kar.com | May 2016
Top Stories
New Kentucky form approved by KREC
Effective May 6, pursuant to 201 KAR 11:350, the Seller's Disclosure of Property Condition Form (SDF) has been updated and approved for use by the Kentucky Real Estate Commission (KREC). Enforcement will begin on September 1. The updated form can be found on the KREC website in  the Legal section under Forms & Contracts. This is the SDF form that must now be utilized as set forth in 201 KAR 11:350. Along with the new form came new regulations and changes to the license law manual. Download the new form. Download the new license law manual
Belle of Louisville cruise highlighting the KAR Summer Business Meeting
June 7-10
Crowne Plaza, Louisville, KY

The KAR Summer Business Meeting is heading to Louisville this year and provides members a great chance to network with colleagues in a relaxed, casual atmosphere while learning more about the current real estate market and what the state association is doing to move the industry forward. To top off the event, members can enjoy a free cruise on the Belle of Louisville on Wednesday night courtesy of the Greater Louisville Association. On Wednesday, members will have the opportunity to meet with Steve Stevens, KAR's new CEO. The Summer Business Meeting is free to attend. Register here 
LeadershipKAR taking applications for 2017 class
Join the ranks of some of the most successful REALTORS® from around the state by becoming part of the LeadershipKAR program, offered by the Kentucky Association of REALTORS® since 2002. Recognizing that leadership development is an essential element in the process of improving the industry, KAR attempts to identify emerging REALTOR® leaders in the state, encourage them with motivational activities and assist in sharpening their leadership skills in the hope they will exert a strong positive influence on the future of the Association and profession. Apply now 
KAR Awards - nominations accepted
KAR invites nominations of members (and associations through the CSA) for the 2016 awards. These awards have been created to recognize members, through their commitment to the industry, who consistently demonstrate the practices that define the very meaning of the term "REALTOR®".
KAR News
Stevens named CEO for KAR
KAR has named Steve Stevens as its Chief Executive Officer, effective May 17, 2016. Stevens had most recently been president and CEO of Greater Spokane Incorporated (GSI), the 1,200-member chamber of commerce and economic development agency for eastern Washington. In his role, Stevens' focus was on recruitment and expansion of business and industry, government relations, workforce development and member services. During his tenure, strong legislative advocacy by the organization helped secure over $1.7 billion in new funding for the region. Read More 
Join the rebuilding effort in eastern Kentucky with Hand in Hand
Trip dates are October 5-8
As part of KAR's commitment to community service, the Association is participating in an Appalachian Immersion Trip to eastern Kentucky. The trip is in cooperation with Hand in Hand Ministries, an organization, based in Louisville, whose mission is to help empower individuals and families living in poverty. We are coordinating a group of up to 35 member volunteers who want to participate in the trip to eastern Kentucky to help make a difference right here in our home state. Learn More 
KAR Elections: get involved and make a difference
Deadline: Thursday, September 1
KAR is seeking nominations for several leadership positions for 2017. The information regarding the openings, terms, voting information and the form can be found on the nomination form. If you need additional information or would like to discuss, please contact Julie Johnson, Legal Affairs Director, at 800.264.2185 or at jjohnson@kar.com. Nomination form
Open Positions: 
President-Elect (1 position, 1 year term) 
Treasurer-Elect (1 position, 1 year term) 
At-Large Director (3 positions, 3 year term) 
Region Director for 2, 4 & 6 (3 positions, 2 year term) 
At-Large Delegate (3 positions, 3 year term) 
NAR Director (1 position, 3 year term)  
Question of the Month: Lead generation sources
Leads can make or break an agent. Now that the weather is heating up and the selling season is upon us, we want to know where you generate the most leads. Take our Question of the Month and let us know. Take the Survey
Do you have legal questions? Use the KAR Legal Hotline
The KAR Legal Hotline,  offered through the law offices of Vaughn & Smith, PLLC, is designed for members (brokers and/or broker designees) to have direct access to a qualified attorney who can provide information on real estate law and related matters. Further, the program is intended to provide legal preventative maintenance to all KAR members and, through them, the public they serve. Read More 
"Like" the Kentucky REALTOR Facebook page
Do you want the inside scoop on all things real estate in Kentucky? Then get in on the action. Keep up with what your association is doing in real-time - from legislative updates and technology to the newest business tools and member photos. "Like" here 
Housing Stats
These stats represent the market conditions for the entire state of Kentucky. For a complete breakdown of housing stats, click here or contact KAR at 800.264.2185. Check the KAR Facebook page for an easy-to-share housing snapshot graphic.  
   
