What Your Buyers and Sellers are Really Saying

Transcription

BEST OF LEGAL HOTLINE
GPS BUYING GUIDE
Foreclosures, mortgage defaults and
short sales.
What’s the buzz and how much should
you spend?
May 2007
$5.00
What Your Buyers and
Sellers are Really Saying
From Online Business Models to Raised Expectations of REALTORS®,
Consumers Speak About the Challenges Facing our Industry
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Cover Story
WISCONSIN
May 2007
VOL. 23, NO. 8
®
A PUBLICATION OF THE WISCONSIN REALTORS ASSOCIATION
From Online Business Models
MAGAZINE™
to Raised Expectations of
REALTORS®, Consumers Speak
About the Challenges Facing
Features
our Industry
What Your
Buyers and
Sellers are
Really Saying
9
Consumer Tips for Finding a Good Mortgage
24
Supreme Court Races will Never be the Same
Finding good mortgages clients can afford with no hidden fees or
penalties can lead to happy homeownership. Learn how to make
“smart shoppers” out of your clients by helping them wade through
the myriad of information and resources available.
Judge Annette Ziegler’s victory over Madison attorney Linda Clifford
for a seat on the state Supreme Court was defined by personal
charges and record spending on both sides. Get an in-depth look at
the campaign trail and an analysis of what’s in store for Wisconsin
and Annette Ziegler in this month’s political recap.
Articles
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NEWS.WRA.ORG
REALTORS® are relying on the Internet as a transactional and
marketing tool more than ever. Arising are questions and concerns
about what is and what is not ethical. Now as we look to the National
Association of REALTORS®, should we consider an “Internet” Code
of Ethics or alternate approach to keeping the industry in check?
11
15
5
Marketing and the Internet
Best of the Legal Hotline
20
2007 Designation Guide Now Available
21
Product Showcase
23
Foreclosures, mortgage defaults and
short sales. Sound familiar? The month’s
Legal Hotline investigates the changing
financial climate of consumers and
homeownership.
Too many designations to remember?
Grab a copy of the WRA’s Designation
Guide and get plain English descriptions
of these often confused acronyms.
Streamline the exchange of critical real
estate documents between you and your
clients with electronic signatures from
ZipForm.
GPS Buying Guide
What’s the buzz and how much should
you spend? Prime your knowledge of
GPS navigation and discover the latest
bells and whistles in this month’s
Technology Corner.
Sales Tip
Who’s got the balance of power? Many
consumers are feeling the effects of a
buyers market. Get details on the latest
swing and fine tune your skills with an
ABR designation.
Pier Protection Bill
More than just De Ja Vu! It’s back.
Pier protection... Get the scoop on how
current Wisconsin legislation is trying to
protect existing piers from pending DNR
regulations.
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Inside
the wra
with Bill Malkasian
A
pril is when we do our strategic planning for the
upcoming fiscal year. The process allows us to look at
challenges of the future, what programs to offer, and
where to allocate dollars in our budget. We’ve been
doing strategic planning for years, but this year we decided
to do something different. We included input from the staff and
leadership of the Illinois, Minnesota and Wisconsin state and local
associations, as well as selected brokers from those states.
Bill Malkasian
WRA President
The goal of this year’s process was to break down commerce
barriers between states and forge partnerships to further the
Midwest regional economy. The group looked at three areas where
our states can work together: licensing reciprocity, data sharing
and legislative issues.
Licensing Reciprocity
• Developing a Midwest-level housing report, starting with
Wisconsin, Illinois and Minnesota, that can be released to
membership and the media periodically. This would track
current market conditions and future market trends;
• Creating a seminar series for market areas such as DuluthSuperior, Minneapolis-Wisconsin and Wisconsin-Illinois
for participants from those states to learn the practices of
professionals in both locations;
• Examining all MLS rules and regulations for out-of-state access
and usage.
Legislative/policy issues
And finally, the group discussed areas where our states can work
together on legislative and policy issues. Some ideas include:
Although some reciprocity already exists between states, there are
areas where we can simplify the process. The committee came up
with the following ideas:
• Affordable housing
• Identify areas where Wisconsin and Illinois, and Minnesota and
Wisconsin can move closer in terms of licensing and continuing
education;
• Regional MLS development
• Develop a Web site that outlines licensing in the various states
and how to be eligible to work in the other neighboring states;
• Tax policy
• RESPA issues
• Litigation environment
• Developing strategies that support job formation
• Offer courses that outline the licensing requirements of each
jurisdiction and facilitate licensure in those jurisdictions;
The next step is to present these findings to the WRA Board of
Directors and determine a course of action for 2008.
• Develop a working document that outlines the differences
in state requirements to provide a guideline for multi-state
licensure requirements.
Turning to this month’s issue of Wisconsin Real Estate Magazine,
look for a special feature and focus group recap of “What your
homebuyers and sellers are really saying.” Facilitated by Sharon
Chamberlain of Chamberlain Research, you’ll hear from focus
group participants on their recent real estate transactions and gain
insight on how the business climate is changing from a consumer
perspective.
Data Sharing
Sharing data across state lines already occurs in some cases. For
example, the MLS system in western Wisconsin serves both that
area as well as eastern Minnesota.
Other areas proposed for further investigation that may facilitate
data sharing include:
• Developing links that enable brokerage firms and MLSs to share
each other’s listing databases;
Last, you may have seen a new service from the WRA called
REALTOR® Newswire, a weekly e-mail update on late breaking
news in the real estate industry. We are glad to arm you with the
latest market information as it becomes available from the WRA. As
always, we appreciate your comments and feedback and wish you
the best of luck gearing up for the summer selling season.
Sincerely,
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WISCONSIN REAL ESTATE MAGAZINE, MAY 2007
news.wra.org
Wisconsin Real Estate Magazine™ is published by the
WISCONSIN REALTORS® ASSOCIATION.
Trademark issued pursuant to Wisconsin state statute; federal trademark is pending.
Roger Rushman, Chairman
rrushman@firstweber.com
Mike Spranger, ABR, CRS, GRI, Chairman-Elect
sprangerm@firstweber.com
n o t e s
f r o m
t h e
w r a
Mike Mulleady, GRI, Treasurer
mikemulleady@northwoodsrealty.com
William E. Malkasian, CAE, President
wem@wra.org
Editorial Staff:
William E. Malkasian
Are You Paying
Too Much for
Your Phone
Service?
Publisher
Robert Uhrina
Managing Editor
Terry O’Connor
Publication Editor
Nicole Breithaupt
Graphic Designer
Cover Design by: Nicole Breithaupt
Wisconsin Real Estate Magazine, USPS 597-850, ISSN 15480526, is published monthly by the WISCONSIN REALTORS® ASSOCIATION,
4801 Forest Run Road, Ste. 201, Madison, WI 53704. Periodical postage
paid in Madison, WI and additional mailing offices. An annual subscription
rate of $5 is included in membership dues and a copy is mailed to every
paid REALTOR® and affiliate member of the association. Nonmember
subscription rate: $60. POSTMASTER: please send address changes to the
WISCONSIN REALTORS® ASSOCIATION, 4801 Forest Run Rd., Ste. 201,
Madison WI 53704-7337.
Permission to reprint or quote any material from this issue is hereby granted, provided the Wisconsin Real Estate Magazine is given proper
credit in all articles or commentaries, and the WISCONSIN REALTORS®
ASSOCIATION is provided with a copy of any reprint.
Advertising of third party products and services herein does not imply
endorsement by the WRA unless specifically stated. Furthermore, the WRA
does not endorse, approve, or otherwise warrant the accuracy or legality
of any information or content contained in advertisements. Any questions
regarding advertising policies should be directed toward the editor.
Contact Us:
4801 Forest Run Rd., Suite 201
Madison, WI, 53704-7337
(608) 241-2047 • (800) 279-1972
legal hotline: (608) 242-2296
•
(800) 799-4468
general fax: (608) 241-2901
products/education fax: (608) 241-5168
legal hotline fax: (608) 242-2279
president fax: (608) 242-2267
e-mail: editor@wra.org
Web site: www.wra.org
The Wisconsin REALTORS® Association endorses AMI
Communications as a member benefit. This company
is a full-service telecommunications company offering
a long-distance plan for your company.
AMI Communications’ long-distance service plan
features the following discounted rates:
Outbound and Inbound (800) Service Rates:
Interstate (state-to-state) – $0.045/min
Intrastate (in-state) – $0.045/min
If you would like AMI to review your current service
arrangement, contact them at (800) 254-3202 and
ask for Brett McCullough, or e-mail your inquiries
to him at bmccullough@ami.net.
Intralata (local toll) – $0.045/min
Other features of this plan include:
• No term or volume commitments
involved.
• No time-of-day restrictions. Rates are
the same 24 hours a day, seven
days a week.
• No monthly plan fee.
• Detailed easy-to-read billing statements
• Calls are carried on the extensive,
state-of the art network of a major
carrier.
• Teleconferencing solutions to voice
and data circuits.
• Service is available for your office
and residence.
with usage summaries and management
reports.
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May 2007
R E A L T O R®
NEWSWIRE
Top News Stories in and Around the Industry
“IRS Cracks Down on Real Estate Agent
Classification”
“Federal Home Loan Bank Sets Aside
Millions for Wisconsin Affordable Housing”
A growing number of licensed real estate agents and brokers are being audited by the
Internal Revenue Service. Those who are unable to prove that they meet the definition
of a real estate professional under the Internal Revenue Code (IRC) are classified as
passive real estate investors and prohibited from deducting their job-related losses,
including depreciation as well as office and travel expenses, in full. The IRC dictates
that real estate professionals must be a material participant in real property trades
or businesses, to which over 50 percent of their personal services or more than 750
hours must be tied. Appointment books, calendars and narrative statements can be
used to prove material presentation, and daily time reports and logs may be helpful
as well.
