January/February 2012 Hogan FrontRunner

S C H O O L

REALTORS Property Resource provides REALTORS® with data onevery parcel of property in the United States as well as a robustportfolio of market trend data, advanced analytical reportsand detailed maps.

Owned by NAR, RPR is a NAR member benefitthat is only available to REALTORS® -there is no consumer access.

Read more aboutRPR on page 3

Learn how to use RPR to increase your sales

TWO DATES TO CHOOSE FROM:Friday January 20, 2012

9am – 11:50am

Wednesday February 22, 20129am – 11:50am

REALTORS Property Resource™ (RPR)NAR’s Gold – Standard Automated Valuation Model (AVM) for REALTORS®

Renewal Class Schedules onon Pages 6 thru 11

www.HoganSchool.com JANUARY / FEBRUARY2012

520/327-6849 � 800/[email protected]

REAL ESTATE MORTGAGE APPRAISAL INVESTMENT� �

RPR includes:• Public record and tax assessment information• Details of prior transactions and sales history• Zoning, permits, mortgage and lien data• FEMA flood maps, neighborhood and school

district boundaries• The largest database of foreclosure information,

by county, in the industry

frontrunnerfrontrunner4023 East Grant Road � Tucson, AZ 85712

Taught by Jim Hoganand Jonna Douglas

Tuition: $353 hours General credit

�

January/February 2012 ©2012 Hogan School of Real Estate 2


REALTORS Property Resource™�(RPR)

(continued from front page)

The RPR robust national database, along with enhancedsearch and reporting capabilities, empowers REALTORS®to provide detailed information to their clients andcustomers. The enhanced search features allownationwide property searches, as well as market-to-market comparisons.

RPR merges MLS/CIE-provided information with thisrobust catalog of publicly available data, while alsoincorporating psychographic and lifestyle information,all in one place. Imagine a single-source nationalcompilation of public information that provides all thefacts on over 147 million U.S. residential and commercialproperties, for the exclusive use of NAR’s members.That’s RPR!

What can you do with RPR?REALTORS® can use RPR as a powerful time-saving toolthat generates impressive market reports for clients.Options include:

� Historical charts for each property that layer in yearsof transaction and financing activity, assessed value,loan balances and default recordings, along withother relevant trends and facts.

� Advanced geospatial searching can be used togenerate map overlays, including market trends anddemographics.

� High-touch valuation tools allow agents to leveragetheir personal knowledge of the local market tocreate the most accurate analysis available.

� Refine values further with your knowledge ofcondition, curb appeal, and distressed or enhancedproperty features.

� Use the home improvement calculator to createlocalized return-on-investment analysis to typicaland custom remodels.

� Generate market-to-market analyses and demo-graphic reports which can be used with all levels ofrelocating clients, from anywhere in the country.

Use these and other reports to create a personal libraryof market information including market forecasts, trends,sales analytics, property details…all branded to you.

RPR and BPOsRPR can also play an important role in helping agentscreate Broker Price Opinions (BPOs) by providingextremely robust analytical tools for preparing propertyvaluations. Combined with the training receivedthrough the Broker Price Opinion Resource (BPOR)certification, agents may be well-positioned to takeadvantage of new business opportunities from BPOs.

Learn MoreAs of July 2011, RPR had executed agreements withmore than 300 MLSs, representing over 518,000REALTORS®. To learn more about RPR and find out ifyour MLS has signed up yet, visit www.blog.narrpr.com .

Take Charge of your Career –Get your Broker’s License!

There are more benefits to becoming a Broker thanowning a real estate company. If you have 3 yearsas an active licensed sales person – now is a great

time to take yourself to the next level.

Here are some reasons for obtaining yourbroker’s license:

• It is the most recognized real estate designation.

• It is recognized as a specialty in the real estate industry.

• You can advertise on your cards and marketingmaterials Broker or Associate Broker, and set yourselfapart from the competition.

• You want to be the specialist. The law of marketing is“if you can’t be first in an area, be a specialist in thearea.”

Obtaining your broker’s license can openmany doors to your future.

March 8TH – April 13TH

Thursday & Friday 8:45am - 4:30pm

FROM CONTRACT TO CLOSING…the devil is in the details with Betsy Branyan

Betsy Branyan has 30 years of experience as a successful Broker in AZ, The Northeast and Midwest, specializing in corporateclient development and as a relocation specialist. She is from a family steeped in the Real Estate Business and brings to theclassroom a seasoned perspective on how to navigate the escrow period with minimal surprises and high client satisfaction tomaximize client retention.

