Feb 
2018

I SSUE
No. 2
 The Mid-Fairfield Record

 Click to  Visit MFCAR.COM

MFCAR Upcoming Events

FEBRUARY

11:30 p.m. - 2:00 p.m. -  Norwalk Inn & Conference Center
99 East Avenue Norwalk, CT 06851
MARCH:

11:30 a.m. - 1:30 p.m. - MFCAR 19 Imperial Ave, Westport 

 9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church

9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church

21 - YPN Luncheon - More information to come.

30 - Good Friday - MFCAR BOARD OFFICE CLOSED

APRIL:

18 - Ethics Mandatory CE Class - Seats are limited
9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church

25 - Residential Construction Practices - Elective CE Class
9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church

25 - Giving Back Fundraiser - More information to come.

President's Update

 
In spite of the crazy weather we are experiencing - 6 inches of snow on last Sunday followed by 66-degree weather on Wednesday, our spring market has arrived. To kick off our year there are a few things I'd like to share with everyone:
 
  1. DO YOU KNOW - We are preparing for our first General Membership meeting of the year which is scheduled for Wednesday, February 28. In addition to swearing in the local and state Officers and Directors, our special guest speakers will be Cindy Butts - Chief Executive Officer, CTR; James Heckman - General Counsel & Government Affairs Director, CTR; and Michael Barbaro - 2018 CTR President.
Today, more than ever, REALTORS® need to stay on top of what is happening in our profession and in our State. Cindy, James, and Michael will give us the updates on real estate in Connecticut and how it is affecting our business. Please join me for this informative and critical session.
 

2. DO YOU KNOW - There is an urgent LEGISLATIVE ALERT regarding a new bill that you need to know about and take action. SB 181 an Act Establishing a Pilot Program for the Preservation of Open Space is a wolf in sheep's clothing. This bill should be named what it really is - establishing a new sales tax on home buyers at the time of purchase.  The proposal would permit a 1% sales tax on homes in excess of $150,000. 

 
You can read more about it when you log into the SMART MLS or go to www.ctrealtors.com/salestaxonhomes
   

3. DO YOU KNOW - Elizabeth Mendenhall - NAR 2018 President - challenged all REALTORS® to "OWN IT". We can no longer be complacent and allow the world to change around us. Are you simply a door opener? There are new companies popping up that can do that for the consumer.

 
In order for REALTORS® to stay relevant to the transaction we need to be the consumer's trusted advisor. As the real estate industry continues to evolve at an ever-increasing rate of speed, we need to pick up the pace and lead, not follow. So, I challenge each of you to OWN our competition, OWN our profession, OWN our future.
   
I look forward to a challenging 2018. Please join me on Wednesday and share your thoughts with me.


GENERAL MEETING/LUNCHEON

  MFCAR General  Meeting Luncheon 

Registration open until 4:00 p.m. today
 
Topic: Updates on real estate in Connecticut 
and how it is affecting your business.
 
* Tax Reform
 
* Tax Cuts and Jobs Act - What it Means for Homeowners
and Real Estate Professionals
 
* Major Provisions Affecting Current and
Prospective Homeowners
 
* Deductions for State and Local Taxes
 
* Mortgage Interest Deductions
   
Swearing in of 2018 Officers & Directors
 
Special Guest Speakers:
 
Cindy Butts - Chief Executive Officer, CTR
 
James Heckman - General Counsel & Government Affairs Directors, CTR
 
Michael Barbaro - 2018 CTR President 
 
When:
Wednesday, February 28, 2018
11:30 a.m. - 2:00 p.m.
 
Where:
Norwalk Inn & Conference Center
99 East Avenue
Norwalk, CT 06851
 
Register:
MFCAR Member Fee: 25.00
Non-Member Fee: 35.00
 
 
 
  Meeting generously sponsored by:
 
Coastal Town Moves
 
 
 
Total Mortgage


ETHICS CORNER

Code of Ethics and 
Arbitration Manual  2016

Case #3-10: Disclose Accepted Offers with Unresolved Contingencies (Adopted May, 2004.) 