The Federal Home Loan Bank of Chicago has agreed to allocate
$27 million to fund affordable housing programs in Wisconsin and
Illinois. Last year, the government-sponsored wholesale bank set aside
$21 million for such initiatives. The Federal Home Loan of Chicago
currently counts over 200 Wisconsin banks among its members.
Inman News, Butters, Robert D.; Fayne, Adam
“U.S. Foreclosure Activity Seen Rising 33 Pct”
Reuters, Christie, Jim
RealtyTrac Inc. predicts that rising subprime mortgage defaults will push foreclosures up
33 percent this year from 2006. During the year-over-year period ended in February,
RealtyTrac reports a 12-percent surge in foreclosure filings nationwide to 130,786, or
one per 884 households. Nevada led the nation in new foreclosures, which shot up
24 percent there to 3,124 last month--or one per 278 households--from January. Also
in the top 10 were Colorado, Florida, Georgia, Michigan, Tennessee, Ohio, Texas,
Arizona and Indiana.
“Wi-Fi Worry: Laptops at Risk of Attack”
Seattle Times, Abdollah, Tami
Hackers are increasingly targeting laptop users who connect to the Internet via wireless
connections in their homes or at Wi-Fi outlets located in cafes, hotels, and airports.
These attacks can take one of several forms. An “evil twin” attack, for instance, entails
hackers creating Wi-Fi access points using names such as “Free Airport Wireless” or
Linksys or D-Link, two commercial brands of wireless routers. If the victim’s computer is
set up to automatically connect to a wireless access point, it could connect to the fake
access point, or “evil twin,” created by the hacker without the victim’s knowledge. The
hacker could then get into the victim’s personal files, steal passwords, and/or plant a
virus on the victim’s computer. A “man in the middle attack,” meanwhile, occurs when
hackers route a victim’s Internet connection through a false access point to a legitimate
wireless connection. This gives the hacker access to any information the unsuspecting
victim enters, such as credit card information. Though this type of attack has been
around for some time now, its use has increased in the past couple years because
the necessary tools have become very easy to acquire, said Geoff Bickers, a special
agent for the FBI’s Los Angeles cyber squad.
“FEMA Re-Maps Wisconsin Flood Plains”
WBAY-TV (Green Bay, WI) Alexander, Jeff
The Federal Emergency Management Agency (FEMA) confirms that it is currently busy
remapping the floodplain areas of Wisconsin’s 72 counties. Brown County appears
to be one of the first jurisdictions targeted, with approximately 30,000 acres likely to
be designated as floodplains. Because no new residential or commercial development
is permitted in a floodplain, affected communities such as Bellevue and Humboldt on
the upper reaches of Baird Creek have already begun hiring engineering firms to
conduct more detailed research in hopes of convincing FEMA officials to ease some of
the restrictions. Additionally, Brown County is urging homeowners in low-lying areas
to find out if their property is now technically considered “floodplain.” Brown County
Zoning Administrator Bill Bosiacki comments, “How that whole process is going to
play out will all depend on FEMA and the meeting they’re going to have here in Brown
County at some point, hopefully this year.”
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REALTOR® Newswire is a monthly news service prepared exclusively for the Wisconsin REALTORS® Association by Information, Inc.
Reproduction, use, or inclusion of this material in other publications, products, services or Web sites is not allowed without prior
written permission from the Wisconsin REALTORS® Association.
Milwaukee Business Journal (WI)
“Farm Credit System to Present Proposals
to Congress”
Ohio Farmer
The Farm Credit System wants to expand its service to single-family,
owner-occupied homes as a way to make competitive mortgages
available to more rural families. Representatives from the Farm Credit
System plan to present a proposal to Congress on Tuesday, with hopes
of joining other USDA programs that are able to operate under the
updated definition of rural--which is now an area with a population of
up to 50,000 people. Currently, residents of towns with up to 2,500
people can only receive mortgages from the Farm Credit System. The
proposal is part of a larger plan to improve access to capital for
farmers, ranchers, and rural families.
“Official: Rural Communities Face Many
Challenges”
Stevens Point Journal (Wis.) Gieseken, Carlos
Wisconsin Department of Agriculture, Trade and Consumer Protection
Secretary Rod Nilsestuen calculates that the state’s farmland is
disappearing at about 30,000 acres a year. This would make
Wisconsin the state with the most rapid loss of farmland in the entire
Midwest region. Nilsestuen earlier this week gave a speech at the
University of Wisconsin-Stevens Point during which he touched on the
challenges rural communities in the state now face. He remarked, “I
don’t think many of us want [Wisconsin] to look like [New] Jersey. The
loss of land has had an impact economically and on its character as
a place to live.” He also spoke of the huge potential of Wisconsin’s
bio-economy. The state is among several leaders in the region in
manufacturing alternative fuel sources such as ethanol and methane
digesters on dairy farms, which can power up to 700 homes.
“WHEDA Hands Out $100 Million in Housing
Tax Credits”
Milwaukee Business Journal (WI)
The Wisconsin Housing and Economic Development Authority
(WHEDA) reports that it is distributing more than $100 million in
affordable housing tax credits for 37 projects statewide. These
projects will add more than 1,300 affordable housing units in nearly
two dozen villages and towns throughout Wisconsin. For the first
time, a half-dozen Native American tribes will receive almost $19
million to build apartment complexes for low-income families living
on tribal land. Meanwhile, two of those taking part in WHEDA’s
mentor-protégé program--which teams an experienced developer with
a minority developer on a tax-credit project--are set to receive $10
million in credits for housing projects on Milwaukee’s north side.
What Your Buyers and
Sellers are Really Saying
From Online Business Models to Raised Expectations of REALTORS®,
Consumers Speak About the Challenges Facing our Industry
BY THERESA O’ CONNOR
A
t the WRA’s Management Conference a unique program
was offered to attendees – the opportunity to view and
listen to a live focus group of 13 recent home buyers
and sellers. The group represented a cross section of consumers
from across the state who used different real estate business
models to tackle their transaction. Sharon Chamberlain of
Chamberlain Research in Madison facilitated the discussion,
who asked the group about different business models they used,
their expectations, how they used the Internet, and what
additional “pay-for” services they would consider. The following
are excerpts from the discussion.
Moderator: The purpose of today is to explore your
expectations when buying or selling a home – if
some of you have done both, I’m anxious to hear
your comments. First, let’s start with how many of
you considered more than one real estate business
model in purchasing or selling your home?
Consumer 1: We had a house for sale that we listed with an
online limited service broker, and then we switched to a fullservice REALTOR®.
What Your Buyers and Sellers are Really Saying ...
continued on page 6
5
I decided that if I was going to sell
with a REALTOR® it was going to
be through an agent whose name
was out there in my neighborhood.
What Your Buyers and Sellers are Really Saying ... continued from page 5
Moderator: Why did you switch?
Consumer 1: Because our house was on the market for six months
and we were already in our new home.
Moderator: So did you pick her based on how many
signs there were in the area?
Consumer 3: Yes.
Moderator: Then you were in a hurry?
Moderator: You didn’t know her before?
Consumer 1: Yes. Also, our old house was in Colgate and there
was not a lot of drive-by traffic, and we were living out of the area
and working full time.
Consumer 3: No, never met her.
Moderator: So you thought a REALTOR® would bring in
traffic?
Consumer 1: Yes, and the limited service model got to be too
much with the showings and working full time.
Consumer 2: We’ve sold three houses “for sale by owner”, but the
last one we sold was kind of a unique situation. It was in Mequon,
but in the country. There was not a lot of drive-by traffic. We
needed a really good agent because it was going to take a
certain kind of buyer that wanted to live out there (in Mequon) –
and it worked out really great. It sold fast. I don’t think we would
have gotten the same results if we had sold it ourselves. The real
estate agent was someone we knew. I knew he did a lot of
business in the area. He has the most exposure in Mequon – a
name you see everywhere.
Moderator: Anybody else consider different models?
Consumer 4: We started out as a FSBO. We were looking for a
new home and we had a vacant lot we were going to build on.
Throughout the process we decided not to build on that lot, so we
weren’t in any big hurry (to sell our house). We came across a
spec home that we liked and we put in an offer and it was
accepted. And so we had to get the ball rolling. I think that gave
us about three or four months until move-in… so, we hired a
REALTOR®.
Moderator: How did you find that REALTOR®?
Consumer 4: A friend of ours in the subdivision sold it for us. His
name was plastered all over the subdivision. He knew the area
well.
Moderator: So that gave you some confidence that he could sell
your home?
Moderator: Do you pay attention to the real estate
signs (with agent’s names on them)? If you see a lot of
signs out there with one company, what does that say
to you?
Consumer 4: Yes.
Consumer 3: That they know the market the best and they’ll be
able to sell it the best and the fastest. Where I was in Wauwatosa,
there were at least three agents whose names you saw constantly.
I decided that if I was going to sell with a REALTOR® it was going
to be through an agent whose name was out there in my
neighborhood. I figured: one, she could bring the most clients to
my house; and two, she knew the area so well that she could
probably price it so it would sell fast.
