Visit www.bmar.org • rEaLtor ProFEssioNaL EDgE • marCH 2009 • PagE �

George Bookis, GRI, President • Vol. XXVI, No. 3 • MARCH 2009 • NUNZIO DEL GRECO RCE, Chief Executive Officer

REALTOR

What’

s In

side 85th Annual Banquet Honorees ........................................ 6

2009 Leadership ........................................................... 2

2009 NYSAR Legislative Priorities ................................9-11

Active MLS Realtor Companies ....................................... 15

Additional MLS Listing Opportunities For Non-Member MLS Realtors .................................... 14

Advantage Advertising ........................................... 14 & 16

Advertise Your Listings Directly to Millions of Buyers ........................................................ 4

Association Mission Statement ..................................... 13

Annual Banquet Reservation Form .................................... 7

Benefits of the Bronx-Manhattan MLS ............................... 8

Calendar of Events .......................................................3-4

CEO Report .................................................................... 2

MLS Premium Internet Search Engines ........................... 10

Newsletter Product & Service Providers ............................ 5

NYSAR Legal Hotline ..................................................... 13

President’s Message ...................................................... 3

Realtor Associate Networking Event .................................. 9

Realtors Achieve Victory with Short Sale Commissions ...... 8

ram guPta oF CHatam maNagEmENt Co., iNC. to bE HoNorED at tHE

74tH aNNuaL goLF & tENNis outiNgRam Gupta of Chatam Management was unanimously selected as the 2009 Outstanding

Service Award Recipient. A special presentation will be made to him at the 74th Annual Golf & Tennis Outing on June 29, 2009 at the Fresh Meadow Country Club, Lake Success, New York. For reservations or more information contact Janine Schall at (212) 242-4343, (718) 892-3000 or email: J.Scall@BMAR.org.

The Annual Golf & Tennis Outing is a fabulous full day event which features a comprehensive schedule of activities including: a golf tournament; tennis tournament; networking cocktail hour; charity silent auction of sports memorabilia, superb buffet selections; prizes and much more. There are sponsorship and advertising opportunities for companies interested in continued or new business.

Ram Gupta will join a distinguished list of prior award recipients at this event including: Len Shendell, Cornell Pace, Inc. 2002; Robert Rosenberg & David D i a m o n d , R o s e n b e r g Diamond Development Corp. 2003; Mark F. Engel, Langsam Property Services Corp. 2004; Michael Laub, Realty Group 2005; Past Presidents of the BMAR 2006; Rubin Pikus, Milbrook Properties, Ltd. 2007; and Billy Schur, Schur Management Co., Ltd 2008.

realtors® oppose miD reduction in

administration budget Plan

The National Association of Realtors®, which has sup-ported the Obama administra-tion’s housing and stimulus plans, is opposed to the budget proposal that would reduce the mortgage interest deduction for thousands of families.

In a letter sent to Presi-dent Obama, NAR Presi-dent Charles McMillan said, “There is never a good time to propose something that under-mines the basic foundation of homeownership, but given our current housing crisis, this has to be the worst possible time.”

Any changes to the current mortgage deduction would have repercussions far beyond the homeowners directly im-pacted. “The tax deduction of interest paid on mortgages is both a powerful incentive for homeownership and one of the simplest provisions in the tax code. It should not be targeted for change,” McMillan said.

According to NAR’s analy-sis, changing the mortgage interest deduction will not only negatively impact the 2 percent of families who own homes targeted by the pro-posal, but also will impact home prices and values across the board. The middle class would see their home values reduced even further by such action, and NAR cautioned the Obama administration that any further pressure on home prices will hamper the eco-

(Standing left to right) Mark F. Engel, Langsam Property Services Corp.; Matthew Engel, President-Elect; Jim Slattery, Hess Corp.; Stephen Wolinetz, Wolinetz Management LLC; George Bookis, 2009 President; Joseph Colonel, Castle Oil Corp.; Neal Berman, Brainstorm Promotions; Gil Lieberman, DEC Copiers; and Nunzio Del Greco, CEO. (Seated left to right) Gary Jacobs, F & F Supply; William Stanley, Cornell Pace, Inc.; Len Shendell, Golf & Tennis Chairman; and Scott Silberman, SMS Engineering PC.

continued on page 5

PagE 2 • marCH 2009 • rEaLtor ProFEssioNaL EDgE • Visit www.bmar.org

CEO R

EPOR

T Nunzio Del greco rCE, Chief Executive Officer

2009 LeadershipOFFICERS

GEORGE BOOKIS, GRI President

MATTHEW ENGEL, CPM President-Elect

NUNZIO DEL GRECO, RCE Chief Executive Officer

CHRISTINA TAYLOR V.P. Bronx Residential Div.

