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Feburary 2015Volunteer time- limited and preciousBy Pat Breme, RCE, CIPSChief Executive Officer

We understand that your volunteer time is limited and that you may also volunteer in your community, church, or children’s school. FAAR’s former committee structure has been revamped to customize a member’s ability to serve. The four

standing Committees have the most predictable scheduling with monthly meetings and monthly

reporting to the Board of Directors. Their objectives are most often cited in the Strategic Plan. Task Forces meet as necessary for a specific task and then are either dormant or sunset. Networks are

the Association’s free spirits. They organize and operate as the group rules. They meet to discuss their interests. Networks host events and educational opportunities. They report to the BOD only quarterly through representation on the Relationships Committee. The Governance groups have application requirements. Continued on pg. 4

Save the Date

Black & WhiteAwards Gala

April 16, 20156:00pm-

10:00pm.

FAAR Board of Directors adopts a New Strategic Plan

After an intense two-day session and many hours spent on writing and re-vising, the FAAR Board of

Directors has adopted a new strategic plan that lays out the Association's path for the next three years. In-cluded in the plan are goals and strategies for member-ship, education, advocacy, communications, and con-sumer outreach. Continued on pg. 6

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In This IssueVolunteer time- limited and precious__________________________________________________1FAAR Board of Directors adopts a New Strategic Plan_______________________________1President’s Forum_______________________________________________________________________32015 General Assembly Session Kicks Off____________________________________________ 8Fredericksburg REALTORS® Foundation_____________________________________________14What is the deal with drones? Can I use them for my listings or not?_____________ 17Why should I invest in RPAC, what good does it do for my business?______________ 202015 Committee, Task Force, Networks Roster_______________________________________22Working with Buyers? Sellers? RECA offers the designations for BOTH!___________27Protect your passwords________________________________________________________________32

Sherrie S. Shaw

Universal Title

923 Maple Grove Dr, Suite 211

Fredericksburg, VA 22407

(540) 226-0769

sherrie@universaltitle.com

www.universaltitle.com

3

PRESIDENT’SFORUM Brooke Miller, GRI. CRS. CRB

2015 President

Let’s say, each day, when you wake up, $86,400 is deposited into your bank account. It’s deposited today, and will be deposited tomorrow, and the next day and so on. You can use this money for anything you wish. But there’s a catch: you MUST spend it all in one day. You cannot save it. At the end of the day, your account goes back to zero: it’s Use-it-or-Lose-it. Then, like clockwork, the next day your account goes back to a balance of $86,400. And this will continue every day until someday, without any warning, the deposits will stop.

What would you do with the money? Where would you focus your energies? The first few days, you may want to spend it on things you’ve always wanted or things that you need. But after the 14th day, you may be running out of ideas of where to invest the money. Knowing that the deposits will stop at any time, without any warning, you decide to start focusing your spending on the most important, most impactful things. This is where you start to prioritize its use.

You are given something every day that is even more valuable than $86,400. Each day, you are given 86,400 seconds. You can either use them or lose them. You can’t get them back once they are gone. And someday, at

any time, without any warning, you may not get another 86,400 seconds. Where do your priorities lie?

Our Association is strong, yet, we have some major challenges ahead. I cannot say, with certainty, what these challenges will be. But I can guarantee that we will have some. Our industry will have a few within the coming year. Our families will have some. Our nation will have some. One cannot go for a year without a challenge.

Our Association is poised and positioned to take these challenges head on.How is that possible? Quite simply, we have great leaders and members who hold our Association in a position of priority. Though we are pulled in so many directions every single day, the priority of our association is within our vision and our mission.

Our Mission is our Members’ success. Our priority is our members’ success. Our priority is your success.

I encourage each of you to examine your 86,400 seconds and see where our Association can be set among your priorities. There are numerous opportunities for everyone, from attending Bingo in February, to

serving dinners at the homeless shelter. Interviewing candidates for public office to teaching Continuing Education classes. Playing Real Estate Pictionary on a Thursday evening to informal networking events at Firebirds on Tuesday evenings. There is something for everyone in our Association. Please reach out at any time to see what opportunities are here for you. You’ll be glad you did.

When you look back on 2015 and where you spent your 86,400 seconds, you will see that you used them well, you invested your time, and are seeing great benefits from it not only in business but in life.

Sherrie S. Shaw

Universal Title

923 Maple Grove Dr, Suite 211

Fredericksburg, VA 22407

(540) 226-0769

sherrie@universaltitle.com

www.universaltitle.com

4

Volunteer time- limited and preciousContinued from pg. 1

WANTED: CLASS AMBASSADORS

The Real Estate Career Academy is looking for class ambassadors! Your role would be to

greet students, introduce the speaker, monitor attendance, and assist Education Director in

collecting class evaluations. In return for your assistance you receive the class for FREE! To volunteer to be an ambassador please contact

Barbara at bcastillo@FAARmembers.com

For more informationgo to

www.faarmembers.comunder Get Involved

Members are invited to view the Committee, Task Force, and Networks roster by visiting www.faarmembers.com and clicking on "Get Involved". You will also find on this page a link to the "Member Profile", which allows you to sign up for the volunteer opportunity of your choice.