Consumer 5: I did. I was doing it on my own. I’m a widow. I was
trying to get back to Milwaukee (from Anchorage), but I wasn’t in
any hurry. I had my house up on FSBO but then I had to keep
coming back here for health reasons and so I decided to go with a
REALTOR®. One of my neighbors was with a firm and she came
down and saw my sign and offered to help with open houses. It
made a big impression that she would do that for free so WHEN I
decided to go with a REALTOR®, I went with her.
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Moderator: Did anyone else have to struggle with
choosing how to sell your home?
NEWS.WRA.ORG
I felt that since we were paying the full commission, our
REALTOR® should handle everything – open houses,
signage, communicating with us, and do the haggling back
and forth so we wouldn’t have to get in the middle of it.
Moderator: Ok, so she had proved herself ahead of
time?
Moderator: And how did you communicate – phone or
e-mail?
Consumer 5: Yes. And she lived in the neighborhood. I had quite a
large house in the mountains overlooking Anchorage and it was in
a neighborhood that people don’t drive through. You need contacts
(interested prospects).
Consumer 1: Both.
Moderator: For those of you who used a real estate
agent, what kind of services did you expect from him
or her?
Moderator: Talk to me a little about how you used the
Internet in the process.
Consumer 2: I felt that since we were paying the full commission,
our REALTOR® should handle everything – open houses, signage,
communicating with us, and do the haggling back and forth so we
wouldn’t have to get in the middle of it.
Consumer 3: We used a buyer’s agent to buy our house and we
were in a time crunch. So we needed something really quick
(because we sold our home). I used her because she could set up
all the appointments for me rather than me trying to set them up
myself.
Moderator: So she made it go smoothly and handled
all the details of getting in and out of the houses, so
you just pretty much had to show up.
Consumer 3: Right.
Moderator: Who had a listing agent and what were
your expectations?
Consumer 1: My expectations were different for each part of the
transaction. For example, for the vacant lot we have for sale, I rely
on the agent. She keeps an eye on the other comparable lots in the
area – whether they’ve sold, whether they’re dropping the price –
and what she’s heard on the street. She also knows a lot of
builders, which is important to me when you’re selling a vacant lot,
because again, it’s those contacts you need. And the
communication is really important to me. For me, it’s important that
I know what’s going on in the neighborhood. I want to know what’s
going on with my own house. I want to know what people said
when they walked through it. That’s why my primary consideration
is to sell it, but secondly to let me know what’s going on.
Moderator: How often?
Consumer 1: We probably talked every other day.
Consumer 4: I thought it was a nice timesaver because you put in
your parameters, number of bedrooms, price, etc., and it spits out
an entire list and you can eliminate the one’s that don’t interest you.
I’d print them out and then let our REALTOR® know which ones we
were interested in.
Moderator: Anybody use the Internet a little
differently?
Consumer 2: I would look in the Sunday paper for the listings I was
interested in. Then, I would go on the Internet to see the properties.
You can’t really tell from the paper what the rooms look like – for
example, the kitchen. One person’s version of the term “updated” is
another person’s version of “needs a lot of work.” By going online,
I could tell whether or not it was something I even wanted to see.
Consumer 1: I didn’t use it to buy, but I used it to watch houses
selling in my neighborhood. I’d put in what we were asking and I
pictured myself as the buyer. If I’m going to spend “x” amount of
dollars, what are my choices and how does my house look
compared to the others listed. I also used it to see if (my neighbors)
were dropping their prices.
Moderator: If you recently put your house on the
market or are looking for a new house right now,
how many of you would use the same REALTOR® (as
your previous transaction)?
[Most focus group participants raised hands their hands.]
What Your Buyers and Sellers are Really Saying ...
continued on page 8
7
What Your Buyers and Sellers are Really Saying ... continued from page 7
Moderator: Ok, most of you. How many of you
wouldn’t (use the same REALTOR®)?
Consumer 6: Not for the commissions they get paid.
Moderator: Do you think the commissions are too
high?
Consumer 6: I know they’re too high.
Consumer 3: Yes, especially with the prices of houses these days.
The average commission is five or six percent and now they’re
talking about raising it to seven or eight. It just makes sense to put
it out there as a FSBO if you’re not in a big hurry and see what
happens.
Consumer 2: We did about a million and a half (of business) with
our agent in a matter of about two weeks and we never got a
thank you, which is really terrible. The other time we used a real
estate agent, she bought us a gift certificate. And it doesn’t need
to be big, but when you spend that kind of money and you don’t
get a “thank you, I appreciate your business,” I would NOT refer
him to others.
Moderator: What would you have expected?
Consumer 2: Even just a handwritten note.
He was always giving us information on
people who came through the house,
telling us what they liked, what they
didn’t like, why they chose not to make
an offer. That feedback is so important.
Moderator: If you were going to sell your house,
would you be willing to choose a REALTOR® who is not
the cheapest, if he or she was going to give you
additional services, and what would those services
be?
Consumer 8: It would depend on the services, but probably not.
Consumer 6: Maybe some sort of incentive like, if they can sell it
in the first week, they start with a higher commission, and the
commission goes down the longer it takes to sell.
Consumer 3: Perhaps having one of those staging agents that I’ve
seen on TV. They come in and tell you how your house should look
to sell it.
Consumer 6: Especially when you see the checks that they’re
getting!
Consumer 2: There are a lot of agents out there. You pick the best
one. Am I going to pay more for a good agent? Above and
beyond the going rate? No.
Consumer 7: (Buying a home) San Antonio was the best
experience we had because they gave us a home warranty.
Everyone who’s transferred down, we’ve referred to that
REALTOR®, so he’s made his money many times over.
Consumer 4: The one thing I would do – pair up with a cleaning
service or get a discounted rate. The only thing I hear over and
over from people is “if they’d clean my house.”
Consumer 2: At least acknowledge the business. I don’t need to
hear from them every six months, but just acknowledge the
business.
Moderator: Would the rest of you recommend a real
estate agent to someone else?
Consumer 4: Yes, I’m a sales rep, so I’m recommending him all
day long. He was very professional the whole way through. I can’t
say one thing bad about him. He met all our expectations.
Moderator: Tell me a little more about that
(about meeting expectations):
Consumer 4: The open houses – the number he did. I didn’t expect
an open house every week, but every time we expected an open
house or expected something to happen, he just did it. The
communication was always there. He was always giving us
information on people who came through the house, telling us
what they liked, what they didn’t like, why they chose not to make
an offer. That feedback is so important.
8
Consumer 5: Storage lockers for people who had too much
furniture in their rooms. Items that need to be removed because a
house shows better if there’s not too much clutter.
Consumer 1: Inspection and other things can be at a reduced rate.
Like a coupon book.
Consumer 3: I’ll pay the higher commission for the faster sale.
Consumer 6: (Have the) REALTOR® set up something with the
appraiser and the inspector where you could get all of the services
cheaper…. “come with me, and I’ve got a list of appraisers who
will give you a 50% discount and an inspector who is going to
give you a discount on these service” – a package deal.
Theresa O’Connor is publication editor for Wisconsin Real Estate
Magazine.
Please note: The names of firms and individuals have been
removed from this article to protect confidentiality. Focus Group
responses are not necessarily the opinions of the WRA, but rather
a record of how individuals responded to questions from the
facilitator.
NEWS.WRA.ORG
Marketing
& the
Internet
What are the Rules?
BY KEVIN KING
I
t is no surprise that REALTORS® are relying on the Internet
as a transactional and marketing tool more than ever.
Arising are questions and concerns about what is ethical in
many of these new activities. For example, over the past several
years the National Association of REALTORS® Professional
Standards Interpretations and Procedures Subcommittee
considered whether a separate “Internet” Code of Ethics
should be developed, or alternatively, whether the existing
Code could be supplemented with Internet-specific Standards
of Practice and other guidance. It is the current conclusion that
a separate “Internet” Code would be potentially confusing and
that appropriate guidance can be given within the framework
of the existing Code of Ethics.
The work has begun – as you can see from the changes made to
the Code for 2007. One of the concerns raised is the agent Web
site that appears to the consumer to be a separate company
with little, if any, disclosure of the agent’s affiliation with the
brokerage firm. As a result, new Standard of Practice 12-9 states,
“REALTOR® firm websites shall disclose the firm’s name and
state(s) of licensure in a reasonable and readily identifiable manner.
Websites of REALTORS® and non-member licensees affiliated
with a REALTOR® firm shall disclose the firm’s name and that
REALTOR®’s or non-member licensee’s state(s) of licensure in a
reasonable and readily apparent manner.”
Internet Marketing ... continued on page 10
9
Many who operate a weblog do not consider it advertising
Internet Marketing ... continued from page 9
Another concern deals with the capture and use of consumers’
personal information when visiting REALTORS®’ Internet sites.
New Standard of Practice 12-11 provides, “REALTORS® intending
to share or sell consumer information gathered via the Internet
shall disclose that possibility in a reasonable and readily apparent
manner.” An important note of caution: would any of the
consumer’s information collected via the Internet be considered
“confidential”? If so, even with a disclosure of intent to share or
sell information, any information that a reasonable person would
expect to be confidential cannot be shared or sold absent the
specific consent of the consumer.
And there are more questions and
concerns. We know that Article 12 requires
REALTORS® to present a true picture in
their advertising and representations to the
public and to ensure that their professional
status or status as a REALTOR® is clearly
identifiable in such advertising. But what if
the communication is not advertising?
Estate Company. On his blog, he provides general information
about the home buying or home selling process. Visitors to his
blog can request additional information by providing contact
information. If all that he is doing is providing information, does
Article 12 apply? Is this advertising?