Learn how to take a fully executed contract and convert it into asuccessful, smooth closing! This course will emphasize seller, buyerand agent responsibilities during the closing process includingspecific tasks and document review with some easy tech tips. Thisclass has a special emphasis upon meeting your clients expectationsduring what can be a highly stressful period for all parties.

Thursday,January 26, 2012

11am – 1:45pmTuition $25

3 hours Contract Law Credit

• The Hogan “Study Smart” workbook, which makes passingthe test easy.

• 3-hour BROKER MANAGEMENT CLINIC (required by ADRE toactivate broker license)

• 5% discount for Hogan bookstore items

• In class & take home quizzes to get you test ready.

• Six months to complete the course & the opportunity totake the course again at no extra charge.

• Instructors who are very accessible for answering questions.

• Office staff who will assist you with submitting necessaryDepartment of Real Estate paperwork.

Tuition $625 and includes:


I believe strongly that there is no such thing as “a born salesman”. I have workedwith people who possessed all the knowledge needed to be successful but failedbecause they didn’t know how to communicate effectively with the person in frontof them. I have witnessed failure by the wizards of speech who had no one to telltheir story to. Success in sales starts by coming to the conclusion that obtaining theknowledge, developing the skill and creating the desire are all within your control.You have the power of choice and in choosing the path of life you can choose to bereactive or proactive. Being proactive means we are responsible for our own lives. Iam what I am today because of the choices I made yesterday. If I want to be some-where else in life I need to make the choices that will move me there.

If we make our lives a function of our conditions we become reactive. Reactive

DICK’S COMMUNICATION CORNER

The Born Salesman!

Proactive Self Talk

• Let’s look at our alternatives.

• I can choose a different approach.

• I will seek out the necessary training and support.

• I will look for opportunities.

• I choose to put out the extra effort.

• I will.

Reactive Self Talk

• There’s nothing I can do.

• That’s just the way I am.

• I don’t have the skill.

• It’s the market.

• I just can’t.

• If only.

To achieve success and fulfillment in sales you have todevelop the habit of proactively taking the initiative.You put extra effort into things that you can do some-thing about. You become skilled in communicatinga compelling need for your services. You look foropportunities that will separate you from the masses.You develop the skill to communicate the importanceof pricing a property to sell in the current marketconditions. You develop the skill to create such apowerful relationship with the client, that within ashort period of time, 80% to 90% of your business iscoming from referrals.

people are affected by their physical environment. If the weather is good, they feel good. If it isn’t it affects theirattitude and their performance. Proactive people can carry their own weather with them. Whether it rains or shines, itmakes no difference to them. Reactive people are also affected by their social and psychological environment. Whenpeople treat them well, they feel well; when people don’t, they become defensive or protective. Proactive people arealso influenced by their social and psychological environment, but their response is a value based choice response.The question you need to ask yourself is: Am I proactive or reactive in my self talk?


JANUARY 2012RENEWATHONS

6 EVENINGS + 2 DAY CLASSES

3 Day Renewathon – Does NOT include Broker Management Clinic

Tue Jan 10, 2012 Agency: Duties, Responsibilities & Disclosure 3 Agency Law6pm - 8:50pm Richard Koevary

Thu Jan 12, 2012 Fair Housing: Do’s & Don’ts 3 Fair Housing6pm - 8:50pm Dan Carapellucci

Tue Jan 17, 2012 *Private Water Wells 3 RE Legal Issues6pm - 8:50pm Gary Hix R.G, CWD/PI

Thu Jan 19, 2012 The 4 Sides of Disclosure 3 Disclosure6pm - 8:50pm Jim Strong

Tue Jan 24, 2012 Solving Short Sales & REO Contract Issues – NEW CLASS! 3 Contract Law6pm - 8:50pm Cheryl Terpening ABR, CRS, GRI

Thu Jan 26, 2012 Broker Management Clinic 3 Commissioner’s6pm - 8:50pm George Jenson Standards

Sat Jan 28, 2012 Beginning Residential Real Estate Investment 3 General8am - 10:45am George Jenson

Sat Jan 28, 2012 Agency Case Studies 3 Agency Law11am - 1:45pm Jim Strong

Thu Jan 26, 2012 2011 Code of Ethics with Case Studies 3 Commissioner’s8am - 10:45am Mike Mulvena Standards

