Silicon Valley Association of REALTORS® says ...

REALTORS® will help seniors with household tasks May 2-6

February 12, 2016 in Real Estate, REALTOR® Service Volunteer Program (RSVP), Silicon Valley, Silicon Valley Association of REALTORS® | Tags: senior homeowners, Silicon Valley Association of REALTORS®, Silicon Valley REALTORS® | Leave a comment

RSVP_logo_2004(SILVAR) CORRECT ONE

Seniors and the homebound residing on the Peninsula and in the South Bay may request free assistance with household tasks through the REALTOR® Service Volunteer Program (RSVP) during the week of May 2-6. RSVP is offered each year in the month of May by REALTOR® and affiliate members from the Silicon Valley Association of REALTORS® (SILVAR) and neighboring REALTOR® associations to qualified seniors who cannot perform certain household tasks due to physical or financial constraints. The deadline for seniors to apply for this free assistance is April 8.

“RSVP is our way of thanking our seniors for all they have done for our communities,” said Eileen Giorgi, SILVAR’s RSVP Committee chair. “Through the RSVP program, REALTORS® and affiliates can make the difference between a senior remaining independent as a homeowner or renter, or having to give up that independence to some form of caregiving and dependence on strangers,”

During RSVP Week teams of REALTORS® and affiliates (professionals who provide industry-related services) will visit senior households and perform various cleaning and maintenance tasks free of charge. Seniors can request to have light bulbs replaced, furnace filters changed, windows cleaned, mattresses turned, new smoke detector batteries installed, and other light housekeeping tasks.

The annual community service program was started by members of SILVAR in 2001, and adopted as an official association community outreach project the following year. The program has since expanded to neighboring REALTOR® associations. Last year 130 volunteers from SILVAR assisted 97 senior households in the Menlo Park/Atherton, Palo Alto, Los Altos/Mountain View, Cupertino/Sunnyvale and Los Gatos/Saratoga communities.

Seniors residing in the communities of Atherton, Menlo Park, East Palo Alto, Palo Alto, Woodside, Portola Valley, Los Altos, Los Altos Hills, Mountain View, Cupertino, Sunnyvale, Santa Clara, Campbell, Saratoga, Monte Sereno and Los Gatos may apply for this free service by contacting the Silicon Valley Association of REALTORS® at (408) 200-0100 for information and an application. Seniors may also visit www.silvar.org to download an application and submit to SILVAR before the April 8 deadline.

REALTOR® Safety Alert!

January 29, 2016 in National Association of REALTORS®, Real Estate | Tags: REALTORS® Safety | Leave a comment

REALTORS® need to be watchful and always take safety precautions when they host an open house. Recently, it was reported that a visitor at an open house in Willow Glen was caught on a Nest security camera going through all the drawers and closets of the homeowner. The female visitor had told the REALTOR® she had a child sleeping in the car and asked if the REALTOR® could watch the car out the front door while she looked at the home. The individual then proceeded to enter the master bedroom, bathroom and bedroom and was caught on camera going through the nightstand drawers, dresser drawers and closets looking for valuables. Fortunately, the owners had locked away their valuables prior to the open house, so nothing was stolen.

These days with the short supply of homes for sale and rising rents, many buyers are scrambling to buy homes and this has caused more traffic at open houses. REALTORS® hosting an open house need to be on the alert. Open houses can be a great sales tool, but hosting one exposes you to unfamiliar people, and while more traffic increases the potential for crime.

Below is a list of safety tips for both REALTORS® and their clients from the National Association of REALTORS® Safety Resources Kit:

Remind your clients that strangers will be walking through their home during showings or open houses. Tell them to hide any valuables in a safe place. For security’s sake, remove keys, credit cards, jewelry, crystal, furs and other valuables, including expensive electronics like computers and laptops, from the home or lock them away during showings. Also remove prescription drugs and don’t leave personal information like mail or bills.
If possible, always try to have at least one other person working with you at the open house.
Check your cell phone’s strength and signal prior to the open house. Have emergency numbers programmed on speed dial.
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.
Have all open house visitors sign in. Ask for full name, address, phone number and email.
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.
Avoid attics, basements, and getting trapped in small rooms.
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.
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.
Be alert to the pattern of visitors’ arrivals, especially near the end of showing hours. In some areas, a group of thieves will show up together near the end of the open house and, while a string of “potential buyers” distracts the agent, the rest of the group walks through the house, stealing any valuables they come across.

