Service Project: Sleep in Heavenly Peace Bunk Bed Build

On Saturday, March 16, 2019, the REALTOR® Outreach Committee partnered with Sleep in Heavenly Peace (SHP) to help build bunk beds for kids! Service projects like this are just one of many ways that REALTORS® give back to the communities in which they live and work. Special thanks to Jamie Matzdorff for coordinating this service project. You can learn more about Sleep in Heavenly Peace at shpbeds.org/get-involved.

SHP Group Photo

PHOTO GALLERY

The Four Most Common Ways I Break Your Deals

Four Ways I Break Your Deals

Guest blog post featuring Tim Tyree, BRR’s legal counsel and principal of Tyree Legal, PLLC.

Recently, I attended a First Friday Broker Forum. The discussion topic was this: When I receive a phone call and the prospective client asks, “I want to get out of my contract,” or asks, “can the buyer break our contract?”, here are the most common ways I can break the deal.

By far the most common deal killer is the lack of a sufficient legal description. This is a double-edged sword because not only does the lack of a sufficient legal description render the contract invalid, it also exposes the agent to liability. Pursuant to the Idaho Real Estate License Law, all offers to purchase must have a legal description. The failure to provide a legal description exposes the agent to liability.

The most common mistake I see is using a legal description taken from the county assessor’s webpage. That description is not always complete, especially when the property contains multiple parcels. If it’s not complete, the contract is in jeopardy.

The fix is easy — obtain a copy of the seller’s vesting deed. Obtaining the deed confirms two points, the legal description of the property and the identity of the seller (more on the seller later). If the deed is just for a lot and block, the Idaho REALTOR® forms make it easy, but if it’s anything more, attach the whole deed and remember to initial all pages. Yes, you can attach just the legal description from the deed, but sometimes the legal description is spread out and there’s no harm in attaching the whole deed.

By confirming the identity of the seller in the deed, you avoid another common mistake — binding the actual owner of the property. This one does not always result in a broken contract because the party making the contract has liability exposure, but if not all parties are listed, their hold out may bust the deal.

The most common mistakes arise when there are multiple owners. We all know we need both spouses to sign, but sometimes there are kids, siblings or co-owners that don’t actively participate in the property. If they’re left out, the contract is at risk.

The third common out is the financing contingency. Line 32 of the July ‘18 RE-21 reads “This Agreement is contingent upon BUYER obtaining the following financing[.]” The usual fact pattern is just before closing the buyer backs out, citing this contingency. Sometimes it’s for legitimate purposes, sometimes it appears the buyer is playing games, but the seller is always upset.

The seller also always points to the lender approval letter, seemingly believing this ended the contingency. We know it does not. If you want to end this contingency, end it. Add a provision that the contingency will end at a certain time.

Section 4 of the RE-21 is my fourth most-common problem source. Often, I see agents adding the phrase “this offer is contingent on an inspection.” I believe agents see the phrase in other deals and so believe it must mean something, and it does. It means you’ve created a new contingency.

Section 10 of the RE-21 already has an inspection contingency, so if you mark the right box, the offer is contingent on an inspection and Section 10 walks the parties through a very detailed step-by-step process. Your new contingency has no end date, so a buyer looking for an out may claim this contingency is not satisfied and terminate the contract. Because of the contingency waivers in the RE-10, this argument may fail, but the concern remains and applies to any contingency added to the contract. Avoid duplicating concepts already addressed in the forms and, when drafting contingencies, consider adding end dates.

My final tip is to encourage your broker to attend the First Friday Broker Forum. Getting to know your fellow practitioners leads to better relationships and better deals, and we all want that.

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This article is for educational purposes only and is not intended to be legal advice. Every situation is different, and you should consult with your own legal counsel before acting on the matters discussed in this article.

Tim Tyree serves as legal counsel to BRR and is the principal of Tyree Legal, PLLC.

REALTOR® Awards Gala Event and Ticket Info

 

Gala Save the Date Image 10.9.18

Tickets went on sale Friday, February 1, at 10:00 a.m. As of Saturday, February 2, the event sold out. We are unable to add any additional seating or tickets due to the constraints of the space.

If you have tickets you’d like to sell or transfer, either do so independently or let Cassie know by emailing cassie@boirealtors.com. If you are looking for tickets, contact Cassie at cassie@boirealtors.com with your name, phone number, email address and number of tickets you are looking for in order to be added to the wait-list. We’ll do our best to put those who are looking to transfer tickets in touch with those who are looking for tickets.

