September 24, 2015

ROANOKE VALLEY REALTORŪ                  Online  

 Roanoke Valley  Associathion of REALTORS



You are receiving this online newsletter as a benefit of being a member of the Roanoke Valley Association of REALTORSŪ.
Membership Update Logo


Member Type | Count


REALTORŪ        1,160

Offices                134

Affiliate               155


Click here to see which RVAR members have switched firms, gone inactive, or joined recently.

In This Issue
2016 Dues Bills
New Governmental Affairs/Economic Development Initiative Planned
October 1st Standard Forms Revisions
Petition Period for 2016 Board Seats
RVAR Endorses Candidates in Area Races
Are You Prepared for the October 3rd CFPB Changes?
REALTOR® After Hours
2015 Affiliate/REALTOR® Night
Free Detailed Reports Now Available from®
Safety on the Road
Upcoming Education
Our RVAR Family
Upcoming Events & Deadlines
2016 Dues Bills
The 2016 dues bills will arrive at office addresses by October 1st. Plus, watch your inbox next week for an email with instructions on how to access and pay your dues bill online.
The 2016 dues amount has been set at $545:

                                                NAR   $155
                                                VAR   $120
                                                RVAR $270

Anyone who pays dues by Monday, November 2nd (includes a November 2nd postmark) can take advantage of a $50 discount.

The dues bill includes a request for a voluntary contribution of $30 to RPAC (REALTORSŪ Political Action Committee.)
The final date to pay 2016 dues is Tuesday, January 5th.
Questions? Contact Susan Edwards at the RVAR Office.
New Governmental Affairs / Economic Development Initiative Planned for 2016
In light of major job losses in the Roanoke Valley, the Board of Directors, with the support of RVAR's Broker Council, decided the time has come to create an RVAR staff position focused on governmental affairs and economic development, especially at the local level. RVAR's jurisdiction covers 5 Counties, 2 Cities and 2 Towns. Plus RVAR belongs to 7 Chambers of Commerce and the Regional Partnership. With so many municipalities and groups, it is hard to watch what is going only locally, much less be proactive, without a full-time presence.
In order to fund this new staff position, RVAR's 2016 dues will increase by $25 (to $270 as shown above.) (The 2016 dues for VAR and NAR will not increase.) RVAR is able to hold the dues increase to only $25 by making other staff adjustments next year. (NOTE: RVAR's dues have increased only twice in the previous 15 years.)
Playing an active role in the economic development of our community is an investment in our future.
October 1st Standard Forms Revisions
Several changes will be made related to the October 3rd CFPB changes in the loan application and closing process:
The Purchase Agreement and Lot/Land Purchase Agreement will be changed as follows:
  • A sentence will be added to the Settlement paragraph to provide written consent for settlement agents to transmit the Closing Disclosure to Purchaser electronically.
  • A Title Insurance Disclosure paragraph will be added. According to the new CFPB regulations, written authorization must be provided by the borrower in order for enhanced owner's title insurance to be quoted on the Loan Estimate.
The Inspection Addendum will be changed to increase the timeframe for the Seller's inspections to be completed to ten business days prior to settlement, instead of the current five business days. The CFPB changes will necessitate inspections to be completed sooner.
Also, unrelated to the CFPB changes, the Brokerage Fee paragraph in the Purchase Agreement and Lot/Land Purchase Agreement will be changed as follows:
  • The blank for Selling Agent compensation will be eliminated. This blank has caused problems. Agents often make errors when filling in this blank (using the terms of the contract to change the offer of compensation to the Selling Agent can be construed as a violation of the Code of Ethics.) But more importantly, Buyers and Sellers sometimes feel entitled to make changes to the compensation to be paid to the Selling Agent.
  • The VAR contract, as well as the contracts provided by the Northern Virginia and Richmond Associations, does not include a blank in the Brokerage Fee paragraph.
  • This change will require the Selling Agent to confirm with the Settlement Agent the amount of compensation to be paid to the Selling Agent.
Petition Period for 2016 Board Seats
Last month, the nomination for openings on the 2016 Board of Directors were announced.