Visit NAR’s REALTOR® Safety website for more safety tips at www.REALTOR.org/Safety.

2016 Silicon Valley REALTORS® leadership team installed

January 15, 2016 in National Association of REALTORS®, Real Estate, Silicon Valley, Silicon Valley Association of REALTORS® | Tags: Amy Sung, Brett Caviness, Cassie Maas, Chris Isaacson, Davena Gentry, David Hunt, David Tonna, Denise Welsh, Don Faught, Eileen Giorgi, Eric Temple, Gene Lentz, Jeff Barnett, Jeff Bell, Jim Hamilton, Karen Trolan, Katherine Frey, Paul Cardus, Phyllis Carmichael, Rian Nunnally, Suzanne Yost | Leave a comment

2016 BOD

The 2016 Silicon Valley Association of REALTORS® (SILVAR) leadership team was installed Thursday night at La Rinconada Country Club in Los Gatos. California Association of REALTORS® 2013 President Don Faught administered the oath of office to SILVAR’s new president, officers and board of directors. C.A.R. 2005 President Jim Hamilton served as master of ceremonies and welcomed about 180 members and guests to the special event. Alain Pinel REALTORS® Vice President/Regional Manager Jeff Barnett led everyone in the Pledge of Allegiance and delivered the inspiration message.

Karen Trolan, a REALTOR®, broker and assistant manager of the Alain Pinel REALTORS® Los Gatos office, was installed as 2016 President; Denise Welsh, a REALTOR® with Alain Pinel REALTORS®, Los Altos, President-elect; and Phyllis Carmichael, a REALTOR® with Coldwell Banker Residential Brokerage, Los Altos, Treasurer.

Joining SILVAR’s lead officers as this year’s board directors are Chris Isaacson (Coldwell Banker), past president; David Tonna (Alain Pinel REALTORS®), Region 9 Chair; Brett Caviness (Coldwell Banker), Menlo Park/Atherton District Chair; Amy Sung (Pacific Union International Real Estate), Palo Alto District Chair; Katherine Frey (Alain Pinel REALTORS®), Los Altos/Mountain View District Chair; David Hunt (W.A. Krauss & Co. Property Management), Cupertino/Sunnyvale District Chair; Suzanne Yost (Alain Pinel REALTORS®), Los Gatos/Saratoga District Chair; and Directors At-large Jeff Bell (Coldwell Banker Residential Brokerage), Davena Gentry (Sereno Group), Eileen Giorgi (Sereno Group), Gene Lentz (Keller Williams Realty), Cassie Maas (Alain Pinel REALTORS®), Ryan Nunnally (Alain Pinel REALTORS®); and Affiliate Chair, Eric Temple (Willow Glen Organics).

Trolan is a Los Gatos resident and has been a REALTOR® and broker for 30 years. She began her real estate career with Van Vleck REALTORS® and continued on with Cornish & Carey and later Coldwell Banker Residential Brokerage. From top agent, Trolan moved up the ranks quickly to vice president and manager of the Cornish & Carey’s Palo Alto Midtown office, vice president/managing broker for the Los Altos office, and finally, when Coldwell Banker bought Cornish and Carey, Trolan was named senior vice president and regional manager of Silicon Valley Coldwell Banker Residential Brokerage.

Despite suffering severe injuries from a tragic airplane accident in 2009 that left her paralyzed from waist down, Trolan through sheer perseverance and hard work went back to doing most of the activities she did before the accident. In April 2011, Trolan joined the Alain Pinel REALTORS® Los Gatos office, where she is currently assistant manager, responsible for agent improvement, community involvement and other special projects.