What sparks your interest?

Standing CommitteesEducation and Professional Development (Real Estate Career Academy- RECA) Awards Task ForcePublic Policy (and RPAC)Communication and TechnologyRelationships Events Task Force Community Outreach Task Force

Networks Managing Brokers (MBN) Multicultural Young Professionals (YPN) Property Management Commercial Meetup Women’s CouncilGovernance Professional Standards Budget & Finance Nominating Leadership Development Fredericksburg REALTORS® Foundation

5

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6

FAAR Board of Directors adopts a New Strategic Plan

The Board will be looking at all of FAAR's activities and endeavors and ensuring that they fit the goals of the strategic plan. The objectives of the plan are varied and cover a wide variety of FAAR’s core services. The objectives are detailed below. Members wishing to view the strategic plan in its entirety are invited to visit www.faarmembers.com and click on “About FAAR”, and then select the last drop-down option titled, “Strategic Plan”.

Membership

•Our association provides high-quality products and services to our members

•Promote the value of membership to affiliate members

•Members feel welcome and have a great sense of belonging

•Create collegial atmosphere where broker owners/managing brokers work in cooperation to inform

agents of association activities, programs, advocacy issues

•Members enjoy multiple networking opportunities that build business relationships among fellow members and affiliate members

•Members have useful avenues to receive information and provide feedback about our association

•Create a governance

Continued from pg. 1

In January 2015 leaders from FAAR, Prince William and Dulles Associations gathered to learn how to effectively lead an association from nationally recognized speaker Adorna Carroll.

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structure defining the mission of committees, task forces

Education and Professional Development

•Our members receive relevant and quality education focused on critical skills and knowledge that members will need to be successful as the marketplace evolves

•Our members are aware of and understand the REALTOR® Code of Ethics and Professional Standards system

•Members know how and where to access REALTOR® resources (national, state, and local)

•More of our members achieve FAAR’s Professional Honor Role recognition

Advocacy and RPAC

•Educate and inspire our members to take action on government and legislative issues •Our members want to invest in RPAC

•Support private property rights, housing, and real property ownership through education, advocacy, and campaign services

Community (Consumer) Outreach

•Our association is the “Voice of Real Estate” and our website provides information for consumers regarding market data and “things to know” when selling and buying real estate

•Enhance community involvement to promote the value proposition of using a REALTOR®

•Our members are committed to improving the community’s quality of life

wwww.faarmemebrs.com

For more information go to

www.faarmembers.comunder About FAAR

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2015 General Assembly Session Kicks Off, Don’t Miss REALTOR® Day on the Hill! The 2015 General Assembly session officially began on January 14, 2015. This year features a short session for the legislature followed by a summer of campaigning for upcoming primary and general election battles. REALTORS® have a robust agenda for consideration. FAAR members will join REALTORS® from across the state on February 11, 2015 to advocate for these issues at REALTOR® Day on the Hill.

2015 VAR Legislative Agenda

Virginia Residential Property Disclosure Act; storm water facilities: Increasingly, local governments are entering into maintenance agreements with landowners that may require the landowner to maintain a “storm water facility” on the property. To ensure buyers and buyers agents know what to ask, VAR proposes amending the “buyer-beware” disclosure form to include the existence of storm water maintenance agreements.

Landlord and tenant law; different judges interpret the law differently: There are judges in Virginia who say that because “family trusts” are not specifically spelled out in the VRLTA, property managers cannot appear in court on their behalf. This bill proposes amending the VRLTA to specifically include the term “family trust.”

Helping Consumers Recover Funds They are Owed: Currently, when a licensee is found guilty of a Real Estate Board regulation and the consumer is owed money, the consumer has to petition the general district court for a judgment. If the judgment does not include very specific language, the Real Estate Board cannot award the funds. This bill proposes amending the Code of Virginia to allow judges to award a general judgment, already allowed under the Board of Contractors.

POA/COA: Each year, issues arise in the relationships of REALTORS®, homeowners, and POAs and COAs. This bill aims to provide clarity about what fees and actions

POAs and COAs can take to ensure a mutually beneficial relationship.

Virginia Residential Property Disclosure Act; determining if a property requires flood insurance: Many buyers in Virginia need to be able to identify whether a property will need additional flood insurance because they are located in a FEMA-determined flood zone. Currently, a flood certification is performed by a lender on every property, regardless of where it is in the Commonwealth. VAR believes that this process can also be used to educate potential buyers before contracts are ratified. Flood certifications are performed by third-party providers and cost between $50-$100. This bill will amend the property disclosure statement to add language to the “buyer-beware” list of disclosures that recommends the purchaser obtain a flood certification on the property.

Virginia Water and Waste Authorities delinquent payments: VAR helped

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pass a bill several years ago that prohibited a water authority from attaching a lien or otherwise requiring a landlord or property owner to pay delinquent water bills from their tenants before the services could be turned back on. Unfortunately, the General Assembly missed one Code section. This bill will fix that oversight by amending that specific Code section.