RICHARD GUARINO V.P. Manhattan Residential Div.

MATTHEW SCHMELZER V.P. Owner-Management Div.

KATHY ZAMECHANSKY V.P. Commercial-Industrial Div.

DANIELLE ERICKSON NOAK Treasurer

HATEMA NEZAJ Secretary

ELIOT J. CHERSON, ESQ. Counsel to the Board

GOVERNORS

FRANK BARBIERI SHAUN BELLE BARBARA ANN BENSON PETER BOURBEAU VINCENT BUCCIERI KENNETH CODER, CPA JAMES K. COLEMAN JOSEPH W. COLONEL FLOYD E. COOPER VASCO DA SILVA ELLEN FELD, GRI WANDA FORDEN JEFFREY GAULT RICHARD GILIOTTI RAM GUPTA JOAN KUZNIAR, GRI ANTHONY MORMILE EUGENE REISMAN, ESQ. HALE RICKMAN SHIMON SHKURY RANDOLPH J. SILVERSTEIN JAMES SLATTERY SONNY VATAJ ARNOLD WALDMAN EARL H. WASHINGTON STEPHEN WOLINETZ

SENIOR COUNCIL

MARK F. ENGEL, CPM SANDRA ERICKSON JOEL T. FISHMAN VIRGINIA M. GALLAGHER PERRY GAULT SUSAN E. GOLDY, CIPS, GRI JACQUELINE KYLE KALL BARRY H. LEVITES, CPM JOSEPH F. LIMONGELLI MICHAEL SCHMELZER, GRI WILLIAM SCHUR ERIC A. STERLING, IFA, ASA, GAA JOSEPH A. VILLANI

RecessionProof Business Plan

“”

With every recession or economic down-turn, there are businesses that are successful and continue to thrive in spite of the market. They not only maintain their competitive advantage but they look for opportunities and thereby recession-proof their business. In this recession, this business plan is more important than ever. When the market was “hot”, generating business and closing more deals was easy. It’s a lot tougher today and everyone is working harder. Perseverance and doing the right thing is a proven formula for long-term success.

Professionals that will survive this recession will be the folks that keep active in associations such as the Bronx-Manhattan North Association of Realtors. With all the uncertainty in the economy and real estate industry, it is more important than ever to network and share concerns with your peers. There are over 25 committees in the association that members can participate on and share ideas. Networking takes place at all events includ-ing committee meetings.

The Bronx-Manhattan North Association of Realtors sponsors many networking opportunities including 4 major events: the 85th Annual Ban-quet, April 23, 2009 at the Marina del Rey Caterers; the 74th Annual Golf & Tennis Outing, June 29, 2009 at the Fresh Meadow Country Club in Lake Success; the 8th Annual Real Estate Trade Show, October 28, 2009; and the 25th Annual Holiday Party, December 3, 2009 at the Marina del Rey Caterers.

Keeping your company product or service highly visible is very easy with 5 annual publications including the Realtor Professional Edge Monthly Newsletter with a circulation of over 10,000 companies and professionals throughout the New York City area. During down markets or when business is slow, advertising becomes even more important as a means of promot-ing your products or services directly to your target market. BMAR has a rich history of helping members become more successful and enhancing business relationships. Many of our members are 3rd or 4th generation of active companies in the organization. They know that cultivating long term business is a worthwhile goal that keeps paying off.

