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Mirealtors.com Feature

Michigan REALTOR® Magazine – Spring Advertising Special!

Don’t miss this spring advertising special! If you commit to place a full or half page ad in all three remaining issues of the Michigan REALTOR® (August, September, November) you will receive a FREE similar sized ad in the MAR online publication, MiREALTOR® (June issue). However, your ad contract must be received by May 1, 2011.

To secure your spot and FREE ad, download, and fax or mail back your completed contract to MAR. A brochure with rates and ad sizes for 2011 can be found at the MAR web site. Questions can be directed to Joe Kras, Advertising Manager, at 800-454-7842 or by email at jkras@mirealtors.com. 

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View past samples 

Event Buzz

New Broker Summit Schedule Format 

The 2011 MAR Broker Summit takes place April 27th at the Somerset Inn, Troy. MAR is now using SCHED’s social event calendar software so all attendees have access to the schedule of events on their mobile phones and iPads.

View Broker Summit SCHED

In This Issue:

The 3.8% Tax Is Not a Real Estate Transfer Tax 

Keeping Pace on Education - Task Force Looks to Increase Current Requirements

Don’t Miss the Broker Summit – Early Registration Rate Ends April 20th

Bill Martin and MAR Receive Top Ten Honors

MAR & NAR Committed to Fair Housing: FREE Resources for REALTORS®

Local Focus: CPIX.Net Receives Best of Michigan's Business Award from Corp! Magazine

Upcoming Land Bank Home Showcase includes attractive and affordable NSP homes

Legal Lines - Fair Housing Focus

MAR Edge – Check Out Blues’ Web Tools and Services 

By Robert Freedman, Senior Editor, REALTOR® Magazine

Shortly after the federal government enacted sweeping healthcare reform earlier this year, there was considerable concern over a last-minute addition to the legislation: a 3.8 percent tax on investment income of upper-income households to help shore up Medicare. The tax takes effect in 2013.

Among the concerns expressed among consumers and business people, including real estate professionals, both then and today, is that the tax amounts to a transfer tax on real estate. Not true, NAR Director of Tax Policy Linda Goold says.

Here’s how the tax works. For individuals earning $200,000 a year or more and married couples earning $250,000 a year or more, certain investment income above these income levels might be subject to the 3.8 percent tax on a portion of that income. I say “might” because whether the tax applies or not depends on many factors having to do with the kind and amount of the investment income the household receives.

Investment income includes capital gains, dividends, interest payments, and, for those who own rental property, net rental income.

Importantly, the $250,000 (for individuals) and $500,000 (for married couples) capital gain exclusion on the sale of a principal residence remains in place. So, if you’re a married household that sold a house for a $500,000 gain (that’s gain, not sale proceeds), that amount remains excluded from your income calculation.

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MAR’s Real Estate Education Reform Task Force will provide its initial outline for education reform for real estate licensees in Michigan for review this spring. The proposed recommendations put an emphasis on additional training and education to help keep real estate professionals current in today’s complex market. Other states, have already implemented such changes. Illinois is implementing an all broker licensing model and Ohio real estate applicants must complete 120 classroom hours of specific real estate courses.

"Increasing training and educational opportunities will strengthen our value and increase our ability to serve and meet our obligations to clients, customers, the public, and each other.  Continuously striving to increase the skills REALTORs bring to the table will ensure we are respected and valued as knowledgeable professionals," said Dennis Pearsall of Real Estate One of Traverse City and Co-Chair of the task force.

The general consensus of the MAR membership is that there is tremendous value in stressing core real estate subjects that better serve the consumer, as well as practical experience for real estate licensees.  The recommendations from the task force include an increase in education/training pre-licensure, specific education requirements during a post-licensure cycle and an increase in the annual continuing education requirement after post-licensure cycle. The anticipated implementation for such requirements is projected to take place with 2012 license renewals.