REALTOR® A listed Seller S's house and placed the listing in the local association's MLS. Within a matter of days, REALTOR® X procured a full price offer from Buyer B. The offer specified that Buyer B's offer was contingent on the sale of Buyer B's current home. Seller S, anxious to sell, accepted Buyer B's offer but instructed REALTOR® A to continue marketing the property in hope that an offer that was not contingent on the sale of an existing home would be made. 

A week later, REALTOR® Q, another cooperating broker working with an out-of-state transferee on a company-paid visit, contacted REALTOR® A to arrange a showing of Seller S's house for Buyer T. REALTOR® A contacted Seller S to advise him of the showing and then called REALTOR® Q to confirm that he and Buyer T could visit the property that evening. REALTOR® A said nothing about the previously-accepted purchase offer.

 REALTOR® Q showed the property to Buyer T that evening and Buyer T signed a purchase offer for the full listed price. REALTOR® Q left the purchase offer at REALTOR® A's office. 

REALTOR® A informed Seller S about this second offer. At Seller S's instruction, Buyer B was informed of the second offer, and Buyer B waived the contingency in his purchase offer. REALTOR® A then informed REALTOR® Q that Seller S and Buyer B intended to close on their contract and the property was not available for purchase by Buyer T. 

REALTOR® Q, believing that REALTOR® A's failure to disclose the existence of the accepted offer between Seller S and Buyer B at the time REALTOR® Q contacted REALTOR® A was in violation of Article 3 of the Code of Ethics, as interpreted by Standard of Practice 3-6, filed an ethics complaint with the association of REALTORS®. 

At the hearing called to consider the complaint, REALTOR® A defended his actions noting that while Buyer B's offer had been accepted by Seller S, it had been contingent on the sale of Buyer B's current home. It was possible that Buyer B, if faced with a second offer, could have elected to withdraw from the contract. REALTOR® A argued that continuing to market the property and not making other brokers aware that the property was under contract promoted his client's best interests by continuing to attract potential buyers. 

The Hearing Panel disagreed with REALTOR® A's justification, pointing to the specific wording of Standard of Practice 3-6 which requires disclosure of accepted offers, including those with unresolved contingencies. REALTOR® A was found in violation of Article 3. 


LUNCH & LEARN

THE "EVOLUTION OF STAGING" LUNCH & LEARN

Staging Solutions to Meet the Changing Needs of Today's Sellers

Monday, March 12, 2018
11:30 am - 1:30 pm
MFCAR Board Office - 19 Imperial Avenue - Westport, CT

Join Andrea Marx, owner of Lifestyle Staging by AM and Claudia Tergis, Home Staging Expert for an informative introduction into staging solutions that address the transitional challenges of today's sellers, AND make the subject of staging an easier and more receptive suggestion to offer your client. 

  • How Redesign, Blending and Turn-Key Rental are viable, cost effective alternatives when traditional empty home staging is not an option.
  • How the Power of a Consultation can be a valuable marketing advantage at a listing presentation.
  • How our Expanded Service Offerings assist owners in preparing their home for sale and photography.
  • How Design/Decor Solutions prior to initiating interior improvements can save the seller money and prepare a home for today's buyer.
Hear from your agent colleagues about their staging challenges and the transformational solutions we provided.

This lunch & learn is a complimentary event with limited availability.


CE Connection

MFCAR 2018 CE Class schedule

For quick online registration click 
  

To register by fax or mail print  this registration form

Reminder registration is not complete until payment is received. 

