New FTC rule may impact brokerages

New FTC Rule may impact brokerages

The Federal Trade Commission (FTC) recently published a Final Rule that outlines the prohibitions on misrepresentations in any commercial communication of any mortgage credit product by non-bank financial companies. Real estate professionals fall under the non-bank financial companies category and so will be covered by the Rule. The Rule establishes clearer standards of what constitutes misrepresentation in mortgage advertising which is already prohibited by Section 5 of the FTC Act. The Rule also establishes recordkeeping requirements for commercial communication regarding mortgage credit products and went into effect August 19, 2011.

The NAR Legal Affairs department has released guidance and model disclaimer language and has made it available to members on realtor.org.

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KAR Annual Convention & Expo - only $89 thru 8/31

KAR Annual Convention & Expo
September 27 - 29
Marriott Griffin Gate Resort & Spa
Lexington, KY
Register Now

Register for only $89 thru August 31

Attendees will have a chance to win an iPad2, $500 cash, Kindle, variety of Apple products or other great prizes. The website has all the information you need to get signed up for this year's event.

Over 20 hours of CE available!

Speakers include Dave Mitchell (keynote), Gee Dunsten, Cindy Chandler, Dan Green, Mike Parker, Stewart Prather, KHC and others. Topics will cover sales strategies, legal issues, mortgages/financing, commercial, personal safety, website building, social networking and even an e-PRO course! New for this year, we will be holding an Unconference on Wednesday for top-of-mind topics that are most popular to those in attendance. And don't forget about the social events on Tuesday and Wednesday nights.

The theme is Surviving & Thriving with a luau twist. Attendees and guests are encouraged to dress the part, especially on Wednesday night for the KAR Reception and RPAC event. Exhibitors are doing the same.

Just added: Monday, September 26, KAR members, guests and family will be meeting up for a friendly round of golf at Marriott's Griffin Gate Golf Course, a Rees Jones designed course located at the hotel. Other days, special rates are being offered to attendees. For tee times, rates and other details, click here.

HUD offers REO portal

The REO Portal is a consolidated neighborhood listing and mapping tool to assist neighborhood stabilizers in identifying Real-Estate Owned (REO) properties from Fannie Mae, Freddie Mac and FHA in targeted geographies.

This tool assists neighborhood stabilizers by providing a consolidated REO listing and mapping service. Users employing HUD's Neighborhood Stabilization Program (NSP) or other resources in the targeted acquisition, rehabilitation and/or demolition of REO properties can use the REO Portal to define target geographies and receive recent listings.

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From the KAR blog:

For the latest headlines, click here or check out some of the most popular posts below:

Housing affordability remains high

10 tax tips when selling a home

5 inexpensive home updates for clients

7 steps to a healthy website

10 things to know about social media

Subscribe: You can subscribe to receive daily updates by clicking the links on the right hand side of the blog home page.

e-PRO: Tech training to stay ahead

This is the only classroom course offered in KY for 2011

Sign up now! This course will familiarize today's agents with the latest technology and social media tools to enhance business and help engage with customers and other real estate professionals.

September 27
Marriott Griffin Gate Resort & Spa
Lexington, KY
Dan Green, Instructor
This course will be held during the Convention, however, you do not have to attend Convention to take this course.

Group pricing is available for as low as $75 per person. Already have e-PRO? Refresh your skills for $75.

Approved as 3 hour CE elective credit and elective credit for CRS, ABR, GRI, CIPS and RSPS. Call KAR (800.264.2185) for more info.

Learn More and Register

GRI designation now an elective for ABR

Start on your designation journey today

To become an ABR you must complete one core course - the ABR® Designation Course - and one elective option. The newest addition to the list of ABR electives is the GRI (Graduate, REALTOR Institute) Designation. GRI Designees study new technology, laws, and procedures in order to continuously evolve and meet the needs of the increasing sophistication of buyers and sellers. This course ensures real estate practitioners can perform at an ever-increasing level of professionalism. Courses are enrolling and very affordable.

Upcoming GRI Courses: (each course counts for CE)

Sept 1 & 2: GRI 2 - Smart Marketing (Cadiz)
Sept 13 & 14: GRI 3 - Financing the Successful Trans. (Owensboro)
Oct 25 & 26: GRI 5 - Systems for Success (Northern KY)

Click here to learn more about the benefits of GRI and to see the approved CE for each class.

Know someone perfect for real estate

This online and classroom 96 hour salesperson pre-license course is approved by the Kentucky Real Estate Commission (KREC). Cost: $550. There will be 60 credit hours completed online and 36 credit hours completed in a classroom setting. Below, please find a list of course dates in your area. Both the 60 credit online hours and the 36 classroom hours equal a total of the required 96 course hours.

Upcoming dates:

Lexington, KY
Date: Oct. 1-2, 8-9, 15-16
Location: Lexington-Bluegrass Assn of REALTORS®
Time: 9am - 4pm daily

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2012 KAR election information

Deadline: September 2, 2011

Positions open: President-elect, Treasurer-elect, At-large Director (3), At-large Delegate (3), Region Director (for Regions 1,3,5) and NAR Director.

To apply for any of the available positions, fill out an application and submit to KAR. Qualifications and descriptions of each of the positions and complete instructions is included in the application packet. Elections will be held in September at the KAR Annual Convention & Expo in Lexington.

Nomination Form

If a member would like to vote in the KAR elections and will not be attending Convention, a written notice (intent to vote) can be sent to KAR now through Sept. 14. Please call 800.264.2185 for details.

KAR Director at-Large vacancy

Deadline: September 2, 2011

With the resignation of Paul Fox, Northern KY, a Director at-Large position will be open. The term runs through December 31, 2012. Interested candidates should complete the nomination form and return it to KAR by the deadline. The KAR delegate body will vote to fill this vacancy on Wednesday, September 28 prior to the Board of Directors meeting at Convention.

Nomination Form