Read RO0507.pdf text version

MAY 2007

IMPORTANT INFORMATION...

PLEASE NOTE THE NEW PHONE AND FAX NUMBER FOR LIBOR'S LEGAL HELPLINE:

Phone (631) 236-4105 Fax (631) 236-4110

PRESORTED STANDARD U.S. POSTAGE PAID LIC NY 11101 PERMIT NO. 808

CIRCULATION 26,000

The Voice for Real EstateTM

OFFICIAL PUBLICATION OF THE LONG ISLAND BOARD OF REALTORS , INC.

www.mlsli.comTM

Commission Escrow Act Update

New Bill Has Been Introduced in Both Houses!

By Randy L. Kaplan Director of Government Affairs The new Commission Escrow Act has been introduced in the Senate and the Assembly. The Senate version (S.4874 Dale Volker -- Depew) and the Assembly version (A.7519 - Mike Gianaris -- Astoria) have been reintroduced by the original legislative sponsors. The bill is currently being reviewed by the Judiciary Committees in both houses. NYSAR has reported that they will be setting up meetings with the Department of State, the Consumer Protection Board and Governor Spitzer's staff shortly. NYSAR has recently completed the lost commission survey and has compiled all the data into a comprehensive report. The findings show that just over one-fourth (28%) of the real estate agents statewide said they lost earned commissions in the last 24 months. The bill which requires disputed real estate commissions be placed in an escrow account with the county clerk until a resolution is reached, overwhelmingly passed the Assembly and the Senate in 2006. Unfortunately, the bill was ultimately vetoed by Governor Pataki. Assemblyman Gianaris has already spoken with the Assembly Judiciary Chair Helene Weinstein, and she still remains opposed to our bill as she did in 2006. Opponents to the Commission Escrow Act have stated that the extent of the lost commission issue has not been well proven. To address this erroneous concern, LIBOR is once again soliciting lost and/or reduced commission surveys. This survey is posted on our website and will be distributed at all LIBOR/MLS meetings. In addition, a new field asking if you were "forced at closing to accept a lower or no commission" will appear when a listing is put into a closed status on MLS. If you answer yes to this question -- an additional field will be

prompted. These new fields will only be viewable to MLS staff for tabulating purposes. We will once again seek co-sponsorship from the majority members in both houses of our state government. In addition, LIBOR will be asking the Nassau and Suffolk County Legislatures as well as the New York City Council to send a "memorializing resolution," which conveys their support, to the

Albany lawmakers. It is more important than ever to contribute to RPAC! Remember there are many adversaries out there who would like to see our bill fail once again. Please contribute to RPAC each and every calendar year. It is the best way to protect your business and ensure that our fight for a much needed Commission Escrow Act can and will succeed!

MLSLI.com Is Now Multilingual

By Tricia Chirco Marketing & Communication Director The Internet is becoming more diverse with more Internet users from countries where English is not the primary language and as a result, multilingual websites are becoming more of a necessity for many organizations. Responding to this need, the Multiple Listing Service of Long Island, Inc. is pleased to announce that www.MLSLI.com is now available in 12 different languages. Visitors can now search for available properties in 11 languages in addition to English that include: Spanish, Portuguese, Italian, French, German, Chinese (traditional and simplified), Japanese, Vietnamese, Korean, Polish and Russian. The way the multilingual feature works is that visitors begin their property search on the Find A Home page of mlsli.com, which opens in English, and if they wish, they can select click on the appropriate country flag to display search results in that country's language. Flags are displayed on the bottom of the search page. Visitors should note that translations are

INSIDE...

New Feature Opens Communication With Non-English Speaking Customers

the greatest number of potential clients on the Internet. Rankings were determined by analyzing general statistics on languages in use on the Internet, and others were added as a result of the greatest demand across our market. The initial languages currently available on the website cover the most significant languages in use worldwide on the internet and by local populations of immigrants and international users. By offering the multilingual property search feature, new lines of communication will open with international customers. Putting a multilingual face on mlsli.com will be good for business for all Realtors® as it opens up opportunities to a wider audience of buyers and sellers. Don Scanlon, MLSLI President says, "Offering web content in several languages enables our members to better serve their customers and promotes our business more effectively and efficiently." Scanlon also notes that "This is an awesome opportunity for MLSLI.com to open the door to the international market as it breaks down the language barrier on information available to customers on the web."

See the Special Spring/Summer Education Course Catalog

The Long Island Board of REALTORS® Inc.