Making Sure Predators Get What They Deserve: There have been several high-profile cases in the past several months where REALTORS® have been lured into vacant houses and assaulted, raped, abducted, or worse. This legislation aims to ensure that authorities have adequate

tools in place to prosecute individuals who knowingly lure or trap REALTORS® into these circumstances with intent to do harm.

Day on the Hill

REALTORS® will descend on Capitol Square on Wednesday, February 11, 2015 to make their voices heard during the legislative process. Register for the conference and Day on the Hill activities at www.varealtor.com. Attendees must register and pay for at least the one-day option if attending the legislative briefing, lunch and guest speaker. If attendees only want to attend Day on the Hill meetings with legislators, registration is not required but please

email kmcclellan@faarmembers.com to receive schedule information for visits.

FAAR will also be providing Visa gift cards for those carpooling down to Richmond for Day on the Hill. To be eligible to receive the $40 gift card to defray the cost of gas and parking, each driver must take at least 3 other individuals and sign up with GAD, Kim McClellan, in advance. Please email kmcclellan@faarmembers.com if you plan on carpooling or if you need to find additional riders.

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540.295.6674 Cellkthagholm@alcovamortgage.com

12

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$30 per person, register today! Register online at www.FAARmembers.com or complete form below and fax to 540-736-0301.

Name: ________________________________________________________ Company: ________________________________________________ Phone: _____________________________________ Email Address: _______________________________________________________________ Payment: Visa Master Card CC#: ___________________________________________________________ 3-Digit CVC #: _________ Exp. Date: ______________ Authorized signature: ______________________________________ Total Amount: $________________ Guest(s): ______________________________________ ______________________________________ NOTE: This event is for 21 and older.

This event counts for 5 pts. under FAAR Networking Activities toward the Professional Honor Role recognition.

Thursday, February 26, 2015 5:00pm to 8:00pm

A. Smith Bowman Distillery One Bowman Drive Fredericksburg, VA

French wine, German beer, and Italian food...what could be more enticing! Join FAAR in support of RPAC for a

night of culinary adventure! Tastings are free, and enjoy one free drink courtesy of our event sponsors!

Payments will be considered a contribution to RPAC of Virginia, the best investment you can make in your business! RPAC helps elect REALTOR®-friendly candidates who will advocate for the real estate industry.

Live music!

Distillery tours! Wine and

Beer Tasting!

Attending this event ensures that you reach the Fair Share Goal investment of $30! Help FAAR reach our

goal and have a great time at this fun-filled event!

Major Donors attend for free and receive extra drink tickets!

Contributions are not tax deductible. Contributions made to RPAC are voluntary and used for political purposes and not required for FAAR Membership.

Special Thanks to our Sponsors!

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Raise a Glass of Champagne to the Foundation!By Mary Beth Rich, President of the Fredericksburg REALTORS® Foundation

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WE GIVEBACKFredericksburg REALTORS®Foundation

2014 AwardsBlack & White Gala

April 16, 2015

As the newly appointed President of the Fredericksburg REALTORS® Foundation, I want to invite you to raise a glass of champagne to this great charity and to the amazing generosity of FAAR members! It's even possible that glass could contain a 1-carat diamond…oh yes, that's right!

The Foundation's signature fundraiser this year is going to be a "diamonds and champagne" event at the annual Awards Gala to be held Thursday, April 16 at the Hospitality House. At this event, Foundation Governors will be selling glasses of champagne. Each glass will contain a gemstone. One of those gemstones will be an actual 1-carat diamond! After drinking the glass of champagne, and taking care not to swallow the stone, each person will take their stone up to a certified jeweler to determine if the stone is the real one or not. One lucky winner will get that diamond and also a gift

certificate to have it set in the design of their choice. Don't drink champagne? No problem! We will have a non-alcoholic version as well to accommodate every pallet.

The point of this fundraiser is to have fun, but also to raise money for the Foundation. The housing needs throughout our area are significant, and nearly every penny we bring in to the Foundation is granted right back out to local charities that help individuals and families secure or retain quality affordable housing. Your donation to the Foundation helps us help the community. So consider buying a glass or two of champagne at the Awards Gala, you may get more than just a glass of bubbly!!

Raise a Glass of Champagne to the Foundation!By Mary Beth Rich, President of the Fredericksburg REALTORS® Foundation

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What is the deal with drones? Can I use them for my listings or not?

It seems like a great marketing tool: a REALTOR® uses a drone to videotape a bird's eye view of a unique property for marketing purposes. Maybe it's an expansive horse property or a home with a large and well-manicured backyard. Seems like a great promotional tool especially since so many potential buyers these days are doing a lot of their research before they even pick up the phone to call an agent. There is just one problem…you could get in major trouble with the law!