Looking to sponsor this amazing, sold-out event? We still have some great ways to get your company in front of our 1,200+ attendees! Secure our Ride Share Sponsorship, Dessert Sponsorship, Live Artist Sponsorship, and/or Bar Sponsorship at boirealtors.com/2019-individual-event-sponsorship. Contact BRR Events Specialist Marind Amano at marind@boirealtors.com with any questions.

Boise Regional REALTORS® honors our outstanding members with the annual REALTOR® Awards Gala. The Circle of Excellence Production Awards recognize listing and selling achievements – and provides BRR members with an opportunity to celebrate the success of the Boise region real estate market. We’ll also be celebrating our Individual Award winners.

The evening kicks off with a cocktail hour from 6:00 p.m. – 7:00 p.m. Dinner will be served at 7:00 p.m. with the program beginning at 8:00 p.m. The After-Party starts around 9:00 pm and lasts until 11:30 p.m.

Please join us for a night to remember!

Important Ticket Info:

  • Tickets are non-refundable but they are transferable.
  • Tables seat 10. We are unable to add extra seats to any of the tables.
  • Tickets are required for admittance. Please bring either a digital or printed copy of your ticket to the event.

Find more information about the event including FAQs and hotel discounts on our event page.

 

Boise Regional REALTORS® Welcomes New Staff

Marind Amano

BRR Events Specialist Marind Amano

Marind Amano has joined as the BRR’s Events Specialist, overseeing the planning and execution of all membership events and the community engagement efforts of the REALTORS® Community Foundation, BRR’s wholly-owned charitable organization.

For the past 10 years, Marind has been an Event Producer for a Seattle-based company where she worked on conferences, awards shows, and red carpet events, in addition to projects with Netflix, Ed Sheeran, and E! People’s Choice Awards. Marind earned her degree in Business Administration from Northwest Nazarene University.

BRR Communications Specialist Annie Exline

BRR Communications Specialist Annie Exline

Annie Exline has joined as the Communications Specialist, where she will be implementing the association’s communications plan through BRR’s website, social media, public relations, and more.

Annie’s previous work includes projects for the Nampa School District, Habitat for Humanity, and the “Vote Yes” Meridian Library Committee. She most recently worked as a copywriter for a Boise-based startup providing provided content and digital marketing. She graduated from the University of Idaho with a degree in Public Relations and will complete a Masters in Technical Communications from Boise State University in 2019.

In addition to the new hires, BRR is excited to announce internal promotions of two employees.

BRR Government Affairs Manager Cameron Kinzer

BRR Government Affairs Manager Cameron Kinzer

Cameron Kinzer was promoted to Government Affairs Manager. In this new position, Cameron will be taking on a larger role in supporting BRR’s legislative, policy, and advocacy efforts. Since he started with BRR in 2017, his skills in researching and identifying issues that relate to real estate, private property rights, housing, planning and zoning, transportation, and more have proved invaluable to the organization.

BRR Finance Manager

BRR Finance Manager

Kym Reeves was promoted to Finance Manager and is now responsible for overseeing the financial reporting and policies for the association. Her background in finance and accounting as well as her attention to detail and organizational skills make her a perfect fit for this new role. Kym has been with BRR since 2015.

“These staff changes were done to better meet the goals in the association’s strategic plan, capitalize on the strengths of our outstanding staff, and most importantly, expand BRR’s capabilities to take on new opportunities,” said Breanna Vanstrom, Chief Executive Officer for BRR.

BRR has also added Pam Dilbeck as a Member Support Specialist. So next time you’re in the office, be sure to say “hi” to all of the new staff members!

BRR Member Support Specialist Pam Dilbeck

BRR Member Support Specialist Pam Dilbeck

Award Applications and Nomination Forms

The deadline to submit 2018 Production Award applications, 2018 Honor Society applications, and 2019 Individual Award nomination forms has passed. Thank you to everyone who has submitted, we look forward to recognizing our top producers and award winners at the REALTOR® Awards Gala on March 8.

All nominations, applications, and any required documentation noted must be submitted to awards@boirealtors.com by Friday, January 25, 2019, at 5:00 p.m. MT. Late or incomplete applications received after this date will not be processed.

Have questions?  Visit our FAQ page and find production applications at boirealtors.com/production-awards!

Production Award COE
Honor Society COE

Individual Award COE

Four Steps You Need to Take to Protect Your Clients From Wire Fraud

fraud_sliderAs KTVB recently reported, a local family was scammed out of $80,000 down payment in a wire fraud scheme in which their agent’s email was hacked, and fraudulent wire instructions were sent to the buyer. Now that the money has been wired, it’s unlikely that it will be recovered.

