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The Silicon Valley Association of REALTORS® Global Business Council (SILVAR GBC) was presented the DIAMOND Global Achievement Program Award for 2018 by the National Association of REALTORS® at the Nov. 2-5 REALTORS® Conference & EXPO in Boston. SILVAR President Bill Moody and Executive Officer Paul Cardus accepted the award on behalf of the GBC from NAR Global Business and Alliances Committee Chair Mario Arriaga during the International Night Out dinner on Nov. 3.

The DIAMOND award is the highest level award for global achievement that recognizes those global councils that have consistently performed at the highest level for six years. The award is given to association global councils that have earned PLATINUM status for five consecutive years. SILVAR was honored with the PLATINUM Global Achievement Award for five consecutive years from 2013-2017.

NAR recognized SILVAR GBC as having demonstrated the utmost commitment to helping their members capture their share of the global real estate market in the United States, in addition to connecting their council and members to the global community in their area. The services and resources they have worked hard to provide their members are the benchmarks upon which the standards have been set.

“We are thankful to SILVAR’s Global Business Council for their commitment to enhancing global business opportunities for REALTORS® in their market,” said Jan Hope, NAR Vice President of Commercial & Global Services. “They have done an outstanding job and we are pleased to provide them with the Diamond Global Achievement Program Award.”

The GBC provides SILVAR members information, resources, networking and skills training to enhance their professionalism and success in their local markets with international and multicultural clients and customers. Each year the GBC provides a host of programs related to global real estate, including the Certified International Property Specialist Institute (CIPS).

The CIPS Institute provides training in international business issues, including currency conversion, cultural awareness, legal and tax requirements, transaction principles of international real estate, and specifics about the real estate markets in Europe, the Americas, and Asia. The course is taught by David Wyant, recognized NAR International Instructor of the Year for 2017, 2012 and 2009. There are currently over 4,000 CIPS designees from the U.S. and 35 other countries.

Congratulating the Global Business Council members, SILVAR Executive Officer Paul Cardus said, “The benchmarks for success over the past six years have been the commitment of SILVAR to think globally, the resolute efforts of our Global Business Council.”

Members of this year’s GBC core team are chair Tess Crescini, SILVAR board directors Mark Wong and Joanne Fraser, Mitra Lahidji, Atsuko Yube, past president David Tonna, Alicia Sandoval, Jimmy Kang, Ketan Jashapara, Daisy Wong and Lisa Wendl. Past chairs who led the team in obtaining past PLATINUM awards are Jennifer Tasto, Davena Gentry and Mark Wong.

Other REALTOR® associations earning DIAMOND status are Houston Association of REALTORS®, Arcadia Association of REALTORS® and Orlando Regional REALTOR® Association, REALTOR® Association of the Palm Beaches and Greater Ford Lauderdale (2017) and Miami Association of REALTORS® (2016).

 

 

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A REALTOR® workshop hosted by the Silicon Valley Association of REALTORS® (SILVAR) early this month brought together board directors and representatives of neighboring REALTOR® and multicultural real estate associations interested in strengthening their leadership skills. “Learn to Be a Leader 2” is the second leadership workshop the local REALTOR® association has conducted that was partly funded by a National Association of REALTORS® (NAR) Diversity Initiative grant.

Key speaker California Assembly Member Evan Low shared his views on leadership and his experiences as a former Campbell City Council member, mayor and state legislator. Low’s talk was followed by the NAR Leadership 300 course facilitated by Steve Francks, CEO of the Washington REALTORS® Association and NAR Leadership Academy instructor.

Low said the concept of leadership is subjective depending on the characteristics one likes, and it can have misconceptions, often bringing leaders in conflict with opposing sides. “We are put on a pedestal that sometimes is unattainable. We are supposed to have all the answers, but we are human also,” said Low.

Whether in a professional or community organization or politics, a leader should be able to communicate. “Make a person feel you are invested in them. It’s a people business that needs a personalized touch,” said Low.