The 2009-2010 Membership & Referral Directory is being prepared to also help recession-proof your business. The annual publication features a wealth of information including a list of Product & Service Providers. Types of companies listed in the previous edition included: Adjusters; Apart-ment Building Realtors; Appliance Repair; Architects; Asset & Property Management Software; Attorneys; Banking & financial Services; Boiler Repair, Installation & Cleaning; Chute & Compactor Cleaning, Sales & Services; Commercial Investing & Lending; Commercial Realtors; Com-puter Consulting; Computerized Heat Controls & Monitors; Consulting Engineers; Copiers & Fax Machines; Elevator Companies; Energy/Natural Gas & Oil; Engineering/Building Inspections; Environmental Services;

continued on page 7

Visit www.bmar.org • rEaLtor ProFEssioNaL EDgE • marCH 2009 • PagE �

I am extremely proud to be a member of an association whose membership adheres to a strict code of ethics and holds professionalism in the highest degree.

It is tragic that today, we can read a newspaper, listen to the radio or watch the television news casts and are constantly bombarded by the news of the antics of business and political ‘so called professionals’ that are far from exemplary.

By continuing to hold ourselves above the fray we can convey to our clients and customers that it is they who benefit from our knowledge and willingness to work within honest parameters. As such, it is important to acknowledge that this association, in partnership with NYSAR and NAR, continues to offer educational programs and helpful tools that continue to enhance our businesses.

The credit markets appear to be slowly loosening up and both residential and commercial mortgage money is again becoming available. The standards may be far stricter but money is available.

Spring officially begins this month and traditionally business picks up with the warmer temperatures. To help Realtors® meet their clients’ needs and succeed in today’s economic climate, the National Association of Realtors® is offering its roster of business-building resources to members for free or at significantly reduced costs through the association’s new “Right Tools, Right Now” initiative.

“NAR is the most trusted resource for real estate information, and we want to ensure that Realtors® have easy access to these powerful resources in today’s market,” said NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Every NAR division is contributing to this initiative so that Realtors® can better service their clients and enhance their business.”

More than 300 resources are being offered through “Right Tools, Right Now.” Realtors® can take advantage of education and online training opportunities, access NAR publications and research, attend conventions and events, and obtain technology services for free or at a discount. Local and state associations and boards also have access to resources and materials through the initiative.

Among the many useful tools available to Realtors® at no cost are eProduct versions of the 2007 and 2008 NAR Profile of Home Buyers and Sellers and the 2007 Profile of Buyer’s Home Feature Preferences, as well as valuable information on short sales, foreclosures, business tips and marketing.

For more information on the products, publications, services and enhancements available through the “Right Tools, Right Now” initiative, visit www.REALTOR.org/RightTools <http://www.REALTOR.org/RightTools> .

I am happy to report that the Nominating Committee of the New York State Association of Realtors has unanimously nominated Susan E. Goldy as its 2010 Secretary / Treasurer. Susan will be in line to serve as President of NYSAR.

Susan will join a distinguished group of members of our association that have provided leadership and served as President of the New York State Association of Realtors including: Herman A. Acker 1937; Henry G. Waltemade 1944; Frank Mazzetti 1954; James G. Houlihan 1965; and Michael Schmelzer 1983.

I would also like to thank all who contribute their valuable time by serving on the Board of Governors and on various committees. Your dedication is to be applauded as exemplary of the highest degree in professional conduct.

As always please direct any comments, suggestions or concerns you may have to: info@bmar.org.

george bookis, gri, 2009 President

President’s Message

MARCH 4, 2009 Golf & Tennis Committee Meeting BMAR Board Room 9:30 AM - 10:30 AM

MARCH 4, 2009 Trade Show Committee Meeting BMAR Board Room 10:30 AM - 11:30 AM

MARCH 14, 2009 WCR Fundraiser Bowling Event Bowler’s Lanes in the Bronx 3:00 PM - 5:00 PM

MARCH 19, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

MARCH 25, 2009 Bronx Residential Division Round Table Discussion & Member Forum BMAR Board Room 9:30 AM - 11:30 AM

APRIL 16, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

APRIL 19, 2009 WCR Cultural Brunch Lorraine Coyle’s Home 3:00 PM - 6:00 PM

APRIL 23, 2009 85th Annual Banquet Marina del Rey Caterers Networking Cocktail Party 5:30 PM

Formal Dinner and Program 7:00 PM – 10:00 PM

MAY 11-16, 2009 NAR Business Meetings Washington, D.C.

