2020 Production Award Newspaper Insert

We have already made some big changes to the REALTOR® Awards Gala this year including changing how we sell our gala tickets and moving the 2019 Production Award Applications online— and we aren’t done yet!

Rather than offering a printed program at this year’s event, BRR will instead be purchasing a 16-page insert through the Idaho Press that will include the names of our Top Producers and Individual Award Winners, Sponsor Ads, and consumer content such as market reports and elements from the NAR “That’s Who We R®” campaign. To see a sample of the type of insert we have planned, please click here.

This insert will reach upwards of 40,000 Treasure Valley residents through the Idaho Press, Meridian Press, the Kuna Melba News, and the Emmett Messenger, providing recognition for the hard work of our members and promoting the value of REALTORS® to our community.

For those who would still like a keepsake to remember the event, don’t worry! Advanced copies of the insert will be available at the event following the presentation of the awards

What better way to celebrate our member’s achievements and the services of our amazing affiliates than to share them with the community we serve!

If you have questions about the new Production Award Newspaper Insert or if you are interested in purchasing ad space, please contact Marind Amano.

Code of Ethics Pop Quiz: Temporarily Off-Market Listings

Code of Ethics Pop Quiz: Temporarily Off-Market Listings

Question

You receive a call from an out of town buyer who would like to see one of your listings, but is only in town for a couple of days. However, you recently re-listed the home they would like to see as “Temporarily off-market” in the MLS and it won’t be “active” again for another 2 weeks. Do you let them see your listing now or tell them to wait?

A.) The buyer has to wait. However, you’ll work to schedule them an appointment to see the listing when it is active again and, in the meantime, you will search for other listed and unlisted homes that might fit their needs and that are available for showings.

b.) You show the home. It will be active again soon anyway and no one has to know.

c.) You show the home but you won’t accept an offer until it is officially active again.

 

Answer

If you answered A, then you are correct!

Our Code of Ethics states that REALTORS® shall not misrepresent the availability of access to show a listed property. In this case, allowing access to a temporarily off-market listing would be considered misrepresentation because the agent knows that MLS rules prohibit show non-active listings. 

 

What does the National Association of REALTORS® Code of Ethics say?

Article 3, section 8 states that, “REALTORS® shall not misrepresent the availability of access to show or inspect a listed property.”

Showing temporarily off-market listings is not only an ethical concern, it violates the rules and regulations laid out by our local MLS.

Section 1.5.1 of IMLS Rules and Regulations states:

“A Temporarily Off Market listing is one that becomes unavailable for showing during the listing term of the contract. In order to place a listing in the Temporarily Off Market status, the seller’s authorization is required and must be input into to the MLS within one business day. The Agent Remarks section must disclose the date on which the property will become available for showing again, or why it will not be returning to an active status.

During the Temporarily Off Market time period, no showings of the property are permitted by any licensed agent including the Listing Agent, Listing Broker and/or any Agent affiliated with the Listing Brokerage firm… When the Temporarily Off Market time period has expired and the listing becomes available for showings again, the listing must be transferred to an Active status on the date that it can first be shown.”

Violating this rule could result in a $500 fine.

Additional Resources on Article 3:

 IMLS Rules and Regulations

HouseCheck’s Annual Gala

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HouseCheck Foundation's Annual Gala is Nov. 1!

HouseCheck’s Annual Boise Gala Benefiting Victims of Domestic Abuse
Set for November 1.

Domestic Abuse is a complex subject that is often overlooked in modern society because many victims don’t – or can’t – reveal the problem to others, usually out of fear of reprisal.

The insidious “secretive’ nature of domestic abuse makes it difficult to gather accurate statistics, but the Family Violence Prevention Fund estimates that between 1.5 million and 3.9 million women are physically abused every year in the U.S. alone. In the last National Census, Domestic Violence Services reported that 67,646 victims were served by various domestic violence programs in the U.S. in a single day.

Domestic abuse impacts men, women, and children of all ages, income levels, and educational backgrounds. In addition to physical abuse, these individuals often suffer from various forms of emotional trauma, including depression, anxiety, and social isolation. Abusers routinely see to it that their targets have very limited resources at their disposal, prompting those affected to feel trapped within the abusive environment with no hope of finding a way out.

HouseCheck is committed to helping.

In 2016, a Boise-based start-up company called HouseCheck established a non-profit foundation to help eliminate domestic abuse.