No Refunds
 
This Old Connecticut House
Elective CE Class
Instructed by Tiger
March 14, 2018
9:30 AM - 12:30 PM

Mandatory CE Class
Instructed by Terry Hastings
March 19, 2018
9:30 AM - 12:30 PM
Ethics
Mandatory CE Class
Instructed by Terry Hastings
April 18, 2018
9:30 AM - 12:30 PM

Residential Construction Practices
Elective CE Class
Instructed by Tiger
April 25, 2018
9:30 AM - 12:30 PM
Fair Housing
Mandatory CE Class
Instructed by Terry Hastings
May 16, 2018
9:30 AM - 12:30 PM



A new two-year cycle began January 1, 2017. The deadline for this cycle is December 31, 2018.
  •  Brokers - If you passed the CT Broker full licensing examination between 4/1/2016 - 3/31/2018, you do not need to take continuing education for 2018.
  • Salespersons - If you passed the CT Salesperson full licensing examination  between 6/1/2016 - 5/31/2018, you do not need to take continuing education for 2018.

Online Classes

 Sign up for online classes through the CE SHOP. Not only will you get a discount but you'll also support MFCAR. 
 
February 20% off! Enter February20  at checkout to 
receive discount (runs 2/1/18 - 2/28/18)

March 20% off! Enter March20 at checkout to receive discount
(runs 3/1/18 - 3/31/18

April 20% off! Enter April20 at checkout to receive discount (runs 4/1/18 - 4/30/18)

 
RAYMOND GATES SCHOLARSHIP




GATES SCHOLARSHIPS - APPLICATIONS NOW AVAILABLE
 
2018 Raymond F. Gates, Jr. Memorial Scholarship applications are now available online.  The application deadline is Monday, April 9.
 
If you have a child/stepchild who is a high school senior or full-time college/graduate student with at least 1 year left to complete and you have been an active CT local board and state REALTOR® member for the one year period commencing April 9, 2017 - he/she is eligible to apply.  A few important things to note:
  • Grandchildren are not eligible to apply.
  • When creating an account/filling out the application online - the account and application must be in the name of the STUDENT, not the parent.
  • If you have previously created an online account and/or submitted an application, you do not need to create a new account - you can use your existing account to apply again this year.
  Click here for more information and to access our online application system.

Market Trends

The following are statistics taken from SMART MLS records. 
                      
Continue to Show Listings
Single Family Homes 
  For:  January 1 - 
February 26, 2018

TOWN
UNITS
Average/ Median 
Market Time  
Norwalk
45
120/81
Weston
16
184/153
Westport
27
152/91
Wilton 
19
198/147
Fairfield 
46
123/61

Pending (Deposit) Listings:
 
Single Family Home s
For: January 1, -  February 26, 2018

TOWN
UNITS
Average/Median 
Market Time
Norwalk
44
88/74
Weston
10
173/114
Westport 
37
266/186
Wilton 
6
143/126
Fairfield 
41
176/113
  
 
Please click the following link to view the above statistics as well as the Avg./Median price for Houses and Condominiums sold for   January 1,- February 26, 2018 & January - December '17 , according to the CMLS.

New Members
JANUARY 2018

Affiliate Members
Total Affiliate Members - 37

BAXTER, SUE
FM HOME LOANS
WESTPORT
VAN NOPPEN, CARLIN
FIG LINENS AND HOME
WESTPORT


New REALTOR® Members
Total REALTOR® Membership - 1123

CAMPBELL, JAMES
JAMES CAMBELL
WESTPORT
CHAMBERS, MELBA
WM. RAVEIS
STAMFORD
HANAUER, CAROLINE
WM. RAVEIS
WILTON
KIM, DEBORAH
REALTY QUEST
DARIEN
MATZKE, CLAIRANN
HALSTEAD
WILTON
MERRILL, BETH
HIGGINS GROUP
NORWALK
MOBLEY, ROBERT
DOUGLAS ELLIMAN
GREENWICH
MURPHY, GAIL
HIGGINS GROUP
WESTPORT
RACI, HARRY 
BERKSHIRE
WILTON
STEVENS, TEALE
COLDWELL
WESTPORT
VOLPE, THOMAS
KELLER WMS PRESTIGE
STAMFORD
VORA, KOMAL
HIGGINS GROUP
WESTPORT