MAY 19, 2009 New Member Welcome Seminar/ Code of Ethics (3 hours CE Credits) BMAR Board Room 9:30 AM – 1:00 PM

MAY 21, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

JUNE 9, 2009 NYSAR’S Annual Lobby Day Legislative Building Albany, NY 9:00 AM – 5:00 PM

Membershipadheres to a strict code of ethics

“

”

CaLENDaroF EVENts

PagE 4 • marCH 2009 • rEaLtor ProFEssioNaL EDgE • Visit www.bmar.org

JUNE 18, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

JUNE 29, 2009 74th Annual Golf & Tennis Outing Fresh Meadow Country Club Lake Success, New York

SEPTEMBER 13-16, 2009 NYSAR Business Meetings The Saratoga Hilton Hotel Saratoga Springs, New York

SEPTEMBER 22, 2009 New Member Welcome Seminar/ Code of Ethics (3 hours CE Credits) BMAR Board Room 9:30 AM – 1:00 PM

SEPTEMBER 24, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 4:00 PM

OCTOBER 28, 2009 8th Annual Real Estate Trade Show Location To Be Announced 10:00 AM – 4:00 PM

OCTOBER 28, 2009 Board of Governors Lunch Meeting 12:00 PM- 1:30 PM

NOVEMBER 11-16, 2009 NAR Annual Convention San Diego, California

NOVEMBER 17, 2009 New Member Welcome Seminar/ Code of Ethics (3 hours CE Credits) BMAR Board Room 9:30 AM – 1:00 PM

NOVEMBER 19, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

DECEMBER 3, 2009 25th Annual Holiday Party Marina del Rey Caterers

DECEMBER 17, 2009 Board of Governors Meeting BMAR Board Room 9:30 AM – 10:30 AM

Advertise your listings directly to millions of buyers through our MLS to over 20 premium internet search engines.

PRINTER’S DEADLINE

APRIL 2, 2009FOR THE

BANQUET JOURNALFor more information contact:

Janine Schall at(212) 242-4343; (718) 892-3000 or

email: j.schall@bmar.org

Visit www.bmar.org • rEaLtor ProFEssioNaL EDgE • marCH 2009 • PagE �

Newsletter Product & service Providers

baNKiNg & FiNaNCiaL sErViCEs Emigrant Mortgage ................................(718) 459-6556

CoPiErs, PriNtErs & FaX maCHiNEs DEC Copiers ..........................................(845) 942-1400

ELEVator AL’AN Elevator Corp. ...........................(718) 792-9530 Ver-Tech Elevator ..................................(212) 375-1900

ENErgY maNagEmENt sYstEms, HEatiNg CoNtroLs U.S. Energy Group .................................(718) 380-1004

ENErgY / NaturaL gas & oiL Bay Ridge Fuel ......................................(718) 836-9222 Castle Oil Corp. .....................................(914) 381-6600

ENViroNmENtaL sErViCEs Jerome Environmental Services, LLC ...(718) 220-4200 Professional Environmental Services, Inc. ......................................(718) 231-8399

EXtErmiNator Metro Pest Control .................................(718) 803-0000

iNsuraNCE CBS Coverage Group Inc. .....................(516) 938-9000

LauNDrY EQuiPmENt Service Directions Inc. ...........................(800) 666-0505

mortgagE FiNaNCiNg sErViCEs Community Preservation Corp .............(718) 601-6600

muLtiPLE ListiNg sErViCE (mLs) Bronx-Manhattan North Association Of Realtors .....................(718) 892-3000

PriNtiNg Beehive Press .........................................(718) 654-1200

PromotioNaL ProDuCts Brainstorm Promotions .........................(516) 681-3118

sPriNKLEr ComPaNY Big Apple Fire Sprinkler Co. .................(718) 205-8580

tENaNt FrauD surVEiLLaNCE Digital Parts, Inc. ...................................(877) 374-4300

titLE iNsuraNCE Judicial Title Insurance Agency, LLC ....(914) 381-6700

watEr trEatmENt OCS Chemical Engineering ...................(914) 739-2676

PATRONIZE THE ADVERTISERS

IN THIS NEWSLETTER!*Tell them that you saw their “ad” in

the BMAR Newsletter

realtors® recommend responsible Lending Principles

Realtors® care about protecting consumers from unfair lending practices and are important allies in those efforts. That is the message National Association of Realtors® President Charles McMillan delivered to the House Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit in recent testimony.

