April 
2018

I SSUE
No. 4
 The Mid-Fairfield Record

 Click to  Visit MFCAR.COM

MFCAR Upcoming Events
APRIL:

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

MAY:

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

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

9:30 AM - 12:30 PM -  Norwalk Inn & Conference Center  99 East Avenue, Norwalk, CT 06851

28 - Memorial Day - Board Office Closed
President's Update

Education has always been very important to me and essential in my day to day business. These days there are so many ways to stay informed and on top of my business. I spoke last month about signing up for the Inman Newsletter. There are also conferences that you can attend that are amazing. A couple of my favorites are Inman Connect (held in January in NYC) and the NAR Conference and Expo (held in November). With that in mind:
 
DID YOU KNOW - that Blockchain is being used in Real Estate transactions. At the last NAR Conference, a panel of Blockchain experts explored every angle of what Blockchain is, how it works and how it will be utilized in the real estate industry. 
 
DID YOU KNOW - that Bitcoin is now being used to purchase homes. At the last Inman Connect a panel discussed how it worked, what were the pitfalls, and what we as agents should know in order to ensure a smooth transaction for your seller.
 
DID YOU KNOW - that the NAR Conference and Expo will be in Boston this year? This is the first time it will be held in Boston, and it's a great time to check out all the wonderful classes they hold every year. Any subject you can think of will probably be covered. A few years ago, one of the hot topics was legalized marijuana and the impact to the rental market. It was eye opening and extremely informative as more states discuss legalization.
 
Registration will begin soon. I hope to see you there!


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

GIVING BACK

LAST CHANCE TO REGISTER AS EVENT IS TOMORROW EVENING!

"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

Case #2-14: Time at Which Modification to Offer of Subagency is Communicated is a Determining Factor (Revised Case #9-26 May, 1988. Transferred to Article 2 November, 1994. Cross-reference Case #3-7.)

REALTOR® A listed Seller X's home and filed the listing with the MLS. The property data sheet indicated the compensation REALTOR® A was offering to the other Participants if they were successful in finding a buyer for Seller X's home. 

During the next few weeks, REALTOR® A authorized several Participants of the Multiple Listing Service, including REALTOR® C, to show Seller X's home to potential buyers. Although several showings were made, no offers to purchase were forthcoming. REALTOR® A and Seller X, in discussing possible means of making the property more salable, agreed to reduce the listed price. REALTOR® A also agreed to lower his commission. REALTOR® A changed his compensation offer in the MLS and then called the MLS Participants who had shown Seller X's property to advise them that he was modifying his offer of compensation to cooperating brokers. Upon receiving the call, REALTOR® C responded that he was working with Prospect Z who appeared to be very interested in purchasing the property and who would probably make an offer to purchase in the next day or two. REALTOR® C indicated that he would expect to receive the compensation that had been published originally in the MLS and not the reduced amount now being offered to him, since he had already shown the property to Prospect Z and expected an offer to purchase would be made shortly. REALTOR® A responded that since Prospect Z had not signed an offer to purchase and no offer had been submitted the modified offer of compensation would be applicable. 

The following day, REALTOR® C wrote an offer to purchase for Prospect Z. The offer was submitted to the Seller by REALTOR® A and was accepted. At the closing, REALTOR® A gave REALTOR® C a check for services in an amount reflecting the modified offer communicated to REALTOR® C by phone. REALTOR® C refused to accept the check indicating that he felt REALTORS® A's actions were in violation of the Code of Ethics. REALTOR® C filed a complaint with the Board's Grievance Committee alleging violation of Articles 2 and 3 on the part of Realtor® A citing Standard of Practice 3-2 in support of the charge. 

During the hearing, REALTOR® C stated that REALTOR® A's modification of the compensation constituted a misrepresentation through concealment of pertinent facts since he had not provided REALTOR® C with specific written notification of the modification prior to the time REALTOR® C began his efforts to interest the purchaser in the listed property. REALTOR® A defended his actions by indicating that timely notice of the modification of compensation offered had been provided to REALTOR® C by telephone prior to REALTOR® C submitting a signed offer to purchase. REALTOR® A also indicated that his modified offer of compensation had been bulletined to all Participants, including REALTOR® C, through the MLS in accordance with Standard of Practice 3-2 prior to the time that REALTOR® C had submitted the signed offer to purchase.

REALTOR® A also commented that had REALTOR® C submitted the signed offer to purchase prior to REALTOR® A communicating the modified offer, then REALTOR® A would have willingly paid the amount originally offered. Based on the evidence presented to it, the Hearing Panel concluded that REALTOR® A had acted in accordance with the obligation expressed in Standard of Practice 3-2 based on changing the offer of cooperative compensation in the MLS alone, even without the courtesy phone calls, and consequently was not in violation of Articles 2 or 3.

