February 14 3:30 pm - 5 pm Women's Council of REALTORS® February 18 OFFICE CLOSED PRESIDENT'S HOLIDAY February 26 3 pm - 4:30 pm Staff training February 27 9 am Commercial Swap February 27 1 pm - 2 pm Class C Homes vs. Mobile Homes February 28 9 am to Noon MLS Orientation March 18 9 am to 4 pm New Member Orientation March 21 OFFICE CLOSED GOOD FRIDAY

President Bill Lucks President Elect Steve Alexander 1st Vice President Judy Dean 2nd Vice President Susan Mills Treasurer Sue Bramhall Past President Rob Harman D I R E C T O R S Lit Dryden Bruce Plummer Andrew Ratner Trina Joyner Sharon Palmer

 

WILL YOU HAVE ENOUGH CREDITS TO RENEW YOUR LICENSE?

Virtually all of the February continuing education credit classes are sold out! Make sure you are not caught in a mad, expensive scramble at the end of April.

Go to www.thescaorstore.com to sign up for your classes. Faxing over a class registration does not ensure the class will be available when processed.

See the full schedule of OPEN CLASSES
and Register Today >>

DATE	TIME	CLASS	LOCATION
Wed, February 13	9 a.m. - 4 p.m.	Broker's Core - 6 hours	SCAOR
Tues, March 4	9 a.m. - 4 p.m.	Broker's Core - 6 hours	CHEER
Thurs, March 13	9 a.m. - 4 p.m.	Broker's Core - 6 hours	SCAOR
Thurs, April 10	9 a.m. - 4 p.m.	Broker's Core - 6 hours	SCAOR

February 7, 2008 It is difficult to believe that our SentriLock program has been in effect for over a year. Hopefully, you will agree that this program has been and continues to be a successful benefit for you and your office. Our SentriLock Box warranty period has expired; therefore, we wanted to remind you of the potential impact if the following occurs: "misuse or abuse of the hardware, any attempt to open, dismantle, or repair (except for battery replacement) the SentriLock Box." If you or your subscriber mistreat or damage the box you will be responsible for payment of a $30.00 diagnostic and handling fee, a pro-rate share of shipping and handling fees and insurance. If the SentriLock box must be replaced, you will be responsible for the replacement cost and related shipping charges. The SentriLock Boxes are an asset and investment for the Association. We appreciate your continued support and care of the devices. Sincerely, Ruth Briggs King Executive Vice President

The Rookie Committee is sponsoring an educational talk about Class C homes vs. mobile homes. This informative session will be held at SCAOR from 1 to 2 p.m. on February 27. There will be no cost and you can call or email the staff at SCAOR to register for this open discussion that will clarify this often confusing subject.

If you are working with the Seller or the Buyer of a Manufactured home, you may wish to verify that the home is assessed and classified as Real Estate (Class "C") and not a motor vehicle. The following steps, provided by Sussex County Department of Assessment, explain the process from an owner's point of view.

Click Here to Read the Steps >>

November 28, 2007 Dear Commission Members: As you are aware, the Delaware Council on Real Estate Appraisers is charged with the responsibility under Chapter 40 of Title 24 to protect the public, specifically those persons who are the direct recipients of appraisal services. A major portion of this undertaking is the licensing and regulation of those who perform appraisals in the state. Delaware is a mandatory state. This means that a Delaware licensed or certified appraiser must prepare all appraisals, including those for loan purposes. The statute defines an appraisal as an analysis, opinion, or conclusion relating to the nature, quality, value, or utility of specific interests in, or aspects of, identified real estate as of a specific date. The Uniform Standards of Appraisal Practice defines an appraisal as an Opinion of Value. Barron's banking dictionary defines a Broker's Opinion of Value as "an estimate of the probable selling price of residential property based on comparable prices of comparable properties in the area, or a drive-by inspection, which is often used by a mortgage service as an alternative to a full property appraisal when a loan is in default or loan terms are being modified. This is also called a competitive market analysis. Section 4019 of Subchapter III of Chapter 40 of Title 24 says this statute "shall not apply to any Delaware licensed real estate sales person or broker, who prepares a competitive market analysis survey used only for the purpose of listing a property for sale or lease." The members of Council are of the opinion the completion of Broker Price Opinions by anyone for any purpose other than for a listing presentation is in violation of Chapter 40 of Title 24. Our statute provides a penalty: "if (anyone) is found guilty of engaging in the practice of appraising, or using in connection with the person's name, or otherwise assuming or using any title or description conveying, or tendering to convey the impression that the person is qualified to act as an appraiser, such offender shall be guilty of a misdemeanor." This fine shall not be less that $500 or more than $1,000 for the first offense. For a second or subsequent conviction, the fine shall be not less that $1,000 or more than $2,000 for each offense. Few lenders know that Delaware is a mandatory state. It is a violation of the statute for a real estate agent or broker to complete a competitive market analysis or broker's price opinion to be used for lending purposes. Agents and Brokers must know and understand Delaware law regarding this issue. We are requesting your assistance in notifying members of the real estate community about the Council on Real Estate Appraisers' regulations. If you have any questions, please do not hesitate to contact the Council. Regards, Donald E. West, Chairman Delaware Council on Real Estate Appraisers

