You are currently browsing the category archive for the ‘Silicon Valley’ category.
Congratulations 2014 CIPS Institute graduates!
Twenty-three REALTORS® attended the National Association of REALTORS® (NAR) Certified International Property Specialist (CIPS) Institute offered at the Silicon Valley Association of REALTORS® (SILVAR) on November 17-21. Attendees included REALTORS® from SILVAR and other REALTOR® associations around the Bay Area. It was the third CIPS Institute offered by the local trade association to both members and nonmembers, providing them the opportunity to learn more about global real estate so they can better serve their international clients. Florida resident David Wyant, NAR’s 2012 and 2009 International Instructor of the Year, returned to the Bay Area to teach the week-long courses, which focused on ownership and transaction principles of international real estate, including specifics on the real estate markets in Europe, the Americas and Asia. “The great thing about teaching the CIPS classes in Silicon Valley is that the REALTORS® here ‘get it.’ Many of them are already experiencing business with international clients. Others quickly grasp the opportunity that exists here and begin to put their business plan in place to exploit it,” said Wyant. Wyant added, “Silicon Valley is a brand well known in virtually every country in the world, and our CIPS graduates report that they have experienced success reaching out to clients in their preferred ‘niche’” Sales to international buyers reached a record $92.2 billion last year, according to NAR. California, Florida, New York and Texas are the most popular states where international buyers search for properties. Upon completing the required courses and other necessary requirements, the REALTORS® have the opportunity to receive their CIPS designation at the annual REALTOR® Conference and Expo slated for November 2015 in San Diego. Since SILVAR began offering the CIPS Institute in 2012, more than 50 REALTORS® have earned the CIPS designation.
For the second year in a row, the National Association of REALTORS® (NAR) has recognized the Silicon Valley Association of REALTORS® (SILVAR) with its prestigious NAR Platinum Award as part of its Global Achievement Program. The local professional trade organization representing over 4,500 REALTORS® and affiliate members engaged in the real estate business on the Peninsula and in the South Bay, is the only REALTOR® association in Northern California to achieve Platinum status since the program’s inception in 2011.
SILVAR was one of eight REALTOR® associations in the nation that was recognized with the NAR program’s highest honor at the REALTORS® Conference and Expo held in New Orleans Nov. 7-10. SILVAR 2014 President David Tonna accepted the award on behalf of the local trade association at the International Night Event on Nov. 8.
“We are honored to receive the National Association of REALTORS® prestigious Platinum Award for two years in a row. This award reflects SILVAR’s commitment to helping our members expand and excel in the business of global real estate,” said Tonna.
SILVAR’s commitment to international real estate goes beyond members assisting foreign nationals buying property in Silicon Valley. As a membership benefit, SILVAR REALTORS® have free access to Proxio, the global networking platform that connects them with real estate agents in the U.S. and abroad and enables them to share their listings with each other. Members also have access to the Proxio Developer Showcase, which connects REALTOR® members to property developments around the world.
The local association’s global business council conducts activities and education programs to raise members’ awareness of global business in their local market. SILVAR offers NAR-accredited courses for REALTORS® seeking the At Home with Diversity certification and Certified International Property Specialist (CIPS) designation. The CIPS courses focus on ownership and transaction principles of international real estate, and provides training in international business issues, including currency conversion, cultural awareness, and legal and tax requirements. The courses also provide an analysis of the real estate markets in Europe, the Americas, and Asia.
“SILVAR is dedicated to helping our over 4,500 members serve their clients. This award is a testament to SILVAR’s accomplishments and mission to give its members the proper tools that will help them succeed in their business here and abroad,” said Executive Officer Paul Cardus.
In recognizing SILVAR, NAR noted the great strides made in SILVAR’s global initiative over the past year, its impressive CIPS (Certified International Property Specialist) designee growth during that time, the extensive outreach efforts the association conducted over the past year, and specifically its collaboration with ethnic real estate associations in the area.