Let’s say Kevin goes a bit further. In addition to information about
home buying and home selling, he conducts “surveys” or provides
an opportunity for visitors to exchange information. Currently
on his blog he asks about the new listing at 123 Elm Street – has
anyone seen it? What do they think of the kitchen remodel? Did
they like the landscaping in the backyard? 123
Elm Street is not Kevin’s listing. Does that make
any difference? What if some of the comments are
subjectively negative? Someone doesn’t like the
paint scheme and totally trashes the property. Is
this advertising or just providing people a chance
to give their opinions? Is there any obligation to
respond to negative comments?
As we are all
experiencing, the
market is changing
– and new tactics
are being created
every day to
address these
changes
In recent years, REALTORS® have made
increased use of electronic newsletters
and weblogs as part of their arsenal of
marketing techniques. Now, most people
would agree that electronic newsletters fit
under “advertising.” Generally, advertising
is considered to be the promotion of
goods, services, companies and ideas by
an identified sponsor. Advertising can be part of an overall
promotional strategy that could include public relations, personal
selling and sales promotion.
Weblogs (blogs) have created a whole new concern. Many who
operate a weblog do not consider it advertising. For instance,
Kevin is a REALTOR® working for the ABC Real Estate Company
as an agent. He has created “Kevin’s Blog” on the Internet. There is
no identification of Kevin as a REALTOR® or even as a real estate
licensee, and no indication that he is affiliated with the ABC Real
What if Kevin’s survey asks visitors to rate area
REALTORS®? What if information that was
provided by other persons was defamatory and
untrue? Does Kevin have any responsibility
for this information? Can he defend himself
by saying it’s not his words? Does this activity
constitute advertising?
As we are all experiencing, the market is changing
– and new tactics are being created every day to
address these changes, including very similar activities to those
described above. In some instances, we may not yet have the
defined rules or guidelines as to what constitutes professional and
ethical behavior. For now, a safe harbor appears to be to present
a true picture always (even if the “picture” is not yours) and
disclose who you are, even if it is not “advertising.” In the end, the
consumer will undoubtedly appreciate your honesty.
Kevin King is general counsel for the WRA.
It is the current conclusion that a separate “Internet” Code would be
potentially confusing and that appropriate guidance can be given within
the framework of the existing Code of Ethics
10
NEWS.WRA.ORG
Mortgage
Mending
How Can You Help Consumers?
BY DEBBI CONRAD
A
n explosion over the past few
years in adjustable rate mortgages
(ARMS)
and
interest-only
mortgages has recently led to a growing
number of foreclosures and borrowers at
risk. This phenomenon often corresponds
to an upward adjustment in the interest
rate or the payment amount that the
borrower is not equipped to handle. Some
borrowers are lucky enough to refinance,
but if the home is no longer worth the
purchase price, those homeowners often
tumble into foreclosure.
Lenders and regulators have reacted:
Lending standards are tightening, which
may make it difficult for many potential
home buyers to find financing and for
borrowers at risk to find refinancing. Loans
with no or minimal down payments and
small monthly payments up front -- many
of which were granted with minimal to
no documentation of income or assets in
the past few years – are becoming rare.
Home buyers with damaged or thin credit
histories may have to postpone their plans
until they can save money for a down
payment and build better credit.
Facing Foreclosure
If approached by a consumer in trouble
with his or her mortgage loan, urge them
to immediately contact their lender’s loss
mitigation department or seek a qualified
credit counselor or attorney to assist. Many
lenders will refinance or try to work out
some other solution if the consumer’s
financial situation is salvageable.
Warn consumers about offers to “save”
homeowners who are at risk of defaulting
on loans or whose houses are already
in foreclosure. Perpetrators mislead the
homeowners into believing that they can
save their homes in exchange for a quitclaim
deed and up-front fees. The FBI warns
that these companies profit from these
schemes by re-mortgaging the property
or pocketing fees paid by the homeowner
without preventing the foreclosure. The
victim loses the property and the up-front
fees.
Refinancing Rules Changing
Loan officers taking applications will now
demand income and asset verifications
and proof, not always the case over the
past few years. Without evidence of real
income, some borrowers will be unable to
refinance. If they can’t resell, they may lose
the fight and succumb to foreclosure.
National Association of REALTORS®
President Pat Vredevoogd Combs has
strongly urged the Department of Housing
and Urban Development to change Federal
Housing Administration (FHA) rules and
waive the existing requirement that a
homeowner’s mortgage be “current” in
order to refinance into an FHA loan product.
This would permit a significant subset of
borrowers behind in their payments and
facing the prospect of foreclosure to safely
refinance into an FHA mortgage.
How Can REALTORS® Protect New
Buyers from Bad Mortgages?
for financial and legal assistance and by
providing information – like the “Consumer
Tips for Finding a Good Mortgage” on
page 10.
Buyers who are educated about the basics
of consumer credit, mortgage loans and
homeownership are less likely to be tricked
by unscrupulous lenders. Make sure they
know there are alternative lenders and
mortgages if they shop around.
• Help buyers find out how to obtain their
credit score and a copy of their credit
report. For information about obtaining
credit reports and credit scores, see the
Mortgage Loan Assistance REALTOR®
Resource page or the Fair Isaac site at
www.myfico.com.
• Insist that buyers be pre-qualified before
they hunt for homes so that they know
what they can afford and do not overextend
themselves.
• Encourage first-time home buyers and
home buyers with no credit history or a
marginal credit standing to attend credit
counseling or home buyer counseling
classes. Lists of counseling services appear
in the Consumer Resources section of
the WRA Mortgage Loan Assistance
REALTOR® Resource page at
www.wra.org/mortgages.
• Use the Mortgage Loan Consumer Handout
and the Predatory Lending Consumer
Handout that appear in the Consumer
Resources section of the WRA Mortgage
Loan Assistance REALTOR® Resource page
at www.wra.org/mortgages. REALTORS®
can copy these pages back-to-back on one
sheet of paper and distribute them to the
buyers they work with.
REALTORS® can try to protect their clients
and customers from risky loans and assist
those in jeopardy with their current loans
by guiding them to the proper counselors
11
Best of
Legal Hotline
Sellers with Financial Hardships
Foreclosures and short sales
Timing of Sheriff’s Sale
BY TRACY RUCKA
A buyer’s agent wrote an offer for a buyer. After the
offer was accepted, they found out that the home is
going to a sheriff’s sale due to a bank foreclosure. The
sheriff’s sale and judicial confirmation are scheduled
to occur before the closing date on the offer to
purchase. What can be done for the buyer?
The buyer and seller may renegotiate the closing date
on the offer to purchase to complete the transaction
before the sheriff’s sale and confirmation. If this is not
possible, the buyer may wish to consult an attorney.
The buyer may consider purchasing the property at
the sheriff’s sale. Alternatively, if the lender is the
high bidder at the sheriff’s sale, the buyer may later
attempt to purchase the property from the lender.
As a buyer’s agent, the agent may help the buyer
negotiate with the lender.
This situation might have been avoided with timely
disclosures. A seller cannot close a transaction after
judicial confirmation of the sheriff’s sale because the
seller no longer has title. The listing broker (if there
is one) should have disclosed that the transaction
outlined in the offer could not close before judicial
confirmation of the sheriff’s sale, making the
transaction, as negotiated, futile. Licensees are
required to disclose material adverse facts, which
includes “information that indicates that a party to a
transaction is not able to or does not intend to meet
his or her obligations under a contract or agreement
made concerning the transaction.”
Lender Approval
A listing broker has a property that is on the verge of
foreclosure, but the bank may consider a short sale.
The bank is requiring the seller to get its approval for a
12
short sale. A number of offers have been received, but
the bank has not approved any of them yet. Can the
seller accept an offer before the bank approves?
The fact that the bank is willing to consider a
short sale may forestall the commencement of the
foreclosure action, but it will also limit the terms and
conditions under which the seller may accept any
offer. If the bank will not give prior approval before
the acceptance of an offer, the offer may need to be
drafted with a lender approval contingency. The
seller may be referred to legal counsel for advice on
the most appropriate way to respond to offers and
to obtain a lender approval contingency appropriate
for the transaction.
The seller is in default on the mortgage for a home the
broker has listed. The bank is asking the seller for a
deed in lieu of foreclosure and has also agreed to do a
short sale. There are two offers, and the bank has told
the sellers to do nothing because the bank wants to
counter both offers. The seller authorized the broker
to talk to the bank. The title is still in the seller’s
name, not the bank’s name, so who should sign the
counter offers?
Although the seller may need to negotiate with the
bank to get approval for a short sale, the bank is not
a party to the transaction. As long as the seller holds
title, the seller is the party with the authority to counter
the offer. The bank may, however, recommend the
terms and conditions that would meet with their
approval. The seller may then direct the listing
broker regarding the provisions and language that
should be included in the counter-offer.
If the seller elects to provide the bank with a deed in
lieu of foreclosure, then the bank becomes the owner.
NEWS.WRA.ORG
In such a case, the listing broker would have to enter into a new
listing contract in order to continue to provide brokerage services
for the property.
Although a licensee may attempt to assist in negotiations regarding
the short sale between the seller and bank, this activity is arguably
outside the scope of real estate brokerage services. Regarding the
deed in lieu of foreclosure, the broker may not provide legal advice
to the seller regarding his rights and obligations to the bank and
whether electing to accept the deed in lieu of foreclosure is in the
seller’s best interest. See Legal Update 07.01, “Avoiding Foreclosure,”
online at www.wra.org/LU0701 for more information about the
seller’s options when there is a pending foreclosure.
Listings
Can a broker enter into a listing with a seller if the seller is in
foreclosure?
