Hello Vail Board of Realtors,   This will be the first installment of will be an ongoing report to membership after any member of Leadership attends a conference. We want YOU to benefit from what we learn! Please reach out to me if you have questions about any of the included content, or have comments. Best, Crissy Rumford Chair

Date of conference:  Title of conference: Location:  Who Attended:

April 11-13, 2018 Region 11 Leadership Conference Albuquerque, New Mexico Crissy Rumford, Chair and Erica Kirk, Association Executive, plus Association Executives and Leadership from Colorado, New Mexico, Utah, Nevada, Arizona and Wyoming.

Legal Issues of Note

Forming and/or being a member of a “TEAM”: ● Be careful about what you ask of an Independent Contractor. Employers (team lead and members) can require results of other team members, but cannot control or dictate how a team member goes about getting those results because of the Independent Contractor status. State business license must be in the name of the team lead as managing broker. Clearly define the relationships with each member, in writing! Have a dissolution clause, how leads are distributed and commissions are calculated. ● Sellers Property Disclosure/death on the property- must be disclosed if asked. No exceptions! Technology/cameras: Must disclose audio. At least one party must have knowledge that of being recorded/monitored. Suggest putting it in the listing agreement and getting consent from seller to disclose since it is a  NEW REQUIRED FIELD in our MLS. Reminder: Please update this field in all older listings. If only video is being monitored, no disclosure is necessary. ● Recommend that your Sellers consider upping their insurance coverage. An $8 increase in their premium could give them an additional $150,000-$200,000 in coverage. The number one lawsuit for homeowners involves dog bites. If possible, remove dog from premises, or make sure they are adequately contained. Seller financing is involved in $10 million worth of unbanked homes in the US. Keep this as an open option for your Buyers and Sellers.

Exciting News!

The Park City, Utah Board of Realtors have been collaborating with the VBR to develop a “forum” for Board Members to share successes, challenges and act as an information exchange .  Your Board of Directors approved this forum this week and we will be working with them to develop it in the coming month. We are starting small with 7 or 8, similar resort markets. This will not be a source of “data exchange” (although it could grow to include that   at some point) but will be an interactive “board” to post questions and get feedback from other resorts within Region XI. There will be no additional cost to the board for this forum, as we will schedule meetings during conferences that we are already attending, will not have formal agendas or dues.

Advocacy

Go to the website below for a detailed explanation on these topics that NAR is working on: ● The National Flood Insurance Program (NFIP) ● HELOC Mortgage Interest Deduction, clarification from the IRS Fair Housing reform  ● Healthcare for Associations (as it pertains to the 1.3 million Real Estate professionals)

Click for info on NAR Advocacy

Conference Keynote Speakers

Nobu Hata Ask your Buyers and Sellers, “You had a choice when selecting an agent…why did you choose me?” This is not only good for testimonial purposes, but could provide important feedback for your future.

Evan Fuchs Posed the question: “How you would design your business today if you were just starting in Real Estate? Consider how technology has changed since you became a Broker and what you could do differently today if you were just getting your license? Then, consider implementing those changes.”

Holly Mabery “Connect on a higher level with your clients. This means really digging deep to ask what your clients want. Once you know, paint that picture in vivid detail and play it back to them so they remember that you are the ONLY Broker who fully understands what they want.”

Leigh Brown “Pair down your focus to your most important 150 contacts, no more. Spend more quality time on fewer people and work more efficiently. Make sure you are putting all your efforts into the contacts who will always have your back- those are ‘your people!’”