No matter the differences, leaders should have respect. “A leader is someone who gains your respect because you know where his heart is,” added Low.

The California Assembly member indicated engagement is important, particularly in this environment. “We are all Americans, we are all human. We need to create an environment that supports all of us. We must be all together,” said Low.

READ MORE HERE

 

Even though income and sales volume of REALTORS® have dropped slightly in the past year, membership in the National Association of REALTORS® has increased, as more younger agents continue to enter the industry. According to the “2018 National Association of REALTORS® Member Profile,” membership increased 6 percent from 1.22 million in March 2017 to 1.30 million in April 2018.

“Younger Americans are seeking business opportunities that working in real estate provides,” said NAR chief economist Lawrence Yun. But Yun also noted the overall trend is still a slightly older age profile.

Members of NAR account for about half of all active real estate licensees in the U.S. REALTORS® go beyond state licensing requirements by subscribing to NAR’s Code of Ethics and standards of practice and committing to continuing education.

“All real estate licensees are not the same. Only real estate licensees who are members of the National Association of REALTORS® are properly called REALTORS®. They display the REALTOR® logo on their business card or other marketing material,” explained Bill Moody, president of the Silicon Valley Association of REALTORS®. The REALTOR® association has over 4,500 REALTORS® and affiliate members engaged in the business of real estate on the Peninsula and in the South Bay.

“REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are required to complete a two and a half hour Code of Ethics course every two years,” said Moody.

The NAR member survey found the median age of REALTORS® was 54 this year, slightly up from 53, the last two years. Sixty-three percent of realtors are female. The typical REALTOR® is a 54-year-old white female who attended college and is a homeowner.

Sixty-five percent of REALTORS® are licensed sales agents, 21 percent hold broker licenses, and 15 percent hold broker associate licenses. New members tended to be more diverse than more experienced members. Twenty-five percent with two years of experience or less were minorities, up from 22 percent last year.

According to Moody, the national survey reflects the profile of incoming members in the local REALTOR® group, which has over 4,500 members. “Our new members definitely reflect a younger and more diverse group of agents,” said Moody.

Impacted by low inventory, the typical number of transactions decreased slightly from 12 transactions in 2016 to 11 transactions in 2017. REALTORS® said the main factors limiting potential clients in completing transactions are difficulty finding the right property (35 percent), housing affordability (17 percent), and difficulty in obtaining mortgage financing (12 percent).

 

 

 

All REALTORS® MUST COMPLETE ethics training between the January 1, 2017 and December 31, 2018 cycle or be suspended by NAR.

The National Association of REALTORS® (NAR) requires that every REALTOR®, in order to maintain membership in the Association of REALTORS®, must complete a 2 1/2 hour Code of Ethics course every two years. This means all REALTOR® MUST COMPLETE the ethics training at some point between the cycle of January 1, 2017 and December 31, 2018. Failure to comply with this required ethics training is a violation of a membership duty and will result in suspension and possible termination from the member’s primary Association.

It is this mandatory ethics training and membership with NAR that differentiates REALTORS® from real estate agents. Although both are real estate licensees, REALTORS® proudly display the REALTOR “®” logo on the business card or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.

REALTORS® can take the ethics training online through NAR. It’s easy and it’s FREE. Visit NAR CODE OF ETHICS ONLINE for more information on online classes and this mandatory NAR requirement. Code of Ethics training is also included in CalBRE license renewal requirements, so if a member has renewed their license between January 1, 2017 and December 31, 2018, their Code of Ethics requirement is covered.

If you have already taken Code of Ethics training for this period outside of California license renewal, via NAR or the California Association of REALTORS® (C.A.R.) or elsewhere, please email a copy of the certificate to your primary Association. If you are a member of the Silicon Valley Association of REALTORS® (SILVAR), you can email a copy of your certificate to membership@silvar.org before the deadline of December 31, 2018. The next compliance cycle will start January 1, 2019 and end on December 31, 2020.