MARK YOUR CALENDAR - MAY GENERAL MEETING

Mid-Fairfield County Association of REALTORS® 
General Meeting Breakfast

Legal Advice On Avoiding Litigation & Liability for 
Successful R eal Estate Transactions



Wednesday, May 23, 2018 ~ 9:30 AM - 12:30 PM

Norwalk Inn & Conference Center
99 East Avenue, Norwalk, CT 06851

MFCAR MEMBERS: $15.00
NON-MEMBERS: $25.00


  • Nathaniel Shipp - First time seller/buyer stumbling blocks ~ Contract contingencies, calendar days or business days - Saturday's/Sunday's, definitions and setbacks - False, misleading and non-disclosure of material facts, Buyer and seller representation
  •  Lisa Gioffre-Baird - Differences in contracts contingencies, challenges in buying/selling from one state to another NY/CT to identify.  
  • Lucas Hernandez - Purchasing at auction/online, who pays transfer tax, hidden surprises buyers face, use sellers contract vs. offer to purchase ~ Foreclosure and estates sales, selling a home after a relative dies.
  • David Baghdady - Wire transfer fraud ~ Titles searches,  Municipal and local, flags to indicate title searches should be done prior to marketing for sale.
  •  Toni Morton - Do's and Don'ts Residential Leases ~ Tenant screening/ criminal record rights/credit reporting disclosure rights.

CE Connection

MFCAR 2018 CE Class schedule


  

To register by fax or mail print  this registration form

Reminder registration is not complete until payment is received. 

No Refunds
 
Residential Construction Practices
Elective CE Class
Instructed by Tiger
April 25, 2018
9:30 AM - 12:30 PM
CLASS IS FULL
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. 
 

40% SALE TOMORROW ONLY - APRIL 25TH 


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
MARCH 2018

Affiliate Members
Total Affiliate Members - 37

TAYLOR, BRETT
ESSENTIAL WINE SERVICES, LLC
BROOKLYN NY  



New REALTOR® Members
Total REALTOR® Membership - 1126

ANDERSON, STEVEN                        

HIGGINS GROUP, WESTPORT
ARBELLO, JAMAR/DR
J AARON INVESTMENTS, NORWALK
CROWLEY, STEVE
SCA CROWLEY R.E., WESTPORT
GEFEN, MICHAEL
HIGGINS GROUP, WESTPORT
GULICK, STEVEN
WM. RAVEIS, NORWALK
LESCH, JEANNE
HIGGINS GROUP, WESTPORT
LUGO, BIANCA
BERKSHIRE, NORWALK
MARTENS, CHRISTOFER
OUTLOOK REALTY, NORWALK
MCCONNAUGHEY, KATHERINE
WM. PITT, WESTPORT
POTACK, JULIA
COLDWELL BANKER, WESTPORT
PRESTON, LUKE    
RNEI R.E., NORWALK
QUINN, KARA
WM. RAVEIS, WILTON
REIS, DAVID
EXP REALTY, W.HARTFORD
RODRIGUES, ANGEL
WM. RAVEIS, NORWALK
SAWICKI, MIRTA
COLDWELL BANKER, WESTPORT
SOUTHWORTH, FRANCES
RIVERSIDE REALTY GRP, WESTPORT
STEIN, AMY
HIGGINS GROUP, WESTPORT
STEWART, KRISTINA
OUTLOOK REALTY, NORWALK
                            
                                                           
Market Trends

The following are statistics taken from SMART MLS records. 
                      
Continue to Show Listings
Single Family Homes 
  For: March  1 - April 23 , 2018

TOWN
UNITS
Average/ Median 
Market Time  
Norwalk
74
66/40
Weston
16
188/108
Westport
32
105/70
Wilton 
28
88/61
Fairfield 
83
87/50

Pending (Deposit) Listings:
 
Single Family Home s
For: January 1, - April 23, 2018

TOWN
UNITS
Average/Median 
Market Time
Norwalk
50
83/47
Weston
14
233/110
Westport 
48
147/79
Wilton 
17
159/88
Fairfield 
70
148/61
  
 
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, - April 23, 2018 & January - December '17 , according to the CMLS.

REMINDER TO VISIT FIG LINENS & HOME FOR YOUR CLOSING GIFTS FOR YOUR CLIENTS.
 
Fig Linens and Home, a Luxurious Bedding and Home Décor Boutique in downtown Westport, now offers a REALTOR® Discount on all closing gifts for your clients!

Simply bring your business card to the store for a  20% discount  on all of our home goods including throws, pillows, towels, sheeting, bathroom accessories, faux fur items and much more.

Fig is located near the bottom of Main Street  across from Bedford Square at 66 Post Road East. You may also visit our website at  figlinensandhome.com , choose your closing gift and give us a call at 203-227-8669 to place your discounted order providing appropriate credentials. 

RECYCLING EVENT TO BENEFIT THE SUNSHINE KIDS FOUNDATIONS