2016 August GRI Graduates!

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Congratulations to Kimberly Olson, Ravit Berg, Lorraine Moore, Kari Barker and Christian Klempp for completing the Graduate, REALTOR® Institute (GRI) Designation this August 2016!

 Kimberly Olson

Kimberly Olson

Ravit Berg

Ravit Berg Photo

Lorraine Moore

Lorraine Moore

Christian Klempp

Christian Klempp

Minnesota is the #4 state by percentage of REALTORS® who have earned their GRI Designation!

Don’t Be Left Out!

BE THE NEXT GRI DESIGNEE

REALTORS® with at least ONE Designation:

  • Earn a medium of $61,000 while those without the designation earned a median income of $33,500, a difference of $27,600. (Source: 2013 NAR Member Profile)
  • Reported that they were better able to serve and protect their clients because of their understanding on new technology, laws and procedures.

SCHEDULE OF GRI DESIGNATION CLASSES*

Minneapolis Association classroom, 5750 Lincoln Drive, Edina:

  • November 7th, 1-4pm, Resolving Transaction Disputes, Jonathan Kopecky
  • November 18th, 9-noon, Risk Management, Susan Dioury and Anne Kealing
  • December 5th, 9-noon, Counseling Sellers: Fundamentals of Sellers and Listings (CE Pending), John Anderson

St. Paul Association classroom, 325 E Roselawn Avenue, St. Paul:

  • October 24th, 9-noon, Resolving Transaction Disputes, Jonathan Kopecky
  • November 21st, 9-noon, Negotiating with Confidence and Power (CE Pending), Deb Greene
  • December 7th, 9-noon, Professional Standards & Best Practices (CE Pending), Deb Greene
  • December 7th, 1-4pm, Risk Management, Susan Dioury

*All classes approved by the Commissioner of Commerce for 3 hours of real estate continuing education each unless otherwise shown.

More classes being added. Check our website HERE

Other Locations Coming Soon: Attend live-streaming GRI classes in your region. Watch for further details.

REGISTER HERE

Get more information on the GRI Designation HERE

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

June Housing Report

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The month of June seemed to follow the Economics 101 rules of supply and demand. With new listings continuing to trend down 2.0% over the same time last year, anyone selling their home is selling it quickly, and finding the median and average sales prices climbing upward due to buyers not having much to choose from.

During June, homes for sale were selling in 54 days. This is an 11.5% decrease over 2015. Additionally, buyers are paying more for their purchases. The median sales price rose 6.1% to $218,500, and the average sales price jumped 4.5% to $243,548.

The closed and pending sales slowed down a bit in June. Closed sales ended up at 10,201 units and pending sales ended up at 8,911 units. This is down .4% and .6% respectively. These numbers still make for a very robust housing market throughout the state.

“The lack of inventory continues to be the issue in the marketplace that we hear the most about,” said Chris Galler, CEO of the Minnesota REALTORS®. “It is absolutely a seller’s market out there right now.”

Download the June Minnesota Housing Report HERE.

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The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the industry.

Form Changes Available

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The Minnesota REALTORS® Forms Committee held six meetings, one Commercial Forms Sub-Committee meeting, and one Leasing Forms Task Force meeting this fiscal year. It covered many of the members’ suggested changes. A special thanks is due to the Forms Committee Chair, Deb Richmond-Johnson, and all of the volunteer Form Committee, Sub-Committee, and Task Force members for their effots in accomplishing a very hefty agenda this fiscal year.

The Forms Committee made numerous form changes, which were summarized in last month’s REsource (you can view the detailed summary HERE). The revised forms are now available on TransactionDesk.

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Please note that substantive changes were made to three main contingencies including the Addendum to Purchase Agreement: Inspection Contingency; Addendum to Purchase Agreement: Sale of Buyer’s Property Contingency; and the three Addendum to Purchase Agreement: Financing Contingencies (Conventional, FHA, and DVA). We strongly encourage you to thoroughly review these revised forms to ensure you understand how these changes affect the applicability, duration, and removal of these particular contingencies.

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

NEW SERVICES, MORE VALUE

LETTER FROM THE CEO, CHRIS GALLER

Chris

On June 9th, the MN REALTORS® Board of Directors passed an updated strategic plan and approved the Fiscal Year 2017 budget. In this article we will review the plan, which includes new services to increase the value proposition for members.

The MN REALTORS® is the largest professional trade association in the state with more than 18,000 members. Organizationally, we have 18 local Associations/Boards oriented throughout the state, and an affiliation with the National Association of REALTORS®. Together our organizational structure – local, state, national – represents one of the largest segments of the housing economy. Our Mission Statement: “To proactively help Minnesota REALTORS® understand and thrive in the ever-changing real estate landscape.” The Organization’s 10-Year Stretch Goal: “MN REALTORS® is so indispensable to success, agents and brokers choose to join and believe their continued involvement is equally critical.”

From this statement we formulated five program initiatives that focus on how resources are allocated and activities pursued for the organization’s membership. These become the Association’s core competencies and the focus of the Association’s leadership when determining policy and program directives.

  1. Advance Professionalism of Members “To improve competency and professionalism through compliance with, and enforcement of, the REALTOR® Code of Ethics.”
  2. Advocate for REALTORS® and Real Property “To promote public policy which benefits and enhances the right to own, use, and transfer real property.”
  3. Support Business Success of Members “To provide resources and leadership to promote a legal environment conducive to success for our members.”
  4. Understand and Advise on the Future “To research, organize, and assemble information in a manner that provides educational opportunities that help members achieve their business goals.”
  5. Restructure Minnesota REALTORS® Association “To promote a membership focus that assures optimal use of all REALTOR® resources.”