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Silicon Valley REALTORS® applaud bill extending important real estate-related tax provisions

January 7, 2016 in Real Estate | Tags: mortgage debt forgiveness, real estate-related tax provisions | Leave a comment

The Silicon Valley Association of REALTORS® joins other local and state REALTORS® associations and the National Association of REALTORS® (NAR) in praising Congress for passing and the President for signing into law sweeping legislation of more than 2,000 pages to fund the Federal Government for Fiscal Year 2016. The new legislation will put an end to the series of stop-gap funding measures known as “Continuing Resolutions” that have funded the government since the start of FY2016 on October 1, 2015. This new bill will expire in September 2016.

A significant piece of the tax legislation includes the extension of a number of expired tax provisions important to supporting homeowners and real estate investment, such as Mortgage Debt Forgiveness, Mortgage Insurance Premium Deductibility, Immediate Expensing of Business Equipment and Certain Real Estate, Charitable Deduction for contributions of real property for conservation purposes, Foreign Investment in Real Property Tax Act (FIRPTA), Energy Tax Credit for New Homes, National Flood Insurance Program.

NAR sent a letter to House and Senate tax-writing committees as the final package was being developed to ask for support on maintaining these key provisions. “These tax extenders offer critical support for consumers, homeowners, commercial property investors and small businesses alike,” said Tom Salomone, 2016 NAR president. “We’re grateful for the leadership shown on this important piece of legislation and look forward to continuing our work in support of homeownership.”

Extending tax relief for mortgage debt forgiveness as a win for REALTORS®, according to Salomone, because this provision protects underwater homeowners from incurring a large tax bill on phantom income in connection with a workout or a short-sale. Since 2007, this tax relief has strengthened individual communities and the broader economy as more distressed homeowners were offered the flexibility to responsibly address an underwater mortgage. The tax extenders deal offers an additional two years of protection covering tax years 2015 and 2016.

The bill also includes a permanent extension of a 15-year cost recovery period for the depreciation of qualified leasehold improvements. This provision ensures that a commonsense cost-recovery period remains permanently in place for improvements made to nonresidential commercial property.

The real estate-related provisions likewise include the renewal of certain incentives to promote energy efficient commercial and multifamily buildings. Similarly, an expired tax credit of between $1,000 and $2,000 for energy-efficient new homes is extended for an additional two years under the bill.

The legislation permanently extends rules allowing small–and mid–sized businesses to immediately expense business equipment, rather than depreciate the equipment over several years. This is important to Realtors who are independent contractors and purchase new computers, copiers, cameras and even vehicles in the course of doing business.

Finally, the tax bill includes changes to the Foreign Investment in Real Property Tax Act (FIRPTA) that will ease restrictions on investment in commercial real estate.

Silicon Valley REALTORS® learn about doing business in the Philippines

January 7, 2016 in Certified International Property Specialist (CIPS) Institute, National Association of REALTORS®, Real Estate, Silicon Valley, Silicon Valley Association of REALTORS® | Tags: Arlene Posadas, Bernard Umali, Chamber of Real Estate and Builders' Associations Inc., Connie Castellano, Evangeline Yia, International REALTOR® Members, Jennifer Tasto, Mark Wong, Philippines | Leave a comment

“Doing Business in the Philippines,” hosted by the global business council of the Silicon Valley Association of REALTORS® in November, attracted more than 40 association members and guests. The Philippines is Asia’s second fastest growing economy today and the business of real estate there is booming, according to Philippine-based real estate agents.

The program, moderated by National Association of REALTORS® President’s Liaison to the Philippines Jennifer Tasto, had as panelists International REALTOR® Members from the Philippines from the Chamber of Real Estate and Builders’ Associations Inc. (CREBA). CREBA is the Silicon Valley Association of REALTORS®’ cooperating real estate association. It is the largest real estate umbrella organization in that country. The delegation included Bernard Umali, Evangeline Yia, Arlene Posadas and Connie Castellano. Their presentations focused on buying and selling property, estate settlement, project selling, ownership of land and registering property in the Philippines.