Under the current Federal Aviation Administration (FAA) guidelines, it is illegal to operate an Unmanned Aerial Vehicle (UAV), or

drone, for commercial use unless you have special permission from the FAA. The FAA acknowledged that these rules need to be updated to reflect every-changing technology and the evolving marketplace so they formed a working group and named the National Association of REALTORS® as a stakeholder participant. It seemed that there may finally be some rules to govern the use of drones for real estate. Except that the FAA announced in December that it was delaying the new drone rules until 2017. So the wait continues.

There was an interesting development recently when a REALTOR® from Arizona was granted

special permission from the FAA to operate a UAV for commercial use. He plans on using it as a supplement to his marketing strategies especially for the more unique properties that he lists. The REALTOR® committed to getting his pilot's license and to secure a medical credential. In addition, the FAA set forth some fairly stringent rules about how and when he can operate his UAV. While NAR stated that they were "heartened that this represents a positive step by the FAA toward future waiver petitions and small UAV regulation generally," usage of drones for real estate is still a long way off for the average agent.

By Kim McClellan, Public Policy Director

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Join FAAR in recognizing REALTOR® members at the Awards Dinner:

2014 REALTOR® of the Year, Manager of the Year, Rookie Salesperson of the Year, REALTORS® Choice, Professional Honor

Role inductees and the Melanie Thompson Award.

When: April 16, 2015Where: Fredericksburg Hospitality House& Conference Center2801 Plank RoadFredericksburg, VA 22401Time: 6:00p.m-10:00 p.m.

Evening Wear WelcomeDinner & Dancing

Cost: $25 per person if registered by Monday, April 13, 2015, $35.00 after. Non-Members $35.00 before April 13,2015, $45.00 after.Register online at www.FAARmembers.com or complete form below and fax to 540-736-0301.

Name: ________________________________________________________ Company: _______________________________________________

Phone: _____________________________________ Email Address: ______________________________________________________________

Payment: Visa Master Card Am Express CC#: ______________________________________ 3-Digit CVC #: _________

Exp. Date: ______________ Authorized signature: ______________________________________Total Amount: $________________ Guest(s): ___________________________________________________________________ ________________________________________________________________________

___________________________________________________________________ _________________________________________________________________________

This event counts for 5 pts. under FAAR Networking Activities toward the Professional Honor Role recognition. Awards Luncheon—4/16/15

You’re Invited to Join us in the celerbration of the 2014 Awards Winners Black & White Gala

Many thanks to our Sponsors:

Featuring Diamonds and Champagne

Fundraiser benefiting the Fredericksburg

REALTORS® Foundation

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MRIS Matrix Changes are Coming!

A new Matrix update was released in January that includes new features and fixes, some of which are in direct response to your feedback. Highlights include updates to the following:• Printing Reports - No more separate HTML and PDF reports tabs• Auto Email - Resend an initial email to a client without having to redo a search• My Information - Edit all the pieces of your agent information in Matrix in one place• Displays - Customize an existing display to your liking or create your own• Matrix Email+ - New ways for you to communicate with your clients on listings• and more!To learn more about what's changing, visit MRIS.com/MatrixUpdates. One resource we think you'll find especially helpful is the New Features and Fixes for Matrix - a printable PDF illustrating the key Matrix changes.

Join FAAR in recognizing REALTOR® members at the Awards Dinner:

2014 REALTOR® of the Year, Manager of the Year, Rookie Salesperson of the Year, REALTORS® Choice, Professional Honor

Role inductees and the Melanie Thompson Award.

When: April 16, 2015Where: Fredericksburg Hospitality House& Conference Center2801 Plank RoadFredericksburg, VA 22401Time: 6:00p.m-10:00 p.m.

Evening Wear WelcomeDinner & Dancing

Cost: $25 per person if registered by Monday, April 13, 2015, $35.00 after. Non-Members $35.00 before April 13,2015, $45.00 after.Register online at www.FAARmembers.com or complete form below and fax to 540-736-0301.

Name: ________________________________________________________ Company: _______________________________________________

Phone: _____________________________________ Email Address: ______________________________________________________________

Payment: Visa Master Card Am Express CC#: ______________________________________ 3-Digit CVC #: _________

Exp. Date: ______________ Authorized signature: ______________________________________Total Amount: $________________ Guest(s): ___________________________________________________________________ ________________________________________________________________________

___________________________________________________________________ _________________________________________________________________________

This event counts for 5 pts. under FAAR Networking Activities toward the Professional Honor Role recognition. Awards Luncheon—4/16/15

You’re Invited to Join us in the celerbration of the 2014 Awards Winners Black & White Gala

Many thanks to our Sponsors:

Featuring Diamonds and Champagne

Fundraiser benefiting the Fredericksburg

REALTORS® Foundation

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20

Why should I invest in RPAC, what good does it do for my business?By Kim McClellan, Public Policy Director

As a REALTOR®, you probably receive lots of communications urging you to invest in RPAC, the REALTORS® Political Action Committee. While you may understand in general what RPAC does, which is contribute funds to candidates who will support the real estate industry and private property rights, you probably don't know all of the things RPAC accomplishes outside of the traditional legislative process. While our RPAC champions certainly carry legislation every year in the General Assembly that helps the real estate industry, there are also many issues that are dealt with using the relationships fostered through RPAC before they ever become an issue that requires the attention of the General Assembly.

