Notes and Information from Brokers Forum on April 22, 2010
1. New RPA-CA – Training, etc.
Rollout of new form – April 28
Classes available through our Association:
- Tuesday, April 27, 2010 – 9:00 a.m. to 12 Noon - Free
- Friday, May 7, 2010 – 9:00 a.m. to 12 Noon – DRE Credit – Cost $45
- Friday, June 25, 2010 – 9:00 a.m. to 12 Noon – DRE Credit – Cost $45
2. CAR – REALTOR ACTION FUND Assessment/Opt-Over
Assessment for California Real Estate Political Action Committee (CREPAC)
When will it be implemented: 2011
Amount: $49. Failure to pay results in termination of membership.
Mandatory Assessment. Cannot opt out, but can opt over – funds can go into CAR’s general fund for political purposes such as education and mobilizing of members on issues of importance to the real estate industry.
3. Code of Ethics/Standards of Practice Update – Many Changes
Click here to view changes.
4. Upcoming Strategic Planning Session – Planning for our Future
Association Offices – Current lease is up in 2012
Statewide MLS Update - 11 MLS either on or scheduled for rollout
(click here for list of current participants and Associations who have signed letters of intent)
REALTORS Property Resource - What it is? National parcel central database.
NAR Member benefit
100% Owned and controlled by NAR’S members
No third party involved
Long-Term Goal – Rich analytics
Provide all available information about residential and commercial properties
Out of approximately 900 MLSs in U.S., 26 have signed agreements to participate; 278 agreements are under review by BODs and Legal Counsels.
Beta testing began in 1Q 2010
(Click here for more information.)
5. Broker Metrics Program - Do we want to allow Brokers to use it?
For more info click here.
- Looking for Broker Feedback
- Broker program which contains 7 tools which allow the office manager to view his office on area time basis relative to its competition.
- Uses MLS data to help manage inventory and production figures, perform market share and market dynamic (trends) analysis.
- Provides brokers/managers ability to better manage their office operations.
- Cost to Brokers approximately $90/mo – optional to purchase
- MLS would have to grant permission to provide RETS feed to BrokerMetrics of all MLS data.
6. Reports of Proposed Property License Fee
Many rumors and emails being floated around regarding the possible property license fee – NAR consulted and reported that this is not true.
Click here to view original FALSE email.
7. New Healthcare Bill – Affects on Real Estate
For more information click here.
- Does not go fully into effect until 2018
- 28% of REALTORS have no insurance
- Bill mandates healthcare insurance.
- Small business of less than 50 employees are exempt
- Insurance would be purchased through an exchange to obtain comparisons
- Pre-existing conditions covered, no limit. Children can remain on parents insurance until age 26.
- No government plan attached.
- No real estate tax proposed relating to coverage of health care costs
- No change to mortgage interest deduction
- Increase of 3.8% Medicare tax on net investment income levels $250/$500
- Up 15% to 18% on all investment gains
- Capital gains exclusion on sale of primary residential property still in place
8. Thursday Brew - (New Caravan Platform)
Launch – Thursday, May 6
Networking, Education and Property Tour
Area for property tour on May 6th – downtown – Trolley will be used
9. CanTree and Golf Tournament Update
Click here for Golf Tournament Flyer.
Click here for Golf Tournament Sponsorship Information.
10. Game Changer Project Update
11. Homebuyer Tax Credit – State and Federal
Get State tax credit information here.
Get Federal tax credit information here.
12. Non-Agenda Items for Discussion