The Filipino REALTORS® said Philippine real estate is one of the best businesses today. They said the country has an estimated population of 101 million people. Top buyers of Philippine property are early nesters due to the country’s young population, business process outsourcing workers, overseas Filipino workers and investors.

Why buy real estate in the Philippines? They said the Philippine economy rebounded with a growth of 5.6 percent in the second quarter of 2015, defying a regional slowdown which has affected countries like China and Japan.

“Filipinos are among the most globally connected in the world,” said Tasto.

Tasto said over 10 percent of Filipinos (an estimated 10 million people) live outside the Philippines and work in over 150 countries. Overseas Filipino worker remittances are at a record high, posting $26.93 billion in 2014. Of this money, 60 percent is devoted to real estate investment.

The cost of real estate in the Philippines is much more affordable than in other Asian countries, along with the rate of return on investments, added Tasto. The panelists also indicated growth in business process outsourcing and tourism has spurred real estate sales.

The Filipino REALTORS® noted bank real estate loans hit $24.47 billion in 2014, fueled by sustained demand for new homes and office space. The migration rate in Manila also has made the country’s capital a favored location for residential condominiums.

Cybercriminals targeting real estate transactions

December 18, 2015 in National Association of REALTORS®, Real Estate, Silicon Valley Association of REALTORS® | Tags: cybercriminals, phishing, spear phishing | Leave a comment

Small real estate businesses, agents and their clients are increasingly becoming targets of sophisticated cyber scammers, according to panelists at a risk management forum at the 2015 National Association of REALTORS® (NAR) Conference & Expo held last month in San Diego. The panelists discussed potential threats and offered tips for agents to protect themselves, their business, and their clients from cyberattacks.

NAR technology policy expert Melanie Wyne said the news often focuses on large companies falling victim to hackers, but small businesses, which often lack the vast technology and legal teams of larger businesses, actually experience majority of attacks.

“Small businesses need to pay just as much attention as large companies to possible cyber threats,” said Wyne.

Darity Wesley, founder of the Lotus Law Center, said hackers are seeking personal identifiable information, such as credit card or bank account information, login credentials, employment details or a physical address, email address, and phone or social security number.

“Identity thieves can do a lot of damage with this information; your credit and whole life could be ruined,” warned Wesley.

Wyne said businesses can suffer financial harm from expenses resulting from a data breach, legal risks from lawsuits from clients or others impacted by the hack, and reputational risks from having to publicly disclose the hack. While cloud and free public Wi-Fi services are convenient for business, they are never completely secure.

Wyne recommended researching the level of security these companies are employing before using their services and storing information or documents into them. She also recommended agents ask these services to be indemnified in case the service is hacked. Anyone using a free email service for business should encrypt emails with client data.

Jessica Edgerton, NAR associate counsel, said in recent months, real estate professionals have reported an upswing in spear phishing, a particular wire scam where a hacker breaks into an agent’s email account and obtains information about an upcoming real estate transaction. After monitoring the account, the hacker will send a mock email to the buyer as they near closing, posing as the agent or someone from the title company and requesting that the buyer wire transaction-related funds.

Edgerton related one situation in which a first-time buyer lost $13,000 when they wired funds to what they thought was the title company. Another attempt to scam a buyer in the Philippines out of $800,000 was intercepted on its way to Russia.

Edgerton recommended agents inform their clients at the beginning of any transaction about this scam. If buyers receive an email about wiring funds, they should immediately call their agent on the phone and confirm.

“It’s a fail-safe measure to call first before you send the money,” said Edgerton.

Wesley added, “It is good basic practice and most important to always communicate with your buyer.”

Although NAR has been advocating a uniform federal law for years, the majority of laws currently governing data security are at the state level, so it is important for agents to know the state laws regarding data security and privacy that affect their organization. California adopted the first data security breach notification law in 2003. Nearly 40 other states have since adopted similar laws modeled after the California law.