Any REALTORŪ wishing to file as a petition candidate for any of the open Board positions noted must file a petition with the RVAR office during the month of September. The petition must be received in the RVAR office by Wednesday,
September 30th and be signed by 20 RVAR members in good standing. If any petitions are filed, an election by ballot for any contested seats will be held by mid-November. 
RVAR Endorses Candidates in Area Races
RVAR's Board of Directors has endorsed candidates in contested elections in our area. Special thanks to RVAR's Governmental Affairs Committee for its efforts to conduct interviews in the contested races for these seats.
Virginia Senate: The Board endorsed the following candidates:
            Senate District 19    Mike Hamlar
            Senate District 21    John Edwards
Senate candidates were interviewed on issues related to economic development, regional cooperation, transportation and the Grantor's tax. Virginia's RPAC Trustees have approved a $1,500 RPAC contribution for Senator Edwards and a $500 RPAC contribution for Mr. Hamlar.
Roanoke County Board of Supervisors: The Board endorsed the following candidates:
            Catawba District          Martha Hooker
            Cave Spring District     George Assaid
The Roanoke County candidates were interviewed on issues related to economic growth, expanding regional cooperation and improving the working relationship amongst the Board of Supervisors. The endorsed candidates will each receive a $700 RPAC contribution.
Are You Prepared for the October 3rd CFPB Changes?
On October 3rd, the Consumer Financial Protection Bureau (CFPB) changes will go into effect. These changes will merge the HUD-1 Settlement Statement, the Good Faith Estimate and the Truth-in-Lending disclosure form into two new closing forms: a Loan Estimate and a Closing Disclosure. In addition, consumers will be provided with more time to review the total costs of their mortgage prior to closing.
NAR recently surveyed REALTORSŪ about their awareness and preparation for these changes. Survey highlights include:
  • 82% of REALTORSŪ say they have taken some training to prepare for the CFPB changes.
  • 71.2% rated their level of preparedness as average or better.
  • 56% say they plan to change their purchase agreements to allow for a longer timeline for the closing process.
  • 32.5% plan to perform final inspections earlier or will provide contracts and amendments to the lender earlier.
REALTORŪ After Hours at RVAR
Join our "Tailgate Party" for REALTORŪ After Hours on Tuesday, September 29th from 5:00 until 7:00PM at the RVAR office! Support your favorite team by wearing your team's colors or jersey! Come enjoy great food, lively conversation, corn hole games, assorted beverages
and ... prizes!
Bring jars of peanut butter! The Community Service Committee will be collecting peanut butter to benefit the Community Christmas Store! The Committee Service Committee will also be holding a 50/50 drawing that evening to benefit our other charities.
 REALTORSŪ -- Bring a Business Card for a
chance at 4 Cash Door Prizes
$100 -- $50 -- $25 -- $25
Gather your REALTORŪ friends for a good time and join us at RVAR! Thanks to our fantastic 2015 Partner / Sponsors for making this event possible!  Click here to register.
2015 Affiliate/REALTORŪ Night
"Come Celebrate Country & Western Style!"
The Affiliates Committee is busy making plans for another exciting Affiliate / REALTORŪ Night again at Hidden Valley Country Club on Thursday, October 22nd! Pull on your favorite cowboy boots and dress in your favorite Country Western wear! Make plans now to attend and be sure to bring lots of business cards for a chance to win some fantastic prizes!
Tickets this year are still $15 if purchased by October 18th ($20 between October 19-22). This will get'cha all the hootin' & hollerin', a photo booth for you and your posse, delicious grub plus 2 drink tickets! Click here for all the details and to order your tickets now!
Free Detailed Reports Now Available from realtor.comŪ 
realtor.comŪ has just rolled out a new program to provide all members with metrics about their listings' performance on realtor.comŪ. The My Listing Report provides information on each active listing's search results impressions and listing detail page views over the past 12 months at a weekly level. Plus, an individual listing report is available for you to provide to each of your sellers.
To access, go to your realtor.comŪ Control Panel account OR click here to establish your credentials OR call 866-960-8110 for assistance.
Safety on the Road 
September is national REALTORŪ Safety Month. But your safety should be a priority every month. Check out these safety tips when driving or waiting in your car.
RVAR is providing monthly safety tips to assist you in developing your own safety plan.
Upcoming Education 
Roanoke City Hoarding Seminar and Fair Housing Seminar: The City of Roanoke is sponsoring two classes on Thursday, October 8th at the Jefferson Center. The Hoarding Seminar (9-11:30AM) will focus on the newly classified disability of Hoarding. (No CE credit for this class.)

