KAR News Update
February 2014
Top Stories
REALTOR® voices were heard
Nearly 250 REALTORS® from across the Commonwealth turned out for the 2014 KAR Legislative & Business Meetings, which was designed to support legislation and issues important to real estate in Kentucky, by meeting with members of the Kentucky General Assembly.

Much was packed into the three days of meetings, beginning with committee meetings that included a housing industry panel with representatives from the KY Housing Corporation, KY Bankers Association and the Home Builders Association of KY. Later in the day, a moderated 2014 election preview was held featuring KY Democratic Party Chair - Dan Logsdon, Republican Party of KY Chair - Steve Robertson, Attorney & Author John David Dyche and Sam Youngman with the Herald Leader.

During the Hill Visits, a Rally in the Rotunda at the Capitol was held with Senate Majority Floor Leader Damon Thayer and House Majority Whip Tommy Thompson addressing the crowd. Following the Rally, KAR regions took to the halls and visited with legislators, ensuring the REALTOR® voice was heard!

Action items from the KAR BOD meeting:
  • Approved a change to the KAR policies & procedures manual dealing with removing references to service areas and the employee retirement plan. To view the most current version of the KAR policies & procedures, click here. 
  • Approved to hold the 2015 & 2016 Leadership Conferences at the Hyatt Regency Hotel in Lexington, KY. Dates will be December 3 & 4, 2014 and December 2 & 3, 2015.
  • Approved to produce the Kentucky REALTOR® magazine using one vendor - to be produced 2x per year at a cost not to exceed $18,000 annually.
  • Approved the funding criteria and scholarship application for the NAR Professional Standards seminar in Chicago in August 2014.
  • Approved the LeadershipKAR committee structure. 

Informational items:

  • Two amendments to the KAR Bylaws were presented. These amendments will be voted on at the next KAR membership meeting and can be viewed here.
  • KREEF will be implementing changes to the GRI program in 2015. Changes will not adversely affect anyone who is currently enrolled in the program.
  • RPAC raised a total of $4,755 towards its 2014 goal of $132,300 through a variety of efforts. If you want to help support RPAC, attend the Keeneland event and enjoy a day at the races with food, drink and fun.      

RPAC Awards (view the list here):

  • Highest Membership Participation
    Henderson-Audubon Board - 92%
  • Most Contributions Raised (overall)
    Lexington-Bluegrass Association - $40,000
  • Pacesetter Award (first to achieve goal)
    Hopkinsville Christian & Todd County Board - Dec. 2012  
  • Largest Percentage Over Goal
    • Small Board Division
      Hopkinsville Christian & Todd County - 297% of Goal 
    • Medium Board Division
      Greater Owensboro - 193% of Goal
    • Large Board Division
      Lexington-Bluegrass Association - 147% of Goal

To view photos from the event, click here

In This Issue
Military Relocation Professional Course
Two locations: Hopkinsville (April 9) and Elizabethtown (April 10)
These courses give attendees the knowledge and skills needed for working with military buyers and sellers. Cost is $89 and the course is approved as ABR and GRI elective credit and has been submitted for CE credit. To learn more and register, click here.
KAR News
Broker Summit: Mark your calendar
Wednesday, April 23 - Louisville, Kentucky
Registration: $89
Register here
Attendees have the chance to win an iPad or 1 of 6 free online education courses
The only statewide broker training event in Kentucky. With the market changing rapidly, it's important to adapt, and adopt, in order to give yourself a competitive edge. As Kentucky real estate brokers, managers and owners, KAR strives to offer you the most essential and current information on industry issues and trends to help your business prosper. By attending this event, you will find answers to your questions. You can connect with the best in the industry and find ways to improve your business immediately. Now is the best time to further your real estate knowledge base.
"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 and technology to the newest business tools and member photos. "Like" here
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
Housing Stats
These stats represent the market conditions for the entire state of Kentucky. For a complete breakdown of housing stats, click here.

4th Quarter 2013 vs 4th Quarter 2012

Total Homes Sold 2013: 10,253
Total Homes Sold 2012: 9,481
% Change: 8%

Median Home Price 2013: $110,325
Median Home Price 2012: $105,825
% Change: 4%
National Issues
Good Neighbor Awards   
REALTOR® Magazine's Good Neighbor Awards recognize REALTORS® who have made an extraordinary impact on their community, or on the national or world stage, through volunteer work.