Agent Transfer Process

Some of you may remember the major challenges offices and agents were running into in 2013 when trying

to transfer offices. The Virginia Real Estate Board issued clarifying guidance about when a transferring agent could begin practicing at a new firm. Traditional wisdom was that as long as the signed paperwork was submitted, a licensee remained active and could seamlessly switch to a new company. The clarifying guidance rendered agents inactive, sometimes for multiple weeks, as the transfer request was processed by DPOR. This caused many headaches for agents and prompted VAR to work closely with members of the Real Estate Board to rectify this situation.

Using relationships fostered with the Governor's office through RPAC support, VAR was able to work with the Real Estate Board to implement a process that allowed agents to stay active through the transfer process and continue their practice of real estate. This issue was included in almost every local association's legislative

package, requesting that VAR draft legislation to be considered in the 2014 General Assembly session. However, the power of our relationships, supported by RPAC contributions, allowed this issue to be resolved much more quickly and directly with the Real Estate Board.

Lockbox Access

During the summer of 2014, it came to FAAR's attention that a provision among the many DPOR regulation changes bound for the Governor's desk could create big headaches for REALTORS® throughout our area. The provision stated that lockbox access would be prohibited for any unlicensed individual seeking to gain unsupervised access to a listing. This meant that an agent would always have to meet an appraiser, home inspector, or pest control professional at every home they were working on every single time they

21

needed to gain entry to the property, regardless of whether the agent had prior consent from the seller. This prohibition applied to electronic and combination boxes.

FAAR quickly realized this would have a major impact on our members since agents regularly schedule these services in properties spanning many miles. Unfortunately, VAR was unsuccessful in getting this changed during the public comment period and these regulations were waiting for the Governor's signature. There were many good regulations in that package that VAR did not want to endanger. Once again using the relationships fostered through RPAC, VAR was able to work with the McAuliffe administration and officials at DPOR to pull back these regulations for the sole purpose of removing this one provision.

Flood Insurance

It the fall of 2014, VAR learned that a commission in Virginia was looking at flood insurance and flood risk throughout the Commonwealth. One idea that emerged from this commission was that sellers should disclose if their property has ever flooded or is at risk for flooding so that the potential buyer could make an educated decision about the need for flood insurance for that property.

REALTORS® know the impracticality of that kind of disclosure. A seller may have no knowledge of previous flooding history and sellers may disclose issues that aren't actually floods, like a washing machine overflowing. Even more importantly, every property that carries a mortgage receives a flood certification prior to closing as part of the normal lending process. Adding this additional burden of disclosure to sellers and their agents would not only

have been onerous, but unnecessary.

VAR communicated all of this with the commission and also worked with members of the General Assembly to draft legislation for the 2015 General Assembly session that will add flood risk to the list of "buyer-beware" items in the Virginia Residential Property Disclosure Statement. This will remove liability from agents, while also providing potential buyers concerned about flood insurance a resource for identifying a property's risk.

22

Standing Committees

Education and Professional Development

Chair: Karin Whitley, karin.whitley@baycountysettlements.comVice Chair: Kevin McGrath, FredVA@lnf.comStaff Contact: Barbara Castillo, bcastillo@faarmembers.com

• Awards Task Force

Chair: Lynn Lenahan getwithlynn@gmail.comVice Chair: Latana Lock latana@colodwellbankerelite.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Public Policy/RPAC Committee

Chair: Sha Williams-Hinnant, realtorsha@mris.comVice Chair: Suzy Stone, suzystone22@gmail.com Staff Contact: Kim McClellan, kmcclellan@faarmembers.com

Relationships Committee

Chair: Chip Taylor,

connectwithchip@gmail.com Vice Chair: Mary Beth Rich, marybethrichrealtor@gmail.comStaff Contact: Pat Breme, pbreme@faarmembers.com

• Events Task Force

Chair: Sherrie Shaw, sherrie@universaltitle.comCo-Chair: Mary Beth Rich, marybethrichrealtor@gmail.com Vice Chair and Staff Contact: Lynn DeSena, ldesena@faarmembers.com

• Community Service Task Force

Chair: Bob Mercurio, bnshomes@getsoldva.comVice Chair: Alexis Thomas, alexis.thomas@cardinalfinancial.com Staff Contact: Barbara Castillo, bcastillo@faarmembers.com

Communication and Technology Committee

Chair: Paddy Osborne, paddy@cbcarriagehouse.comVice Chair: Suzanne Brady,

smbrady@mris.comStaff Contact: Lynn DeSena, ldesena@faarmembers.com

Networks

Managing Broker Network

Chair:Arleen Roberts, aroberts@coldwellbankerelite.com Staff Contact: Pat Breme, pbreme@faarmembers.com

Young Professionals Network (YPN)

Chair: Laura Fangman, laura.fangman@gmail.comVice Chair: openContact: Lori Hillard-Wehr, lhillardwehr@faarmembers.com