EDUCATION COURSE CATALOG Spring/Summer 2007

Plan Your Education... Plan Your Growth... Plan Your SUCCESS!

limited and are only on certain fields. For example, Style is converted, but property descriptive text is not -- nor are Town and School District names. Those text type fields will remain in English. The initial launch of this website enhancement has spurred inquiries from Realtors® with regard to the languages currently available. With several thousand languages and dialects in the world, ranking decisions on which languages were represented was determined by analyzing what the best value would be for members in terms of reaching

DESTINATION SUCCESS... FIRST STOP EDUCATION!!

Don't forget to register to attend the 19th Annual Education Conference Thursday, June 7, 2007 -- Crest Hollow Country Club, Woodbury $1000 Cash Giveaway at Luncheon ­ Designer Gifts and Prizes

OVER 6 NATIONAL TRAINERS ON INDUSTRY TOPICS AND 65 EXHIBITORS See Page 15 for details.

THE REALTOR®

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WHAT WILL INSPIRE YOU TO ACHIEVE GREATNESS?

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Town of Islip PROPOSES Legislation and Calls for a Public Hearing on Accessory Apartments and Rental Dwelling Units

By Meredith E. Dulberg Legislative Liaison The Town of Islip after meeting with the Offices of the Town Attorney and the Fire Marshal, the Department of Planning and Development, and Code Enforcement has decided to propose legislation that affects all real estate brokers doing business within the Town. Modifications to the Zoning Chapter of the Town Code will change requirements for rental occupancy permits as well as the real-estate brokers' responsibility prior to listing a dwelling where the permit would be required. LIBOR'S Government Affairs Department has been and continues to be in talks with the Town Council, Code Enforcement, Building Department, and Town Attorney's Office regarding the proposed legislation. At the Town Board Meeting on April 24th, LIBOR read a prepared statement aloud to the Town Board and Supervisor stating our position on illegal rentals. This was formally entered for the record. The proposed legislation would impact how a broker would handle rental listings.

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Town of Huntington Changes Its Code

By Meredith E. Dulberg Legislative Liaison In Huntington, an accessory apartment permit is now needed before one can use, establish, maintain, operate, occupy, rent, or lease any portion of any premises as an apartment for residential occupancy. After a public hearing on January 9th, The Town of Huntington amended its zoning and accessory apartments code. Changes to the code took effect as of March 15, 2007. It is now unlawful for a property owner or for the person in charge to lease or sublease an accessory apartment to a registered sex offender, or to allow a sex offender to use or occupy the accessory apartment as their residence. In addition, the property owner or the person in charge can not maintain an accessory apartment if a registered sex offender lives in the main dwelling of the single family home. In order for the permit to be issued by the hearing officer, the property owner or the person in charge must agree to the above conditions in a notarized statement. The Town of Huntington defines a registered sex offender as the following: "A sex offender who is required to register with the New York State Division of Criminal Justice Services, or other agency having jurisdiction, pursuant to the provisions of Article 6-C of the Correction Law of the State of New York, or other applicable or successor law, whether or not the sex offender has actually registered in compliance with the law or order of the court of competent jurisdiction." If the property owner or the person in charge violates the provisions that were required to receive the permit, a Notice of Violation will be issued. Within 45 days of receiving this all necessary actions must be taken to remove the sex offender from the premises. If the sex offender has not been removed after 45 days and/or a summary proceeding has not been commenced by the property owner, then the owner will now be in violation of this code. Penalties for conviction are: $2,500 for conviction of a first offense, for the second or subsequent offense the property owner or person in charge of the property shall be deemed to have committed a misdemeanor and upon conviction shall be fined $2,500 or jail up to 6 months, or both. If you are a REALTOR® doing business within the Town of Huntington please make note of the new changes to the code. A rental permit must be issued before you take a listing and there must be no registered sex offenders living in the premises or in the intended accessory apartment.