The Los Gatos/Saratoga and Los Altos/Mountain View districts’ pumpkin auctions held last month raised a combined total of $8,925 for charity. Both events drew active and generous participation from members and their companies, who donated an array of beautiful pumpkin displays and fall arrangements, accompanied by big prizes for the winning bidders. Money raised from the Los Gatos/Saratoga District’s pumpkin auction, a total of $4,275, will go to Operation Reindeer, a program REALTORS® and affiliates of the district have supported for more than 20 years. The program distributes gifts, including clothing essentials and food certificates to needy families and seniors in the community during the holiday season.
Members from Los Altos and Mountain View cheered when they raised $4,650 for the Silicon Valley REALTORS® Charitable Foundation at their second annual pumpkin auction. Money raised by the district topped last year’s earnings of $3,525, thanks to the generous participation of members and brokers from both communities. The Silicon Valley REALTORS® Charitable Foundation gives grants to non-profit organizations for needy families, and scholarships to graduating high school seniors in Silicon Valley. The grants and scholarships are made possible through donations from SILVAR members.
SEE PHOTOS AND READ MORE ABOUT THE LOS ALTOS/MOUNTAIN VIEW DISTRICT PUMPKIN AUCTION
SEE PHOTOS AND READ MORE ABOUT THE LOS GATOS/SARATOGA DISTRICT PUMPKIN AUCTION
Left to right are moderator Davena Gentry, SILVAR Global Business Council chair, and panelists Amy Sung, Mark Wong, Kenneth Chan and Jessie Wu.
“Doing Business with China,” the first of a quarterly series of programs exploring different aspects of doing business with clients from other countries, was a sell-out. Hosted by the Silicon Valley Association of REALTORS® (SILVAR) Global Business Council at SILVAR yesterday, the program gave members the opportunity to learn the “nuts and bolts” from real estate professionals that have worked with Chinese clients and are familiar with the real estate rules and regulations of that country. They shared their experiences, including challenges they have encountered when closing a deal.
SILVAR Global Business Council Chair Davena Gentry served as moderator. Panelists Amy Sung, a REALTOR® with Pacific Union International Real Estate – Menlo Park, and Mark Wong, a REALTOR® with Alain Pinel REALTORS® – Saratoga, presented the REALTOR® perspective; Kenneth Chan, premier mortgage consultant with HSBC – Palo Alto, presented the lender perspective; and Jessie Wu, escrow officer with First American Title Company – Cupertino, presented the escrow perspective.
The REALTORS® discounted the myth that Chinese buyers prefer Chinese or Chinese-speaking agents. What’s important is to show respect for Chinese buyers who are not well-versed in English. Sung pointed out that just because they don’t speak English well does not mean the Chinese buyer is not educated. Wong said more important than knowing the language is to learn and respect their culture, the principles of Feng Shui, what numbers and colors mean to the Chinese.
Learn about “Doing Business with China” on Thursday, October 2, 1-2:30 p.m. at SILVAR, where panelists will share their experience with Chinese buyers and sellers. This event will focus primarily on the REALTOR®, the lender and the escrow perspectives.
Amy Sung, a REALTOR® with Pacific Union International Real Estate – Menlo Park, and Mark Wong, a REALTOR® with Alain Pinel REALTORS® – Saratoga, will present the REALTOR® perspective; Kenneth Chan, premier mortgage consultant with HSBC – Palo Alto, will present the lender perspective; and Jessie Wu, escrow officer with First American Title Company – Cupertino, will present the escrow perspective.
“Doing Business with China” is the first of a quarterly series of programs that will explore different aspects of doing business with clients from other countries. This educational event will give members the opportunity to learn the “nuts and bolts” from real estate professionals that have worked with Chinese clients and are familiar with the real estate rules and regulations of the country. They will share their experiences, including challenges they have encountered when closing a deal.
Cost is $10 for members and $15 for nonmembers, if registered by Wednesday, October 1. Cost is $20 at the door. Chinese dessert snacks will be served at this event. Members may register at ims.silvar.org or call SILVAR at (408) 200-0100.
Each year in September, both the National Association of REALTORS® (NAR) and SILVAR remind members to keep REALTOR® safety foremost in their mind, especially when hosting an open house and during showings. Open houses can be a great sales tool, but hosting one also exposes you to numerous unfamiliar people for the first time.
There have been cases reported across the nation of REALTORS® who have been harmed or killed when alone during an open house. Take the necessary steps to ensure that your open house will be successful. If possible, always try to have at least one other person working with you at the open house.
1. Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial.
2. Upon entering a house for the first time, check all rooms and determine several “escape” routes. Make sure all deadbolt locks are unlocked to facilitate a faster escape.
3. Make sure that if you were to escape by the back door, you could escape from the backyard. Frequently, high fences surround yards that contain swimming pools or hot tubs.
4. Have all open house visitors sign in. Ask for full name, address, phone number and email.
5. When showing the house, always walk behind the prospect. Direct them; don’t lead them. Say, for example, “The kitchen is on your left,” and gesture for them to go ahead of you.
6. Avoid attics, basements, and getting trapped in small rooms.
7. Notify someone in your office, your answering service, a friend or a relative that you will be calling in every hour on the hour. And if you don’t call, they are to call you.
8. Inform a neighbor that you will be showing the house and ask if he or she would keep an eye and ear open for anything out of the ordinary.
9. Don’t assume that everyone has left the premises at the end of an open house. Check all of the rooms and the backyard prior to locking the doors. Be prepared to defend yourself, if necessary.
(Sources: Washington Real Estate Safety Council; City of Mesa, Arizona; Nevada County Board of REALTORS®; Georgia Real Estate Commission)
Visit NAR’s REALTOR® Safety website at http://www.REALTOR.org/Safety
In light of the 6.0 magnitude earthquake that struck the Napa Valley region last Sunday, the Silicon Valley Association of REALTORS® (SILVAR) is reminding homeowners to follow earthquake safety measures so they will be prepared when another earthquake strikes again.
“Majority of Californians live within 20 miles of a major earthquake fault, yet most of us tend to be lackadaisical about earthquake safety. Being prepared could save your life,” stressed SILVAR President David Tonna.
According to the Governor’s Office of Emergency Services, major earthquakes registering magnitudes between 6.3 and 8.3 have occurred in California every 5.4 years, on average, for the past 200 years. The U.S. Geological Survey estimates there is a 90 percent chance that a major earthquake will strike an urban area in California within the next 30 years.
Additionally, a 2010 California Earthquake Preparedness Survey conducted by the UCLA School of Public Health found fewer than 20 percent of households have structurally reinforced their homes or had their homes inspected for earthquake resistance; only 40 percent keep the recommended minimum of three gallons of water stored per person; and only 40 percent of Californians have made family disaster plans.
SILVAR shares the following important earthquake safety measures from FEMA’s Ready Campaign site, California’s Department of Conservation and the U.S. Geological Survey:
Identify Potential Hazards in Your Home and Fix Them
• START NOW by moving furniture away from beds, sofas, or other places where people sit, sleep, or spend a lot of time. Move heavy objects to lower shelves. Move flammable or hazardous materials stored in garages and utility rooms to low, more secure areas.
• Retrofitting before an earthquake is relatively cheap, and could reduce damage and save you money.
Create a Disaster Supply Kit and keep it in an easily accessible location.
• First aid supplies, with medications not requiring refrigeration, including spare eyeglasses and essential hygiene items
• Drinking water (minimum one gallon per person per day)
• Whistle (to alert rescuers to your location)
• Emergency cash in small bills (ATMs may not work)
• Snack foods high in calories, canned and packaged foods and cooking utensils, including a manual can opener. Include food and a leash or carrier for your pet.
• A working flashlight with extra batteries.
• Baby formula, disposable diapers, baby wipes, bottles, pacifiers, powdered milk for infants and comfort items for your children, like stuffed animals and other toys
• A battery-operated radio (and spare batteries).
• Warm clothing, gloves, sturdy shoes, extra socks, blankets/sleeping bags
• Heavy-duty plastic bags for waste and other uses
• A-B-C type fire extinguisher
• Copies of vital documents, such as insurance policies, personal identification, medical consent forms for dependents.
Replace perishable items on a yearly basis.
Create a Disaster Preparedness Plan
Decide how and where your family will reunite if separated during a quake. Select an out-of-state friend or relative to call and alert other relatives and friends that you are all right.
During an Earthquake, Drop! Cover! and Hold On!
You cannot tell from the initial shaking of an earthquake if it will suddenly become intense, so drop to the ground, take cover by getting under a sturdy desk or table, and hold on to your shelter until the shaking stops.