On Wednesday, the Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income. The new qualified business income deduction is available for tax years beginning after December 31, 2017. Taxpayers can claim it for the first time on the 2018 federal income tax return they file next year.

According to the National Association of REALTORS® (NAR), the deduction will have a significant, beneficial impact on members. NAR believes this deduction, which is included in the IRS and Treasury Department’s release of proposed regulations, will be available to a wide range of real estate professionals, including those who are self-employed, as well as those operating through partnerships, LLCs, and S corporations. NAR will continue thoroughly reviewing the rule and will be releasing more information when the process is completed.

SEE IRS SUMMARY

SEE IRS RULE

NAR TAX REFORM SUMMARY AND RESOURCES

The National Association of REALTORS® is calling on Congress to act now to reform and extend the National Flood Insurance Program, which is set to expire on July 31. Allowing the deadline to lapse would deny necessary insurance coverage to homeowners and buyers in more than 20,000 communities nationwide.

The NFIP provides up to $350,000 of flood insurance coverage for federally-backed mortgage in 22,000 communities nationwide. It also provides an alternative to taxpayer-funded disaster assistance. While there is a growing market for private flood insurance, for many, the NFIP continues to be the primary source of asset protection against flooding, the most common and costly natural disaster in the U.S.

In November last year, the House of Representatives passed the NAR-supported 21st Century Flood Reform Act, which contains numerous important provisions for consumers. The Act reauthorizes the NFIP for a full five years, avoiding the uncertainty of short-term extensions and potential shutdowns and provides guidelines for creating better flood maps for the program. It limits maximum flood insurance premiums to $10,000 per year for residential properties, and directs FEMA to develop more granular rate tables to ensure fewer properties are overcharged by the NFIP. The bill sets aside $1 billion for flood mitigation assistance grants and increases access to private market flood insurance, which often offers better coverage at lower cost. The bill also addresses issues with repeatedly flooding properties that account for 2 percent of NFIP policies and 25 percent of claim payments over the history of the program.

The bill is now in the Senate. NAR is urging the Senate to act quickly. The last time the NFIP expired, approximately 1,400 home closings were interrupted each day until the program was reinstated. In all, the program has lapsed on a number of separate occasions for two months combined with a total of 23 separate short-term extensions.

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REALTORS® discuss issues with Congresswoman Jackie Speier.

 

The leadership of the Silicon Valley Association of REALTORS® (SILVAR) joined more than 9,000 REALTORS® and guests from across the country in the nation’s capital this week for the 2018 National Association of REALTORS® (NAR) Legislative Meetings & Trade Expo to advance policy initiatives that strengthen the ability of Americans to buy, invest, own and sell real estate.

On their agendas this year were visits with members of Congress, regulatory agency officials and top industry leaders; attending some of the nearly 100 available conference sessions on topics ranging from policy to technology; and focusing on the yearlong commemoration of the 50th anniversary of the Fair Housing Act.

REALTORS® are advocating support for several important legislative initiatives, including strong net neutrality protections to ensure the internet is open and competitive for consumers and businesses; renewing and strengthening the long-term viability of the National Flood Insurance Program; indexing homeownership tax incentives for future inflation and permanently extending the tax exclusion on mortgage debt forgiveness; and adopting sexual orientation and gender identity as protected classes in the Fair Housing Act.

NAR is also urging Congress to adopt sexual orientation and gender identity as protected classes in the Fair Housing Act. As members of NAR, REALTORS® subscribe to its strict Code of Ethics, which includes a commitment to provide equal professional services regardless of race, color, religion, sex, disability, familial status, national origin, and as of 2009, sexual orientation, and since 2014, gender identity.