Thu Jan 26, 2012 From Contracts to Closing – NEW CLASS! 3 Contract Law11am - 1:45pm Betsy Branyan

Thu Jan 26, 2012 How to Buy Tax Liens 3 RE Legal Issues2:30pm - 5:15pm Jim Hogan

Fri Jan 27, 2012 Valuing Residential Property Using Appraisal Techniques 3 General8am - 10:45am Michael Ashurst

Fri Jan 27, 2012 Risk Reduction: Avoiding E & O Claims 3 Disclosure11am - 1:45pm Lisa Robinson

Fri Jan 27, 2012 Lessons in Diversity 3 Fair Housing2:30pm - 5:15pm Cheryl Terpening ABR, CRS, GRI

Sat Jan 28, 2012 Beginning Residential Real Estate Investment 3 General8am - 10:45am George Jenson

Sat Jan 28, 2012 Agency Case Studies 3 Agency Law11am - 1:45pm Jim Strong

*Indicates approved for Appraisal Continuing Education credit.

4023 East Grant Road(one block East of Alvernon)


FEBRUARY 2012RENEWATHONS

6 EVENINGS + 2 DAY CLASSES – Does NOT include Broker Management Clinic

Thu Feb 9, 2012 Pricing Properties Right 3 Agency Law6pm - 8:50pm George Jenson

Tue Feb 14, 2012 Solving Short Sales & REO Contract Issues - NEW CLASS! 3 Contract Law6pm - 8:50pm Cheryl Terpening ABR, CRS, GRI

Thu Feb 16, 2012 Understanding Water Availability, Use Law 3 Disclosure6pm - 8:50pm William DeStefano

Tue Feb 21, 2012 Fair Housing Do’s & Don’ts 3 Fair Housing6pm - 8:50pm Dan Carapellucci

Thu Feb 23, 2012 2011 Code of Ethics with Case Studies 3 Commissioner’s6pm - 8:50pm Mike Mulvena Standards

Sat Feb 25, 2012 Disclosure & Risk Reduction 3 Disclosure8am - 10:45am Cheryl Terpening ABR CRS GRI

Sat Feb 25, 2012 Protect and Promote Your Client’s Interest 3 RE Legal Issues11am - 1:45pm by Forming a Business Partnership

Dick Martin

Tue Feb 28, 2012 Foreclosures, Trustee Sales, Short Sales and Deficiencies 3 RE Legal Issues6pm - 8:50pm Timothy Remick, Esq.

Thu Feb 23, 2012 Asset Protection for Real Estate 3 RE Legal Issues8am - 10:45am Mark Valentine, Esq.

Thu Feb 23, 2012 Broker Management Clinic 3 Commissioner’s11am - 1:45pm George Jenson Standards

Thu Feb 23, 2012 Exchanging, Case Studies & Contracts 3 Contract Law2:30pm - 5:15pm Cyndi Merodias

Fri Feb 24, 2012 How to Get an Accurate Appraisal 3 General8am - 10:45am Steve Cole MAI/Sonny Solot MAI

Fri Feb 24, 2012 Out of the Line of Fire: Avoiding Professional Liability 3 Agency Law11am - 1:45pm Thomas Stoops, Esq.

Fri Feb 24, 2012 Fair Housing Do’s & Don’ts 3 Fair Housing2:30pm - 5:15pm Dan Carapellucci

Sat Feb 25, 2012 Disclosure & Risk Reduction 3 Disclosure8am - 10:45am Cheryl Terpening ABR, CRS, GRI

Sat Feb 25, 2012 Protect and Promote Your Client’s Interest 3 RE Legal Issues11am - 1:45pm by Forming a Business Partnership

Dick Martin

* Indicates approved for Appraisal Continuing Education credit.