Every homeowner within the Town would have to apply for a rental occupancy permit in order to maintain, lease, or rent the dwelling unit. It would then be the brokers' or agents' responsibility prior to listing, showing, offering for lease, rent or sale on behalf of the owner to verify the existence of a valid rental occupancy permit has been issued, and is also in compliance with all provisions of the Code of the Town of Islip. Code Enforcement will make certain presumptions that a single or one-family dwelling unit is occupied by more than one family if it contains more than one kitchen or if two or more of the following features are found to exist: · More than one mailbox, mail slot or post office address; · More than one doorbell or doorway on the same side of the dwelling unit; · More than one gas meter; · More than one electric meter; · More than one connecting line for cable television service; · More than one antenna, dish antenna or related receiving equipment; · Separate entrances for segregated parts of the dwelling unit, including but not limited to bedrooms; · Partitions or internal doors with locks which may serve to bar access between segregated portions of the dwelling unit, including but not limited to bedrooms; · Separate written or oral leases or rental arrangements, payments or agreements for portions of the dwelling unit among its owner(s) and occupants; · The inability of any occupant to have lawful access to all parts of the dwelling unit; or · A separate entrance leading directly to a separated living space containing a bathroom. The Town will implement penalties for violating any provision of the Code or if someone assists in the violation of the Code. For conviction of a first offense fines range from $500-$2,000 or imprisonment not to exceed 15 days, or both. For conviction of the second of two offenses fines range from $1,500-$3,000 or imprisonment not to exceed 15 days, or both. For conviction of the third or subsequent offenses fines range from $3,500-$5,000 or imprisonment not to exceed 15 days, or both. At the Town Board Meeting on April 24, 2007 a resolution was unanimously passed to move this legislation to a public hearing. This hearing will take place on May 22, 2007 at 2:30pm at Connetquot State Park. Please direct all questions and concerns on this issue to Meredith Dulberg at ext.306. Should you wish to view a copy of the proposed legislation, please go to: www.mlsli.com/pdfs/office_of_deputy.pdf state markets. Combs says, "We believe the lack of uniformity and the complexity in state mandates have increased costs and contributed to the withdrawal of insurers from states where they once operated. Non-employer groups need to be allowed to develop affordable and uniform national insurance programs tailored to the specific needs of their small business and self-employed." NAR suggested removing barriers to allow community and nonprofit organizations, which have traditionally not been involved in facilitating access to health care, to facilitate access to health care for the nation's small businesses and the selfemployed. Among such organizations are professional or trade associations. NAR has pledged to continue to work with Congress on this issue.

Adapted from realtor.org

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THE REALTOR®

IN THE NEWS

NEW CEA BILL INTRODUCED TO SENATE & ASSEMBLY

A new version of the Commission Escrow Act has been reintroduced by the original Legislative sponsors. . . . . . . . . P1

MLSLI.COM NOW MULTILINGUAL

The best source for real estate information just got better. Visitors to mlsli.com can now find a home in more than one language . . . . . P1

LIBOR NEWS

PROPOSED LEGISLATION AND CODE CHANGES

Read proposed changes in the Town of Islip and the Town of Huntington that can affect the way real estate Brokers do business . . . . . . . . . P3

PUBLIC RELATIONS CAMPAIGN

To insure a successful 2007 campaign, Linda Bonarelli asks Realtors® to spread the word that we are more than Realtors® . . . . . . . . . . . . . P4

SPECIAL FEATURES

SPRING/SUMMER LIBOR COURSE CATALOG

Check out the special 8-page Education Course Catalog inside this issue.

The Long Island Board of REALTORS® Inc.

EDUCATION COURSE CATALOG Spring/Summer 2007

Plan Your Education... Plan Your Growth... Plan Your SUCCESS!

MLS NEWS

MLS BILLING HAS GONE PAPERLESS!

Enroll today and help save a tree. . . . . . . . . . . . . . . . . . . P19

NAR Urges Congress To Allow Non-Employer Groups to Offer Health Insurance

Small firms and the self-employed are widely recognized as the largest source of new American jobs and much of the technological innovation from which America's economy has benefited. Without change, problems about availability and affordability of health coverage will increasingly threaten what has been a major source of job growth and innovation in this nation, according to NAR. NAR President Pat Vredevoogd Combs said, "28 percent of the nation's 1.3 million Realtors® have no health insurance and by far the predominant reason given is cost. The percentage of uninsured Realtors® is almost double that of America as a whole. This is a serious problem for us." NAR encouraged Congress to examine whether the nation's system of state-based coverage for individuals has outlived its ability to effectively pool risk on the scale that is necessary to offer an affordable product to the self-employed and small business community. NAR believes there are ways of expanding the pool without creating unintended consequences and ways to bring more and better competition to the

President's Message . . . . . . . . P4 From Where I Sit . . . . . . . . . . . P6 WCR . . . . . . . . . . . . . . . . . . . . P8 LIBOR News . . . . . . . . . P10-18 News . . . . . . . . . . . . . . . . . . P19 MLS News . . . . . . . . . . . . . . P20 Technology . . . . . . . . . . . . . . P21 This & That . . . . . . . . . . . . . . P22 RPAC Update . . . . . . . . . . . . P23 Legal Information . . . . . . . . . P24 Ethics . . . . . . . . . . . . . . . . . . P25 Services Directory . . . . . . . . P26

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May 2007

Official Publication Of The LONG ISLAND BOARD OF REALTORS®, INC.

