VOLUME: 6 • ISSUE 41 • NOVEMBER 2012 RE/MAX Professionals INSIDER Newsletter Frank Russo Designated Broker 7111 W. Bell Rd. Suite 101 | Glendale, AZ | 85308 prominent than the company affiliation. You cannot pay an attorney, or anyone else, to refer you business unless they have a Real Estate license and are employed by a Broker. Then you may pay a referral fee to that entity. As I mentioned last month, property management is an ongoing challenge to ADRE. There has been a recent change in their terminology. Previously they used a term “co-mingling” if trust funds were combined with operating or personal funds. Now they call it FRAUD. Please do not, under any circumstances, think it is OK or harmless to manage a property without a trust account and a management agreement. Contact Vern Stevens at our Arrowhead South office and he will handle all of your personal and client property management needs. I believe he will even pay you a referral fee. Vern’s contact number is 602-397-2243 When you show a property, save the printout electronically or the physical paper. Place the printout in Dropbox or an email folder labeled for that client. It is amazing how much they can change between showing and closing. We, as a company, strongly suggest the use of the Buyer Broker Agreement. Turn in this agreement as you would any other document at the time of signing. We have a group of the finest Realtors on the planet and it makes me proud to have discussions with our boss, Judy Lowe. She always compliments our entire company. Hats off to all of you! Have a great month! - Frank Russo Once again it was truly a pleasure to spend time with our Real Estate Commissioner, Judy Lowe. She attended a broker luncheon business meeting as a special guest. The following are some of the items that were discussed and the information she delivered. There are approximately 91,000 licenses in Arizona. • 60,000 are active • 20,000 are inactive • 10,000 are expired but in the grace period • 41,000 are Realtors Three-plus years ago when Judy was appointed as Real Estate Commissioner, there were 957 open complaints at the department. Today, there are 81 and she has half the staff that her predecessor had. We could all have a take-away here. Efficiency and systems were the key to turning this around. If you are working on a team, disclose all team members on the listing contract. This also needs to include a transaction coordinator if you are using one. Along this same line, if you are marketing a team, you no longer need to register the team name with the Department of Real Estate. You must, however, disclose in the ad anyone who is not licensed. The team ad cannot be more
Transcript
VOLUME: 6 • ISSUE 41 • NOVEMBER 2012
RE/MAX Professionals INSIDER Newsletter
Frank RussoDesignated Broker
7111 W. Bell Rd. Suite 101 | Glendale, AZ | 85308
prominent than the company affiliation. You cannot pay an attorney, or anyone else, to refer you business unless they have a Real Estate license and are employed by a Broker. Then you may pay a referral fee to that entity.
As I mentioned last month, property management is an ongoing challenge to ADRE. There has been a recent change in their terminology. Previously they used a term “co-mingling” if trust funds were combined with operating or personal funds. Now they call it FRAUD. Please do not, under any circumstances, think it is OK or harmless to manage a property without a trust account and a management agreement. Contact Vern Stevens at our Arrowhead South office and he will handle all of your personal and client property management needs. I believe he will even pay you a referral fee. Vern’s contact number is 602-397-2243
When you show a property, save the printout electronically or the physical paper. Place the printout in Dropbox or an email folder labeled for that client. It is amazing how much they can change between showing and closing.
We, as a company, strongly suggest the use of the Buyer Broker Agreement. Turn in this agreement as you would any other document at the time of signing.
We have a group of the finest Realtors on the planet and it makes me proud to have discussions with our boss, Judy Lowe. She always compliments our entire company.
Hats off to all of you! Have a great month!
- Frank Russo
Once again it was truly a pleasure to spend time with our Real Estate Commissioner, Judy Lowe. She attended a broker luncheon business meeting as a special guest. The following are some of the items that were discussed and the information she delivered.
There are approximately 91,000 licenses in Arizona. • 60,000 are active • 20,000 are inactive • 10,000 are expired but in the grace period • 41,000 are Realtors
Three-plus years ago when Judy was appointed as Real Estate Commissioner, there were 957 open complaints at the department. Today, there are 81 and she has half the staff that her predecessor had. We could all have a take-away here.