Multicultural Network

Chair: Duncan Cameron, 1stchoice.duncan@gmail.comVice Chair: Young Cameron, 1stchoice.young@gmail.comStaff Contact: Barbara Castillo, bcastillo@faarmembers.com

2015 Committee, Task Force, Networks Roster

23

Property Management Network

Network Organizer: Ashley Striegler, astriegler@cbelitepm.com Staff Contact: Kim McClellan, kmcclellan@faarmembers.com

Women's Council of REALTORS®

President: Michael Straley, mstraley@fathomrealty.com

Meetup

Chair: Chip Taylor, connectwithchip@gmail.com

Commercial

Currently, in the building stages. Staff Contact Barbara Castillo, bcastillo@faarmembers.com

Governance

GrievanceChair: Alicia Angstadt, alicia@angstadt.comVice Chair: Dave Moberly, davemoberly@aol.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Professional Standards

Chair: Lynn Lenahan, getwithlynn@gmail.comVice Chair: Betty Jasmund, BJasmund@coldwellbankerelite.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Budget & Finance/Investment Chair: Arlene Mason, Arlene@CBCarriagehouse.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Nominating

Chair: Debbie Irwin, debbie@debbieirwinrealtor.comVice Chair: Christine Singhass, housingopps@gmail.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Leadership Development

Chair: Debbie Irwin, debbie@debbieirwinrealtor.comVice Chair: Brooke Miller, brooke.miller@longandfoster.comStaff Contact: Pat Breme, pbreme@faarmembers.com

Fredericksburg REALTORS® Foundation

President: Mary Beth Rich, marybethrichrealtor@gmail.comStaff Contact: Kim McClellan, kmcclellan@faarmembers.com and Lynn DeSena, ldesena@faarmembers.com

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Contact Us Today!

3801b Plank RoadFredericksburg, VA 22407

540-548-8055

338 Amaret StFredericksburg, VA 22401

540-371-7033

10908 Courthouse RoadFredericksburg, VA 22408

540-479-6300

Realtors & Brokers

It's not too late!There's still time to pay 2014 4th quarter

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your retirement plan!Please don't wait. The longer you put it off

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Contact us to schedule your consultationwith one of our experienced tax preparers.

Route 3 Corridor - 540 548-8055Four Mile Fork - 540 479-6300

Fredericksburg City - 540 371-7033

866-871-1040 LibertyTax.com

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Fredericksburg Area Association of Realtors® Real Estate Career Academy

2050 Gordon W. Shelton Blvd., Fredericksburg, Virginia 22401 Phone: 540.373.7711 Fax: 540.736.0301

2015 Education Schedule

March 5,6 ABR Designation Core Class 11 Property Management Seminar 18 Broker Management Seminar 25 March is for Members Education

April 2 Judgments, Liens, and Bankruptcy 14 CE/PL Seminar 16 CE/PL Seminar 21 PL Seminar 23 PL Seminar

May 7 Broker Management Seminar 19 SRS Designation Core 20 SRS Designation Core 27 Hud 1 Changes

June 2 CE/PL Seminar 4 CE/PL Seminar 9 PL Seminar 11 PL Seminar 16 Hud 1 Changes

July 28 Hud 1 Changes

August 11 CE/PL Seminar 13 CE/PL Seminar 18 PL Seminar 19 Property Management Seminar 20 PL Seminar

September 9 e-PRO 10 Broker Management Seminar 16 Trade Show

October 13 CE/PL Seminar 15 CE/PL Seminar 20 PL Seminar 22 PL Seminar

November 4 Broker Management Seminar

December 1 CE/PL Seminar 3 CE/PL Seminar 7 Night Class - Ethics 8 PL Seminar 10 PL Seminar *Please note all classes subject to cancellation and schedule is subject to change*

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Accredited Buyer’s Representative (ABR®) stand for the benchmark of excellence in buyer representation. What’s their key to success? They know that you can't count on the market—you have to count on your skills. ABR® education provides the expertise you need for an edge in serving today’s home buyers.Not only do ABR® designees earn more, but member benefits such as publications, marketing tools, a referral network and other resources, help them maintain that edge. Now is the time. Earn the ABR® designation.

The path towards becoming an ABR® begins by taking the Accredited Buyer's Representative (ABR®) Designation Course being offered at FAAR March 5 and 6th. After you complete this course, you will automatically become a member of REBAC for one year—free! You’ll then be able to access many of our member benefits and work towards completing

your remaining ABR® designation requirements.

The Seller Representative Specialist (SRS) Designation, being offered at FAAR May 19 and 20th, now recognized by the National Association of REALTORS®, is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. The designation is awarded to real estate practitioners by the Council of Real Estate Brokerage Managers (CRB) who meet specific educational and practical experience criteria.

Regardless of how long you have been in the business, working with sellers is the primary focus for agents across the country. Whether you are new to the industry or a seasoned veteran, the SRS Course will redefine your 'normal' and reinvent the way you represent sellers. You will learn tips and tools that will equip you to list in today's

marketplace.

