Indiana REALTOR Advocate
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INDUSTRY EVENTS

June 6, 2014

Are you a Broker? Much of the focus of this license law transition period has been on Salespersons and the need for them to upgrade their license to your status. But Brokers also have requirements to fulfill by June 30, 2014. Click on the appropriate Broker category below to find out what you need to do to stay in business come July 1.

Legacy Brokers: those who were licensed as a Broker on June 30, 2012; includes Principal and Branch Managing Brokers

Transition Brokers: those former Salespersons who have upgraded their license since July 1, 2012


Focus on Legal Affairs

Monthly Legal Hotline Q&As:  New Dos and Don’ts List

Legal Hotline inquiries differ in specific facts, but there is a common question among them:  should the broker have handled the situation another way? From these conversations, Senior Staff Counsel Kelly Shonborn created a list of dos and don’ts to help members achieve a successful transaction while protecting themselves from liability.

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
     

Focus on Education

ALL Brokers to Act by June 30

Much of the focus of this license law transition period has been on Salespersons and the need for them to upgrade their license to Broker status. But Brokers also have requirements to fulfill by June 30, 2014. This includes ALL Broker types. See below and act now in order to stay in business come July 1.

Transition Brokers are those former Salespersons who have upgraded their license since July 1, 2012

1. Check license expiration: if 2014, renew license; if 2017, no action required.
2. Report new license number to Principal Broker and local REALTOR® 
association.  

Legacy Brokers are those who were licensed as a Broker on June 30, 2012; includes Principal and Branch Managing Brokers

1. Complete 24 hours of continuing education (CE) including: 
16 hours 
of the old curriculum and and 8 hours of the new curriculum.
2. 
Renew license

RECP is still providing CE opportunities for Legacy Brokers in both live and online/on-demand formats. Click here for details and to register. Or call RECP at 1-800-742-4067.

Effective July 1 –

  • The term Principal Broker is eliminated; Principal Brokers will be licensed as Managing Brokers

  • Branch Managing Brokers will be known as Branch Managers

  • All other real estate licensees, current Transition and Legacy Brokers alike, will be licensed as Brokers

Accelerated Pre-licensing Course Still Available

Effective July 1, state law will require nearly double the amount of pre-licensing education now needed to start a real estate career. And, there will be some additional post-licensing requirements. Enter the profession now with a super accelerated online/on-demand course. Call RECP for details and to register:  1-800-742-4067.

 

Focus on Government Affairs

Tom Rayl Inducted Into RPAC Hall of Fame

Past IAR president Tom Rayl of Fort Wayne was officially inducted into the national REALTORS® Political Action Committee (RPAC) Hall of Fame during a May ceremony. The Hall of Fame recognizes dedicated members whose RPAC investments total an aggregate lifetime amount of at least $25,000. Rayl is the first Hoosier inductee. His name is now proudly engraved on the walls of NAR’s beautiful rooftop terrace in Washington, D.C. Being inducted into the RPAC Hall of Fame is one of many honors Rayl has received for his service to the REALTOR® organization, fellow members, and property owners. His local board, the Upstate Alliance of REALTORS®, has elected him president and named him member of the year, and in 2008, he was the fourth to receive IAR’s most prestigious Distinguished Service Award. IAR warmly congratulates Rayl for his passion to protect the real estate industry. You can, too, by sending an email to Tom.

tom rayl rpac  rayl

Photo credit: Pone Vongphachanh, UPSTAR Public Affairs Officer

Focus on Membership

Maximize Your Leadership Potential
IRLA Class of 2014-2015 Accepting Applications

Through the Indiana REALTORS® Leadership Academy year long program, you will acquire skills useful in both your personal and professional lives, such as learning how to lead, affecting organizational change, and networking. Most graduates are active in their local communities, are serving on their local REALTOR® association board of directors or even serving in officer positions. In fact, over 35% of the current IAR Directors are graduates. Find out more about the program, including dates/topics for the sessions and how to apply. To hear directly from program participants about the value of the program and how they are using it to grow, check out this video from the members of the Class of 2012-2013.

Focus on Research & Technology
 
Keep More Commissions with Tax Deductions

IAR’s newest member benefit partner, Taxbot, this week hosted the first of three FREE webinars this year to teach real estate professionals how to keep more commissions with tax deductions. Taxbot estimates that most business owners or 1099 employees over pay their taxes between $1,000 and $13,000 each year even when using a CPA. Members can give themselves that raise simply by spending an hour watching the recorded webinar and implementing the things learned. Taxbot makes implementation easy with its expense tracking system, to which IAR members are entitled a free 30 day trial and 50% discount after. The webinars are led by former IRS trainer, CPA, and tax attorney Sandy Botkin, who is also a best-selling author and makes regular appearances on national television news programs. The next one is scheduled for 11:00am EDT/10:00 CDT on September 16.


Online/On-demand Broker Transition Course by RECP
More Info >>

Last Chance:  In-person Broker Transition Course by RECP
June 13, 14, and 16, 2014
8:00am-5:00pm EDT daily
Bloomington, IN
More Info >>

Last Chance:  In-person Broker Transition Course by RECP
June 16-18, 2014
8:00am-5:00pm EDT daily
Indianapolis, IN
More Info >>

Last Chance:  In-person Broker Transition Course by RECP
June 17-19, 2014
8:00am-5:00pm EDT daily
South Bend, IN
More Info >>

Indiana Commercial Real Estate Conference
June 19-20, 2014
NCAA Conference Center
Indianapolis, IN
More Info >> 

IAR Finance Committee meeting
June 19, 2014*
IAR Shadeland Avenue office
Indianapolis, IN
*corrected date from last Advocate newsletter
Questions >>

Last Chance:  In-person Broker Transition Course by RECP
June 24-26, 2014
8:00am-5:00pm EDT daily
Indianapolis, IN
More Info >> 

Last Chance:  In-person Broker Transition Course by RECP
June 25-27, 2014
8:00am-5:00pm EDT daily
Bloomington, IN
More Info >>

Indiana Real Estate Markets Report
June 24, 2014
More Info >>

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

Transition Broker License Renewal Deadline
June 30, 2014
More Info >> 

Legacy Broker (including Principal and Managing Brokers) License Renewal Deadline
June 30, 2014
More Info >> 

Independence Day
July 4, 2014
IAR and RECP offices closed

IAR Executive Committee meeting
July 10, 2014
IAR Shadeland Avenue office
Indianapolis, IN
Questions >> 

IAR RPAC Trustees meeting
July 17, 2014
IAR Shadeland Avenue office
Indianapolis, IN
Questions >> 

Indiana Real Estate Markets Report
July 22, 2014
More Info >> 

IAR Award nominations due
August 1, 2014
More Info >> 

Leadership Academy 
Class of 2014-15 applications due
August 1, 2014
More Info >> 

GRI Advisory Council 
applications due
August 8, 2014
More Info >> 

IAR Board of Directors meeting
August 14, 2014
Hilton Indianapolis North
Indianapolis, IN
Questions >> 

Indiana Real Estate Markets Report
August 26, 2014
More Info >> 

IAR Annual Conference and Centennial Celebration
September 29-30, 2014
JW Marriott Indianapolis and Indiana State Museum
Indianapolis, IN

REALTOR® Designation Days
October 21-23, 2014
Indiana Wesleyan University's Indianapolis-North Campus
3777 Priority Way South Dr

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