Efficiency and systems were the key to turning this around. If you are working on a team, disclose all team members on the listing contract. This also needs to include a transaction coordinator if you are using one.
Along this same line, if you are marketing a team, you no longer need to register the team name with the Department of Real Estate. You must, however, disclose in the ad anyone who is not licensed. The team ad cannot be more
Steve Padilla 14yrs. SW ValleyClaudia Artz 12yrs. SW ValleyCara McGuire 11yrs. Arrowhead SouthMarion McGuire 11yrs. Arrowhead SouthChris Zubrycki 11yrs. Arrowhead NorthDiane Barnes 9yrs. Sun City WestCarl Phillips 8yrs. Arrowhead NorthFrank Fox 8yrs. NW ValleyTamara Wilson 7yrs. Arrowhead NorthRon Roberts 7yrs. AnthemPolly Brown 6yrs. Sun City WestJason Campagna 5yrs. Arrowhead NorthChad Fairchild 3yrs. Arrowhead NorthJake Wright 3yrs. Arrowhead SouthMike Klackle 3yrs. SW ValleyJim Scott 2yrs. Arrowhead SouthHolly Haia 2yrs. SW Valley
available. PMMS data is provided “as is,” with no warranties of any kind, express or implied, including, but not limited to, warranties of accuracy or implied
REV 10/12
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Information is accurate as of date of printing and is subject to change without notice. Wells Fargo
Mortgage rates remain near historic lowsIf you’ve been waiting to buy a home, now may be the time to take action
Mortgage rates are near historic lows, making today a particularly good time to consider a home purchase or a refinance of your existing mortgage loan.
The average origination fee for a loan of this size would have
not include other closing costs. One point is one percent ofthe loan amount.
This monthly payment amount does not include property taxor homeowner’s insurance, which must be paid in addition to
be higher. The rate, points, APR, and payment amount arebased on the most recent monthly average from Freddie
oered by Wells Fargo Home Mortgage during that month.
David PinedaSales Manager P: 602-703-8123 [email protected] ID: 473029
Mountainside lots provide panoramic views of the city as well as the majestic mountains of our Arizona desert. When looking for a home and considering a remodel, permits may be needed, both inside and outside, to complete the project.
Wally Knipp of Knipp Contracting explains the legal aspects of acquiring the properpermits. Visit YouTube online under Knipp Construction for a video. As a homeowner, looking at a hillside lot, extra cost should be factored. Watch as Wally explains what process Knipp Contracting had to take for this hillside lot.
24654 N Lake Pleasant Prkwy #103-139 Peoria, AZ 85383P: 623-561-0803 • E: [email protected]
-Wendy Knipp
Thank you everyone who particiapted in
the walk and also those who donated
to help make a difference.
When remodeling a home, it is important to look at the surrounding area. In the YouTube video example, Wally explains why a hillside permit is needed. The ramifications that occur when the permit is not obtained could cost the homeowner time and money. Understand the total cost so that you, as the homeowner, can make an educateddecision. The lot pictured above has breathtaking city and mountain views. After theremodel, this home will be the envy of the neighborhood and the proper permits had been obtained. If you are unsure about which permits are needed, contact a contractor. Ensure you will be able to resell your home when the time comes.
What PERMITS Do I Need?
Thank you to everyonewho participated and to our
Pumpkin Carving Winners!
RE/MAX ProfessionalsPumpkin Carving Contest
6th Annual
1st Place Winner: Burger Pumpkin: Randy Lewis Team
2nd Place Winner: Presidential White House Pumpkin:Surprise Team
3rd Place Winner: Jack in the Box Pumpkin: Russo Team
7111 West Bell Road. Suite 101Glendale, Arizona 85308Each office is independently owned and operated
Professionals
RE/MAX Professionals Newsletter is created and distributed on a monthly basis. All rights reserved. If you would like to submit an article or advertise in our newsletter, email Carol Murr at: [email protected]