Wire fraud and cybercrime is a very serious issue and one that isn’t going away any time soon. Don’t let your clients become victims, take these four steps TODAY to protect your clients and yourself.

1) Inform your clients that you will NEVER share wire instructions over email, but only verbally over the phone or in person. Educate them about the risks, and insist they call you (using the phone number you provided, not one from a suspicious email) if they receive instructions via email, or if anything feels “off.”

2) Use an email service that provides two-factor authentication and make sure it’s enabled.

3) Change your email password and make sure it’s a strong password. Set up a calendar reminder to change your email password regularly, and then follow through.

4) Add a standard warning about wire scams to your email signature or include a disclaimer at the bottom of your emails explaining that you will not discuss personal financial information over email. (Sample from NAR.) Here’s another example: ALERT! [Brokerage Name] will never send you wiring information via email or request that you send us personal financial information by email. If you receive an email message like this concerning any transaction involving [Brokerage Name], do not respond to the email and immediately contact your agent via phone.

Additional tips and resources:

Phil Mount Installed as 2019 President of Boise Regional REALTORS®

2019 Boise Regional REALTORS® President, Phil Mount

2019 Boise Regional REALTORS® President, Phil Mount

Phil Mount, REALTOR® with Front Street Brokers, was named 2019 President of the Boise Regional REALTORS® (BRR) during the association’s annual installation ceremony, held December 14th at the Boise Art Museum.

Phil had this to say about his new role: “It is a true honor to be able to lead BRR and a membership engaged in one of the most essential professions– facilitating our neighbors’ most important transaction.  By providing a platform of advocacy, education & ethics, and a way to connect with industry colleagues, BRR enables our members to serve this community with professionalism and integrity.”

“Phil has an amazing passion for the real estate industry and outstanding insights into the community – both of which have been and will continue to be tremendously valuable to the initiatives we take on,” said Breanna Vanstrom, BRR’s Chief Executive Officer.
Mount will lead BRR’s volunteer board of directors in 2019, which includes:

President-Elect Michelle Bailey, Keller Williams Realty Boise
Vice President Jeff Wills, Amherst Madison Real Estate
Immediate Past President Gary Salisbury, Equity Northwest Real Estate
Treasurer Bob Van Allen, Coldwell Banker Tomlinson Group
Director Elizabeth Hume, Silvercreek Realty Group
Director Becky Enrico-Crum, Andy Enrico & Company
Director Michele de Reus, Accel Realty Partners
Director Bob Hurtt, ERA West Wind Real Estate
Director Debbi Myers, Front Street Brokers
Director Carolyn Sinnard, Happy Dog Realty
Director Ed Sperry, Equity Northwest Real Estate

View Photo Gallery

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Boise Regional REALTORS® (BRR) is a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

 

REALTORS® Community Foundation Awarded $1,500 Grant from First Story

The REALTORS® Community Foundation, the 501(c)(3) charitable arm of Boise Regional REALTORS® (BRR), recently received a $1,500 grant from First Story, a 501(c)(3) non-profit organization founded by Hayden Homes.

The funds will be used to further the REALTORS® Community Foundation’s mission to improve the quality of life in the Boise region through housing-related projects and grants.

“We are so honored to be selected by First Story for this grant,” said Kim Daley, 2018 REALTORS® Community Foundation President, and Business Development Officer for Stewart Title. “These funds will make a significant difference towards reaching our goals of addressing housing-related and community needs.”

The REALTORS® Community Foundation offers opportunities for local real estate professionals give back to our community with their time, talents, and donations.

First Story Grant Photo 2018

Kim Daley, REALTORS® Community Foundation President (center left), and Breanna Vanstrom, Boise Regional REALTORS® Chief Executive Officer (center), accept the $1,500 check from Hayden Homes and First Story representatives.

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Boise Regional REALTORS® (BRR) is a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

Established in Redmond, Oregon in 1989, Hayden Homes has provided 15,000 new homes to price conscious, value-driven homebuyers in underserved, secondary markets throughout Washington, Oregon, and Idaho. Hayden Homes continues to be the largest privately-owned new home builder in the Pacific Northwest.

With a commitment to building a strong community together, Hayden Homes has contributed 2.5 billion dollars to local economies and creates more than 5,500 jobs annually. Hayden Homes supports philanthropic efforts in the communities in which they build and have contributed more than 13.3 million dollars in charitable donations with the flagship of their giving through the 501(c)(3) Non-Profit, First Story. To date, First Story has provided 72 deserving and capable families throughout the Pacific Northwest with a safe, healthy affordable home and a first step toward financial freedom.