March 2016 vs March 2015
 
Homes Sold 2016: 4,032
Homes Sold 2015: 3,712
% Change: 8.6%
 
Median Home Price 2015: $120,819
Median Home Price 2014: $115,149
% Change: 4.9%
Nationwide Insurance: Save an additional 5% on auto and power sports
You can save 25% with package discounts and an additional 5% with a KAR discount on your auto and power sport (boat, RV and motorcycle) coverages. Just mention that you are a member of KAR when you call to receive immediate savings. 
Governmental Affairs / RPAC
2016 KAR Legislative Scorecard
Find out how KAR fared in the 2016 legislative session and what bills passed and were signed into law, which were defeated and which didn't see any action. With over 937 bills filed and only 144 passed by both Chambers and delivered to the Governor for signature, there is still much work left to be done. In the upcoming session, one key issue that will likely see some momentum is "tax on services" as talk is floating that tax reform is on the table. Read More
FHA proposes changes to reverse mortgage program
On May 19, 2016, the Federal Housing Administration (FHA) published a proposed rule concerning its Home Equity Conversion Mortgage (HECM) program, Strengthening the Home Equity Conversion Mortgage Program   (FR-5353-P-01). Read More 
Legal Issues
Buyer lawsuit fails in erosion case
A Georgia federal court has considered whether a brokerage could be liable to a buyer for failing to advise the buyer about erosion problems that the buyer discovered on the property following her purchase. In 2012, Darlene Spies ("Buyer") became interested in purchasing a retirement home and she decided to look for a property on St. Simons Island, Georgia.  As a hobby, the Buyer had previously purchased homes and renovated them, including two homes located on the water. Read More 
2016 Code of Ethics
The 2016 Code of Ethics has been posted to Realtor.org and is now available for immediate download. Click here for a copy 
Education
Save 25% on the ABR Designation course in May
The Accredited Buyer's Representative (ABR®) Designation Course establishes a foundation of training, skills, and resources to help you succeed as a buyer's representative. The course counts for 6 hours elective CE credit and, 12 hours of broker credit and 12 hours of GRI elective credit. Register now 
Video based, online CE courses with Jason Vaughn
KREEF just launched 2 new video based online CE courses featuring Jason Vaughn, KAR's legal counsel, as the instructor. These courses are law approved for 3 hours of CE each and are just like being face to face with the instructor. Topics focus on Kentucky specific information to expand your knowledge on relevant issues while helping you avoid trouble.

Scared Straight: Disclosure Issues for Real Estate Agents

3 hours law hours
Register Now

3 hours elective hours and NAR ethics credit
Register Now
 
GRI courses = post-licensing credit, schedule posted
The six mandatory courses for GRI - 100-600 - were approved to cover the 48 hours of post-licensing education (PLE) that went into effect January 1. In addition to PLE, each of the GRI courses are approved for 6 hours of CE (3 elective/3 law) and 8 hours of broker license credit. To see a full schedule, and benefits, of the GRI program, click here
2016 is the deadline for NAR's ethics requirement
December 31 of this year is the deadline for fulfilling the NAR's Code of Ethics requirement. If you haven't completed an ethics course in the past four years, you have to do so by the end of the year. Consider taking a course that fulfills the ethics requirement AND completes your 6 hours of CE for Kentucky. Two birds, one stone. Register Here  
Start in real estate with the online pre-licensing course
The 96 hour salesperson pre-license course is now completely online through the Kentucky Real Estate Education Foundation (KREEF) and is approved by the Kentucky Real Estate Commission (KREC). The total cost of the program is $599, which is more affordable than most other providers, and includes all materials needed for the course including the textbook and other resources. Learn more about the program here  
Need CORE?
Take the CORE course online and save. Available anytime, 24/7, this course requirement through KREC also counts as 6 hours of law CE credit. Don't wait until the last minute. Register Now  
From the KAR Blog
For the latest headlines,  click here  or check out some of the most popular posts below:  

Jobless rates up in 65 Kentucky counties in March 2016

Stevens Named CEO for KAR 

7 benefits of a home's outdoor space
National Issues
REALTOR brand turns 100 in 2016
100 years ago, the trademark "REALTOR®" was adopted to identify the members of NAR. A century later, time and technologies may have changed the industry and how business is conducted, but our members' strong ideals, commitment to go the extra mile, and their REALTOR® pride haven't.  So NAR wants you to tell us what you're doing in your communities. Your submission will be part of an online project that will show who REALTORS ® are and what you're made of. Read More 
Video series from NAR: The Voice for Real Estate
In the video series from NAR called The Voice for Real Estate, a bi-weekly roundup of news that affects the industry and your business, NAR explores many issues that members may find useful in their practice and with clients.  Read More 
Affinity Partners
Check out the KAR affinity page for all the deals and discounts from great partners:
  • GEICO
  • Kings Island
  • University of Kentucky Federal Credit Union
  • UPS
  • KY Prescription Drug Card
  • Nationwide Insurance
  • OfficeMax
Read More
Sponsors
KHC can save your clients money
Wouldn't your clients love to have extra money every month? With the exclusive Kentucky Housing Corporation (KHC) first-time Home Buyer Tax Credit, they can save up to $2,000* per year!
 
Along with the tax credit, KHC's has   Down payment Assistance  up to $6,000*. By using the Down payment Assistance Program, or DAP, borrowers are able to close on their new home with little, or no money, out of their pocket. For full details and terms, visit   KHC's website  (under Home Buyers). 

*Terms and conditions apply. Please visit KHC's Web site for full details.  
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  Kentucky Association of REALTORS | kar@kar.com | www.kar.com | 800.264.2185
2801 Palumbo Drive, Suite 202
Lexington, KY 40509
Lamont Breland, 2016 KAR President