4023 East Grant Road(one block East of Alvernon)

3 Day Renewathon


*

Jan 10 Agency: Duties, Responsibilities & Disclosure Richard KoevaryTue This course will have real estate professionals understanding their fiduciary duties 3 Agency Law6PM - 8:50PM to their buyers and sellers. $25.00

Jan 12 Fair Housing Do’s & Don’ts Dan CarapellucciThu This class will assist licensees and their clients in dealing with today’s complex Fair Housing 3 Fair Housing6PM - 8:50PM issues by familiarization with Fair Housing laws and applications. $25.00

Jan 17 Private Water Wells Gary L. Hix, R.G., CWD/PITue Gary will discuss private homeowner rights to have a domestic water well. Learn from an 3 RE Legal Issues6PM - 8:50PM expert about well classifications, registrations and how to locate wells. $25.00

Jan 18 Short Sales and Foreclosures: What Real Estate Professionals Need to Know NAR Jim HoganWed Knowing how to help sellers maneuver the complexities of short sales and foreclosure 7 RE Legal Issues8:30AM - 4:30PM opportunities are not merely good skills. Agents with the proper tools and training can $99.00

use these specialty areas to build their business for the long term.

Jan 19 The 4 Sides of Disclosure Jim StrongThu Learn to identify disclosure obligations, common material facs warranting disclosure, 3 Disclosure6PM - 8:50PM and common “red flags.” $25.00

Jan 20 RPR: Real-Time Data, Market Knowledge, Informed Consumers - NEW CLASS! Jonna Douglas/Jim HoganFri This course covers how the REALTORS Property Resource tools help real estate buyers and 3 General9AM - 11:50AM sellers make informed decisions, as well as increase their efficiency in the marketplace. $35.00

Jan 24 Solving Short Sales & REO Contract Issues - NEW CLASS! Cheryl Terpening ABR, CRS, GRITue Increase your knowledge of short sales and REOs so you can better communicate the risks 3 Contract Law6PM - 8:50PM involved in working with these properties. $25.00

Jan 25 BPOs: The Agent’s Role in the Valuation Process Jim HoganWed NAR’s one day program leading to the BPOR Certification. 7 General8:30AM - 5PM $99.00

Jan 26 2011 Code of Ethics with Case Studies Mike MulvenaThu Meet NAR’s 4-year requirement in this engaging class and gain 3 hours Commissioner’s 3 Commissioner’s Standards8AM - 10:45 AM Standards CE as well. $25.00

Jan 26 From Contract to Closing - NEW CLASS! Betsy BranyanThu This class will emphasize seller, buyer and agent responsibilities during the process of 3 Contract Law11AM -1:45PM executing a contract and converting it into a successful closing. $25.00

Jan 26 How to Buy Tax Liens Jim HoganThu Imagine acquiring properties for a small fraction of their value. Learn every aspect 3 RE Legal Issues2:30PM 5:15PM from an expert. $35.00

Jan 26 Broker Management Clinic George JensonThu Designated brokers are required to take this course every two years and new broker 3 Commissioner’s Standards6PM - 8:50PM agents prior to license activation. $25.00

Jan 27 Valuing Residential Property Using Appraisal Techniques Michael AshurstFri This course covers the fundamental concepts of “Real Property” value and how they can be 3 General8AM - 10:45AM applied to determine residential real estate valuations; this is a practical application when $25.00

agents are representing sellers and buyers in the transactions of Real Property.

*

**

**

**

**

JANUARY 2012 RENEWAL SCHEDULE


HOGAN SCHOOL OF REAL ESTATE, INC. � 4023 EAST GRANT ROAD, TUCSON, AZ 85712(520) 327-6849 � (800) 794-1390 � FAX (520) 325-8950 � www.hoganschool.com

24 hours are presently required for renewal.3 hours Agency Law, 3 hours Commissioner’s Standards, 3 hours Contract Law, 3 hours Disclosure,

3 hours Fair Housing, 3 hours Real Estate Legal Issues (Legal Issues) PLUS 6 hours inANY CATEGORY as long as it is NOT the exact same course.

The Real Estate Department allows licensees to take a maximum of 9 hours in one 24-hour period.Designated brokers and self-employed brokers are required to attend a 3-hour Broker Management Clinic with every two year renewal.

Pre-Registration discount now available:You may pre-pay and register for your renewal classes and receive the following discount:

24 hours - $175 � 21 hours - $150 � 18 hours - $135 � 15 hours - $115 � 12 hours - $90

** Indicates Excluded from the Prepaid Packages. * Indicates Approved for Appraisal Continuing Education credit.

Jan 27 Risk Reduction: Avoiding E & O Claims Lisa RobinsonFri This course will enable the real estate professional to learn about the risks associated with 3 Disclosure11AM - 1:45PM short sales and REO’s and the areas of exposure. $25.00

Jan 27 Lessons in Diversity Cheryl Terpening ABR, CRS, GRIFri Fair Housing and issues of diversity are emeging due to immigration issues. Learn how 3 Fair Housing2:30PM - 5:15PM to apply the evolving demographics which are changing our business. $25.00

Jan 28 Beginning Residentail Real Estate Investment George JensonSat This is an introduction to the rudiments of investment in smaller (1-4 unit) residential 3 General8AM - 10:45AM properties. Learn how to analyze both “buy, fix-up & sell,” as well as “buy and hold” $25.00

investment opportunities.