The panelists recommended strong passwords, developing a data security program, and implementing safeguards to protect private data. A privacy policy disclosing some or all of the ways the business collects, shares, protects, and destroys personal client information is also good business practice.

The panelists emphasized in today’s Internet world, “you are never completely secure.” With cybercriminals becoming more sophisticated, businesses constantly need to keep abreast of new data security enhancements.

Silicon Valley Association of REALTORS® Earns Third NAR Platinum Award for Global Achievement

November 25, 2015 in Certified International Property Specialist (CIPS) Institute, National Association of REALTORS®, Real Estate, Silicon Valley, Silicon Valley Association of REALTORS® | Leave a comment

SILVAR Executive Officer Paul Cardus, NAR Director Leannah Hunt, SILVAR President Chris Isaacson and President-elect Karen Trolan (seated) proudly show the NAR Platinum Award for Global Achievement they received on behalf of SILVAR’s Global Business Council at the NAR REALTOR® Conference & EXPO in San Diego this month.

SILVAR leadership with CREBA members and NAR manager of Global Business Development and Outreach Joe Schneider and NAR President’s Liaison to the Philippines Jennifer Tasto (both far left) celebrate their awards.

For the third year in a row, the Silicon Valley Association of REALTORS® (SILVAR) has earned the National Association of REALTORS® (NAR) Platinum Award for Global Achievement. The platinum award is the highest distinction presented by NAR to an association for having demonstrated through its global business council exceptional commitment to building members’ awareness of the global and multicultural business opportunities in their local markets.

SILVAR, a 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 association in Northern California to achieve platinum council status since the program’s inception in 2011. NAR stated SILVAR’s global council “demonstrated the utmost commitment to helping members capture their share of the global real estate market in the United States.” SILVAR leadership received the prestigious award at a special international dinner during the Nov. 13-16 NAR REALTORS® Conference and Expo in San Diego.

“We are honored to receive the National Association of REALTORS® prestigious platinum award for three years in a row. SILVAR is committed to continuing to provide our members with the proper tools that will help them expand and excel in their business here and abroad,” said SILVAR Executive Officer Paul Cardus.

Under the leadership of 2015 Global Business Council chair Mark Wong, a REALTOR® with Alain Pinel Realtors Saratoga, SILVAR’s global business council conducted a number of activities and education programs to raise members’ awareness of global business in their local market, including programs on China, Mexico, India and the Philippines, as part of its “Doing Business With” quarterly series. Also this year, SILVAR conducted its fourth Certified International Property Specialist (CIPS) Institute, attended by 31 REALTORS® from around the Bay Area, Southern California and Arizona. The CIPS Institute is a full-week program that includes courses analyzing the international business climate, including capital flow, currencies, government regulations and cultures and conducting real estate transactions with clients from Europe, Asia and the Americas.

SILVAR partners with other real estate associations throughout the year to promote awareness and education in global real estate, and continues its role as NAR Ambassador Association to the Philippines. The Chamber of Real Estate and Builders’ Associations Inc. (CREBA), SILVAR’s cooperating real estate association in the Philippines and the largest real estate umbrella organization that country, also was honored at the event. SILVAR member Jennifer Tasto is the NAR President’s Liaison to the Philippines.

SILVAR’s commitment to international real estate goes beyond members assisting foreign nationals buying property in Silicon Valley. As a membership benefit, SILVAR REALTOR® members have free access to Proxio, the global networking platform that connects them with real estate agents domestically and abroad and enables them to share their listings, including property developments here and abroad.

Among the 110 REALTOR® global councils operating nationwide, only 17 were named platinum councils. SILVAR is one of three REALTOR® associations that has been awarded the top award for three consecutive years.

REALTORS® find multilingual is ‘new normal’ in U.S. households

November 13, 2015 in Real Estate | Tags: Certified International Property Specialist (CIPS) Designation, Janet Case, Proxio, Silicon Valley Association of REALTORS® | Leave a comment

Proxio CEO Janet Case says knowing the languages spoken by clients helps REALTORS® better serve them.

