KAR News Update

October 2013
In This Issue
KAR News
Updates from the 91st Annual KAR Convention
The 91st annual KAR Convention & Expo just wrapped up three days of productive meetings where committees discussed everything from insurance changes to state education requirements to eminent domain. This was followed up by a laugh filled keynote session by Darryl Davis and a number of timely education courses. The awards ceremony topped off the event and was filled with excitement as members from across the state were recognized for their achievements over the past year.

BOD Actions:
  • A balanced 2014 KAR budget was approved.
  • The investment policy statement was changed to optimize the return on KAR's strategic reserves. 
  • The 2014 Professional Standards Trainings will be held in Lexington, Louisville and Paducah with Jason Vaughn as the trainer. Dates for the training will be set for January and/or February. (The 2013 trainings were approved to count as credit toward the NAR Code of Ethics requirement).    
  • RPAC bylaws changes to transition from congressional district appointments for RPAC Trustees to KAR region appointments and changing the overall make-up of the RPAC Trustee body.
  • Unanimously voted to support the Kentucky Real Estate Commission's education review work group recommendations and to help push legislation related to the recommendations when necessary.   
  • The purchase of new information technology tools.
  • The purchase of two laptops for the KAR office.
  • A Bylaws change to Article VI, Section 14 referencing the change of title from EVP to CEO (read here)     

Additional Information: 

  • The KREC Selection Committee will submit the following names to the Governor for appointment of one to the Kentucky Real Estate Commission: Steve Cline (Bowling Green), Ken  Warden (Fort Thomas) and Sam Ford (Mount Vernon).
  • KREEF Trustees elected were: Earleene Woods, President-elect; Sandy Newell, Treasurer-elect; Michael Becker, Barbara Flannery, Ruth Ann Bowen and Gale Fulton.
  • Target:RPAC on Wednesday night raised a total of over $17,000 bringing the total raised in 2013 to over $131,000, just over the goal set for the year.   
  • Many thanks to KAR's outgoing leadership: Ann McDonald, Past President; Larry Gillette, Treasurer; Directors Rebecca Trout and Earleene Woods.
  • Winners of the Code of Ethics 100th Anniversary quiz were Doug Myers and Mike Inman  

Election results:

President-Elect: Norman Jones (Pikeville)
Treasurer-Elect: Michael Becker (Florence)
Region 1 Director: Sandy Newell (Madisonville)
Region 3 Director: Lamont Breland (Louisville)
Region 5 Director: Mike Spicer (Independence)

At-Large Directors:  Barbara Flannery (London), Nelson Rennekamp (Bellevue) and Libbi Taylor (Lexington) 

At-Large Delegates: Jim Broadwater (Lexington), Earleene Woods (Murray) and Charles Hinckley (Vine Grove)
NAR Director: Jeff Smith (Crescent Springs)


Post a congratulatory note on our Facebook page for the winners - click here

REALTOR® of the Year: Jim Broadwater (Lexington)
Distinguished Service Award: Linda Moore (Lexington)
Nat Sanders Award: Mike Gooch (Lexington)
Community Service Awards:
Large Board - Lexington Bluegrass Association
Medium Board - REALTOR Association of SKY
Small Board - Murray Calloway County Board
Paul Kendall Membership Growth Award:
1st - South Central Kentucky Association (8.2%)
2nd - Murray Calloway County Board (7.35%)
3rd - Cave Run Association (7.14%)
Ammerman Attendance Award: Greater Louisville Association


Check out all the photos from the event
"Like" the Kentucky REALTOR Facebook page - win $25
Be one of the first 500 people to "like" the new KAR Facebook page and be entered to win a $25 gift card. And you can keep up with what your association is doing in real-time - from legislative updates to the newest business tools to member photos.
Kentucky Homes Matter
As Kentucky continues to fight budget issues, KAR has taken a proactive approach to educating members, consumers and legislators on why home ownership is important to Kentucky. The focus begins on protecting crucial tax benefits for home ownership and keeping sales tax on services from being placed on the transfer of property. If you want to learn more, the webpage includes an advocacy toolkit while the KHM website includes information as well as a downloadable flyer. Read More
License plate for KY REALTORS - promote your industry
KAR received approval from the state to produce an official KY specialty license plate. To start production, KAR needs to have 900 applications and fees collected. This is your chance to show off your REALTOR pride and support the real estate industry. If you want to learn more or have an interest in having your own plate, check out the instructions on the webpage. Read More
Member survey results
The board with the highest percentage of members who completed the survey was the Henderson-Audubon Board with 43%. Winners of the gift cards for completing the survey were Bill Dotson (Pikeville), Bill Dunn (Paducah) and Linda Huddleston (Corbin). Did you know that 28.7% of the membership has practiced real estate for 20 or more years but that 13.3% have been in the business 2 years or less?
Housing Stats
These stats represent the market conditions for the entire state of Kentucky:

July 2013 vs July 2012
With preliminary data reported, it looks as though July will be the 25th straight month with year-over-year monthly increases in homes sold. Data is showing a 26% increase for the month with only a few boards left to report. On the pricing side, data shows a slight increase in the median price for July.
National Issues
What does the government shutdown mean for REALTORS®?
Congress has failed to approve a Continuing Resolution (CR) providing funding for most government operations. Therefore, spending authority for most of the government expired at midnight on Sept. 30, 2013. Until legislation providing for funding is signed into law, many offices and programs of the federal government are now shut down. This means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding.Read More 
HUD removes dual agency restrictions
NAR members recently received word that the U.S. Department of Housing & Urban Development would be implementing a new policy on Oct. 1, 2013, that would prevent dual agency agreements in FHA pre-foreclosure transactions. Later, HUD officials reported to NAR that they would reissue the July Mortgagee Letter (#2013-23) and remove all dual agency language (Part Three of the PFS Participation Requirements). The result is that the dual agency policy will not be implemented on Oct. 1, allowing NAR to continue the dialogue with agency officials on a formal solution to the dual agency issue. Read More 
Code of Ethics turns 100
2013 marks the 100th anniversary of the NAR Code of Ethics. Learn more about the history of the Code, how it has influenced real estate and the changes that have shaped what it is today. Read More 
Legal Matters
Disclose flood insurance requirements properly
NAR's Legal Affairs department explains how brokers and agents should properly disclose flood insurance requirements, reducing the risk of claims of misrepresentation. The video also points out helpful resources for additional information on flood insurance requirements and the National Flood Insurance Program. Read More 
Governmental Affairs / RPAC
Enrollment begins today for the state's health benefit exchange
Open enrollment across Kentucky begins this week for the state's health benefit exchange, kynect and runs through March 31, 2014, with coverage beginning as soon as Jan. 1, 2014. Open enrollment for small businesses also begins today and businesses with fewer than 50 employees will be able to choose to enroll employees in plans offered through kynect. Read More
Eminent domain bill pre-filed for the 2014 legislative session
KAR is closely monitoring the proposed Bluegrass Pipeline that will transport natural gas liquids through Kentucky. Williams and Boardwalk Pipeline Partners, LP have addressed concerns about the potential use of eminent domain along the pipeline's proposed route and stressed the fact that it is an absolute last option that is rarely used. Read More
Broker Involvement Program
Get involved in a program that will boost Kentucky's Call-for-Action response rates and you have a chance to win an iPad. Any broker currently enrolled or brokers who sign up prior to KAR's Convention will be entered in a drawing for a free iPad. If you are a real estate broker in Kentucky, enroll today - it's free and easy - and if you are an agent, please encourage your broker to join. Enroll Now
Upcoming GRI course - audit discount and you can get a freebie
That's right, if you complete your GRI designation by the end of 2014, no matter how many courses you have left to take, KREEF will reimburse you the cost of your last GRI course* (1 through 5). Even if you only have one course left to complete the program, you qualify. When you send in your completed GRI application, KREEF will send you a rebate on your last course. Call 800.264.2185 for details. *Rebate equal to the early-bird registration price.

November 14 & 15 - GRI 5: Systems for Success - Louisville, KY

Also, if you currently hold a GRI designation, you can audit any of the GRI courses (1 through 5) for only $50. By auditing a course, you not only receive updated information to help in your business, you also receive the continuing education credit associated with the course. It's a win-win!

Course Descriptions
Instructor Bios
Learn more or register for GRI courses
Appraisal courses now offered online
Appraisal courses are through McKissock Online Education and include the USPAP course as well as a selection of over 20 elective courses needed to complete the annual training requirements. The classes are approved by the Appraisal Qualifying Board (AQB) and also approved for Continuing Education by the Kentucky Real Estate Appraisers Board. Learn More
Green designation bundle - receive $35 Lowe's gift card
You receive a $35 Lowe's gift card through the end of the month when you sign up for the NAR Green designation bundle now through the end of Setember. The courses counts as a CRS, ABR and GRI elective hours and towards the RSPS certification. Register Now
SRES online course is 25% off in October
You can save 25% through the end of the month on the revised Seniors Real Estate Specialist course through NAR. The courses counts as ABR, CRS and GRI elective hours and 3 hours elective CE in Kentucky. Register Now
From the KAR Blog
For the latest headlines, click here (there are hundreds to view) or check out some of the most popular posts below: 

6 tips for using Yelp reviews

Advice that every first-time homebuyer needs in 2013

Top 10 reasons to hire a real estate agent

6 email faux pas to avoid

What every REALTOR® should know about title insurance

5 smart fixes to renovate your home

Who is representing your buyers?

You can subscribe to receive daily updates by clicking the links on the right hand side of the blog home page. Guaranteed at least one new post daily.
Affinity Partners

Contact GEICO for a free quote on insurance to see how much you could be saving. And don't forget to mention your KAR affiliation, you could qualify for an exclusive member savings opportunity.  


KAR members can save up to 30% on UPS shipping. Members currently enrolled in the UPS Savings Program must re-enroll to take advantage of this new exclusive offer.


Showing Suite
Get feedback on your listings, improve communication with your sellers, and set yourself apart from your competition with HomeFeedback®.

Drug Card

As a member, you, your family & friends may be able to lower your prescription drug costs. Simply create and print your FREE Prescription Drug Card and receive savings of up to 75% (discounts average roughly 30%) at more than 54,000 national and regional pharmacies. This card can be used as your primary plan and/or it can be used on prescriptions not covered by your insurance plan.

Nationwide Insurance
Offering you a special insurance program that could save you up to $500 with special rates on your auto policy.

Read More
KHC offers Conventional No MI program
Wouldn't your clients love to have up to another $1,000 a year? With the exclusive Kentucky Housing Corporation (KHC) Conventional No Mortgage Insurance Program (No MI), they can!

KHC's No MI comes just as the Federal Housing Administration raised the monthly Mortgage Insurance Premium factors. This program enables eligible borrowers to go up to 97 percent of purchase price without having to pay upfront or monthly mortgage insurance. Based on a purchase price of $125,000, this could mean a savings of up to $1,000 a year!* Borrowers will have access to KHC's Down payment Assistance Programs, as well! For full details and terms, visit KHC's Web site, under Lenders/Realtors, Lender Services, Conventional No MI Program

*Terms and conditions apply. Please visit KHC's Web site for full details.  
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Kentucky Association of REALTORS | kar@kar.com | http://www.kar.com | http://www.karblog.org
161 Prosperous Place, Suite 100
Lexington, KY 40509
John May, 2013 KAR President
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