Jan 28 Intro Contract Writing Jerri SzachSat Learn how to write listings and purchase contracts. Mandatory for new agents for 6 (3 Contract Law/9AM - 3:50PM license activation. 3 RE Legal Issues)

$50.00

Jan 28 Agency Case Studies Jim StrongSat Agency relationships & duties to consumers, will be covered through the most recent 3 Agency Law11AM - 1:45PM case studies. $25.00

When coming to class is just too inconvenient...TTTTTAKE HOGAKE HOGAKE HOGAKE HOGAKE HOGAN’S ONLINE CE!AN’S ONLINE CE!AN’S ONLINE CE!AN’S ONLINE CE!AN’S ONLINE CE!

Hogan’s online renewal classes designed for AZ Licensees by AZ experts on AZ topics.At your convenience and with the click of your mouse, you will experience the same quality education with

fun and flair that only Hogan School can deliver. So what are you waiting for? Grab a cup of coffee,learn and enjoy the experience! We’re ready when you are - your Renewal Hours are waiting.

www.HoganSchool.com

Agency Law - Conversion about thePast, Present & Future

Arizona Broker Management Clinic

Code of Ethics with Case Studies

Contract Law with Case Studies

Dealing with the Multi-Cultural Client

Disclosure: Road Map for Real Estate

24 hour Package (Broker or Salesperson) $13518 hour Package $105

Individual 3 hour Classes $25

Fair Housing Compliance

Green Real Estate

Litigation in Real Estate

Short Sales & REO Properties

Surviving Litigation in Real Estate

Top 10 Disclosure Issues

Appraisal Online Continuing Education� FHA and VA Appraisal Basics

� Mortgage Fraud: A Dangerous Business

� Foreclosure Basics for Appraisers - NEW CLASS

� Appraisal of 2-4 Family & Multi-Family Properties -NEW CLASS

Tuition $119 per class OR purchasea 21 hour course package for $319

Each course is 7 hours credit

http://hoganschool.fastclass.com/



FEBRUARY 2012 RENEWAL SCHEDULEHOGAN SCHOOL OF REAL ESTATE, INC. � 4023 EAST GRANT ROAD, TUCSON, AZ 85712(520) 327-6849 � (800) 794-1390 � FAX (520) 325-8950 � www.hoganschool.com

24 hours are presently required for renewal.3 hours Agency Law, 3 hours Commissioner’s Standards, 3 hours Contract Law, 3 hours Disclosure,

3 hours Fair Housing, 3 hours Real Estate Legal Issues (Legal Issues) PLUS 6 hours inANY CATEGORY as long as it is NOT the exact same course.

The Real Estate Department allows licensees to take a maximum of 9 hours in one 24-hour period.Designated brokers and self-employed brokers are required to attend a 3-hour Broker Management Clinic with every two year renewal.

Pre-Registration discount now available:You may pre-pay and register for your renewal classes and receive the following discount:

24 hours - $175 � 21 hours - $150 � 18 hours - $135 � 15 hours - $115 � 12 hours - $90

** Indicates Excluded from the Prepaid Packages. * Indicates Approved for Appraisal Continuing Education credit.

**

**

**

*

Feb 9 Pricing Properties Right George JensonThu Listing not selling? Sellers not rational? How can you meet your obligations to your 3 Agency Law6PM - 8:50PM clients but deliver them the “dose of reality” they need in pricing their property? $25.00

Feb 13 - Feb 14 Accredited Buyer Representative Designation Course Jim HoganMon & Tue This class fulfills the two day “core” course requirement for the Accredited Buyer 15 (12AL/3RLI)8:30AM - 5PM Representation (ABR) designation. $269.00

Feb 14 Solving Short Sales & REO Contract Issues - NEW CLASS! Cheryl Terpening ABR, CRS, GRITue Increase you knowledge of short sales and REOs so you can better communicate the 3 Contract Law6PM - 8:50PM risks involved in working with these properties. $25.00