Yes, the property may be listed. However, the seller and the
broker may need to work with the lender, the seller’s attorney and
potential buyers to create strategies to complete the transaction
prior to the completion of the foreclosure action. A prudent broker
will begin by asking the seller about the status of the foreclosure,
whether the seller has attempted to negotiate with the lender and
if they have consulted with a financial advisor. The broker may
also order a search and hold from the title company to obtain more
information regarding what other liens may be on the property
and the seller’s ability to complete the transaction. See Legal Update
04.02, “Listing Procedures for the Prudent Broker,” online at
www.wra.org/LU0402.
Timing of Disclosures
If a broker enters into a listing where there is a pending foreclosure,
a possible short sale or the possibility of bankruptcy, does that have
to be disclosed to all potential buyers?
Whether the possibility of a short sale, foreclosure or bankruptcy
needs to be disclosed as an adverse material fact is a judgment
that only the broker can make after considering all of the facts and
circumstances in the transaction. For example, the fact of a short
sale itself may not require disclosure if the transaction is going
to come together and close. On the other hand, a short sale may
need to be disclosed if it appears that the seller will not be able
to complete the transaction. A foreclosure may not need to be
disclosed if the buyer can close before judicial confirmation of the
sheriff’s sale. A bankruptcy may cause the property to come under
the control of the bankruptcy trustee. Although disclosure may not
need to be made initially based on the information available at the
commencement of the transaction, facts and circumstances may
change, resulting in the obligation of the broker to make timely
written disclosures.
If the listing broker knows that the seller is not able to or does
not intend to meet his or her obligations under the contract, then
the short sale constitutes an adverse fact that must be promptly
disclosed to the parties in writing. Alternatively, Wis. Admin.
Code § RL 24.07(3) states that a broker is practicing competently
if he or she promptly discloses the information suggesting the
possibility of a short sale, in writing, to all parties, recommends
that the parties obtain expert assistance to investigate or evaluate
the situation and, if directed by the parties, drafts appropriate
contingencies.
13
Consumer Tips
for Finding a Good
Mortgage
F
inding a good mortgage that you
can afford and that has no hidden
fees or penalties leads to a happy
homeownership experience without the
fear of foreclosure lurking around the
corner.
Be A SMART Consumer! If you need
assistance or don’t understand something,
ask a credit counselor, a home buying
counselor, an attorney or your REALTOR®.
Your REALTOR® cannot give you legal or
financial advice, but he or she can help you
obtain the information or the assistance
that you need. Information about credit,
mortgages and home buying, including
articles to read and interactive Internet
lessons, are available on the WRA Web site
at www.wra.org/mortgages. Knowledge
gives you power!
Manage your money wisely
A borrower’s credit history is his or her
responsibility. Review your income and
expenses, monitor your credit report and
borrow within your budget. Remember
there are more costs associated with buying
a house than just the mortgage cost.
Find out your credit score
FICO scores (the most commonly used
system) range from 300-850. The higher
the score, the lower your interest rate and
monthly payments will be on a mortgage
loan. Scores over 700 or 720 are very good
and mean you qualify for the best interest
rates, while scores below 620 or 600 are
considered high risk, leading to much
higher interest rates or rejection of your
application. Low scores can be improved
by paying bills on time and keeping credit
card and other debt balances low.
14
Shop around for the best loan
available
Talk to several lenders to find the best loan
for which you can qualify. Compare the
APR (annual percentage rate) and other
fees charged. If a lender says that they
are your only chance of getting a loan or
owning your own home, keep on looking.
Tell the truth
Don’t inflate your earnings or falsify other
information to qualify for a loan -- you can
end up with payments you cannot afford
to make. A mortgage professional who
falsely alters information to qualify you
for a loan is committing fraud. Borrowers
should never sign documents that they
know to be false – that too is fraudulent.
Say NO to “easy money”
If someone claims, “Guaranteed Approval”
or “No Income Verification,” regardless of
employment, credit or assets, they are not
telling the whole story about other fees
and loan terms and don’t care whether the
consumer can afford to make the payments.
Beware of “No Money Down” loans, which
may be a scheme to entice consumers to
purchase property that they likely cannot
afford or are not qualified to buy.
Understanding Loan Terms
Borrowers should compare loan terms
from different lenders to evaluate what is
affordable and the best loan.
Know the loan application fee
Is it refundable?
Know the annual percentage rate
(APR)
This is the cost of your credit, stated as a
yearly rate.
Know the finance charge
The finance charge is the cost of the credit,
stated as a dollar amount.
Know the amount financed
This is the dollar amount of the loan or
credit that is provided by the lender.
Is the interest rate fixed or
adjustable?
Some adjustable rate mortgages start out
with very low “teaser” rates and steeply
rise after two or three years.
Know if you are paying “points”
“Points” are prepaid finance charges to
obtain a secured real estate loan and are
not refundable.
Know the total number and exact
dollar amount of each payment
Do monthly payments include property
taxes and insurance? Does the payment
amount change? Also consider any
“balloon payments,” which occur when
the scheduled payments do not pay off the
amount financed.
Are there prepayment penalties?
Prepayment penalties should be a choice,
not a requirement.
Know the payment due date
This is the date the payment must be
received by the lender.
Know about collateral
Collateral is property that is used to secure
a loan. If you default on the loan, the lender
may take your collateral. In a real estate loan
your home is your collateral.
Ask about additional fees
Ask what other fees are involved and
question any items you didn’t ask for.
Beware of inflated fees! Review every fee
and compare different lenders to ensure
the most competitive loan terms.
NEWS.WRA.ORG
adison,
2007 Designation Guide Available!
A
ABR
CRS
ABRM
e-PRO
ALC
N
200NS7IN REALTORS ASSOCIATIO
atioidne
n
g
i
s
e
d
gu
®
GAA
AMO
GRI
WISCO
ARM
CBR
MAI
C-CREC
PMN
CCIM
RAA
CIPS
REPA
CLHMS
RRS
CPM
SIOR
SRA
SRES
re you searching for a single source on designation information? Search no more. To cut
through the confusion of the various designations, the Wisconsin REALTORS® Association
has put together the Designation Guide. This handy guide is perfect for new and
experienced REALTORS® seeking additional information on: ABR, ABRM, ALC, AMO, ARM, CBR,
CCIM, C-CREC, CIPS, CLHMS, CPM, CRB, CRE, CRP, CRS, e-PRO, GAA, GRI, MAI, PMN, RAA,
REPA, RRS, SIOR, SRA and SRES.
What sets the WRA Designation Guide apart from similar titles is that it lists all of the information
you need when making a decision about pursuing a designation. This includes not only the
general educational requirements and whether or not an exam is required, but also the
estimated cost of courses, the availability of continuing education credit, application fees and
annual membership dues to maintain a designation, and more.
CRB
Learn the benefits a designation has to offer and what the requirements are to attain it.
Order your copy today! Cost of the Guide is $7.00 (includes shipping and tax). An order
form is available to print out at www.wra.org/deshandbk, which you can fax to (608)
241-5168, or mail to 4801 Forest Run Road, Suite 200, Madison, WI, 53704.
CRE
CRP
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800.2
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15
Education
Education
Education &
& Products
Products
Two-day Buyer Agency Course
Stand out as an ABR® - join over 50,000 members who are
succeeding as Accredited Buyer Representatives. Start your ABR
designation by attending the two-day mandatory class on August
15-16, 2007 in Madison and September 23-24, 2007 in Wisconsin
Dells. This is probably one of the hottest classes right now …
because Buyer Agency is becoming more and more the way
buyers want to do business. This two-day course covers agency,
service delivery, marketing and promotion, and negotiation and
risk management. Call and register today.
Do you need an elective course to complete
your ABR designation?
Check out one of the following classes:
SRES - Seniors Real Estate Specialist
August 9-10, 2007– Madison or,
September 23-24, 2007 – Wisconsin Dells
Visit: www.wra.org/SREScourses
Innovative Marketing Techniques for Buyer’s Representative
August 17, 2007 – Madison
Visit: www.wra.org/ABRcourses
E-buyer course
September 23, 2007 – Wisconsin Dells
Visit: www.wra.org/ABRcourses
The SRES class will be offered
August 9-10, 2007 in Madison
The Seniors Real Estate Specialist designation, now recognized by
NAR, is the only designation and marketing program specially
designed to serve senior property owners. SRES designees
demonstrate requisite knowledge and expertise to counsel senior
clients through the major financial and lifestyle transitions involved
in relocating, refinancing, or selling a house. Just announced: the
SRES course qualifies as an ABR Elective. This two-day SRES
course will be offered August 9-10, 2007, in Madison, and on
September 23-24, 2007 in Wisconsin Dells.
Visit: www.wra.org/SREScourses
Procedures for the Unusual Residential
Appraisal Assignment
This four-hour course was developed for the experienced
residential appraiser who wishes to gain insight into the nuances
of valuing unusual residential properties. It is based on the use of
case studies developed to illustrate the unique challenges that can
arise from these residential assignments.
Economics of Residential Finance
This four and a half hour course outlines the basics of the mortgage
lending and brokerage industries and how they provide the
background of residential valuation.
Fee per course: Appraisal Section Member - $60;
WRA Member - $65; and Nonmember - $70
You can also complete some of your Appraisal CE through the
WRA’s Distance Learning Program. For more information visit:
www.wra.org/APCEDistanceLearn
16
Graduate, REALTOR® Institute Courses
The Graduate, REALTOR® Institute (GRI) symbol is the mark of a
real estate professional who has made a commitment to providing
a superior level of professional services by earning the GRI
designation. REALTORS® with the GRI designation are highly
trained in many areas of real estate to better serve and protect
their clients.