“As we have seen recently, abusive lending erodes confidence in the nation’s housing system, strips equity from homeowners and damages local and national economies,” said McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth.

In 2005 NAR adopted a set of Responsible Lending Principles to encourage lending practices that ensure consumers have affordable mortgage choices and are protected in the real estate transaction. The principles also call for ensuring strong underwriting, eliminating prepayment penalties, eliminating mortgage flipping, strengthening enforcement against predatory and abusive lending practices, and maintaining the independence of appraisers and the appraisal process.

While NAR’s written testimony further detailed the responsible lending practices that NAR has advocated for many years, the focus of McMillan’s testimony was ap-praisal independence. “Realtors® believe that a strong and independent appraisal industry is vital to restoring faith in the mortgage origination process,” said McMil-lan.

With a record of supporting legislation that strikes the proper balance of oversight and consumer protection, NAR has endorsed legislation that would strengthen the independence of the appraisal process by ensuring appraisers serve as an unbiased arbiter of a property’s value.

To protect consumers, NAR recommended that lenders be required to inform each borrower of how property value was determined and provide them with a copy of each appraisal at no additional cost. NAR also called for stronger penalties against anyone who improperly influences the appraisal process, federal support for better state enforcement, and enhanced education and qualifications for appraisers.

“The irresponsible and abusive lending that occurred during the past few years has taken a toll on our communities and our nation. Now is the time to correct these problems to ensure we do not face the same circumstances in the future,” Mc-Millan said. “Realtors® are proud to encourage responsible lending and we stand ready to work with Congress to ensure that the nightmare of foreclosures does not overshadow the American Dream of homeownership. As the leading advocate for homeownership and the real estate industry, NAR will continue to address issues facing Americans who are trying to purchase a home, protect their current home or preserve investment opportunities in residential and commercial properties.”

nomic recovery, raise foreclosures and hurt banks’ abilities to lend.

“Bank balance sheets will bleed as collateral value of their mortgage-backed securities falls even farther. We can’t afford another credit crisis before we resolve the current one,” said Mc-Millan. He also stated that, with the current problems in the economy and the housing market, economic stability must be the focus. Changes that affect the housing industry and the financial arena have to be carefully thought out

and balanced, he said.As the leading advocate for hom-

eowners and the real estate industry, NAR pledged to continue to address is-sues facing Americans who are trying to purchase a home, protect their current home or preserve investment opportuni-ties in residential and commercial prop-erties. “NAR and our members look forward to working with the president to once again bring stability, prosperity and community to America’s families,” McMillan said.

realtors® oppose miD... continued from front cover

PagE � • marCH 2009 • rEaLtor ProFEssioNaL EDgE • Visit www.bmar.org

For reservations or more information call Janine Schall, Marketing Assistant(212) 242-4343, (718) 892-3000, or email: Info@BMAR.org

1924-200985 Years of

Service

Attend the 85th Annual Banquet of theBronx-Manhattan North Association of Realtors, Inc.

THURSDAY, APRIL 23, 2009, 5:30 P.M.Marina del Rey Caterers Bronx, New York

Network and join us in saluting outstanding individuals and Award Recipients

Awards will also be presented to Members for years of service

AN INDUSTRY EVENT FOR YOUR NETWORKING SUCCESS

Dr. Elias KarmonDistinguished Service Award

Posthumously

James Alston Community Service Award

McCall’s Bronxwood Funeral Home

Kathy ZamechanskyRealtor of the Year

KZA Friedland Realty Consulting Services

Michael Berr Affiliate Member of the Year

Goodhart National Gorman Agency

Michael KesselmanInstitutional Member of the Year

Meridian Capital Group LLC

Floyd Cooper ……...40 Year Member Jacqueline Kyle Kall……….….40 Year Member Richard Goodman…….…....35 Year Member Cooper Group & Associates, Inc. Port of Kall Realty LLC Goodman Management Co., Inc.