Feb 16 How to Buy Tax Liens Jim HoganThu Imagine acquiring properties for a small fraction of their value. Learn every aspect 3 RE Legal Issues1PM - 3:50PM from an expert. $35.00

Feb 16 Understanding Water Availability, Use & Law William DeStefanoThu Learn what to do as a real estate professional on water knowledge and how to better 3 Disclosure6PM - 8:50PM serve the needs and wants of your clients. $25.00

Feb 21 Fair Housing: Do’s & Don’ts Dan CarapellucciTue This class will assist licensees and their clients in dealing with today’s complex 3 Fair Housing6PM - 8:50PM Fair Housing issues by familiarization with Fair Housing laws and applications. $25.00

Feb 22 RPR: Real-Time Data, Market Knowledge, Informed Consumers - NEW CLASS! Jonna Douglas/Jim HoganWed This course covers how the REALTORS Property Resource tools help real estate buyers 3 General9AM - 11:50AM and sellers make infomred decisions, as well increase their efficiency in the marketplace. $35.00

Feb 23 Asset Protection for Real Estate Mark Valentine, Esq.Thu Learn what asset protection is and how it applies to homestead protection, 3 RE Legal Issues8AM -10:45 AM retirement plans, life insurance and other entities. $25.00

Feb 23 Broker Management Clinic George JensonThu Designated brokers are required to take this course every two years and new broker 3 Commissioner’s Standards11am - 1:45PM agents prior to license activation. $25.00

Feb 23 Exchanging, Case Studies & Contracts Cynthia MerodiasThu This class focuses on real estate exchanges as an alternative to a traditional sale. You 3 Contract Law2:30PM - 5:15PM will have the opportunity to learn the basics of exchange contracts, the simultaneous $25.00

exchange process and how to counsel clients about the possibility of exchangingproperty.

Feb 23 2011 Code of Ethics with Case Studies Mike MulvenaThu Meet NAR’s 4-year requirement in this engaging class and gain 3 hours Commissioner’s 3 Commissioner’s Standards6PM - 8:50PM Standards CE as well. $25.00

Feb 24 How to Get an Accurate Appraisal Steve Cole MAI,Fri Learn the top 3 things to do to get the best appraisal, and what to expect from the Sonny Solot MAI8AM - 10:45AM appraiser. Learn how appraisers make price adjustments and how underwriter’s 3 General

requirements impact values. $25.00


Feb 24 Out of the LIne of Fire: Avoiding Professional Liability Thomas StoopsFri Learn to identify duties when acting in a fiduciary relationship. Specific Arizona case 3 Agency Law11AM - 1:45PM law will be discussed. Broker liabilities will be discussed and attendees will be able to $25.00

identify potential liability issues.

Feb 24 Fair Housing Do’s & Don’ts Dan CarapellucciFri This class will assist licensees and their clients in dealing with today’s complex Fair Housing 3 Fair Housing2:30PM - 5:15PM issues by familiarization with Fair Housing laws and applications. $25.00

Feb 25 Disclosure & Risk Reduction Cheryl Terpening ABR, CRS, GRISat This course includes detailed discussions on the problems agents encounter, the 3 Disclosure8AM - 10:45AM disclosures that need to be made to consumers and risk reduction strategies that $25.00

benefit consumers and real estate licesnsees.

Feb 25 Protect and Promote Your Client’s Interest by Forming a Business Partnership Dick MartinSat Competitive immunity is about creating a new and more powerful relationsip with 3 RE Legal Issues11AM - 1:45PM your client along with becoming indispensable to them. $25.00

Feb 27 Intro Contract Writing Jim StrongMon Learn how to write listings and purchase contracts. Mandatory for new agents for 6 (3 Contract Law/9AM - 3:50PM license activation. 3 RE Legal Issues)

$50.00

Feb 28 Foreclosures, Trustee Sales, Short Sales and Deficiences Timothy Remick, Esq.Tue This class will instruct agents on the intricacies of foreclosures, trustee sales, 3 RE Legal Issues6PM - 8:50PM forfeitures, short sales and the consequent issues of deficiences and taxes. $25.00

Short Sales & Foreclosures ResourceSFR® Certification

Wednesday January 18, 2012 8:30am – 4:30pm7 hrs RE Legal Issues credit

Tuition - $99

For many real estate professionals, short sales and foreclosures are the new “traditional”real estate transactions. Knowing how to help sellers maneuver the complexities of short sales,

as well as help buyers pursue short sale and foreclosure opportunities are not merelygood skills to have – they are critical!

