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MFCAR Upcoming Events
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
9:30 AM - 12:30 PM -
Norwalk Inn & Conference Center
99 East Avenue, Norwalk, CT 06851
28 - Memorial Day - Board Office Closed
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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!
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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.
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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.
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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.
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CE Connection
MFCAR 2018 CE Class schedule
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
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Fair Housing
Mandatory CE Class
Instructed by Terry Hastings
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May 16, 2018
9:30 AM - 12:30 PM
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Mandatory CE Class
Instructed by Terry Hastings
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May 18, 2018
9:30 AM - 12:30 PM
NEW DATE
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- 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.
A new two-year cycle began January 1, 2017. The deadline for this cycle is December 31, 2018.
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Online Classes
Sign up for online classes through the CE SHOP. Not only will you get a discount but you'll also support MFCAR.
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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
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New Members
MARCH 2018
Total Affiliate Members - 37
TAYLOR, BRETT
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ESSENTIAL WINE SERVICES, LLC BROOKLYN NY
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Total REALTOR® Membership - 1126
ANDERSON, STEVEN
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HIGGINS GROUP, WESTPORT
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ARBELLO, JAMAR/DR
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J AARON INVESTMENTS, NORWALK
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CROWLEY, STEVE
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SCA CROWLEY R.E., WESTPORT
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GEFEN, MICHAEL
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HIGGINS GROUP, WESTPORT
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GULICK, STEVEN
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WM. RAVEIS, NORWALK
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LESCH, JEANNE
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HIGGINS GROUP, WESTPORT
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LUGO, BIANCA
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BERKSHIRE, NORWALK
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MARTENS, CHRISTOFER
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OUTLOOK REALTY, NORWALK
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MCCONNAUGHEY, KATHERINE
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WM. PITT, WESTPORT
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POTACK, JULIA
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COLDWELL BANKER, WESTPORT
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PRESTON, LUKE
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RNEI R.E., NORWALK
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QUINN, KARA
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WM. RAVEIS, WILTON
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REIS, DAVID
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EXP REALTY, W.HARTFORD
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RODRIGUES, ANGEL
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WM. RAVEIS, NORWALK
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SAWICKI, MIRTA
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COLDWELL BANKER, WESTPORT
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SOUTHWORTH, FRANCES
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RIVERSIDE REALTY GRP, WESTPORT
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STEIN, AMY
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HIGGINS GROUP, WESTPORT
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STEWART, KRISTINA
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OUTLOOK REALTY, NORWALK
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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
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UNITS
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Market Time
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Norwalk
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74
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66/40
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Weston
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16
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188/108
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Westport
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32
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105/70
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Wilton
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28
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88/61
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Fairfield
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83
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87/50
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Pending (Deposit) Listings:
Single Family Home
s
For: January 1, - April 23, 2018
TOWN
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UNITS
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Average/Median
Market Time
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Norwalk
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50
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83/47
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Weston
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14
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233/110
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Westport
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48
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147/79
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Wilton
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17
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159/88
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Fairfield
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70
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148/61
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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.
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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.
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RECYCLING EVENT TO BENEFIT THE SUNSHINE KIDS FOUNDATIONS
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