Elmore County is Now Part of BRR!

Boise Regional REALTORS®, Inc. (BRR) and the Elmore County Board of REALTORS®, Inc. (ECBR) are pleased to announce a merger of the two organizations, expanding valuable programs in government affairs, market research, community grants, and more, throughout Ada, Elmore, and Gem counties.

The newly merged organization will continue to operate as Boise Regional REALTORS®.

Sonia Arciniega

2018 ECBR President Sonia Arciniega

“REALTORS® in Elmore County are a close-knit group and it was important to us to find an association that helped us keep our roots in the community,” said 2018 ECBR President, Sonia Arciniega. “By merging with BRR, we can continue serving our neighbors while also expanding the educational opportunities and professional resources available to REALTORS® throughout Elmore County.”

Kim Daley, 2018 REALTORS® Community Foundation President

Kim Daley, 2018 REALTORS® Community Foundation President

Kim Daley, 2018 President of the REALTORS® Community Foundation, and Business Development Officer with Stewart Title, said this about the community service aspect of the merger: “Our colleagues in Elmore County have a long tradition of giving back to their community, and in particular, to the service men and women and their families at the Mountain Home Air Force Base. We are proud to be able to continue this support and financial giving through BRR’s REALTORS® Community Foundation.”

In November 2018, the REALTORS® Community Foundation distributed $32,000 to charitable organizations and plan to expand these grant opportunities to Elmore County in 2019.

2018 BRR President Gary Salisbury

2018 BRR President Gary Salisbury

“We are honored that the members of ECBR selected BRR as their association partner, recognizing the value we provide to REALTORS® through our programming,” said 2018 BRR President Gary Salisbury. “REALTORS® have always worked together for the benefit of our clients and communities, and this merger will only continue that tradition.”

 

 

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Boise Regional REALTORS® (BRR) is a 501(c)6 trade association, representing real estate professionals throughout the Boise region. Established in 1920, BRR is the largest local REALTOR® association in the state of Idaho, helping members achieve real estate success through ethics, professionalism, and connections. BRR has two wholly-owned subsidiaries, Intermountain MLS (IMLS) and the REALTORS® Community Foundation.

2019 REALTOR® Membership Renewal Dues

Dues Billing Graphic

Pay your 2019 dues online (REALTORS® can login with their IMLS Paragon credentials) or call 208-376-0363 to pay by phone or with questions.

Membership dues for 2019 were made available on member accounts on Tuesday, September 25, 2018. Avoid the $100 late fee by paying your dues prior to the Monday, December 31, 2018 deadline. And don’t forget… your annual REALTOR® dues are not set up as an auto-debit like your quarterly IMLS fees.

Your invoice is comprised of the following membership dues, investments, and contributions:

  • Boise Regional REALTORS® Dues — $200
  • Idaho REALTORS® Dues — $180
  • National Association of REALTORS® Dues — $185
  • REALTORS® Political Action Committee (RPAC) Suggested/Voluntary Investment* — $30 for REALTORS® and Appraisers; $99 for Designated REALTORS®/Brokers
  • Learn more about Investing in RPAC
    Your voluntary investment in the REALTORS® Political Action Committee (RPAC) is designated for political purposes to support or oppose candidates and issues that affect the housing industry. From city hall to the state house to the U.S. Capitol, our elected officials are making decisions that have a huge impact on the bottom line of REALTORS® and their customers. RPAC speaks with one voice to build strong communities, promote a vibrant business environment, and protect the real estate industry. From defending mortgage interest deductibility to stopping a transfer tax on every real estate transaction, RPAC is there for you. All RPAC Investments made via dues billing are earmarked for 2018 fundraising goals. Questions about RPAC? Contact BRR Director of Government Affairs Soren DoriusYou may refuse to contribute without reprisal and the National Association of REALTORS® or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed.
  • REALTORS® Community Foundation Suggested/Voluntary Donation* — $5
    • Learn more about the BRR Foundation
      Your voluntary donation to the REALTORS® Community Foundation helps us achieve our mission to improve the quality of life in the Boise region through housing-related projects and grants, demonstrating the many ways REALTORS® and industry professionals give back to the community. Since its inception in 1995, the BRR Foundation has provided over $1.7 million in grants to qualifying non-profit organizations throughout Ada and Gem counties. Questions about the foundation? Learn more at boirealtors.com/realtor-foundationYou may refuse to contribute without reprisal and Boise Regional REALTORS® will not favor or disfavor any member because of the amount contributed. 