The City's Fall Fair Housing Seminar (1:00-4:30PM) will focus on federal and state fair housing laws. (3 hours CE credit; no PL credit for this class.)
Both classes are free, though registration is required. To register for either or both classes, email with your name, the session(s) you wish to attend and your real estate license number (if applicable.)
Real Forestry for Real Estate: This day-long class, Wednesday, October 14th, (9:00AM-4:45PM at the RVAR office) is aimed at real estate professionals who list, sell or appraise rural land. A Virginia Cooperative Extension program -- a  joint program of Virginia Tech, Virginia State University and the US Department of Agriculture, this class offers 8 hours of CE/PLE/Appraiser credits. Click here for more information or to register. (Registration is handled by Virginia Tech.)
Fair Housing: RVAR's Education Committee presents this class in conjunction with the Moseley Dickinson Academy of Real Estate, Friday, October 16th, 10AM - Noon.
          New members: This class is free -- earn 2 hours PL or CE credit.
          Existing members: Pay $10 at the door for 2 hours CE credit.
NOTE: DPOR now only requires 2 hours of Fair Housing. Click here to register.
Annual Legal Update: Mark your calendar for Tuesday, October 20th, 9AM-Noon at the South Roanoke County Library. VAR Deputy General Counsel Blake Hegeman will return with the latest legal news from around the state. Specific topics will be: New Real Estate Board Regulations (2 hours) and Critical Contract Issues (1 hour). This class provides 3 hours CE (2 hours Legal Updates with Flood and 1 hour Contracts) / 2 hours PL (Current Industry). Click here to register.
Creating Effective Ads: Photography and Copywriting Tips for Print and Online Ads: RVAR's Education Committee is partnering with The Roanoke Times to offer this hands on class, Thursday, October 28th, 10AM-Noon at The Roanoke Times Building. This class is FREE and includes lunch. Click here for more information or to register.
Ethics Training: RVAR's Education Committee presents this class in conjunction with the Moseley Dickinson Academy of Real Estate, Tuesday, November 3rd, 9AM-Noon. NAR requires all REALTORSŪ to complete 3 hours of Code of Ethics training every four years. The current four-year cycle ends December 31, 2016. This class will not only meet NAR's requirement but will also provide 3 hours of CE credit for license renewal. Click here to register.
Buyers to the MAX! LeRoy Houser returns with his newest course on Thursday, November 5th, 9AM-Noon. This class is taught in a "how to" format, with tips you can use immediately to make money! Click here for more information or to register.
Another Fall Class Coming: RVAR's Education Committee has confirmed the following fall class -- watch for more details soon:
          Title Insurance: Horror Stories (Cover your Buyers' Assets)
          November 18th, 10AM-Noon
Our RVAR Family 
RVAR expresses sympathy to Pete Wood of RE/MAX All Stars upon the recent death of his brother.
RVAR extends its sympathy to all those impacted by the recent tragedy at Smith Mountain Lake. RVAR has made a contribution to the JMU scholarship fund in memory of Alison Parker and to the scholarship established by the Salem Educational Foundation in memory of Adam Ward. RVAR plans to make a future contribution in honor of Vickie Gardner.
Let RVAR know if you have news to share. 

September 29th
REALTORŪ After Hours at RVAR
September 30th
Deadline for BOD Petition Candidates
October 14th
Real Forestry for Real Estate
October 16th
Fair Housing
October 20th
Annual Legal Update
October 22nd
Affiliates/REALTORŪ Night

October 28th
Creating Effective Ads

November 3rd
Ethics Training
November 5th
Buyers to the Max with LeRoy Houser

                   2015 RVAR Partner / Sponsors  


The RVAR proudly recognizes our

2015 Partner / Sponsors

for their generous support this year!


Platinum Level Partner / Sponsors


Atlantic Bay Mortgage Group

Corridor Mortgage Group 

Freedom First Federal Credit Union  

Southwest Virginia Moving & Storage

SunTrust Mortgage 

Virginia Varsity Transfer & Self Storage


Diamond Level Partner / Sponsors


Alcova Mortgage 

First Choice Title & Settlement, LLC

Integrity Home Mortgage Corporation

Performance Title & Settlement, Inc. 

Union Mortgage Group 

Wells Fargo Home Mortgage


Gold Level Partner / Sponsors


Acquisition Title & Settlement Agency, Inc.

Bank of North Carolina Mortgage Division 

Bill Meador Insurance Agency

Colonial Mortgage Company

Consolidated Construction Services 

Laura R. Wright, Attorney at Law

Movement Mortgage, LLC 

The Bullington Law Firm

Virginia Title Center


Silver Level Partner / Sponsors


Bank of Floyd

BB&T Home Mortgage

Bug Man Exterminating, Co. Inc. 

Colonial Title and Settlement Agency, LLC 

First American Home Buyers Protection Corporation 

First Citizens Bank

HMS Home Warranty

HomeTown Mortgage 

Member One Federal Credit Union

Seal-Tite Basement Waterproofing Co.

Virginia's All American Movers  


 Thank You!!  
Roanoke Valley Association of REALTORSŪ |
(540) 772-0526 | Email