Eric Sterling……..…...35 Year Member Eugene Reisman…………….30 Year Member Nicholas Chimienti…………..25Year Member Sterling Appraisals Associates, Inc. Novick, Edelstein, Reisman, Lubell, Chimienti Realty Corp. Wasserman, & Leventhal, P.C.

Richard GuarinoRealtor Associate of the Year

Extreme Realty LLC

Dr. Elias Karmon

THURSDAY, APRIL 23, 2009, 5:30 P.M.Marina del Rey Caterers, Bronx, New York

Assemblyman & Candidate for Bronx Borough PresidentRuben Diaz, Jr. - Key Note Speaker

Visit www.bmar.org • rEaLtor ProFEssioNaL EDgE • marCH 2009 • PagE 7

recession Proof business Plan...continued from front cover

85 th Ann ua l Banque t o f t h e

BronxBronx -- Manhattan North AssociationManhattan North Association

of Realtors ,Inc.of Realtors ,Inc.

Thursday, April 23, 2009

Networking Cocktail Hour: 5:30 P.M.

Formal Program, Dinner and Entertainment: 7:00 P.M.

It’s an Excellent Networking Opportunity!

Marina del Rey Caterers, Bronx, New York Dress: Black Tie Preferred

I will attend the 85th

Annual Banquet on April 23, 2009 at the Marina del Rey, Bronx, New York

Name Company ______

Address Billing Zip Telephone

No. of Reservations Amount Enclosed $ Date ______

Charge my Visa MasterCard Discover AMEX

Card # Expiration Date Signature

*CVN *CVN is the last 3 or 4 digits off of the back of the card.

Referred or recommended by

Attach the names of your guests. Printer’s deadline for Seating List is March 25, 2009.

*PAYMENT IS REQUIRED FOR PROCESSING RESERVATIONS*

Reservations Price Schedule Before March 25, 2009 are:

Reservations By Members: Reservations By Non-Members:

$200 each ticket $250 each ticket

Table of 10 - $1,800 Table of 10 - $2,500

*Add Optional RPAC (Realtors Political Action Committee) Contribution of $10 or More

$275. For Each Reservation Received After March 25, 2009

$500 each ticket at the door if available * NO CANCELLATIONS AFTER APRIL 16, 2009

85th Annual Banquet of the

Bronx,-Manhattan North Associationof Realtors, Inc.

Exchange Specialists; Exterminators; Foreclosure/Credit Rehab Loans; Fuel Companies; Hardware Supplies & Services; Intercom systems; Insurance; Iron Works; Janitorial Supplies/Building Maintenance Supplies; Laundry Ser-vices; Lead Abatement & Inspections; Mortgage Financing: Owner-manage-ment Realtors; Pest Control; Plumb-ing; Printing; Property Management; Real Estate Development Consulting Services; Real Estate Franchises; Real Estate Investors Association; Rent & Maintenance Billing; Residential Real-tors; Sewer, Drain, Heating, Meters-Oil & water Repair; Window & Glass. There is also the opportunity to add to the types of services listed above. I always try to be as inclusive as possible.

All members are listed in the Direc-tory Membership Roster for recognition and for referrals. There are additional listings for Affiliate and Institutional type members based on their specialty or service. I encourage companies to maintain multiple representatives as members especially for the larger firms with different divisions that do not usu-ally share invitations or communica-tions. Members that also advertise in the 2009-2010 Membership & Referral Directory multiply their opportunity for referrals and more business.

BMAR membership is composed of a broad base of companies and profes-sionals directly or indirectly servicing the real estate industry and business community including: licensed real es-tate brokers and agents; multi-dwelling property owners; building service ven-dors and suppliers; unlicensed property managers; attorneys; appraisers; banks; mortgage companies; fuel service and energy companies; title and abstract companies; insurance companies and insurance brokers; contractors and other companies. For more information on programs, services or events, email: info@bmar.org.

Nunzio Del Greco, RCE is the Chief Executive Officer of the Bronx-Man-hattan North Association of Realtors (BMAR) since 1983. BMAR is the local chapter for the New York State Association of Realtors and the National Association of Realtors, Inc. (The Voice For Real Estate).