For the last several years, it has been apparent that there has not been training for Seller Agents similar to the REBAC ABR designation disciplines. The SRS Designation takes a new agent to an accomplished level sooner and an already successful agent to an even higher level of competency.

For additional details or to register for either of these valuable designation classes, email Barbara at bcastillo@faarmembers.com. Article provided by the National Association of REALTORS

Working with Buyers? Sellers? RECA offers the designations for BOTH!

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A short sale is generally more complicated than the typical transaction. This type of sale requires the seller’s lender and other lien holders not being paid in full at settlement to approve the purchase contract. In recent years, lenders have become more efficient at processing short sales and forms have been developed at associations to navigate the process.

With that being said, several companies have adopted short sale approval processes that involve a property with a ratified short sale contract being subsequently marketed on a partner auction platform. The lenders’ stated purpose is to validate that the owner is receiving the best price.

The use of third party auction services can be mandatory or optional depending on the lender and the particular property involved. Partnerships VAR is aware of are NationStar/auction.com, Bank of America/auction.com and Ocwen/Hubzu. For an excellent summary of NationStar’s program produced by the California Association of Realtors® please see www.car.org/newsstand/news/nationstar/

Each lender that includes an auction component in its short sales process has different procedures. Generally speaking, the seller agrees beforehand that when a short sale contract is ratified the property will be placed on an auction platform for bidding by prospective purchasers. The lender then approves the highest bid. Again, this is a general description and each lender’s process involves different requirements. Please note that in some cases auction.com will list the property price lower than the initial ratified contract to encourage bidders.

Below are key considerations you and your clients should consider when engaging in this type of short sale:

Listing Agents/Sellers •Itishelpfulattheoutsettoexplaintosellersthatshort

sales differ from typical transactions. A useful tool for this discussion is “Short Sales: Information for Sellers” (VAR Form 600-H).

•Inallshortsaletransactions,listingagentsandsellersshould contact the short sale lender or servicer as soon as possible after the listing is taken. By doing so, they can determine how the lender or servicer handles shorts sales generally and subsequent offers specifically.

• Contacting the lender or servicer early is especially important if the lender utilizes a short sale/auction process. The listing agent and seller should determine what, if any, language should be included in offers or counteroffers.

•Realtors®shouldalsobeawarethatshortsale/auctionlenders may require both the listing agent and seller to sign documents which could impact their legal rights. For example, a certain marketing plan may be required. Realtors® should advise their clients to seek legal counsel to interpret such documents to determine possible costs or risks to sellers for participating in the process. Prior to

signing these documents, brokers should consult with their corporate counsel concerning their risks.

•Insomecases,sellerattorneyshavebeenabletonegotiatea solution with the lender that does not include an auction.

•ListingagentsinthesetransactionsshouldalsocontacttheirlocalMLSproviderstodeterminehowtheyshouldbelistedinthatMLS.

•Ifthesellerisindefault,anothergoodpracticeisforlisting agents and their sellers to determine if and how any foreclosure process is treated while the seller is participating in the lender’s short sale/auction process.

Buyer Agents/Buyers •Ifabuyerclientisinterestedinashortsaleproperty,explain

that short sale transactions are different from traditional purchases. A helpful tool for this discussion is “Short Sales: Information for Purchasers” (VAR Form 600-G).

•Ifyourbuyerclientinstructsyoutoobtainfurtherinformation on the seller’s short sale lender, and it is not indicatedintheMLS,contactthelistingagenttofindout the name of the lender so the buyer can determine more specifics about the lender’s short sale process. Such process could include an auction.

•Buyersusinggovernment-backedmortgageprogramsshould contact their lenders to determine if an auction platform that requires a buyer fee to bid will impact their ability to obtain a loan.

Licensure Requirements The sale of real estate through an online auction platform is legal. Depending on what the activities of the online auction company are, however, the online auction company may be required to hold a real estate license. An online auction platform might do more than simply facilitate an auction. In some cases such companies may act to solicit buyers and sellers to use their services. Soliciting persons for real estate activity requires a real estate license. Auction.com does have a Virginia real estate firm license and therefore may engage in licensed activity. Consequently, Auction.com engaging in licensed activity would be legal.

As always, VAR and your local associations will monitor these programs and keep you updated on best practices. Brokers,pleasefeelfreetocontacttheLegalHotline

with any questions at:

CONTACT THE LEGAL HOTLINE: Monday - Friday (except holidays) from 10 a.m. - 4 p.m.