The National Association of REALTORS® (NAR) has announced that the new .REALTOR® top-level domain will be available October 23, 2014 to members of NAR and the Canadian Real Estate Association (CREA).
With the Internet undergoing vast changes, the creation of over 1,900 new top-level domains, and with nine out of 10 recent buyers beginning their home search online, it has become even more critical for REALTORS® to create a branded space online. The .REALTOR® domain will help REALTORS® stand apart from other real estate professionals, creating a more positive online experience for consumers who are searching for information on buying or selling property. Having a .REALTOR® domain will inform consumers that they are working with a REALTOR®, a trusted real estate professional who subscribes to NAR’s strict Code of Ethics.
The top-level domain will be made available only to real estate professionals who are REALTORS®, members of NAR or CREA. The domain will also be made available to state and local REALTOR® associations, association multiple listing services, affiliated institutes, societies and councils and NAR strategic business partners.
Starting October 23, members will be able to go to http://www.claim.REALTOR to claim their .REALTOR® domain. NAR will provide the first 500,000 members NAR and 10,000 CREA who register for a .REALTOR® domain with a free one-year license. For more information, visit http://www.about.REALTOR.
Call Your Senator TODAY!
The California Association of REALTORS® (C.A.R.) is OPPOSING AB 2416 (Stone), a bill that creates a new kind of lien for wage claim disputes. C.A.R. opposes AB 2416 because it denies due process to the owner of the property, and unnecessarily clouds title. The bill was just passed by the Senate Appropriation Committee and could make it to the Senate floor by Monday, August 18. Ask your Senator to vote NO on AB 2416.
Under existing law, trades people and others who have conducted work to improve a property have the right to record a mechanics lien against the property for payment for that work. This bill is not like a mechanics’ lien. If an employee has a wage dispute with their employer there are multiple legal remedies available to them to seek fair compensation. This is a new and different remedy.
AB 2416 seeks to create a new wage lien, without the procedural protections of the mechanics lien so that an employee may record a lien against any property owned by the employer, even property that has NO connection to the dispute. The new rule purports to exempt principal residences, but the bill invites “shotgun” recordings that will hit all properties.
There are already existing legal remedies for wage disputes. Between arbitration, grievance processes, and lawsuits, employees already have sufficient legal options at their disposal to address wage disputes without chilling the availability of mortgage finance and unnecessarily clouding title.
SILVAR is offering a paperless option for individuals who would like to enroll in the November 17-21 Certified International Property Specialist (CIPS) Institute. The paperless option will cost $550 for the entire Institute instead of $600, the regular cost with hard copy of the course manuals.
Students who select the paperless option will need to come to class with their electronic device (laptop or tablet). They will be asked to download the required materials prior to their arrival. A link to the materials will be provided to each student.
The CIPS Institute provides training in international business issues, including currency conversion, cultural awareness, legal and tax requirements, ownership and transaction principles of international real estate, and specifics about the real estate markets in Europe, the Americas, and Asia. Members using Proxio, which is a SILVAR benefit, may find the CIPS courses very useful in advancing their global real estate business.
The week-long CIPS Institute includes the two required core courses and three elective courses, which fulfill the classroom requirements for the CIPS designation. Students must pass a multiple-choice exam at the end of each course.
Spend the week learning how you can profit being an international real estate specialist from 2012 NAR International Instructor of the Year David Wyant. Wyant has taught two previous CIPS Institutes at SILVAR and received excellent reviews.
Regular cost of the five-day program is $600, which includes hard copy of the course material. Members may enroll online at ims.silvar.org. Non-members may register by calling SILVAR at (408) 200-0100.
Those interested in registering for the paperless version, may contact SILVAR at (408) 200-0100 or SILVAR Public Affairs & Communications Director Rose Meily at rmeily@silvar.org or call (408) 200-0109. Cost for an individual course for either option is $150.
Sponsorships for the CIPS Institute are available for each class day. Thank you in advance to Wednesday and Friday sponsors Kenneth Chan of HSBC and Richard Miller of ExecutiveLoanOfficer.com.
Silicon Valley Association of REALTORS® says ... 