PRESIDENT'S MESSAGE

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By Linda Bonarelli, LIBOR President

THE REALTOR®

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LONG ISLAND BOARD OF REALTORS®, INC. 2007 OFFICERS

PRESIDENT

Linda Bonarelli Mohsen Zandieh Daniel Ryan Liz English

The Long Island Board of REALTORS® is a non-profit organization formed for REALTORS® for the betterment of their communities, their profession, and their livelihood. The REALTOR® is published by the Long Island Board of REALTORS®, located at 300 Sunrise Highway, West Babylon, NY 11704, and is published monthly, except for combined issues in January/February and July/August. Application to mail at periodicals postage rate is pending at Babylon, New York. POSTMASTER: Please send address changes to: The REALTOR® 300 Sunrise Highway West Babylon, NY 11704 The REALTOR® and its publisher, The Long Island Board of REALTORS®, in accepting advertisement in this publication, make no independent investigation concerning the services or products advertised, and they neither endorse nor recommend the same nor do they assume any liability thereof. REALTOR® is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict code of ethics. LONG ISLAND BOARD OF REALTORS®, INC. 300 Sunrise Highway West Babylon, NY 11704 (631) 661-4800 · (718) 739-8700 Website: www.mlsli.comTM Email: [email protected]

PRESIDENT-ELECT

VICE PRESIDENT-NASSAU VICE PRESIDENT-SUFFOLK

VICE PRESIDENT-QUEENS Walauddin Hoosein TREASURER SECRETARY

Michael Mendicino Kathy Engel Joseph E. Mottola

CHIEF EXECUTIVE OFFICER

PUBLISHER EDITOR

Joseph E. Mottola Christina DeFalco

Patricia Chirco

EDITOR'S ASSISTANT

PRODUCTION, PRINTING & ADVERTISING

DSI Design Group 252 Sea Cliff Avenue, Sea Cliff, NY 11579 516-676-6089 · Fax 516-676-4769 Christopher Meadows, President

ADVERTISING SALES

Christopher Meadows · 516-676-6089

CONTRIBUTORS

Linda Bonarelli, President, LIBOR Howard Goldson, Esq., Goldson, Nolan, Connolly, Nasis & Dornfeld, P.C. Donald Scanlon, President, MLS Randy L. Kaplan, Director Government Affairs Audrey Livingstone, WCR President Frank Dell'Accio, Chairperson, Professional Standards Committee

INSURANCEPlus

H

E A LT H

I

N S U R A N C E

for Small Businesses & the Self-Employed

Last year our Public Relations Committee launched the "We're More Than Realtors®..." (WMTR) campaign. The success of this campaign encouraged us to expand into more areas for 2007. The purpose of this campaign is to promote to the consumer our Realtors® involvement in Charitable & Community Service, and Legislative & Political Advocacy that are PRO-homeownership. We have committed funds to promote this campaign across all three counties, and we have engaged a professional public relations company to work closely with our Public Relations Committee, our 10 Chapters, and 3 Divisions, but we still need to count on executing a successful "word of mouth" campaign that every member can participate in. If every member tells their families, neighbors, colleagues and clients about the WMTR campaign, it would help insure a greater level of success for 2007. Need more information on what the campaign is all about? No problem. Visit the Realtors Only section on mlsli.com and click on the WMTR Campaign button located on the home page. That will take you to a web page that is loaded with campaign information and materials including: a slide show presentation of past and present Realtor® outreach efforts that are set to music, an application for the Realtor Spirit Award, a recap of last year's Spirit award winners, links to forms including a generic Realtor Volunteer Form necessary to participate in Habitat Builds and Rebuilding Together projects, a downloadable file of the new "We're More Than Realtors" poster, and much more. In addition to what the committee already has in progress, here is a look at what's ahead: 1. Realtor Spirit Award -- Three individuals (one from each county) will be