*To edit the amounts for RPAC and the REALTORS® Community Foundation, simply click “EDIT” on the Order Summary page before clicking “Pay Now.”

Deductibility Rules

100% of donations made to the REALTORS® Community Foundation are tax-deductible since the foundation is a 501(c)3 organization. RPAC voluntary contributions are not deductible for Federal Income Tax purposes. Provisions of the Federal Tax Act regarding lobbying expenses limit the extent to which National, state, and local dues are deductible.  For 2019, with dues at $185 per member, NAR computes 38% or $57 to be nondeductible for income tax purposes due to NAR lobbying efforts. Please note the entire $35 Public Awareness Campaign special assessment (which is included in the $185sum) qualifies as fully deductible. For 2019, with dues at $180 per member, Idaho REALTORS® computes $27.79 to be nondeductible for income tax purposes due to Idaho REALTORS® lobbying efforts. Please note the entire $10 Legal Review Fee and $142.21 of the Idaho REALTORS® dues qualifies as fully deductible. For 2019, with dues at $200 per member, the full $200 for Boise Regional REALTORS® dues qualifies as fully deductible, since none of it is used for lobbying efforts.

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 advisors about your specific situation. 

 

Why are NAR dues up $30?
The NAR 2019 dues increase is $30, which includes $17 dedicated to REALTOR® Party programming and $13 for operating programming, for a total per member amount of $150 a year. Together with the $35 special assessment for the consumer advertising campaign, annual membership fees for 2019 total $185. There has not been an increase in dues, special assessment or REALTOR® Party funding since 2011.

In May 2018, NAR’s Board of Directors passed the 2019 budget with $35 million in new programming known as the S.M.A.R.T. Budget Initiative, for Strategic Measures Advancing REALTORS® to Tomorrow. The dues increase will allow members to take advantage of the following new initiatives:

  • $20 million for REALTOR® Party Programming
  • $2 million for new Commitment to Excellence Program, Financial Wellness Program and Strategic Business,
  • Innovation and Technology initiatives
  • $6 million for NAR occupancy costs for 10-year, $45 million Chicago building renovation
  • $7.5 million for zipForm® Plus Forms & Transaction Management Platform

For more information about the dues increase and SMART Budget Initiative, review the Frequently Asked Questions, Budget Information Sheet, the How NAR Membership Dues Help REALTORS® Succeed infographic, or visit nar.realtor/smartbudget.

You can also call NAR Member Support at 800-874-6500, email them at ContactNAR@realtors.org, or chat online with a Member Support Specialist at nar.realtor/help.

 

How does REALTOR® membership benefit my business?
We get it… paying membership dues isn’t quite as fun as buying a new gadget, sCoverhoes, or purse. However, we want to make sure you’re getting your money’s worth by taking advantage of all of your member benefits. We’ve highlighted a few member favorites from Boise Regional REALTORS®, Idaho REALTORS®, and the National Association of REALTORS® below. If you’re looking for a comprehensive list, check out BRR’s member benefits brochure, or the REALTOR Benefits® Program Catalog for member discounts and special offers.

  1. Two Idaho Commission CORE courses at BRR per licensing cycle for free ($50 value each) and free lunch at our monthly Lunch & Learn classes. View our Upcoming Classes page for dates and details.
  2. Free social media content from the National Association of REALTORS® “Get REALTOR®” initiative, com’s shareable content portal, Idaho REALTORS® “Empower the R” campaign, and, through Boise Regional REALTORS® Facebook, Twitter, and Content Corner. Share, repost, and repurpose anything you’d like from these sources!
  3. Free market reports, graphics, and analyses about real estate activity in Ada, Canyon, and Gem counties updated monthly for you to use in your research, presentations, and communications. If you’re looking for national stats, NAR provides research reports, residential housing statistics, and commercial research.
  4. Free quarterly 59 Minute Meetings, a Mid-Year Housing Summit, and Annual Membership Meeting featuring local experts and national speakers, providing insights on the housing market, economy, and legislative issues.
  5. Discounts and exclusive offers on products and services from Sprint, Jeep, FedEx, Dell, and much more, through NAR’s REALTOR® Benefits Program, and competitive prices on open house and rider signs in BRR’s REALTOR® Store.

We know how busy you are each day, and how you don’t always have time to research what’s going on at the association — or to look beyond the great tools you get through Intermountain MLS. So again, we encourage you to incorporate the benefits noted above, and others, into your business plan and practices to get the most out of your membership and dues investment!

 

For answers to other FAQs regarding dues, please visit our Dues Billing FAQs page, contact us with any specific questions, or visit boirealtors.com anytime for resources, news, and upcoming events.