The HouseCheck Corporation is a national home inspection, data, and real estate technology company whose philosophy is to protect the value, health, and safety of the home and those within it. This philosophy led the founder of HouseCheck Corporation to establish the HouseCheck Foundation as a social service agency partner within local communities to help stop the cycle of domestic abuse.

The foundation’s mission, using a grassroots approach, is to develop a collaborative and robust integrated system of protective and preventive services that assist all individuals affected by abuse within the household. To accomplish this, the HouseCheck Foundation raises and grants funds for local groups and organizations that have a proven track record of helping individuals and families impacted by domestic abuse.

Boise fundraising gala on November 1, 2019.

The HouseCheck Foundation’s Boise Chapter will host its annual gala on November 1, 2019, at the Galaxy Events Center in Meridian, Idaho.  Festivities will include speakers, live and silent auctions, testimonies from those who have escaped the trap of domestic abuse, a delightful dinner, and much more.

For information on the HouseCheck Foundation, or on the HouseCheck Foundation Gala on November 1 (including opportunities for attendance, sponsorship, or donation of items to be auctioned), visit HouseCheckFoundation.org.

Professionalism Award Recipients

BRR's Professionalism Award

BRR’s Professionalism Award is an impartial, peer-to-peer based program that recognizes REALTOR® members for their professional and ethical behavior during transactions. BRR REALTOR® members are able to nominate other BRR REALTOR® members for outstanding professionalism anytime throughout the year.

Award Recipients are nominated and approved by their peers through our awards process. Recipients are recognized on our website and on our social media accounts each quarter once they have been vetted by their peers. To learn more about this program or to submit a nomination, visit our Professionalism Award page.

 

Congratulations to our Professionalism Award Recipients!

March 2019:

  • Sydney Burtwell, Silvercreek Realty Group
  • Becky Enrico-Crum, Andy Enrico & Co. 
  • Gennie Fishburn, Boise Premier Real Estate
  • Alicia Ralston, Ralston Group Properties
  • Becky Schiebout, Keller Williams Realty Boise
  • Dawn Templeton, Templeton Real Estate Group

June 2019:

  • Tracy Brault, Silvercreek Realty Group
  • Cristine Klag, ERA West Wind Real Estate
  • Phil Mount, Amherst Madison

September 2019:

  • Tommy Smith, Keller Williams Realty Boise
  • Sean Small, Accel Realty Partners, LLC
  • Scott Latham, Group One Sotheby’s EAGLE
  • Jeremy Almeida, Keller Williams Realty Boise

Renew Your E & O Insurance Before September 30th!

Have you renewed your IREC group errors & omissions insurance yet? The policy expires at the end of the month and policies must be renewed by Monday, September 30 at 11:59 p.m. in order to avoid Idaho License Law violations and civil penalties and fines.

 

You have two options to renew your policy:

1.   Visit www.risceo.com/states/Idaho to be added to IREC’s group policy. An additional convenience fee will apply to online orders. You can also mail in your renewal paperwork and payments to Rice Insurance Services Company, LLC at P.O. Box 6709 Louisville, KY 40206. All mailed paperwork and payments must be received prior to the September 30th deadline.If you select this option, there is no need to submit any forms as RISC notifies IREC of your coverage.

2.   Obtain your own E & O Insurance policy that meets IREC’s minimum E & O policy requirements. You are responsible for ensuring that the correct proof of coverage form (REE-141 or REE-142) is submitted to the Commission.

 

Want to know your current E & O Insurance status or verify that IREC has proof of insurance? Log on to IREC’s online services and click the E & O Insurance tab.

Please direct all questions to IREC directly at 208-334-3285.

E & O INSURANCE DEDUCTABILITY:
If your broker withholds the cost for E&O insurance from your commission income and that amount is included on your 1099, you can deduct it against your income.

NOTE: Boise Regional REALTORS® and its affiliates do not provide tax, legal, accounting, or financial advice. This has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, accounting or financial advice. You should consult your own tax, legal, accounting, or financial advisers about your specific situation.

Tax Tips Every Real Estate Agent Needs to Know In Their First Year

Provided to BRR by Harris CPAs; Written by Margaret Flowers, CPA and Cheryl Row
View as a PDF

Tax Tips Every REALTOR Should KnowReal estate agents are generally paid commissions on the sales of property and receive a 1099 at the end of the year. This means that now you are considered self- employed for tax purposes and you should approach this like any business venture. This means that it is now time to keep track of your income and expenses to track the monetary success (and failures) of your new business.