honored for their community service. Honorees will receive a $1000 check made payable to the charity of his/her choice. 2. College Scholarships -- Three students attending our local colleges including: Queens College, Dowling College and Hofstra University will receive a LIBOR Sponsored Scholarship in the amount of $1,000 each. 3. LIBOR Education Conference & Trade Show -- every attendee at the Grand Assembly will receive a complimentary "We're More than Realtors" T-shirt. 4. "We're More than Realtors" posters -- created and currently being mailed to all Realtor® offices to help you in promoting yourselves in your local communities. 5. Consumer Brochure -- A pamphlet is being created that will be made available to all Realtors® to distribute to consumers on the highlights of the WMTR campaign. The brochure will include aspects of the WMTR campaign complete with photos and testimonies on how Realtors® -- are more than Realtors® in so many ways. We are also continuing our efforts with Habitat for Humanity, Rebuilding Together of Long Island, and the Long Island and City Housing Partnership Organizations. We all do so much more for our communities besides listing and selling real estate, and we want the consumers to know all the good things we do for charity. We want our customers to know how we fight to protect homeowner's rights. I encourage all of you to let us know what you are doing in your communities throughout the year. We would be happy to publish your accomplishments in the Realtor Paper. You can e-mail your community efforts to [email protected]

SENTRILOCK TIPS

When an agent calls on a property with a lockbox, remind them to update their SentriCard before going to the property. This will insure they are able to access the home without a problem and will also get Rose Gagliardi is an insurance broker with over 20 years experience, servicing the tri-state area. Rose specializes in Health, Dental, Life, Long Term Care, Medicare Supplements & Disability Insurance. Rose and her staff are committed to providing the utmost personal attention and maximum client servicing. them in the habit of updating their card on a regular basis. That same reminder should also be noted in the remarks field on the listing as well.

New Member Cocktail Party

REAL ESTATE BOARD OF NEW YORK

for over 15 years

Endorsed by the

RO S E G AG L I A R D I

Broker

55 East Main Street · Oyster Bay, NY 11771 516.922.1200 · 212.268.4473 · Fax 516.922.2829 [email protected] · www.insuranceplusny.com

New Member "Socials", sponsored by each Chapter twice a year, gives new Realtors® a one-on-one opportunity to meet their Chapter Directors and learn all about their Chapters' and LIBOR's educational and charitible events. It is hoped they will become active participants in their Chapters and LIBOR, as well. At this cocktail party, "newbies" volunteered to help with Suffolk North Shore Chapter's Annual Golf Outing and to serve on LIBOR's Public Relations Committee.

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THE REALTOR®

May 2007

LIBOR NEWS

FROM WHERE I SIT

By Joseph E. Mottola, Chief Executive Officer

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THE LONG ISLAND BOARD OF REALTORS , INC.

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THE REALTOR®

EXECUTIVE PLANNER

MAY 2007

5/15 -- Tuesday NASSAU NORTH SHORE CHAPTER

Enjoy Networking, Cocktails, Dinner & Comedy! Family & Friends Welcome! Long Island's Premiere Comedy Club & Restaurant! Cost: $49.00* per person prepaid, $59.00 at the door. RSVP: Linda Rappaport @ 718-423-3130. Visit our website: www.libor.com/wcr.

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Both LIBOR and the MLS have inde- represent their chapter members on the pendently approved forming Task Forces Board wide Director body. County at to address issues that will ultimately per- large directors represent the entire countain to the Governance of the respective ty not the chapter to which they personalorganizations. The Task Forces have ly belong. Perhaps, there should be a requirement entirely different purposes but both could affect operations in the that Directors have experience serving on board or future. Next month I'll focus even MLS Committees. on the MLS Task Force. Service in local civic groups The LIBOR Task Force concerns itself with attempt- "Establish criteria might be considered in lieu ing to establish criteria to of Board/MLS committee to make one make one eligible to serve as eligible to serve." work. These are the things that the Task Force is going an At Large Director or an to have to consider Officer for LI. Currently, the Officers may have a requireonly requirement is that ment that they have experisomeone be a Realtor in good standing. Last year, the bylaws were ence as Directors to be eligible. Should changed to allow the Directors to establish someone nominated to serve as Treasurer appropriate criteria and this Task Force have some prior financial experience? will attempt to do that for the ultimate Should a nominee for President elect be required to have served as an officer on review and approval of the Directors. There are eight at large Directors for the Executive Committee in order to be each county. They are not to be confused eligible to ultimately assume the with directors who come from the Presidency? You can see that the Task Chapter which include the President plus Force could have quite a challenge comone other representative. These directors ing up with possible criteria.

