March 
2018

I SSUE
No. 3
 The Mid-Fairfield Record

 Click to  Visit MFCAR.COM

MFCAR Upcoming Events
MARCH:

28 - Evolution of Staging Lunch & Learn 
11:30 a.m. - 1:30 p.m. @ MFCAR  19 Imperial Avenue, 
Westport, CT 06880

29 - Birchwood Country Club REALTOR® Annual Open House
4:00 p.m. - 6:00 p.m. -  25 Kings Hwy S, Westport, CT 06880

30 - Good Friday - MFCAR BOARD OFFICE CLOSED

APRIL:

18 - Ethics Mandatory CE Class -  CLASS IS FULL
9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church
9:30 a.m. - 12:30 p.m. - Saugatuck Congregational Church
 
5:00 PM - 7:30 PM -  Rizzuto's Restaurant & Bar,  540 Riverside Avenue,  Westport, CT 06880

MAY:

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


23 - MFCAR General Meeting - Save the Date -  More information to come.

President's Update

By the time you read this newsletter you will already know whether Nor'easter #4 is a bust or not. I'm hoping for a bust but preparing for several inches of snow. In the meantime, there are a few other things that you may or may not know:

DID YOU KNOW - Inman Select is an exclusive real estate news service. It connects you to the latest news, powerful insights and a community of real estate leaders. I've had a number of people ask me how to subscribe to it. Thanks to CTR it is now a complimentary feature for Connecticut REALTORS®. You can choose to receive any or all of the following options:
  • Inman Daily Headlines
  • Inman Weekly Headlines
  • Special Reports
  • News Article Archives
  • Inman Video Vault
  • Inman Select Webinars
  • Inman Connect Live Stream
Contact  David Pendrys  ( David@CTRealtors.com ) at the CTR office to start your complimentary subscription today.

2. DID YOU KNOW - a landlord can only take a total of 2 months deposit. You can call it a security deposit, pet deposit, rainy day deposit. Call it whatever you want, but the landlord cannot take more than 2 months. And, by the way, if the renter is 62 or older the landlord can only take a 1-month security deposit. Check it out at:

 
3. DID YOU KNOW - sellers have begun putting cameras and recorders in their home. They are supposed to post a sign that the buyer sees as they enter the house.   As a 'best practice', you may want to let your buyer know not to discuss the property while in the house. Hold your conversation until you get outside.

 
That's all for now. Best wishes and sell lots of homes!

GIVING BACK

"We make a living by what we get, but we make a life by what we give." - Winston Churchill



JOIN US FOR COCKTAILS, APPETIZERS & AN EVENING OF GIVING BACK

Over the years the MFCAR Giving Back Committee has raised funds for the Norwalk River Valley Trail and purchased generators for Clasp Homes. Our mission is to continue to raise money to help various local charities.

We hope you'll join us for a night of fun, food, drinks, networking and most importantly "Giving Back"!

Wednesday, April 25, 2018
5:00 PM - 7:30 PM
Rizzuto's Restaurant & Bar
540 Riverside Avenue, Westport, CT 06880

$25.00 Per Person - Inclusive of Custom Appetizer Buffet 
& Two Drink Tickets

Chinese Auction $10.00 (arm's length of raffle tickets)

Online registration preferred by clicking the button below.



Generously Sponsored By:


ETHICS CORNER

Code of Ethics and 
Arbitration Manual  2016

Case #1-12: Presentation of Subsequent Offers After an Offer to Purchase Had Been Accepted by the Seller (Adopted November, 1987 as Case #7-16. Transferred to Article 1 November, 1994.) 

REALTOR® A, the listing broker, presented an offer to purchase to his client, Seller X, which was $20,000 less than the property's listed price. The property had been on the market for several months and had not generated much interest. In his presentation, REALTOR® A told Seller X that, in his opinion, the offer was a good one and Seller X should consider accepting it. "With interest rates on their way up again," said REALTOR® A, "properties are just not moving the way they did six months ago." Seller X decided to accept the offer and the transaction closed. Several months after the sale, Seller X filed a complaint against REALTOR® A alleging a violation of Article 1, as interpreted by Standard of Practice 1-7. It had come to Seller X's attention that a second offer had been made on the property after Seller X had accepted the first offer but prior to closing. This second offer, alleged Seller X, had not been submitted to him by REALTOR® A and was for $2,500 more than the first offer. Seller X's complaint stated that by not presenting the second offer to him, REALTOR® A had not acted in his (the seller's) best interest, as required by Article 1. 

At the hearing, REALTOR® A produced a copy of the listing contract, which contained a provision reading: "Seller agrees that Broker's responsibility to present offers to purchase to Seller for his consideration terminates with Seller's acceptance of an offer." REALTOR® A told the Hearing Panel that he had explained this provision to Seller X at the listing presentation and that Seller X had agreed to it, as indicated by Seller X's signature on the listing contract. 

Seller X admitted that he had understood and agreed to the provision at the time he listed the property, but he felt that REALTOR® A should have advised him of the second, higher offer nonetheless. 

The Hearing Panel found REALTOR® A not in violation of Article 1. In their decision, the panel noted that REALTOR® A had explained the contract provision relieving him of the obligation to submit subsequent offers to Seller X; that Seller X had agreed to the provision and had signed the listing contract; and that, while it was unfortunate that Seller X had received less than full price for the property, REALTOR® A had fulfilled his obligations under the listing contract once the first offer to purchase had been accepted by Seller X.

Birchwood Country Club Annual REALTOR® Open House

To register email: reservations@birchwoodcc.org


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
 
Ethics
Mandatory CE Class
Instructed by Terry Hastings
April 18, 2018
9:30 AM - 12:30 PM
CLASS IS FULL
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
Mandatory CE Class
Instructed by Terry Hastings

May 18, 2018
9:30 AM - 12:30 PM
NEW DATE 

For clarification on if you have to take CE Classes -  Click here for CE requirements   
  •  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.

For clarification on if you need to take Ethics -  Click here for NAR Mandatory Ethics requirements 

A new two-year cycle began January 1, 2017. The deadline for this cycle is December 31, 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. 
 
March: 20% off! Enter March 20 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)

May 20% off! Enter May20 at checkout to receive discount
(runs 5/1/18 - 5/31/18


 
New Members
FEBRUARY 2018

Affiliate Members
Total Affiliate Members - 37


New REALTOR® Members
Total REALTOR® Membership - 1119

 
Andriopoulos, Nicholas
Wm. Pitt
Wilton
Bayer, Alexander
Wm. Raveis
Westport
Easton, Stephen
Higgins Group
Stamford
Guest, Clare
Douglas Elliman
Greenwich
Osa, Guy
Castleton Realty
Fairfield
Rich, Audrey
Bondi Realty Group
Norwalk
Rosen, Jennifer
Bondi Realty Group
Norwalk
Walsh, Courtney
Wm. Raveis
Westport
Witt, Athena
Douglas Elliman
Greenwich
Zafar, Shahzad
Berkshire
Norwalk
        
                      
                                                              
Market Trends

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

TOWN
UNITS
Average/ Median 
Market Time  
Norwalk
69
80/40
Weston
24
143/92
Westport
43
88/62
Wilton 
27
128/81
Fairfield 
70
108/52

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

TOWN
UNITS
Average/Median 
Market Time
Norwalk
53
93/60
Weston
12
284/237
Westport 
42
240/164
Wilton 
11
131/131
Fairfield 
55
134/67
  
 
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, - March 26, 2018 & January - December '17 , according to the CMLS.