What language do you speak in your home? New information from the U.S. Census Bureau shows while most of the nation’s population speaks English at home, at least 350 other languages are spoken in U.S. households. In fact, 20 percent of U.S. families do not speak English at home.

“Multilingual is the new normal across the U.S.,” said Janet Case, CEO Proxio, an international networking platform that connects real estate agents and their listings, including real estate developments, around the world.

Speaking at the Silicon Valley Association of REALTORS® (SILVAR) 4^th Certified International Property Specialist Institute in October, Case said according to the latest Census Bureau data, 20 percent of U.S. families speak a language other than English at home. In California, the percentage is higher – 43 percent. Other states with the most non-English speaking households are Texas, 34.2 percent; New York, 29.8 percent; Nevada, 28.2 percent; Arizona, 27.1 percent; and Florida, 26.6 percent.

Cities with the most non-speaking households are Miami, 71.9 percent; Los Angeles, 59.7 percent; New York City, 48.7 percent; San Francisco, 45.4 percent; and Chicago, 35.3 percent.

The Census Bureau information, based on American Community Survey data collected from 2009 to 2013, tabulated the number of languages and language groups to 350. The tables provide the most comprehensive data on languages spoken less widely in the nation, such as Pennsylvania Dutch, Ukrainian, Turkish, Romanian, Amharic and many others.

“While most of the U.S. population speaks only English at home or a handful of other languages like Spanish or Vietnamese, the American Community Survey reveals the wide-ranging language diversity of the United States,” said Erik Vickstrom, a Census Bureau statistician. “For example, in the New York metro area alone, more than a third of the population speaks a language other than English at home, and close to 200 different languages are spoken. Knowing the number of languages and how many speak these languages in a particular area provides valuable information to policymakers, planners and researchers.”

In the San Francisco metro area, at least 163 languages are spoken at home, with 40 percent of the metro area population age five and over speaking a language other than English at home. One of the smaller language groups found there is Panjabi, with 19,985 speakers.

In the Los Angeles metro area, at least 185 languages are spoken at home, with 54 percent of the metro area population age five and over speaking a language other than English at home. One of the smaller language groups found there is Indonesian, with 12,750 speakers.

Case said as foreign buyers continue to look at Silicon Valley property, “global marketing matters.” Knowing the languages spoken by clients helps REALTORS® better serve them.

Proxio, which is a free benefit for members of SILVAR, translates agents’ listings in 19 languages, 55 currencies and metric measurements. In addition to activating Proxio, Case said REALTORS® seeking to break into global real estate can market “international” as their specialty by including the U.S. country code with their phone number and languages they speak in their website and business cards and partner with agents who speak other languages.

Silicon Valley REALTORS® district pumpkin auctions raise money for charity

October 16, 2015 in Real Estate | Leave a comment

Los Gatos/Saratoga District Pumpkin Auction on Wednesday, Oct. 14.

Members of the Silicon Valley Association of REALTORS® (SILVAR) continue to help those in need in their communities, especially around this time, as the holidays draw near. The SILVAR Los Gatos/Saratoga District Pumpkin Auction on Oct. 14 raised over $3,600 for Operation Reindeer, thanks to all donations of time, effort and money from SILVAR members and their companies.

Thank you Chris Morris (Alain Pinel REALTORS® – Los Gatos) for serving as auctioneer, Mary Kay Groth (Sereno Group – Los Gatos) and Diane Chandler (Alain Pinel REALTORS® – Los Gatos) for organizing the fun event, and Leslie Butlar for helping keep track of the winners. Kudos to Diane, who made many of the pumpkin centerpieces!

Many thanks for the contributions from the following companies: Keller Williams, Alain Pinel Realtors, Opes Advisors, Coldwell Banker, Intero Real Estate, Sereno Group, Montalvo Realty, and the individuals that donated the items and members who generously bid on them!

