“The conference was dominated by meetings and discussions on flood insurance. In addition to attempts to delay the rate increases already in place, there is an effort at the State level to encourage private insurance companies to enter the floor insurance market in Florida. Unfortunately for us there are no requirements being considered to do business in all counties.
The District 4 Conference coming up at the end of May was the topic of planning meetings. Some great educational sessions including a track developed by the Miami YPNers are planned. There will be a commercial lunch meeting to offer information and idea exchange between Miami and The Keys.”
-Doug Mayberry, KWAR President & REALTOR® Broker
Doug Mayberry Real Estate
“The Legal Update by Florida Realtors Attorneys Margy Grant, Marcia Tabak, Donna Ryan and Joel Maxson was outstanding. Among many issues discussed the new FCC rule is a must know for all Realtors. New FCC rules on ROBO calls; effective Oct. 2013. Pertains to all phone numbers land/wireless (even if the phone number is not on a National Do Not Call) the new rule requires telemarketers obtain express, unambiguous written consent before placing a ROBO call. This impacts Realtors & Realtor Associations telemarketing calls.
The Florida Realtors Flood Insurance toolkit is a must have for flood insurance information. http://www.floridarealtors.org/LegislativeCenter/Flood-Insurance-Toolkit.cfm
Both Doug and I met Joy Duperault, CFM, National Flood Insurance Program Manager and Jay Neal JD, MBA, Florida Association For Insurance Reform after their respective presentations at the Insurance Subcommittee meeting. Both individuals are at the forefront of the Flood Insurance issue and are well aware of its potential economic impact to Florida.
I attended the Core Law continuing education class featuring Chuck Bonamer. He provided a legal overview of Florida Real Estate License Law, State & Federal Laws Affecting Real Estate and Federal Taxes. He is a great instructor. Keeps the class moving and interesting.”
-Terri Wilson, KWAR President Elect & REALTOR®
“Flood insurance, flood insurance, flood insurance!!! I learned an abundance attending a subcommittee and they explained flood base lines and elevation certificates and gave information on biggest waters that was interesting and what is being done to change it in Tallahassee
Also the CRS which I want to discuss with Mark Rossi which is a system designed to give communities discounts on premiums based on easy things like being informative and handing out flyers through real estate closings to inform consumers of important flood guidelines. Robo call new laws and property management the committee is looking into an issue about property managers and duties under their license in regard to working outside a broker’s office and collecting escrows, etc.
Also the issue of commission in MLS for leases not being clear if you rent for 6 months opposed to a year if the commission is 1/2 and if you enter .5 what does it actually mean. MLS advantage is amazing!!! Forms simplicity design capability for an affordable annual amount is amazing. Even if you come back with one new issue learned it’s worth the trip. The fact that less than 10 people attend these conferences with all the REALTORS we have is sad. RPAC auction was great and we need to do something like that here since all money goes toward your RPAC contribution.”
-Jaime Caballero, REALTOR® Broker
Key West Vacation Properties & Realty
“The Equal Credit Opportunity Act has been revised and now requires lenders to provide a copy of the valuation/appraisal to the buyer within three days of receiving it. This applies for commercial properties too unless the property is only land. If the realtor provides a BPO to the Lender, the lender must provide it to the buyer, however, the buyer can waive this right to receive the BPO, except in a high risk transaction.
There is a YPN Road Rally on October 16-18
Seller financing is ok only if it is the only one within 12 months and: they are not an LLC, no negative amortization, fixed rate or reasonable ARM, the seller is a “natural person” meaning not a trust, builder, or contractor.
One in 5 houses purchased in Florida is purchased by an international buyer. The international buyer spends $100K more when buying a home (as compared to the average selling price of an area). Germans, Canadians, Venezuelans, & Brazilians are top International buyers.
Great American Realtor’s Day is March 19, 2014″
-Lynnessa Wilson, REALTOR®
Engel & Völkers Florida Keys