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April 27th is quickly approaching, so make plans to attend MAR’s Broker Summit. Take one day to bring your business into focus.

The Summit is being held Wednesday, April 27 at the Somerset Inn, Troy. Make no excuse to miss the largest gathering of your profession. Registration is only $119 and includes a full day of top industry speakers covering topics that will make you rethink your business strategies.

View a Schedule of Events

Register Today for only $119!

Meet the Broker Summit Speaker Lineup

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Bill Martin and MAR Receive Top Ten Honors

The Michigan Association of REALTORS® along with it’s CEO, Bill Martin, was recently ranked among the top ten for Best Association and Association Lobbyist respectfully by Political Insider, an underground watchdog newsletter reporting on the political process, to protect and highlight what good legislators and lobbyists do for their craft, state and the political process. To compile the list, Political Insider surveys only elected State Legislators in the House and Senate. The annual rankings also include the categories of Best Individual Multi-Client Lobbyist, and the Best Multi-Client Firm. Each year, MAR and its lobbyists receive the honor of being ranked among the best in Lansing.

The newsletter noted the following about Martin. “Good presence, knows the legislative role, is well respected and does a good job for his association.” In referring to MAR the Political Insider commented, “Backs up their PAC with its presence, keeps REALTORS® well informed and handles their issues in a no nonsense manner.”

“I was extremely pleased to see that MAR continues to be ranked among the best in the state as an advocacy organization,” Martin said. “Between the efforts of our staff and that of our members, we continue to be strong advocates for private property rights, as well as public policies that will create jobs and move our economy forward.”

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MAR & NAR Committed to Fair Housing: FREE Resources for REALTORS®

April 2011 marks the 43rd anniversary of the 1968 landmark Fair Housing Act. Each year REALTORS® across the country recognize the significance of this event and reconfirm the commitment to upholding fair housing law as well as the commitment to offering equal professional service to all in their search for real property. MAR and NAR have provided a variety of resources for REALTORS to utilize.

Watch Video: Trying to Hard to Help: Fair Housing and Unintentional Discrimination

Visit NAR’s Fair Housing Resource Center

Visit MAR’s Fair Housing Resource Center 

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Local Focus: CPIX.Net Receives Best of Michigan's Business Award from Corp! Magazine

From Corp! Magazine - Competition always brings out the best in contestants. In this case, Michigan businesses are proving once again that our state has the right economic climate for businesses to succeed. It hasn't been an easy journey though, but the proof of their grit and determination is in the pudding.

Included in our awards list are businesses that have heard from their customers and taken action. They're learning that consumers are price shopping, and looking for companies who will treat them as important guests. Most importantly, it's high business ethics that the buying public is searching for. Competing business may look the same on the surface, but consumers are doing all they can to find the very best ones.

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Early this year, this partnership enabled homebuyers in several southeast Michigan communities to purchase beautifully renovated homes with down payment assistance and, in many cases, affordable mortgage options. This weekend, April 14 – 16, twenty (2) fully renovated Lansing homes will be featured in the Ingham County Land Bank Spring Showcase 2011. REALTOR members of the Greater Lansing Association of REALTORS will be on hand during the Showcase with information for prospective buyers. Click here for more information

The state of Michigan was the top receiver of NSP2 grants, at $223.8 million. MAR continues to work with community leaders and REALTORS across Michigan to assist with implementation efforts as these funds are spent toward stabilizing targeted communities.

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Legal Lines - Fair Housing Focus

With the help of McClelland & Anderson, we are taking the most recently asked questions from our legal hotline and putting them in E-news. We will be featuring a different question each issue.

Questions: I plan on stating on the MLS and other advertising that my seller’s house is in a “family neighborhood.” Can I use this type of description?

Answer: Real estate advertising should not include statements that either suggest that families with children are NOT welcome or that they are the ONLY people welcome. A reference to a “family neighborhood” may be interpreted as an attempt to discourage buyers who are not families with children.