Each of these core competencies is further defined and programming activities are developed. These are incorporated into the Association’s business plan to establish priorities and goals for the Leadership Team, Committees, and staff. Once completed the Finance Committee looks at the costs of implementing the plan and how it can be paid for using dues, fees, or reserve dollars.

The major focus for the MN REALTORS® is related to improving communication and providing consistent, cost-effective continuing education. There is a recognized limit on how a trade association can influence individual professionalism. By focusing on improving communication, we will provide more information – through smart phones, tablets, and computers – so members can access the dos and don’ts whenever and wherever they need that information.

Consistent educational instruction is an important element of increasing professionalism. Too often, real estate CE instructors give students information that is either incomplete or wrong.

The Board of Directors has recognized two education areas where confusion over the facts can cause significant problems. One is the REALTOR® Code of Ethics and its application to your business. The other is the state module, which includes the test. Because of their importance, the MN REALTORS® will develop online courses that members will receive within their annual dues structure. In FY2017, MN REALTORS® will partner with local associations to provide the Code of Ethics education via the internet. This will reduce member travel and provide consistency in the education. In FY2018, we believe an online version of the Code of Ethics and state module will be available.

INMAN News Select is another member benefit all MN REALTORS® will be receiving through your annual membership dues. In October 2016, all members of the MN REALTORS® will receive access to INMAN Select as part of their membership dues. This $199 value will be accessed through the MN REALTORS® Higher Logic web site. If you currently have an INMAN Select account, do not renew it, as refunds will not be available.

The MN REALTORS® Leadership Team, Policy Committees, and Board of Directors has worked hard to position the association for the future. We’ll be conducting a board membership survey this summer and I hope you will take a few minutes to answer the questions so we can better deliver the benefits, programs, and services to you.

If you have any questions or comments, please feel free to contact Chris Galler at cgaller@mnrealtor.com.

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

April Legisative Update

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The Minnesota REALTORS® Association is working with the Builders Association of the Twin Cities (“BATC”) and the Builders Association of Minnesota (“BAM”) in support of a bill that Rep. Nash-R, Waconia and Sen. Franzen-DFL, Edina have introduced. The bill would add a notice and hearing requirement before a municipal government could pass a housing-related interim ordinance. https://www.revisor.mn.gov/bills/bill.php?b=House&f=HF2585&ssn=0&y=2016

State law grants cities and towns the authority to pass interim ordinances for planning-related matters. Interim ordinances are temporary (up to one-year), require that the city/town council undertake a study on the planning issue in question, and can be enacted without a public notice and hearing. An example of an interim ordinance would be if a city or town council passed and “emergency” moratorium on new construction in a particular ward or neighborhood.

REALTORS® respect the authority that cities and towns have been granted to protect the planning process and the health, safety, and welfare of their citizens. Unfortunately, a growing number of cities and towns have embraced emergency moratoria as a means to address non-emergency land-use issues, such as rental housing and residential design standards.

REALTORS® and Builders believe that using interim ordinances in this manner violates due process and runs contrary to the original intent of statute.

Interim ordinances can be harmful to property owners and can also be a burden to small businesses, the construction trades, and future residents of the city/town that enacted a housing-related moratorium.

Last month, REALTORS® from around the state came to St. Paul for the Minnesota REALTORS’® Legislative Impact Day. In addition to hearing from some great keynote speakers, REALTORS® met with their elected officials. A number of our members spoke about the interim ordinance/moratorium issue with their legislators and did a great job sharing their experiences and illustrating the economic and emotional pain that surprise moratoria can have on homeowners and aspiring homeowners. Legislators appreciate hearing “real world” stories from their constituents. As the name implies, your presence truly does have an impact on how REALTOR® and homeowner issues are viewed and addressed at the Capitol. Thank you to all who attended!

REALTORS® believe the best way to address housing-related issues is through open dialogue, where all interested parties can provide feedback to governing bodies regarding potential policies. The Minnesota REALTORS® Association in supporting House File 2585/Senate File 2694 because we believe it would add a much needed level of transparency and dues process to how housing-related interim ordinances are enacted.

This bill does not seek to strip municipal governments of their ability to enact interim ordinances or moratoria. What it WILL do is add daylight and dialogue to the front end of the process. By providing notice and opportunity for a hearing, municipal governments will be able to hear all perspectives and be in a position to make a more informed decision.

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PaulPaul Eger – Vice President, Governmental Affairs

peger@mnrealtor.com

 

 

RyanRyan Hamilton, JD – Associate Legal Counsel

rhamilton@mnrealtor.com

 

 

Find more articles like this in the MN REALTORS® Monthly RESOURCE

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Weekly Legislative Update 2016

April 11th

MN REALTORS®Supporting YOUR Success

Presented by the MN REALTORS® Paul Eger, Vice President Governmental Affairs & Ryan Hamilton, JD, Associate Legal Counsel.

2016 LU VC

Keep connected with the MN REALTORS® on what’s taking place at the Capitol this Legislative Session!

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Weekly Legislative Update 2016

April 4th

MN REALTORS®Supporting YOUR Success

Presented by the MN REALTORS® Paul Eger, Vice President Governmental Affairs & Ryan Hamilton, JD, Associate Legal Counsel.

2016 LU VC

Keep connected with the MN REALTORS® on what’s taking place at the Capitol this Legislative Session!

The Minnesota REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.