Indiana REALTOR Advocate
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INDUSTRY EVENTS

April 4, 2014

Congratulations to Pat Pullara! After 29 years of service to the Greater Northwest Indiana Association of REALTORS® and a career dedicated to the real estate industry spanning four decades, GNIAR Chief Operating Officer Pat Pullara has announced her pending retirement. Send your congratulations and best wishes to pat@gniar.com. IAR will certainly miss Pat’s steadfast involvement and commitment to making us better.

Focus on Education:
License Action Required of All Before June 30 

In 2012, at the urging of a task force convened by the Indiana Real Estate Commission, members of the state legislature approved a bill that changed the way real estate professionals are licensed.

Because the legislation contained sweeping reform, implementation was set to happen in stages. This meant that a majority of those already licensed were not immediately impacted once the bill was signed into law. But, the two-year transition period is quickly coming to an end and this summer’s deadline matters to all real estate licensees.

The following details what current Salespersons, Transition Brokers and Legacy Brokers, including Principal Brokers and Branch Managing Brokers, must do before June 30, 2014 to stay in business. Please do not delay in reading this information and understanding what is expected. The consequences for inaction or late action are serious.

Kathy Harbaugh is happy to answer your transition questions:  kharbaugh@indianarealtors.com. And RECP can help with any and all of your education needs:  RECP.org or 800-742-4067. Curious as to why the changes were made in the first place? Here’s a memo from Charlie Shook, the 2012 IAR President and current IREC member, as well as member of the aforementioned IREC task force.

Salespersons Encouraged to Act Now -
Courses Filling Up, Applications Already Backlogged

According to IREC and its companion the Indiana Professional Licensing Agency, there are 6,300 real estate Salespersons who need to upgrade their license to Broker status before June 30, 2014. There are roughly three months until the deadline, but the state is already experiencing a backlog in processing Broker license applications. And, many education providers are reporting the required 24-hour Broker Transition courses to be filling up to capacity. Salespersons are encouraged to act now or risk an expired/non-renewable license on July 1, which would not only prevent participation in a transaction, but also require a 90-hour pre-licensing Broker course for reinstatement. The exception is for those Salespersons who completed a Broker Transition course before June 30, 2014 but did not apply for a Broker license in time and/or apply in time for the new license to be granted by June 30. Their license will expire on July 1, thus preventing them from participation in a transaction, but they can apply for a Broker license within a year of completing the Broker Transition course without having to take the 90-hour pre-licensing Broker course for reinstatement.

Transition Brokers to Check Expiration Date -
May Need to Renew *New* License Before June 30

Former real estate Salespersons who have already upgraded their license to Broker status during this license law transition period are currently known by the state as Transition Brokers. Transition Brokers need to check the expiration date of their new Broker’s license ASAP via the Indiana Professional Licensing Agency’s website. If the expiration date is June 30, 2014, Transition Brokers must renew their license before then in order to participate in a transaction on and after July 1. Watch for a renewal notice email from IREC. Now is a good time to check and/or update the email address IREC and IPLA have on file by logging into the license renewal area and clicking on “Address Changes Without Renewal”. Last, please report your Broker license number to your Principal Broker and local REALTOR® association.

CE Confusion Cleared for Legacy Brokers -
Must Complete 24 Hours, Renew License by June 30

Much of the focus of this license law transition period has been on the need for real estate Salespersons to upgrade their license to Broker status. But Legacy Brokers, or those who were licensed as a Broker on June 30, 2012, need to do two things before June 30 of this summer:  1) complete 24 hours of continuing education and 2) renew their license. There has been confusion within the Broker community on the CE requirement, so here is a breakdown of the 24 hours -

  • 16 hours of the old curriculum, specifically 6 mandatory and 10 elective hours, taken between July 1, 2011 and June 30, 2014. This is the same CE requirement Brokers had prior to enactment of the 2012 legislation that changed the way real estate professionals are licensed. The license renewal deadline was just extended by 1 year.

  • 8 hours of the new curriculum taken between July 1, 2013 and June 30, 2014. This includes the 2-hour updated Indiana license law class that details the 2012 legislation and the reasons for its enactment.

After July 1, if a Legacy Broker completes the to do list above, they will continue being licensed as a real estate Broker and placed on a 3 year license renewal cycle with a specific 12 hour CE requirement to be completed each year of that cycle for a total 36 hours.

Are you the Principal Broker of your firm? You must complete the to do list above before June 30, 2014. After July 1, the term Principal Broker is eliminated. You will be licensed as a real estate Managing Broker and placed on a 3 year license renewal cycle with a specific 12 hour CE requirement to be completed each year of that cycle for a total 36 hours.