PagE � • marCH 2009 • rEaLtor ProFEssioNaL EDgE • Visit www.bmar.org

Benefits of the Bronx-Manhattan multiple Listing service (mLs)

• FREE unlimited listings are featured on over 20 premium internet search engines

• No charge to member agents for unlimited MLS access 24 hours per day

• Realtors can choose to pay MLS dues annually, quarterly or a monthly flat fee

• Companies do not have to have an office in the Bronx or Manhattan to participate

• Put thousands of real estate agents to work on selling your listings

• Realtor Associate dues are the lowest in the New York area

• Be more productive and competitive regardless of the size of your company

• Additional benefits are also available...

For more information email: info@bmar.org

For more information orreservations contact Janine

Schall at: j.schall@bmar.org(718) 892-3000 or (212) 242-4343

make your reservations to attend the

85th AnnualBanquet

april 2�, 2009* * * * * * * * * *

YOUR “AD”

FITS HEREThis monthly newsletter

is sent to over 10,000 companies and professionals

throughout New York City

for more information email: info@bmar.org

rEaLtors® aCHiEVE ViCtorY witH

sHort saLE CommissioNsNAR preserves Realtor® commissions. After

extensive lobbying and educational efforts by NAR.

Fannie Instructs Its Servicers Not to Cut Com-missions on Short Sales

On February 24, 2009, Fannie Mae sent An-nouncement 09-03 to its servicers instructing them NOT to negotiate commissions on short sales below the amount negotiated by the list-ing agent (unless the commission exceeds 6 percent). The requirement took effect March 1, 2009. Fannie Mae recognizes that (a) negotiat-ing commissions for short sales is unfair because getting a short sale to closing requires intensive work over many months, often requiring working with numerous buyers, and (b) compensating real estate agents fairly benefits Fannie Mae because agents play a crucial role in short sales. The Announcement reminds servicers that third party approvals (i.e., private mortgage insurers) may be required and can affect commissions.

NAR has asked both Fannie Mae and Freddie Mac to strengthen their policies against reduc-ing short sales commissions. NAR welcomes Fannie’s announcement, and has urged Freddie to follow Fannie’s lead.

NEXt stEPs:

• NAR will continue to work with Freddie Mac and other mortgage providers to enact similar regulations that will ensure that Realtors® are compensated fairly.

• NAR will continue all actions to preserve the commissions of Realtors® in all real estate transactions.

FaQs

• Q. My lender won't pay more than 5 percent. Why not?

• A. Fannie’s policy only applies to loans it owns or guarantees. If the loan is owned or guaranteed by Freddie, the same policy should apply. Other lenders have other policies.

• Q. Why can’t Fannie require all servicers to follow its commission policy?

• A. Fannie has no jurisdiction over loans that it does not own or guarantee. Servicers handling loans for other lenders and inves-tors are subject to their policies, not Fannie’s policies.

• Q. What should I do if the servicer for a Fan-nie loan tries to reduce my commission?

• A. Tell them about Announcement 09-03. They can find it at www.efanniemae.com. Just search for “Announcement 09-03.”

For Further Information:Contact Joe Ventrone (jventrone@realtors.org) or Jeff Lischer (jlischer@realtors.org).

Visit www.bmar.org • rEaLtor ProFEssioNaL EDgE • marCH 2009 • PagE 9

(Left to right) Nik Dedvukaj, Denise Realty Corp.; Christina Taylor, Laujel Realty Corp.; Vincent Di Mella, Real Estate Mortgage Network REMN); Susan Meliti, Exit Realty Van Zandt; Barbara-Ann Benson, C-21 Wolff of Yonkers; and Maxine Mears-Clarke, Maxine Mears Clarke Real Estate.

realtor associate Networking Event HeldChairperson of the Realtor Associate Forum, Barbara-Ann Benson facilitated the recent in-formational and networking event. The Guest Speaker was Vincent Di Mella, Sales Manager for the Real Estate Mortgage Network (REMN). Benson stated “our guest speaker did an excellent job explaining how to take advantage of opportunities in this market.” Nunzio Del Greco, CEO added: “with the uncertainty in the economy and real estate industry, it is more important than ever to network and share your concerns with your peers.”