Having a good system for tracking can help to ensure that you are not missing out on deductions against your income and therefore lower the amount of taxes that you pay on your income.

What kind of expenses can I deduct?

You can now deduct expenditures related to your business activities. This includes keeping track of your mileage for both business and personal use. There are several apps available to help you to track your mileage and these logs that are created will help to calculate your mileage and business use percentage. You can either deduct business mileage times the IRS authorized rate or a percentage of your actual expenses such as fuel, insurance, interest on your automobile loan, repairs and maintenance. This percentage is based on the business mileage in relation to total mileage for the year.

You can also deduct the cost of any supplies you use in your business. Do you use your computer or smartphone to post your listings on the MLS, or to scour listings for your purchasing clients? The cost of the phone or computer is deductible as well as the internet service you pay for. If you buy gifts for your clients or take them to eat while you are showing properties, these items are deductible against your income.

When you receive your commission income from your broker, many times they will withhold an amount for Errors and Omission (E&O) Insurance and other costs from your portion. It is important to ask your broker if these amounts are deducted from your income on your 1099 or if they are included on the 1099. If they are included, you can deduct them against your income.

The amounts you pay to renew your license or any organization dues are also deductible. (Note from BRR: Please see your dues invoice for specific deductibility rules.)

Do you have an office in your home that is reserved exclusively for your business activities? If so, you can deduct a portion of the mortgage interest, rent, property taxes, insurance, utilities and repairs based on the square footage of your office to the total square footage of the home.

If you purchase items for your business using a credit card, we recommend that you use one solely for business expenses. This will help keep your business expenses separate from your personal expenses and any interest paid on the credit card will also be deductible. If you mix business and personal, you cannot deduct the interest.

How much should I put away for taxes?

Since you are now considered self-employed, you will pay self-employment taxes of 15.3% of your net income. This is after your expenses. You will also pay income taxes and the amount will depend on what other income your household shows. For 2019, a single taxpayer with taxable income below $39,475 will pay 12%.

Now that you are self-employed, it is important to keep track of your financial situation as banks will ask for different documentation than in the past when obtaining funding.

There are several accounting software options available for a relatively low cost that are fairly easy to use. Also, using a bookkeeper to help keep track of your income and expenses will help to free up your time to focus on selling properties.

This content was provided by BRR’s accounting firm Harris CPAs.  It is provided here for educational and informational purposes only. It is not intended to be nor, should it be used as a substitute for tax advice regarding any specific circumstance. Every fact and situation is different and you should consult with your personal accountant before acting upon the matters discussed in this post.

 

Code of Ethics Pop Quiz: Code Enforcement

Code of Ethics Pop Quiz 5: Code Enforcement

Question

You receive notice that a professional standards complaint has been filed against you and your attendance is requested for a hearing. You believe that the complaint is completely unreasonable and think the whole hearing will be a waste of time as it will only make things worse between you and the other REALTOR® involved. Do you:

a.) Refuse to go — after all, you don’t think you did anything wrong.

b.) Go to the hearing and answer all the questions you are asked, providing full, honest testimony and elaborating only when necessary.

c.) Go the hearing and provide the committee with everything you know about this case, making sure to point out the opposing REALTOR’S® professional history and current personal troubles.

d.) Go to the hearing but only reply to questions with 1-word answers. That should move things along and maybe if they see you don’t want to be there, they will let you leave early.

 

Answer

If you answered B, then you are correct!

Our Code of Ethics requires that REALTORS® be willing participants in all professional standards proceedings, which includes providing all of the PERTINENT information to the review committee as well as not disrupting the proceedings through bad behavior. Remember, we all agree to follow this code — in good times and in bad. 

 

What does the National Association of REALTORS® Code of Ethics say?

Article 14 states that REALTORS® should always supply the review committee with all relevant information in their possession and shall not obstruct the review proceeding.

If charged with unethical practice or asked to present evidence or to cooperate in any other way, in any professional standards proceeding or investigation, REALTORS® shall place all pertinent facts before the proper tribunals of the Member Board or affiliated institute, society, or council in which membership is held and shall take no action to disrupt or obstruct such processes.”

The idea of being a willing participant in Code of Ethics misconduct hearings is also touched on in the code’s preamble, which states:

“REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®.”