Are you a Branch Managing Broker of your firm? You must complete the to do list above before June 30, 2014. A Managing Broker course is not necessary. After July 1, you will be licensed as a real estate Broker but known as a Branch Manager and placed on a 3 year license renewal cycle with a specific 12 hour CE requirement to be completed each year of that cycle for a total 36 hours.

Focus on Legal Affairs

Focus On Legal Affairs

Monthly Legal Hotline Q&As: April is Fair Housing Month

April 2014 marks the 46th anniversary of the 1968 landmark Fair Housing Act. Each year, REALTORS® recognize the significance of this event and reconfirm their commitment to upholding fair housing law as well as the commitment to offering equal professional service to all in their search for real property.  Senior Staff Counsel Kelly Shonborn answers some fundamental fair housing questions in her monthly column.

As a reminder, the Legal Hotline is available to Principal and Managing Broker members and their designated agents. There are three ways to reach IAR attorneys -

·         Phone:  317-913-3254 or 800-444-5472

·         Online:  Complete this form

·         Fax:  317-842-8494

Are Hoarders a new protected class under Fair Housing?

The 1968 Federal Fair Housing Act prohibits discrimination on the basis of race, color, national origin, religion, sex, familial status, As we celebrate the 46th anniversary of this landmark act, Richelle Cohen Mossler, IAR”s General Counsel, focuses this month’s column on several key areas including  the protected class of handicap with a newly expanded definition that may trigger tenant rights under the Fair Housing Act, a recent Fair Housing Advertising case, and Fair Housing discrimination with Service Animals.

Focus on Research & Technology

markets report

Markets Report:  Opportunity is Knocking Loudly

February's cruel weather was felt again on March 25 when the latest Indiana Real Estate Markets Report looked back at the performance of local housing markets across the state. However, Mother Nature does not deserve all of the blame for lagging home sales. Low inventory is also a culprit. And both will likely result in the same type of report for March to be released on April 22. The good news is that home values held their own with significant year-over-year gains in February. Statewide, the median sale price of homes increased 9.5 percent to $115,000. The average sale price increased 5.1 percent to $137,415. Opportunity is knocking loudly on the doors of potential sellers. REALTORS® tell IAR they expect the latter part of spring and summer to be very active if and only if inventory can satisfy the pent-up demand created by the harsh winter. Meaningful employment and wage growth will help, too. The Indiana Real Estate Markets Report can always be found at IndianaRealtors.com > Resources > Real Estate Markets Report.

Tell IAR How You Feel - 
First Member Sentiment Survey Begins April 14 

IAR has partnered with the Indiana Business Research Center (IBRC) within Indiana University’s Kelley School of Business to develop the first-ever member sentiment survey on local real estate markets. On Monday, April 14, every IAR member will receive an email from IBRC asking about buyer and seller traffic, the average time it takes a home to sell, and pricing trends.The online survey will ask 12 questions and should take no longer than 10 minutes to complete. Your responses will be anonymous. Your insight will help further develop the messaging of the Indiana Real Estate Markets Report and IAR’s planning. Please respond if you are able. To be sure you receive an email, update your address in the National REALTOR® Database System ASAP.

Focus on Membership

IAR Logo-I

Annual IAR Conference Set for September 29-30 -
To Include New Format and Centennial Celebration

In honor of IAR’s centennial year - that’s right, IAR is now 100 years old! - the annual conference is taking on a new 24-hour format which will include an evening birthday celebration at the Indiana State Museum. While details are still being worked out, here is something to look forward to:  we have taken inspiration from TED and will be offering an afternoon of fast-paced, inspirational talks delivered by some from within the real estate industry and some from outside. Send speaker recommendation and sponsorship interest to Stacey Hartman:  shartman@indianarealtors.com. And please plan to join us at the only statewide gathering of REALTORS®.

Transition Brokers to Check Expiration Date
First IAR Member Sentiment Survey Begins
April 14, 2014
Your Email Inbox

Indiana Real Estate Markets Report
April 22, 2014
Indianapolis, IN
More Info»

REALTOR® Party Convention & Trade Expo
May 12-17, 2014
Washington D.C.

Indiana Commercial Real Estate Conference
June 19-20, 2014
Indianapolis, IN
More Info»

Legacy Broker License
Renewal Deadline 

June 30, 2014
More Info»

Salesperson-to-Broker Transition Deadline
June 30, 2014
More Info»

Annual IAR Conference
September 29-30, 2014
Indianapolis, IN
Member Benefit:

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