Property tax relief Property tax relief is a top legislative priority for lawmakers and NYSAR alike. REALTORS will be active advocates for significant tax reductions in the near term and structural reforms to the tax code that will foster tax savings for property owners. NYSAR will also be aligning itself with several statewide coalitions in an effort to further push for reduced state spending and property tax reform.

transactional real estate brokerageNYSAR seeks to provide an alternative to traditional buyer or seller agency that is commonly used in many other states including Florida, New Jersey, Colorado, New Mexico and others. In this type of transaction, the broker represents neither the seller nor buyer. Rather the broker remains a neutral party and still must deal honestly and fairly with all parties involved in the transaction.

provide more affordable health care to all REALTORS.

Property Condition Disclosure reforms (s. Libous / a.���4)

In 2009, NYSAR will seek to improve and streamline the current statutory required Sellers Property Condition Disclosure form with the goal of making it easier for sellers to complete and more useful for buyers.

Transparency and disclosure in co-operative housing (S. Skelos/ a. Perry; s. skelos/a.�2�� Destito)NYSAR supports legislation that would bring greater transparency to the process of considering the sale of shares in a co-operative housing corporation.

NYsar oPPosEs ENaCtmENt oF tHE FoLLowiNg LEgisLatioN:Prohibition of brokerage agreements in New York City (S.828 Kruger)

NYSAR will be opposing this new legislative proposal that would prohibit “exclusive” brokerage agreements between brokers and sellers of non-multiple, residential dwellings within New York City. If enacted, all sales contracts between sellers and brokers “shall be deemed to be void as against public policy and wholly unenforceable.” Further, the legislation states that, “No real estate broker, salesman or agent shall be entitled to earn or collect any commission for services rendered” pursuant to such contract.

Loan counseling requirement as part of contract of cale (s.��4 sampson/a.��92 towns)This legislation would require a “loan counseling disclosure notice” to be attached to all contracts of commercial or residential sale of real property. The bill requires that the form shall be signed by borrowers at the time of contract and attached to the contract of sale. Under

2009 NYsar Legislative Priorities NYsar suPPorts ENaCtmENt oF tHE FoLLowiNg:

advanced consent to dual agency

NYSAR supports legislation permitting the advanced consent to dual agency by buyers and sellers of real estate. Currently, brokers are required to provide sellers with a disclosure acknowledging their agreed to agency relationship. However, if dual agency arises, the seller must execute a new form with each and every instance. Providing advanced consent to dual agency will allow sellers to provide advanced consent to dual agency rather than signing numerous dual agency disclosure forms.

Affordable health careAccess to affordable health care is unattainable for many REALTOR members. In fact, the National Association of REALTORS reports that almost 30 percent of all REALTORS have no health insurance coverage at all. NYSAR will be examining and supporting legislative proposals that

continued on page 11

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the bill, attorneys are required to maintain updated lists of approved “home loan counselors” within 100 miles via HUD or the NYC Housing Preservation and Development websites. This legislation has serious technical flaws and in regions of the state where contracts are often prepared by real estate brokers, this legislation may have unintended consequences.

real estate licensee scope of practice (A.2975 Benjamin)NYSAR will oppose this legislation, which would mandate a real estate broker practice solely within the confines of their county of residence or the county of their principal or branch office.

Statewide transfer tax authorization (s.��� breslin) NYSAR will again oppose all legislation that would create a more fluid process for the approval of transfer tax increases, regardless of the intent of the dedicated monies.

Wetlands oversight (S.848 Marcellino) NYSAR opposes this unnecessary legislation, which would increase state Department of Environmental Conservation oversight of wetlands.

water testing disclosure (s.�2�� saland)NYSAR opposes this legislation for several reasons, including the fact that it will delay real estate closings, the lack of clarity within the legislation regarding a sunset for recession by purchasers and the ambiguity of the type and scope of water test required under the legislation.

Curbing of availability of real property records (a.2�29)Chapter 223 of the laws of 2008 amended public officer’s law to provide an exemption for the disclosure of real property information by county clerks. This legislation would eliminate this exemption and therefore severely restrict the availability of real property information for consumers, real estate licensees and other interested parties.

2009 NYsar Legislative Priorities...continued from page 9

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REALTOR®

An Official Publication Of TheBronx-Manhattan N.

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Bronx, NY 10461-6298718.892.3000212.242.4343

Nunzio Del Greco RCE ...Editor & Chief Executive Officer

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