Becoming SFR Certified:1. Be a member in good standing of NAR2. Complete REBAC’s Short Sales and Foreclsoure Course3. Complete three 1-hour Webinars - Webinars available free of charge at www.realtorSFR.org4. Submit application - $175 application fee (no recurring dues to maintain certification)

The Short Sales and Foreclosures Resource certification, (SFR® ) gives you a road map forunderstanding how to:

• Counsel sellers facing foreclosures• Qualify sellers for short sales• Develop a short-sale package• Negotiate with lenders• Tap into buyer demand• Safeguard your commission• Limit risk• Protect buyers

�� All mortgage loan originators must complete 20 hours of NMLS approved education

and become licensed under Arizona laws.

Module 1: Mortgage Loan Origination Activities (4 hours)Module 2: Part A - Lending Standards for Traditional Mortgage Products (2 hours)

Part B - Lending Standards for Non-Traditional Mortgage Products (2 hours)Module 3: Federal Mortgage Law (4 hours)Module 4: Lending Ethics & Consumer Protection (4 hours)Module 5: Arizona Mortgage Law (4 hours)

Monday, Tuesday & WednesdayMarch 12, 13 & 14, 2012

8am - 5pm (lunch break 12pm-1pm)

Tuition • $349Tuition includes NMLS credit banking fee, an extensive course manual plus textbook!

Your instructors:Jim Hogan, DREI, ABR, Green, SFR

Richard Koevary, Blue Sky MortgageSherri Liebert, New American Mortgage

Mark Ross, Prime Capital

��

��

��

��

The Arizona Loan Originator Pre-License, SAFE Comprehensive Course is presentedin a series of five 4-hour modules:

��


Appraisers are required to complete 28 hours of education everytwo years for renewal and a 7-hour USPAP Course must be takenas part of the 28 hours every two years.

APPRAISALRENEWAL SCHEDULE

JANUARY/FEBRUARYJan 17 Private Water Wells Gary L. Hix, R.G., CWD/PITue Gary will discuss private homeowner rights to have a domestic water well. Learn $25.006PM - 8:50PM from an expert about well classifications, registrations and how to locate wells.

Feb 24 How to Get an Accurate Appraisal Steve Cole MAI, Sonny Solot MAIFri Learn the top 3 things to do to get the best appraisal, and what to expect from the $25.008AM - 10:45AM appraiser. Learn how appraisers make price adjustments and how underwriter’s

requirements impact values.

2012-2013 USPAP UPDATE COURSE!National Uniform Standards of Professional Appraisal Practices 7 Hour USPAP Update Course

Protect yourself and your business. By law, all real estate appraisers must comply with the USPAP regulations.Arm yourself with the standards you need to ensure adherence to the law.

The 7 Hour USPAP Update course is required with every two year renewal period.

WEDNESDAY FEBRUARY 15, 20128:30AM - 4:30PM

Instructor: Roy E. Morris, SRA FASA FRICS

$250* - includes extensive USPAP 2012-2013 course manual & textbookApproved for 7 hours Appraisal renewal credit. Approved for 6 hours Real Estate general credit.

*Hogan School Discount Package Prices do not apply.

www.hoganschool.com



Satisfying The Financing ContingencyIn The Residential Resale Real EstatePurchase Contract

What ConstitutesA Good Faith Effort?

Arizona courts do not have a case decided directly onthis point. However, from cases involving contingencycases one thing is very clear. The fact is that in Arizonacontingency clauses impose a duty on the buyer tomake a good faith effort to fulfill the contingency. If thebuyer does not make a good faith effort to satisfy thecontingency he cannot rely on the contingency to avoidliability on the contract on the theory that the contractwas conditional and not binding.

Based on a line of reasoning relied upon by the Arizonacourts in determining whether a good faith effort wasmade, is a decision to be made by the jury if the mattergoes to trial (or the judge if there is not a jury).

But the question remains – how many attempts have tobe made by the buyer to obtain financing to entitle thebuyer to cancel the transaction? There is an Arizonacase involving a contingency requiring the property toappraise for the amount of the sales price. The buyerobtained the first appraisal which came in far below thesales price. The court noted the contingency clause wasinserted in the contract for the benefit of the buyer. Thecourt concluded that since the initial appraisal was lessthan the sales price, the buyer was entitled to enforcethe condition and cancel the agreement.