If you have information about misconduct (whether yours or someone else’s), you are obligated to bring forward what you know, not to hurt others, but to protect the sanctity of the term REALTOR® and to ensure the best possible service for our clients.

Article 14 recognizes that it can be difficult to file a complaint against another colleague or feel like there might be repercussions against you for your testimony or support of an ethics hearing. With that in mind, standard 14-3 created protections for REALTORS® against retribution for their support of an ethics hearing, which includes protection again threats of action of libel or slander against the person who filed the complaint or against those who spoke at the hearings.

“REALTORS® shall not obstruct the Board’s investigative or professional standards proceedings by instituting or threatening to institute actions for libel, slander or defamation against any party to a professional standards proceeding or their witnesses based on the filing of an arbitration request, an ethics complaint, or testimony given before any tribunal.”

 

Additional Resources on Article 14:

 

Example Hearing:

Part 1: Opening Statements and Case Presentation

Part 2: Hearing Panel Calls a Recess

Part 3: Cross Examinations

Part 4: Closing Statements

Part 5: Hearing Panel in Executive Session

Part 6: BOD Reviews Decision

 

Example Appeal Process:

Part 1: Appeal Hearing

Part 2: Debriefing of the Appeal Hearing

 

John L. Scott Food Truck Rally

This post contains sponsored content and affiliate links.

John L. Scott's July 30th Food Truck Rally

Join John L. Scott on July 30th for a Food Truck Rally benefiting St. Luke’s Children’s Hospital! From 4:30 p.m. to 7:30 p.m., stop by the John L. Scott Real Estate parking lot to sample from the wide variety of food trucks parked nearby all while giving back to those in need. A percentage of all food purchases will be donated to kids in need at St. Luke’s Children’s Hospital.

Please RSVP to Morgan at 208-323-4000 or morganh@parkpointe.com.

Enrollment Fair for Families Moving into West Ada School District

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West Ada Enrollment Fair

Families moving into West Ada School District have the unique opportunity of enrolling their children in school on July 24 and 25 when the district hosts its second annual summer enrollment fair. These exclusive days offer families face time with instruction and care team providers as well as the ability to take care of registration paperwork for all of their children in one convenient location.

“Whether a family has one or multiple children in our schools, trekking all over our community during summer break, and potentially in the middle of a home move, is not ideal. This event streamlines the enrollment process for our new families and provides staff dedicated time for assisting them as they settle in,” Staci Low, summer enrollment fair organizer and director of career and technical education explained.

Families should dig out a few pieces of paperwork from their moving boxes in preparation for the event, including:

  • Original/official birth certificate or passport
  • Hard copy of immunization record with proof of required immunizations
  • Proof of address (such as current power, gas or city utilities bill, or housing contract)
  • Incoming grades 7-9 bring last report card
  • Incoming grades 10-12 bring an unofficial transcript
  • Copy of IEP/504, if applicable
  • Copy of legal custodial paperwork, if applicable

“Our school nurses, transportation and nutrition teams are available for taking information and answering questions,” Low shared. “Families may also set up their child’s learning and care plans with federal programs and special services staff, and secondary school counselors are available for preparing student schedules.”

More than 800 students enrolled in West Ada School District during the one-day event last summer. School leaders expect similar attendance at this year’s event – now split over two days and in the district’s main office and training center.

The West Ada School District training center is located at 1303 E. Central Dr. Meridian, Idaho 83642. For families new to West Ada unable to attend this enrollment fair, please call your children’s schools for information on summer office hours. Find more information about this event and take care of online forms in advance by visiting www.westada.org/EnrollmentFair.

NEW! Homes and Land of Boise and the Treasure Valley

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New Homes and Land of Boise and the Treasure Valley Magazine

Real Estate Professionals – You now have a new venue for marketing real estate in Boise and the Treasure Valley! Homes & Land of Boise and the Treasure Valley will publish its first issue this August.

Agents will receive all the benefits Homes & Land has to offer, including custom ads, virtual tours, internet exposure on HomesandLand.com and much more. Consumers will be rewarded with a full size, glossy magazine devoted exclusively to real estate and real estate related businesses.

CONTACT US TODAY TO LEARN MORE! Ad space is filling fast.

Kathy Muench, owner/publisher • 208.634.1472 • homesandlandofboise@gmail.com

Teddi Ball, account manager • 208.559.8583 • tball02@msn.com