SILVAR leadership met with U.S. Representatives Anna Eshoo, who represents California’s 18th Congressional District, Jackie Speier, who represents the state’s 14th Congressional District and Ro Khanna, who represents District 17. Representing SILVAR at the Hill meetings were SILVAR President Bill Moody, President-elect Alan Barbic, NAR Directors Leannah Hunt and Jim Hamilton, Federal Political Coordinator of Congresswoman Eshoo Carole Feldstein, Executive Officer Paul Cardus and Government Affairs Director Ryan Carrigan. Also at the meetings was Board Director Joanne Fraser.
 

The National Association of REALTORS® (NAR) requires that every REALTOR®, in order to maintain membership in the Association of REALTORS®, must complete a 2 1/2 hour Code of Ethics course every two years. This means all REALTOR® members of an Association of REALTORS® MUST COMPLETE the ethics training at some point between the cycle of January 1, 2017 and December 31, 2018. Failure to comply with this required ethics training is a violation of a membership duty and will result in suspension and possible termination from the member’s primary Association.

Training may be completed through local associations or through another method, such as home study, correspondence, classroom courses, or online courses. Code of Ethics training is also included in CalBRE license renewal requirements, so if a member has renewed their license between January 1, 2017 and December 31, 2018, their Code of Ethics requirement is covered. If you have already taken Code of Ethics training for this period outside of California license renewal, via NAR or the California Association of REALTORS® (C.A.R.), or elsewhere, please email a copy of the certificate to  your primary Association before the deadline of December 31, 2018.

If you have not taken a Code of Ethics course since January 1, 2017, you can take the free online training offered by NAR. For more information on this mandatory NAR requirement and online classes, visit NAR CODE OF ETHICS ONLINE.

If you are uncertain as to when your license expires, please call your primary Association. The next compliance cycle will start January 1, 2019 and end on December 31, 2020.

 

The National Association of REALTORS® (NAR) is warning members about a new email scam targeting REALTORS®. An email claiming to be from “REALTOR® Party via DocuSign” and containing an attachment is being sent to REALTORS®. This email is not from NAR. Do not open any attachments or click any of the links, which may ask for passwords.

NAR will never ask you for your DocuSign credentials. Please delete this email if you see it. If you’ve opened the email and entered your DocuSign credentials, you should log into DocuSign and change your password immediately.

NAR urges its members and state and local REALTOR® associations to be on high alert for email and online fraud.

Click here for more resources and information on cyberscams and cybersecurity best practices.

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The Silicon Valley Association of REALTORS® (SILVAR) 7th Certified International Property Specialist (CIPS) Institute took place last week with 15 students registered, including SILVAR CIPS designees who took some courses for audit. REALTORS® enrolled came from around the San Francisco Bay Area and as far as Sacramento.

Interestingly enough, among the full-time REALTORS® registered, only one student was born in the U.S. The other students were born in China, Taiwan, India, and the Philippines. The composition of this year’s class says everything about the cultural diversity in Silicon Valley, according to CIPS instructor David Wyant.

This was the seventh time Wyant and his wife and assistant Patsy, returned to Silicon Valley to teach the CIPS Institute at SILVAR. The Wyants travel all over the world teaching the global real estate courses and are able to share valuable insights with their students. Wyant was named International Instructor of the Year at the National Association of REALTORS® Conference and Expo in Chicago last November. He has received the same award twice before, in 2012 and 2009.

The CIPS Institute provides training in international business issues, including currency conversion, cultural awareness, legal and tax requirements, transaction principles of international real estate, and specifics about the real estate markets in Europe, the Americas, and Asia.

Wyant said global real estate opportunities are everywhere. People move to Silicon Valley from other countries and foreign-born individuals residing here move to new markets. People here may look to invest in property overseas.

“No matter which audience you cater to, the CIPS designation will provide you with the knowledge and tools to expand your business globally,” said Wyant.

Thank you to this year’s CIPS Sponsors of the Day: Darrell Monda with TourFactory; Kyle Chuang with Farmers’ Insurance; Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc.; and Kim Kim P Nguyen and Suzette Reboton, premier mortgage consultant and vice president and senior branch manager of HSBC Bank USA, Cupertino.

SEE PHOTOS HERE

 

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