REALTORS® and affiliates of the Los Gatos/Saratoga District have supported Operation Reindeer for years. The program distributes gifts, including clothing essentials, to needy families and seniors in the community during the holiday season. The program is funded through proceeds from the District’s annual Pumpkin Auction and individual donations from the REALTORS® and affiliates. In addition to monetary contributions, many members volunteer their time to shop, wrap and distribute presents and food certificates to families.

Today, Oct. 16, members of SILVAR’s Los Altos/Mountain View District had their auction were able to raise over $3,000, which will go to the Silicon Valley REALTORS® Charitable Foundation, which distributes donations and grants to nonprofits that serve low-income families in the communities in SILVAR’s service area.

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The Los Altos/Mountain View District Pumpkin Auction this morning, with Owen Halliday (Sereno Group) as auctioneer.

Silicon Valley Association of REALTORS® concludes 4th CIPS Institute

October 9, 2015 in Real Estate | Tags: AFEX (Associated Foreign Exchange), Anita Rodal, Certified International Property Specialist (CIPS) Designation, CIPS Institute, Darrell Monda, David Wyant, Farmers Insurance, HSBC, Janet Case, Joe Schneider, Kenneth Chan, Kyle Chuang, National Association of REALTORS® (NAR), Patsy Wyant, Proxio, SBPI Services, Silicon Valley Association of REALTORS®, SILVAR Global Business Council, TourFactory Bay Area | Leave a comment

Congratulations SILVAR 2015 CIPS graduates!

The Silicon Valley Association of REALTORS® (SILVAR) 4^th CIPS (Certified International Property Specialist) Institute ended on Tuesday. This year’s Institute had a total enrollment of 31 students. SILVAR welcomed back instructor David Wyant and his wife and assistant Patsy Wyant.

This year’s students were a very diverse and well-traveled group from all over the Bay Area, Southern California and Arizona. Once the students complete and submit their CIPS applications to the National Association of REALTORS®, they can receive their CIPS designation and get pinned at the NAR Conference and EXPO, which will be held in San Diego November 13-16.

A highlight of the last day was a visit by Joe Schneider, NAR manager of Global Business Development and Outreach. Schneider spoke to the students about the value of the CIPS designation, especially in Silicon Valley, which continues to attract many international buyers.

At the end of the last course, SILVAR’s Global Business Council hosted a CIPS Reception, which was also attended by SILVAR CIPS designees, who shared their global real estate experiences with the students. Jennifer Tasto, NAR Liaison to the Philippines, also reported on the International REALTOR® Conference held in the Philippines and NAR’s project to build a REALTOR® village for Super Typhoon Hainan victims there.

The success of this year’s CIPS Institute would not be possible without our generous CIPS Sponsors of the Day. Each sponsor had very informative presentations.

Darrell Monda, owner of TourFactory Bay Area, took students on a virtual tour of homes, a platform that works as a very good marketing tool, especially for foreign buyers who cannot physically be at a property they are interested in purchasing. TourFactory has certified aerial photographers and is the only company in Northern California that has a waiver from the FAA to use drone photography in its business.

The students enjoyed Kyle Chuang’s presentation, which included tips on how to take a multiple choice exam, a requirement at the end of each class day. Chuang, who is with Farmers Insurance, also tested students on home insurance information helpful for their clients.

Janet Case, CEO of Proxio, introduced the REALTORS® to the international networking platform that links REALTORS® and their listings with other agents around the world, including real estate developments. Proxio translates listings in 19 languages, 55 currencies and metric measurements. Case said studies show 20 percent of U.S. families do not speak English at home. In California, the percentage is higher – 43 percent. Proxio is a free benefit for SILVAR REALTORS® who are members of MLSListings Inc.

Kenneth Chan, premier mortgage consultant with HSBC, focused on how foreign buyers who don’t fall under the 2-2-2 rule (provide a two-year U.S. residency, two-year work history and two-year credit history) can qualify for a mortgage loan, other obstacles foreign buyers face, and success stories.

Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc., educated the students on foreign currency exchange and SBPI Services’ captive insurance program, which enables Chinese investors to take millions of dollars out of China and invest the money from the policy in real estate.

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Silicon Valley Association of REALTORS® says …