Phone: (804) 622-7955 E-mail: hotline@varealtor.com

Brought to you by VAR Legal Team

Short Sales and Auction Platforms

Release date: 1/12/2015

29Movement Mortgage, LLC is an Equal Housing Lender. NMLS ID# 39179 (www.nmlsconsumeraccess.org) | 877-314-1499. Movement Mortgage, LLC is licensed by VA # MC-5112 and MD # 19094. Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. “Movement Mortgage” is a registered trademark of the Movement Mortgage, LLC, a Delaware limited liability company. 841 Seahawk Cir, Virginia Beach, VA 23452. MD, VA | 02/2015 | CU: 557 | EXP: 08/31/2015

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Registration is required. There are 2 ways to register: 1. ONLINE — faarmembers.com - click “Online Registration” under Education and follow the directions to login. 2. FAX — complete the registration information below and fax to (540) 736-0301. March 25 FREE Day of Education 9:00 A.M. -10:00 Scams: If It Sounds Too Good To Be True...(1 Hour Legal Updates CE) Fredericksburg Hospitality House 10:00 A.M. –12:00 P.M. Goodbye HUD-1!! CFPB Changes are Coming – Are you Ready? (2 hours CE Legal Updates, 2 hours PLE Current Industry Issues and Trends) Fredericksburg Hospitality House

12:00 P.M– 1:30 Lunch catered by Mark Geslock at the FAAR Office Fredericksburg Area Association of REALTORS® Building

2:30 P.M. –3:30 Personal and Technology Marketing (2 hours Real Estate Related, 2 hours PLE Current Industry Issues and Trends) Fredericksburg Area Association of REALTORS® Building Name: ______________________________________________ Company: _________________________________________ Phone: ______________________________ Email Address: _____________________________________________________

March is for Members! Member Appreciation Month FAAR is hosting a Member Appreciation Month. We thank our members for supporting FAAR, and we will be showcas-

ing the resources that FAAR provides. Please join us!

March 25 Day of Education FREE (Valued at $99.00) 9:00am-3:30pm

Fredericksburg Hospitality House Free Continental breakfast

8:30am Scams: If It Sounds Too Good To Be True... 9 am - 10 am This course will cover six real estate scams that have been seen around the Commonwealth and ways to prevent licensees and their clients from being victimized. Instructor: Laura Farley Approved for 1 Hour Legal Updates CE. Goodbye HUD-1!! CFPB Changes are Coming – Are you Ready? 10 am – 12:00pm The Consumer Financial Protection Bureau has made sweeping chang-es to the loan disclosures and have replaced the Truth in Lending and HUD-1 forms with completely new disclosures. These changes will have wide reaching implications to the real estate, lending and title industries and will change how settlements are conducted. This class will review the history and substantive changes to the two new disclo-sures and give students a strong foundation for the upcoming changes. Instructor: Michele Freemyers Approved for 2 hours CE Legal Updates, 2 hours PLE Current Indus-try Issues and Trends

Fredericksburg Area Association of REALTORS® Building Lunch (BBQ) Provided By Mark Geslock 12:00pm – 1:30 pm Come join us at the FAAR building for our open house. Games, food and prizes! Personal and Technology Marketing 1:30 pm – 3:30 pm This course is designed to provide Realtors with infor-mation on the major types of technology available to LE-GALLY market their business. Video, websites, social me-dia platforms, email, and photo etiquette will be addresses. Instructor: Kevin McGrath Approved for 2 hours Real Estate Related, 2 hours PLE Current Industry Issues and Trends

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540/786-8321 • 800/682-1049 • 2801 Plank Road • Fredericksburg, VirginiaInfo@VirginiaLandmarkHotels.com • VirginiaLandmarkHotels.com

Fredericksburg HOSPITALITY HOUSE Hotel & Conference Center

Complimentary breakfast • Complimentary wireless Internet • Ample free parking Surrounded by restaurants, entertainment and shopping in the heart of Central Park Workout room • Business center • Night club with live entertainment on weekends

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By Paddy Osborne, Technology Committee ChairProtect your passwords!

Some people are clinging onto their checkbooks and will mail in payments for all of their monthly bills. They might also avoid online shopping and have lives devoid of social media.

These are the lucky ones who don’t have to worry about creating and remembering cryptic passwords for all of their web based activities.

For everyone else, there has been a steady increase

over the past few years of the number of things we do and access online, and each one of these things needs a password.According to a 2012 survey by PasswordResearch.com, the average number of personal and work related passwords per person is 25.5, and SplashData’s “25 Worst Passwords of 2014” list might look a little familiar to some of you……….

This author knows from personal experience that creating and remembering even 5 – 10 passwords can be difficult, and one ends up using the same password over and over, which can be a risky practice. In many cases, all the bad guy needs is your Email address and password to wreak havoc.

Now the good news! There are a handful of services available that will generate and store passwords for you and then automatically log you in each time you visit a website that you have pre-registered on. All you have to do is set up a super cryptic master password for the program itself. A list of services can be found by Googling “PASSWORD MANAGER”. There are a mix of paid versus free services, and it’s up to the user to decide what they are willing or interested in paying for, but either way one should read the security information on each service to make sure they provide the highest levels of encryption.

Rank Password

1 1234562 password3 123454 123456785 qwerty6 1234567897 1234

8 baseball9 dragon10 football11 123456712 monkey13 letmein14 abc12315 11111116 mustang

17 access18 shadow19 master20 michael21 superman22 69696923 12312324 batman25 trustno1