 
WOMEN'S COUNCIL OF REALTORS^® SUSSEX COUNTY, DELAWARE
Please Join Us Next Thursday, February 14 !

Interested in forming a local chapter of WCR?

Then sign up and bring a friend to hear more about the Women's Council on Thursday, February 14, 2008 from 3:30 - 5 pm at SCAOR.

For further information contact Brad Riedle at 302-227-4800 or briedle@remax.net. To register, click on the link below.

Please RSVP Here >>       

Access the book online immediately!

At home or at work, downloading the book all at once or by sections,
in a streamlined PDF printable / viewable format, getting your book is now so convenient!

Click here to purchase your copy and access the PDF link now!

 

REALTORS® Please Read This: Are you using the term REALTOR® correctly in communications and advertising? You may visit www.realtor.org website for more information. ("membership mark" is your search word) Want a quick tip to keep you out of hot water? Use the word "member" where you are thinking of using the term REALTOR® in your sentence or phrase. Example #1: Suzy Q is your REALTOR® at the shore is incorrect usage since you would not say, "Suzy Q is your member at the shore." Let's try again... Suzy Q is your real estate agent at the shore and a member of the Sussex County Association of REALTORS®. Now, that is acceptable. Example #2: Farmer Brown, top 1% of REALTORS®, is your top agent on Delmarva. Would you say, "Farmer Brown, top 1% of members, is your top agent on Delmarva?" No, it doesn't make sense and neither does using the term REALTOR® improperly. Final Quiz: Which sample is correct?: Smith, Ltd., REALTORS® Smith REALTORS®, Ltd. "a" is correct.

Register Now >> or see the Attached Flyer for more information.

Code of Ethics for New REALTORS^®

For new REALTORS^®, the NATIONAL ASSOCIATION OF REALTORS^®' Code of Ethics and Standards of Practice often seems distant from the more immediate need to prospect for listings, match buyers with properties, and close your first transactions.

But learning about the Code and making its principles a part of your daily life in your new real estate career are essential to getting your career going on the right road to prosperity.

Click Here to Read More >>

Below is a case interpretation related to Article 6. Please read the complaint and make a judgment on how the Professional Standards Panel should rule. The Hearing Panel's decision will be published in next week's newsletter.

Case #6-4: Acceptance of Rebates from Contractors
(Revised Case #16-4 May, 1988.
Transferred to Article 6 November, 1994.)

REALTOR^® A, who managed a 30-year-old apartment building for Client B, proposed a complete modernization plan for the building, obtained Client B's approval and carried out the work. Shortly after completion of the work, Client B filed a complaint with the Board of REALTORS^® charging REALTOR^® A with unethical conduct for receiving rebates of "kickbacks" from the contractors who did the work.

At the hearing, Client B presented written statements from the contractors to substantiate his charges.

REALTOR^® A defended himself by stating that he had carried out all work involving the preparation of specifications, solicitation of bids, negotiations with the contractors, scheduling work and supervising the improvement program; that he had presented all bids to the owner who had authorized acceptance of the most favorable bids; and that he and Client B had agreed on an appropriate fee for this service.

REALTOR^® A also presented comparative data to show that Client B had received good value for his money. After all of the contracts were signed and the work was underway, REALTOR^® A found that his fee was inadequate for the time the work required; that he needed additional compensation but didn't want to add to his client's costs; and that when he explained his predicament to the contractors and asked for moderate rebates, they agreed.

Questioning by panel members revealed that the contractors felt that since they were being asked for rebates by the man who would supervise their work, they felt that they had no choice but to agree.

How do you think the Professional Standards Panel ruled?
Find out in next week's At a Glance.

 
Listing of February 7, 2008 through March 12, 2008
Delaware News & Meetings

COMMERCIAL / RESIDENTIAL USE RULE CHANGE The SCAOR Board has approved a change recommended by the MLS Committee regarding certain commercial properties. Members may now list as commercial and also as residential those properties that are zoned commercial with residential use and on which a home exists.

 
Congratulations to our SentriSecure Offices!

SentriSecure Brokerages as of 2.7.08 >>

Brokerages with Combo Boxes as of 2.7.08 >>