There are some cases from other states which base theiropinion on the wording of the contingency clause tofind that only one attempt to obtain financing is

The question presented is what constitutes sufficient good faith effort to obtain financingto permit a buyer to satisfy the financing contingency and cancel the Arizona Association

of REALTORS® Residential Resale Real Estate Purchase Contract?

Section 2 at lines 55 through 58 of the AAR Residential Resale Real Estate Purchase Contract states:

“Loan Contingency: Buyer’s obligation to complete this sale is contingent upon Buyer obtaining loanapproval for the loan described in the AAR Loan Status Update (“LSU”) form without Prior to Document(“PTD”) conditions no later than three (3) days prior to the COE Date. If Buyer is unable to obtain loanapproval without PTD conditions, Buyer shall deliver a notice of the inability to obtain loan approval withoutPTD conditions to Seller or Escrow Company no later than three (3) days prior to the COE Date.”

sufficient. A Hawaii case and a New York case foundthat one attempt at obtaining financing is sufficient tomeet the buyer’s obligation to attempt to obtainfinancing.

It must be noted that there are some cases from otherstates interpreting specific language of the contractsinvolved held that to satisfy the duty to take bona fide,reasonable and prompt action to obtain the requiredfinancing required more than one attempt.

Without assistance of case law on point in Arizona theanswer is inconclusive. We need to examine thelanguage of the Arizona Association of Realtor’s formand attempt to extrapolate the conclusion an Arizonacourt would take in interpreting the language citedabove.

The language quoted above from the AAR PurchaseAgreement does not assist in answering the question. Therefore it is the conclusion of the author that to besafe the buyer should make multiple attempts to obtainfinancing if the first attempt is unsuccessful. Since thebuyer must prove he made a good faith effort, the moreattempts that were made the better the chances ofbeing able to convince a jury or a judge that a reason-able and good faith effort was made to obtain therequired financing in order to relieve the buyer from theobligation of proceeding to close the transaction.

By Michael J. Monroe, Esq.

Ignite has a single objective:To propel agents into immediate productivity!

• Convenient Office Locations• Competitive Fee Plans

Call 520-615-8407 TODAY to find out ifKeller Williams Southern Arizona is right for you.

BPOs – The Agent’s Role in the Valuation ProcessAs a listing or selling agent, it is best to thoroughly understand the BPO process and how it can affect your

short sale and bank owned transactions. Short sales and foreclosed bank owned properties will be alarge part of the market for years to come and BPO orders will increase accordingly.

There are currently over 22,000 “open” BPO orders in Arizona.Over 10 MILLION BPOs are performed annually according to industry estimates.

Knowing how to perform BPOs creates multiple opportunities for professional growth and income.

Wednesday, January 25, 2012 8:30am – 5pmTuition: $99 7 hours General credit

Learn how to:� Get BPO assignments� Prepare professional BPOs

� Evaluate market valuation tools� Identify and weigh factors influencing value

This course is the educational component for NAR’s BPOR certification. There is a chargeof $199 to obtain the BPOR Certification and additional requirements to be registeredwith the preferred provider panel. For more info visit www.hoganschool.com.

Accredited Buyer Representative(ABR) Designation

To obtain the ABR Designation you must take a2 day “Core” course and an “elective” course.

Choose either the BPOR Certification, SFRCertification or HAFA Short Sales as your elective!

2-Day ABR “Core” CourseMonday & Tuesday, February 13 & 14, 2012

8:30am – 5pmReceive 12 hours Agency Law &

3 hours RE Legal Issues credit

Tuition: $269

By taking the ABR® 2-Day “Core” Course...

• You receive the NAR® recognized ABR designation

• Your name is in the REBAC Relocation Directorydistributed to over 1,600 corporations

• You will have confidence in your ability to offerclient-level services to your buyers

• Learn how to use the Arizona’s Buyer BrokerAgreement without fear of rejection

• Understand retainer fees, hourly fees, transactionfees and how to earn them

• Learn to market yourself as a buyer representative

Show your clients that you are an expert inrepresenting buyers with the designation

that says it all.

Now accepting applications forNew and Experienced Agents!


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Documents

January/February 2012 Hogan FrontRunner