page, click on one to register
- The My Info page gives you the option to change your contact information. This change will populate in Flex and the NAR database and transaction desk.
- The My Billing page will give you your entire history of your invoices and payments. For open invoices it gives you the option to pay. This is a great feature for tax purposes.
- My Directory Listing page is all about the info seen on our Directories, which is located on our new public website. So make sure all the info here is correct so people can see who you are.
- My Subscriptions page is all about email subscriptions
- The Events page is a list of events and classes we have ready for registration. Buttons on the right let you register and add to your info hub calendar.
- The Continuing Education page helps you track the classes you have taken at GSMAR. This will not report to TREC or The CE Broker or NAR. It is just a way to see all the classes you took with us.
- REALTOR® Directory is what it sounds like. Get the contact information for any agent in our MLS. Make sure to update your information on the My Directory Listing page so this page will have all the correct contact information
- Supporting Partners page has all the information for each of our Supporting Partners
- REALTOR® Office page has a list of all the offices in our MLS
- MLS Subscriber only page has a list of people who are only MLS subscribers.
- Resources page has nothing currently, check back often for additions.
To access the Info Hub, got to the home page on Flex and under the MLS Links section on the right, click Info Hub. If you don’t have a login yet, click on the “Create One” link next to the Sign In button.
You can also go to the new GSMAR.org website and click “Member Login” next to our logo. It will take you to the same page as the Flex link.
Speaking of New Website, I’m proud to say we now have a more functional website than before. This website is linked to the Info Hub. So the information you find on Info Hub will also be on the new website.
As this is brand new to me, I am tirelessly trying to hone it and craft it to be a reliable source of useful information for our members and the public. As it is a work in progress, some pages have not been finished yet.
Let’s take a tour
- As discussed already the Member Login will take our members to the Info Hub where they can pay invoices, register for events and update their information.
- Directory-Just like the one in Info Hub, this directory is searchable by the public. Could be useful in getting clients or finding another agent.
- About- Information pertaining to GSMAR, like the current Board of Directors, staff, how to get in touch with us and more
- The Member Benefits Drop down is full of everything that benefits our members. From MLS rules to Education to Events, this section is evolving and growing to include everything we offer for our members.
- The Supporting Partners page is the list of Supporting Partners at GSMAR. It contains their businesses by category, their website link and more.
- Events drop down has the Calendar page and Newsletter page. The calendar page will have every event or class that is ready to be registered for on it. The newsletter page will have the monthly newsletters. We will not be archiving the newsletters like we did on the other website. Newsletters are often published on the first Friday of the month. However, there can be some delays, be patient with me.
- Join Today dropdown is brand new to our website. Here is where you can go to join GSMAR. Not sure which application to fill out, contact joshua@gsmar.org first for clarification. Once the application is filled out. The system will automatically send me a notification. Upon approval of the application, payment can be made from the automated invoicing system. Once paid and approved, I will get you your login for everything. Don’t forget to set up your info hub when you join.
The website will evolve, change and morph into a more useful tool for our members, potential members and the public. If you have suggestions, see errors or things that need fixed, let us know.
New GSMAR Benefit
REALTOR Tech Helpline
See the below flyers for more information and see the link below to read an article about this great benefit.
https://realtybiznews.com/florida-realtors-tech-helpline-expands-with-20000-new-members/98781178/