GRI Course 1:
You can complete GRI Course 1 in one of four ways:
Test out of GRI Course 1 by taking an equivalency exam.
Register for the exam and you can complete it on the Internet.
Visit www.wra.org/GRIcourses.
Register for the GRI Course 1 Equivalency Exam at your local
board/association offered August 6 through 10, 2007.
Complete the four days of QuickStart and pass the exam. Call
the WRA at (800)279-1972 or (608)241-2047.
visit: www.wra.org/GRIcourses
Complete an approved company-training program and pass the
exam.
GRI Course 2 – September 22-25, 2007
This four-day program includes CRS201 (Listing Strategies for the
Residential Specialist), so you can earn required credits toward
your CRS designation while earning you GRI designation. GRI
Course 2 covers environmental issues, personal promotion,
business ethics, PDAs and digital cameras, creating a Web
presence, Internet marketing, tying technology together, selling
new homes and Listing strategies for the Residential Specialist
from the CRS curriculum. GRI Course 2 will be offered during
convention at the Kalahari Resort & Convention Center, Wisconsin
Dells, September 22-25, 2007.
Visit www.wra.org/GRIcourses.
CRS 206
Technologies to Advance Your Business
Technologies to Advance your Business demonstrates the latest
tools and systems that enable sales associates to become more
productive, increase their profits and differentiate themselves in
the marketplace. Topics include: taking e-mail to the next level
for various marketing campaigns, learning new ways to use
digital imaging, examining a variety of virtual tours and their
marketing applications, understanding the power of PDAs and
other handheld computing technologies and much more.
Course Content:
• Using a contact manager
• Creating printed and multimedia presentations
• Online services, e-mail and the Internet
• Improving time management
This course is being co-sponsored by the Wisconsin CRS Chapter
and the Wisconsin REALTORS® Association on August 2-3, 2007
in Wisconsin Dells. Members will receive a $20 discount.
Visit: www.wra.org/CRS206
NEWS.WRA.ORG
Sales Pre-license – Madison
To obtain a real estate license in the state of Wisconsin, you must first
complete 72 hours of approved education courses such as our sales
and licensing course. Second, you must pass a state-administered
exam. The WRA is offering an eight-day, accelerated 72-hour
sales program on May 7-10; 14-17, 2007 and July 16-19; 23-26, 2007
both in Madison. Brokers can purchase a $50 discount coupon for
only $10, which entitles your new recruit to a $50 discount on the
registration fee. Your new recruits can be ready to take the exam as
soon as they complete the class. Ask them to call and register today
at (800)279-1972. This program is also available through self-study
video or self-study Internet programs.
Visit: www.wra.org/SalesPL
Broker Pre-license
If you would like to get your broker’s license, the WRA has the
course for you! The Department of Regulation and Licensing
requires that you complete 36 hours of education and pass an
exam to become licensed. Areas of study in this course include: fair
housing; real estate practice; approved forms; trust accounts; and
more. This course will be offered on June 4-7, 2007 in Madison.
This program is also available through a video self-study version
(VHS or DVD) or a self-study Internet program. Completion of the
broker pre-license program, passing the broker exam and applying
for your broker’s license fulfills your 2007-2008 continuing
education requirements.
Visit: www.wra.org/BrokerPL
QuickStart
As you start to recruit, don’t forget to send your new agents to the
four-day QuickStart program (offered in two two-day sessions).
The QuickStart program assists agents in learning the business
of real estate. The program begins with building relationships
with buyers and sellers including prospecting, pricing properties,
responding to concerns and making presentations to buyers and
sellers. The course includes contract issues, agency relationships
and negotiating strategies. The QuickStart program also discusses
various methods of communication, goal setting, time management
and incorporating technology into a real estate agent’s business
plan. The program is designed to help agents become confident in
their practice as well as focused on their personal business plan.
Modules 3 and 4 will be held on May 23-24, 2007. Modules 1 and
2 will be offered on June 13-14, 2007, and Modules 3 and 4 will be
offered again on July 12-13, 2007 at the WRA. Upon completion of
the four modules and passing the exam, agents can receive credit
for the completion of GRI Course 1. The fee is only $240, however,
the WRA offers a new-member discount of $40, which makes the
cost of this course is only $200 - a fantastic price for four days of
instruction for your new agents.
Visit: www.wra.org/QuickStart
Don’t Just Sell…
Exchange
Capital gains tax on the sale of business or investment
real estate can be deferred with a 1031 exchange. Depend on
Patrick and the LandAmerica family of companies including
PATRICK HARRIGAN, ESQ.
VICE PRESIDENT
Commonwealth and Lawyers Title for all your 1031 exchange
questions.
Phone: 651.223.9598
Email: pharrigan@landam.com
www.1031landam.com
©2007 LandAmerica is a registered trademark of LandAmerica Financial Group Inc.
17
Casino
RoyaLe
Costume judging for: Best Bond
Girl, Best James Bond, Best
Bond Villain, Best 007 Group.
Icebreaker Party
Join us for casino night with music, entertainment and prizes!
September 23, 2007 WRA Convention
Must be registered for convention to attend. Register at:
w ww. wra. org / c o nv en t i o n 0 7
Would you like to contribute to a Casino Night prize?
Contact Kitty Kuhl at kitty@wra.org or Debbie Thacker at dthacker@wra.org for more information.
Winners do not need to be present to win, however, unclaimed prizes will be used as giveaways at the General Session on the second day.
Sales & Marketing Management
Date
Course
(Co-sponsored With the WI CRS Chapter)
May 23-24, 2007
June 13-14, 2007
July 12-13, 2007
August 2-3, 2007
QuickStart Module 3 & 4
Madison
Madison
Madison
CRS206-Technologies to
WI Dells
Advance your Business
2-day SRES
Madison
2-day ABR
Madison
1-day elective-Innovative
Madison
Marketing Techniques for Buyer’s Representative
August 9-10, 2007
August 15-16, 2007
August 17, 2007
Location
$
Early Reg.
$
Regular Reg.
$
ATD
240 (1)
240 (1)
240 (1)
285***
240(1)
240(1)
240(1)
295***
270
270
270
315***
375
260
130
385
270
140
405
290
160
144
154
184
Appraisal CE
Appraisal continuing education modules available on VHS and DVD
September 25, 2007
USPAP
Real Estate Continuing Education
WI Dells
Date
Course
Location
Time
May 10, 2007
May 10, 2007
May 16, 2007
May 23, 2007
May 24, 2007
May 24, 2007
June 28, 2007
2007-08 CE 3 & 4A
2007-08 CE 3 & 4A
2007-08 CE 1 & 2
2007-08 CE 3 & 4A
2007-08 CE 3
2007-08 CE4A
2007-08 CE 2
Friendship
La Crosse
Cedarburg
Cedarburg
Racine
Janesville
Racine
8:30 – 4:30
8:30 – 3:45
8:30 – 4:30
8:30 – 4:30
1:00 – 4:30
8:30 – 12:00
1:00 – 4:30
Register #
920-787-4611, ext. 150
608-785-7744
262-375-4730/262-338-8114
262-375-4730/262-338-8114
262-554-3940
608-755-4854
262-554-3940
Pre-license
*Plus books
18
May 7-10; 14-17, 2007
Sales Pre-license
Madison
8:00 – 5:00 p.m.
325*
325*
335*
June 4-7, 2007
Broker Pre-license
Madison
8:00 – 5:00 p.m.
255*
255*
265*
July 16-19, 23-26, 2007
Sales Pre-license
Madison
8:00 – 5:00 p.m.
325*
325*
335*
August 13-16; 20-23, 2007
Sales Pre-license
Milwaukee
8:00 – 5:00 p.m.
325*
325*
335*
September 10-13, 2007
Broker Pre-license
Milwaukee
8:00 – 5:00 p.m.
255*
255*
265*
*** Members of the Wisconsin CRS
www.wra.org/CourseSchedule
NEWS.WRA.ORG
Product Showcase
Electronic Signatures
New Version of ZipForm Automates Electronic Signatures & Exchange of Critical Documents
A
s consumers become more tech savvy, naturally they expect
agents to keep pace. For these consumers, sharing documents via
mail or fax is antiquated. They expect documents to be e-mailed
to them for review and signatures.
Sending documents via traditional e-mail software or ZipForm’s e-mail feature
for review and signature is easy, as long as the proper disclosures are
included. Agents and brokers need to make federal e-commerce disclosures,
including procedures for consent to use electronic documents and signatures,
the process for withdrawal of such consent, system requirements and changes
in contact information, visit www.wra.org/ecommerce. This requirement
adds a layer of complexity to the process.
Another option, ZipForm’s electronic signatures, simplifies the process by
providing e-mail functionality and the required disclosures in one package.
The feature is available for a fee and works with both versions of ZipForm,
Online and Desktop.
How do ZipForm’s electronic signatures work?
This process is similar to sending paper copies, just much quicker. When a
document is ready for delivery, you simply select File > Electronic Signatures
to print to a “document envelope” that was automatically added to your list
of printers during account setup. A series of screens will prompt you for the
party’s e-mail address, level of security desired, any additional non-ZipForm
documents to upload and where to place “sign here” sticky tabs. When an
agent sends an envelope, the party receives an e-mail to authenticate, review
and sign the documents using a unique “Electronic Signature Stamp” created
by the software. Prior to being able to do so, however, the party must agree
to the use of electronic documents and signatures, as well as receive the
required disclosures of the federal e-commerce law.