Five winners are announced each fall in REALTOR® Magazine. Winners are recognized annually at the REALTORS® Conference & Expo, and receive $10,000 grants for their charities. Winners also receive travel expenses to the conference and national and local media exposure for their community cause. In addition to the winners, five honorable mentions each receive a $2,500 grant. Read More.
The #PowerofR
The Power of 'R' is you and all you do to advocate for the real estate industry and the nation's 75 million property owners -- in your community, at city hall, at the state house, and on Capitol Hill. Standing one million strong, REALTORS® help build vibrant communities; they help people achieve the American Dream of home ownership; and they champion accurate, reliable data as part of a real estate transaction.

Use the #PowerofR to share all the good you do with others in the industry and with consumers. Share your stories and photos on Twitter, Facebook, and Flickr using the hashtag #PowerofR and update your Facebook cover photo with one of NAR's pre-made banners. Read More
Governmental Affairs / RPAC
Legislative updates for the 2014 session
Every Friday during the legislative session, KAR publishes an update of the week's events including bills being tracked, key legislative decisions and important developments. These are sent to all members and also posted online. Be sure to check your inbox for the latest issue. Read More.
SB 51 - Education reform bill 
With major supporters leading the way, SB 51, the Kentucky real estate continuing education reform bill, is a legislative priority for KAR this session. The bill essentially raises the continuing education requirements from 6 hours each year to 12 hours each year with the end goal creating a more professional industry within Kentucky and giving consumer's increased protection through a better educated real estate agent. Currently, Kentucky requires the least amount of CE hours than any state in the U.S. Read More.

FAQs on SB 51 
Read a list of FAQs about the bill including who supports the bill, will it improve education in KY, who will benefit if it passes and how KY ranks across the country in real estate education and within our own state compared to other occupations.  All the answers can be found in the FAQ.
Read the FAQs about the bill here

Indiana ups its education to require broker licenses for all   
In a move to raise the bar in real estate, a neighboring state, Indiana, is requiring all licensees to upgrade to the broker level. This change, as it relates to Kentucky and agents who hold dual licenses in both states, works hand in hand with Kentucky's charge to increase CE hours through SB 51. Read about what Indiana is doing here and here.
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
Legal Matters
Court overturns Association arbitration
A Connecticut federal court has considered a challenge to an arbitration award made by a REALTOR® association.

Sotheby's International Realty ("Listing Broker") served as a listing broker for a property located in Greenwich, Connecticut. The Listing Broker placed the property into the Greenwich Multiple Listing Service ("MLS"), offering a cooperative commission to other participants who produced a buyer for the property.

Meanwhile, real estate firm The Relocation Group ("Relocation") entered into a representation agreement with Amy Kauffman ("Buyer") on October 19, 2010. The agreement expired on June 30, 2011. Read More.
2014 Code of Ethics
The 2014 Code of Ethics has been posted to Realtor.org and is now available for immediate download. Click here for a copy.
2014 GRI schedule  
Get started with the most popular and well-known designation in the country. Not only will you increase your professionalism but you will create a new network of referral opportunities. This is also the only designation that you don't have to pay or renew to keep on an ongoing basis - it's yours for life. Visit the website to learn more about the benefits, download a schedule or register for a course. Read More

Did you know: Those with a designation earn over $27,600 more annually than non-designees.
CE classroom scheduled in March   
Wednesday, March 5
Paducah, KY
9am- noon: Keeping Your Contracts from Exploding (3 elective hours)
1pm-4pm: The Code of Ethics & You (3 law hours & ethics requirement)

Thursday, March 6
Henderson, KY
9am- 4pm: CORE Course (6 law hours)

Friday, March 7
Cadiz, KY
9am- noon: Common Problems that Lead to RE Jail (3 law hours)
1pm-4pm: Real Live Cases (3 law hours)

Thursday, March 13
Shelbyville, KY
9am- noon: Top 20 Tech Tools to Provide Better Service to Home Sellers (3 elective hours)
1pm-4pm: The Older Client & The Real Estate Agent (3 law hours)
LeadershipKAR application available - get with the program 
Would you like to join the ranks of some of the most successful REALTORS® from around the state? You can by becoming part of the LeadershipKAR program, offered by the Kentucky Association of REALTORS® since 2002. Recognizing that leadership development is an essential element in the process of improving our Association and profession, KAR attempts to identify emerging REALTOR® leaders in the state, encourage them with motivational activities and assist in sharpening their leadership skills in the hope they will exert a strong positive influence on the future of the Association and profession. Read More
Appraisal courses 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
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: 

Kentucky tops nation in small business job growth

How much do you share on Facebook?

Mortgage debt forgiveness tax relief not renewed (yet) for 2014

Mortgage rates going up in 2014

Real estate website traffic up

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.
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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 can save your clients money
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.com
161 Prosperous Place, Suite 100
Lexington, KY 40509
Ron Hughes 2014 KAR President