What do customers need?
Customers need only an e-mail account and Web browser access.
What is the cost?
Several subscription plans are available for purchase. Plans start at $12.95
per month, which includes 60 signer pages and 120 CC pages. Signer
pages are documents you send to people for signature. For example, the
WB1 Residential Listing Contract, which is four pages, counts as four signer
pages. CC pages are copies sent to other people involved in the process.
Once a document is signed, the people copied in the process receive an
e-mail message with a link to the completed document.
How do I set up an account?
An “electronic signatures” icon
exists in both versions of ZipForm.
When selected, users create an account and then download a small
application to their system. Once an account is established, a printer named
“Send in Docusign Envelope” is added to your list of available printers. No
other software is needed.
Are there other benefits to ZipForm’s electronic signatures?
Yes. ZipForm’s electronic signature feature provides an electronic record of
a transaction thus eliminating the need to scan documents for storage. The
program also ensures accuracy in the signing process by eliminating missed
signatures. And finally, agents and other parties need no special software
or training.
For
more
information
on
including screen snapshots of
visit www.zipform.com/signit.
ZipForm’s
Electronic
sending and signing
Signatures,
documents,
19
Garmin’s pricey Nuvi 360
offers a wealth of features,
including a hands-free
speakerphone
for use with
Bluetooth
phones.
Technology
Corner
GPS Buying Guide
W
hen it comes to
finding your way
from point A to point B
(make that property A
to property B), nothing
beats a GPS navigation
system.
It’s a fairly no-frills GPS, but it provides
all the essentials. Maps for all of North
America come preloaded on a memory
card, so the Voya’s ready to roll right out
of the box. You don’t get much in the way
of documentation, but using the Voya isn’t
difficult.
These devices provide
real-time driving directions, showing your
position on a moving map and prompting
you when it’s time to turn.
The Garmin Nuvi 360 (www.garmin.com)
is at the opposite end of the pricing scale:
$749.99 list. You can save hundreds by
shopping online (many vendors sell it for
under $500), but it’s still the most expensive
model in the group.
BY RICK BROIDA
I recently had the chance to review four
different models, with prices ranging from
$300 to $750. Here’s the good news: You
don’t need to spend a fortune to get a wellrounded, reliable navigation system.
What’s more, all of these models are
designed to be portable, meaning you can
easily move them from one car to another.
To me that’s a smarter move than spending
$2,000 on a built-in GPS that’s hardwired
into the dashboard.
They’re all compact enough to fit in a
pocket. And they’re all equipped with
touchscreens, meaning you no longer
have to fiddle with complex, button-driven
interfaces; entering an address is as simple
as tapping out letters and numbers on an
onscreen keyboard.
Another improvement: They all come
preloaded with map data, so they’re ready
to roll right out of the box. You don’t have to
go through the hassle of installing software
on your PC and copying maps to the GPS.
In my tests, most of the GPS units were able
to establish a satellite fix within a minute
of powering up (older models usually took
3-5 minutes), and all four maintained their
lock even after I’d pulled the car into the
garage.
So, let’s get to the receivers themselves. The
bargain to beat is the Averatec Voya 320
(www.averatec.com), which sells for $299.
20
A handful of advanced features help justify
the price. For instance, the Nuvi offers
text-to-speech, meaning it pronounces
street names. Even better, it doubles as a
Bluetooth speakerphone: Pair it with your
Bluetooth-equipped cell phone and you can
make and receive hands-free calls.
It’ll even absorb the address book from your
phone so you don’t have to manually enter
names and numbers. Love it.
No doubt about it, the Nuvi 360 is one of
the most full-featured GPS receivers on the
market, and also one of the easiest to use.
The same can’t be said of the $650 Mio
C710 (www.miogps.com). Although it
matches almost all the Nuvi’s features
(including the Bluetooth speakerphone), I
found the user interface awkward and the
navigation inconsistent.
Finally,
there’s
the
TomTom
One
(www.tomtom.com), which rivals the Nuvi
in simplicity but has a more limited feature
set. Its price was recently lowered to a very
compelling $299.
Although it does support Bluetooth
connections, for instance, it doesn’t have a
speakerphone function. Instead, it links to
your cell phone to fetch traffic updates.
You can also download new voices to take
the place of the standard female voice. How
cool would it be to have John Cleese or Mr.
T tell you when to turn? Well, you can.
My only real complaint with the TomTom
One is that nearly one-fourth of the
navigation screen is occupied by non-map
data, like arrival time and distance to next
turn. Other receivers show you more of the
map, which is important given the relatively
small screen.
One last piece of advice: Please don’t
interact with your GPS while driving. The
devices take your eyes off the road enough
as it is. Be safe and let a passenger fiddle
with the settings, or at least wait until you’re
at a stoplight.
Tech guru Rick Broida writes for CNET and PC Magazine. He is the
author of over a dozen books, including How to Do Everything
with Your Palm Powered Handheld, 6th Edition.
Its ace in the hole is an included FM
antenna that pulls in live traffic data and
automatically routes you around congested
areas. The Nuvi can do that, too, but you
have to buy a $160 accessory.
Even so, I can’t really recommend the
Mio. A GPS receiver is only as good as its
navigation capabilities, and this one comes
up short.
With a price of just $299, the Averatec Voya
320 offers affordable GPS navigation.
NEWS.WRA.ORG
tip
sales
WALLY’S WISDOM
IT’S THE BUYERS TURN!!!
MARCUS A. WALLY
Marcus A. Wally, MBA, GRI, CIPS,
AHWD, RSPS, TRC, is an active
Florida REALTOR® in St. Augustine,
Florida – “OUR NATION’S OLDEST
CITY.” Marcus is the founder and
broker of NEW WORLD REALTY,
which manages coaching and
facilitation of education classes
around the world. He has an MBA
from the University of North Florida
in Jacksonville. Marcus entered the
real estate profession in 1991. He is
a NAR faculty member for the Certified International Property Specialist
(CIPS) program, and is a member
of the AT HOME WITH DIVERSITY
faculty. Marcus can be reached
at 904-669-1081 or by e-mail at
mwally@cbwwcorp.com.
T
he life cycle of real estate is fascinating.
When times are good, they can be really
good and when times are tough they
can be really rough.
For most of the United States and Wisconsin,
we are in a different real estate market than we
were 3 to 5 years ago. Having gone through some
incredible times when sellers were commanding
“top dollar” for their properties and inventory
was tight, we now find the tables turned and just
the opposite.
Today, buyers are calling the shots. In such a
market, it is increasingly important to consider
an ABR (Accredited Buyers Representative)
designation, which hones our skills to truly
represent the buyer in every capacity of
the transaction. More importantly it helps
us understand the true meaning of “buyer
representation” and helps make sure we are not
violating any fiduciary duties. Also, competition
is fierce and being able to differentiate ourselves
from the pack is key in today’s market.
Preparing for an ABR designation puts you in
workshops covering such topics as: Agency
Relationships in a real estate transaction,
Relationships between Real Estate Brokerage
companies and consumers, Standard of Care
and Risk Management, How to work with
Buyers, Care and Due diligence to Protect the
Buyer-client, Recognizing Conflicts of Interest,
Developing a presentation strategy, Negotiating
for your Buyer client and a host of other topics.
Most importantly, I learned how to get the buyer
broker agreement signed!!!
Once you become designated as an ABR, a
number of benefits and perks come your way.
First, the monthly magazine titled “THE
BUYERS REPRESENATIVE” is mailed to you
from REBAC. Additionally, a small handy
pamphlet is also included in your annual dues.
This publication is always packed with value.
There is a specific logo to identify yourself as an
ABR and it is wise to use it in all your marketing
efforts.
So make the commitment to join the team of
buyer’s agents who specifically know the wants
and needs of our buyer clients and follow our
responsibilities to the letter of the law. Now is the
time to be in this position as buyers are setting the
market and a good buyer’s rep is hard to find!!
Second, I can not stress enough the importance
of having scripts in your head. We must be
positive that buyers will see our value and will
be willing to pay for it. We must also separate the
“customer” from the “client”. As the old saying
goes, “Why pay for the cow if you can get the mile for
free?” We as a professional organization of 1.3
million must STOP giving away our services for
free!!
We all want our buyers qualified, serious and
loyal!!! And in return, we should spend our time
with the buyers who are willing to make a written
commitment. I work by written authorization
only!!
Today, it is so important that we work off our
professional calendar and keep our selves booked
with appointments. Appointments put us faceto-face with buyers. In turn, that leads to sales,
and sales lead to commissions.
Sales Tip ... continued on page 22
21
Having now earned
the ABR designation a
number of benefits have
come my way
Sales Tip ... continued from page 21
As a buyer’s agent, each time I interview
a new buyer to see if I wish to make them
a client, I offer the following when asked
about my services:
1. I will follow your lawful instructions
pertinent to the transaction.
2. What ever you tell me, I will keep
confidential.
3. I’m going to watch out for your interests
above mine.
4. I will give you advice and guidance.
5. According to law, what I know, you’ll
know.
6. I’m an excellent secret keeper.
7. I’m accountable to you by law for
all funds…...in addition to the other
minimum standards of care for my
state…..IF YOU READ MY RESUME,
YOU’LL GET A LOT MORE!!
Having now earned the ABR designation
a number of benefits have come my
way. In addition to the consumer and
industry respect for and recognition of
the ABR designation, I am constantly
provided with tools to help me promote
my business to consumers and other real
estate professionals. As an ABR you will
also be listed in REBAC’s on-line directory
at www.rebac.net.
Explore www.wra.org to find an offering
near you and get yourself in the drivers’
seat to making your self a valuable asset
to the buyers that control our market
today!! And remember, “I’m not in Sales,
I’m in Service when I represent you!!”
Wisconsin Veterans Home Loans Available
� Low 6%, 30-year fixed rate loans
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For current rates and a list of
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Wisconsin Department of Veterans Affairs
22
NEWS.WRA.ORG
Legislature to Consider the “Pier Protection Bill” …
Again
T
BY TOM LARSON
AND THE GOVERNOR
he Wisconsin Legislature is once again
looking to permanently protect most existing
piers from new pier size standards. This has
been a very controversial issue over the last several
years in light of proposed DNR regulations that
would have made thousands of existing piers illegal.
While key stakeholders were close to reaching a
compromise during the last legislative session,
we are hopeful that both houses in the Legislature
will agree to compromise legislation (“The Pier
Protection Bill”) intended to protect both the rights
of waterfront property owners and the public use of
our waterways.
Background
In 2004, new pier standards were inserted in the
Wisconsin Statutes as part of the “Job Creation Act.”
These standards required a permit for any pier that:
(a)
Extends beyond a 3-foot water depth or deep
enough to moor a boat;
(b)
Is wider than 6 feet, or;
(c)
Has no more than two boat slips for the first 50 feet
of shoreline frontage, and one boat slip for each
additional 50 feet of shoreline frontage.
However, the language was silent as to whether the
standards were to be applied to new piers only or
whether they were to apply retroactively to existing
piers as well. Legislative authors of the “Job Creation
Act” maintain that the standards were to apply to new
piers only, while others claim that they were to apply
to both new and existing piers. If applied retroactively,
tens of thousands of existing piers would be illegal
and owners would be required to bring them into
compliance or obtain a special permit from the DNR.
Over the last several years, the DNR has made several
attempts to address this issue through administrative
rules. However, each draft of the rule continued to
make thousands of piers illegal, resulting in strong
public backlash and opposition to the proposed rule.
Last session, a compromise was reached … almost.
Representative Scott Gunderson and Senator Neal
Kedzie negotiated a compromise that was supported by
Governor Doyle, the DNR, the Wisconsin REALTORS®
Association, the Wisconsin Builders Association, and
environmental groups. The Senate version of the bill
Pier Protection Bill ... contined on page 28
23
Supreme Court Races
Will
Never
W
BY JOE MURRAY
ashington County Circuit
Court Judge Annette Ziegler
defeated Madison attorney
Linda Clifford for a seat on the state
Supreme Court 58 percent to 42 percent
on April 3, in a race defined by personal
charges and record spending on both
sides.
And much to the dismay of campaign
finance reformers and the media, it’s unlikely Wisconsin
Supreme Court races will ever return to the genteel affairs they
used to be.
According to the Wisconsin Democracy Campaign, which
tracks election spending in Wisconsin political campaigns,
total spending by the candidates and third-party groups could
end up in the $5 to $6 million range when all the numbers are
compiled. The most expensive state Supreme Court race prior
to this year’s contest was the 1999 battle between Chief Justice
Shirley Abrahamson and Green Bay attorney Sharren Rose,
with combined spending at $1.4 million. The Ziegler-Clifford
race is four times that figure.
Be
the Same
elected to the state Supreme Court, may very well have found
herself deciding liability cases of profound importance to the
trial bar and her husband.
The media was harshly critical of Annette Ziegler’s failure to
excuse herself from cases before the court where she may have
had personal conflicts of interest involving herself and her
husband. But the same media were very slow, and in many
cases simply not interested, in covering the potential conflict of
interest on Clifford’s part had she been elected to the Supreme
Court. Both campaigns took the ethics issue
and used it extensively in their advertising,
so it quickly became the focal point of the
spring campaign.
Intensity
The 2007 race between Ziegler and Clifford was a heated
race, primarily because the ideological balance of the
seven-member court was at stake. With conservative
Justice John Wilcox retiring, the court was evenly divided
between the left (Shirley Abrahamson, Ann Walsh
Bradley and Louis Butler) and the right (Dave Prosser,
Pat Crooks and Pat Roggensack). Ziegler’s election
victory maintains a slightly right-of-center court in
Wisconsin.
The conflict of interest issue was another charge that drove
the intensity of this year’s race. Ziegler’s husband sits on the
board of directors for West Bend Savings, and Ziegler, as a
circuit court judge, was called upon to rule on small claims cases
involving the bank. Clifford is married to the past president of
the Wisconsin Academy of Trial Lawyers and, had she been
24
NEWS.WRA.ORG
While many in the media and those who are pushing for campaign
finance reforms imply that independent spending by the business
community won the seat for Judge Ziegler, they fail to focus on
one major reason Clifford lost. Perhaps the biggest reason the
Clifford campaign failed is that it was almost completely void
of any campaign message beyond criticizing Ziegler’s ethics.
Successful campaigns, for any race, must
contain a message beyond criticizing your
opponent. Clifford had none and she lost by
a substantial margin as a result.
In the end, voters decided to elect Ziegler
given her background and experience on the
Washington County Circuit Court.
Campaign Finance Reform?
After every election cycle, reformers point
to the escalating costs of political campaigns
and continue to beat the drum for taking
“money out of politics.”
to provide 100 percent public financing for state-level campaigns,
including the Wisconsin Supreme Court.
Is this a good idea? The answer depends on your point of view,
of course. But detailed survey data (and WRA member focus
groups) indicate that the public is not supportive of taxpayerfinanced campaigns. Opponents of this idea point to the declining
participation in the number of taxpayers who
contribute to the Presidential Election Campaign
Fund at the federal level and the state election
fund in Wisconsin. Participation in both funds has
declined steadily for the last 15 years.
The conflict of
interest issue was
another charge
that drove the
intensity of this
year’s race.
This year’s Supreme Court race did in fact break all the old records.
The 1999 Supreme Court race spending totaled $1.4 million; this
year’s contest will fall into the $5 to $6 million range. Third party
spending had never been a big factor in Wisconsin Supreme
Court races prior to this spring, now it is. Third parties spent an
estimated $3 million on the 2007 Ziegler-Clifford race.
What is the goal of reformers? Taxpayer-funded campaigns. The
latest proposal calls for a $12 million a year “Clean Elections” fund
For over-exposed campaign finance reformers
like Mike McCabe of the Wisconsin Democracy
Campaign, the 2007 state Supreme Court race was
a “cash-soaked, special-interest-contaminated
smear fest.” For others it was a hard fought contest
that decided, for now, the ideological balance of
the court.
Negative campaigns have been around as long as the history of
the republic and they aren’t likely to go away any time soon. No
doubt, this isn’t what voters want to hear. But voters should be
very careful to buy into the argument that reformers make to use
taxpayers’ money to fund political campaigns. After all, democracy
isn’t always cheap or pretty.
Joe Murray is Director of Political and Governmental Affairs for the
WRA.
25
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Pier Protection Bill... continued from page 23
Without this legislation,
waterfront property
owners will continue to
be uncertain whether
their existing piers
are illegal and may
be subject to DNR
enforcement actions.
(Assembly Bill 850) passed the Senate with strong bipartisan
support (30 to 3 vote). The bill was then modified slightly by
the Assembly and the compromise was gone. Governor Doyle
eventually vetoed the bill.
Because no compromise has been reached over the last three years,
many waterfront property owners are uncertain whether their
current pier is legal or not.
The Pier Protection Bill
The Pier Protection Bill (LRB 3718/2) is a reintroduction of
legislation passed by the state Senate last session, which was
supported by all key stakeholders. The bill protects the rights
of property owners, while preserving the public’s use of our
waterways. Although the bill does not grandfather all existing
piers, it does create a fair process for property owners with piers
larger than the grandfathering standards to keep their pier by
obtaining a permit. Here are some of the key provisions relating to
the grandfathering of existing piers:
Grandfathering standards – Grandfathers all piers less than
8-feet wide, with a deck that is no larger than 300 square feet and
no wider than 10 feet. If the deck is 200 square feet or less, there
is no width limitation.
Existing piers that exceed grandfathering standards
– Non-grandfathered piers would require an individual permit,
but the DNR can deny the permit only if it can prove the pier
interferes with public rights in the waterway or the rights of
neighboring property owners. This is a reasonable alternative
28
to grandfathering all existing piers, as it recognizes that existing
piers (some of which have been placed in the water for decades)
should be given the benefit of the doubt and presumed to be
legal unless the DNR can prove otherwise. This is one of the most
important provisions in the bill because it ensures that property
owners will be in no worse position than they are today.
Repair, maintenance and replacement – Owners of
grandfathered piers may repair, maintain or replace an existing
pier, but cannot enlarge it. The owner may also relocate or
reconfigure the pier if the DNR does not object to the relocation
or reconfiguration.
Registration requirements – To be eligible for grandfathering,
existing piers must be registered with the DNR within 36 months
after the legislation goes into effect.
Fees – No fee will be charged for any permit necessary for
existing piers.
Without this legislation, waterfront property owners will continue
to be uncertain whether their existing piers are illegal and may be
subject to DNR enforcement actions. It is time to bring closure to
this issue. Please contact your legislators (1-800-362-9470) and ask
them to support the Pier Protection Bill.
If you have questions, please feel free to contact Tom Larson
(tlarson@wra.org) (608) 240-8254.
Tom Larson is Director of Regulatory and Legislative Affairs for the WRA.
NEWS.WRA.ORG
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What Your Buyers and Sellers are Really Saying

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