8:30am ~ Education Seminar & Networking Breakfast. DeSeversky Culinary Arts Center, Northern Blvd., Greenvale. Guest speaker: Debra Asher, Real Estate Trainer & Coach; Founder-ProCalibre Associates, Inc. ~ "Price It Right With the Sellers' Blessings" ~ Cost: $20.00 prepaid, $25.00 at the door. RSVP: Julie Blaker @ 516922-2878 or 516-971-47474 (cell). Visit our website: www.libor.com/nassaunorthshore.

5/23 -- Wednesday LIBOR BOARD OF DIRECTORS

9:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom B. Staff liaison: Lisa Gonzalez @ LIBOR ext. 350.

5/24 -- Thursday LIBOR/MLS ORIENTATION

8:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom B. Staff liaison: Debbie Franco @ LIBOR ext. 364.

MAY 16-18 NAR CONVENTION/MEETINGS -- WASHINGTON, DC 5/17 - Thursday JAMAICA CENTRAL QUEENS CHAPTER

9:00am Education & Networking Seminar. Villa Russo Restaurant, 101-12 Lefferts Blvd., Richmond Hill. Guest speaker: Tom Carlo-TriBorough Land Services ~ "Home Equity Theft Prevention Act" ...How It Could Affect Your Real Estate Transactions/Closings. Cost: FREE (if pre-registered by 5/13; will be charged @ door). RSVP: Elizabeth Gittems @ 718454-9000 or Moses Seuram @ 917-8227942. Visit our website: www.libor.com/jamaicacentralqueens.

5/24 -- Thursday MLS EXECUTIVE COMMITTEE

9:00am -- REALTOR BUILDING, West Babylon -- 2nd floor Conference Room. Staff liaison: Lisa Gonzalez @ LIBOR ext. 350.

5/28 -- Monday MEMORIAL DAY OBSERVED - ALL BOARD OFFICES CLOSED

JUNE 2007

JUNE 7 -- Thursday LIBOR 19TH ANNUAL EDUCATION CONFERENCE & TRADE EXPO CREST HOLLOW COUNTRY CLUB, WOODBURY -- See page 15 for details. 6/12 -- Tuesday CREDIT UNION BOARD OF DIRECTORS

10:00am -- REALTOR SERVICE CENTER, West Babylon -- Upper Classroom. Staff liaison: Luisa Harman @ LIBOR ext. 371.

5/21 -- Monday LEGISLATIVE COMMITTEE

LIBOR MEMBER BENEFITS GUIDE Now Available on REALTORS ONLY at MLSLI.com

Access a copy online of the 20 page comprehensive benefits guide that provides LIBOR members with valuable information on all the money saving opportunities, discount programs and services available to Realtors. Membership has its privilege.

9:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom A. Staff liaison: Maryann Horan @ LIBOR ext. 354.

5/21 -- Monday COMMON INTEREST OWNERSHIP COMMITTEE

11:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom A. Staff liaison: Maryann Horan @ LIBOR ext. 354.

5/22 -- Tuesday BYLAWS COMMITTEE

9:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom A. Staff liaison: Angela Dell'Italia @ LIBOR ext. 382.

6/13 -- Wednesday MLS EXECUTIVE COMMITTEE

9:00am -- REALTOR BUILDING, West Babylon -- 2nd floor Conference Room. Staff liaison: Lisa Gonzalez @ LIBOR ext. 350.

Realtors Should Plan on Celebrating National Homeownership Month in June... Visit realtor.org for materials to help you promote efforts to expand homeownership and affordable housing opportunities.

5/22 -- Tuesday LONG ISLAND COMMERCIAL NETWORK

8:00am -- Networking Breakfast & Marketing Session. On Parade Diner, 7980 Jericho Tpke., Woodbury. $15.00 LICN Members, $25.00 Non-members. Bring plenty of business cards, your `haves & wants,' and your property data sheets! For more information, contact Harvey Kolin @ 631-422-5511 ext. 122. Visit: www.LICOMMERCIALNETWORK.org.

6/14 -- Thursday LIBOR EXECUTIVE COMMITTEE

9:00am -- REALTOR BUILDING, West Babylon -- 2nd floor Conference Room. Staff liaison: Lisa Gonzalez @ LIBOR ext. 350.

6/20 -- Wednesday MLS BOARD OF DIRECTORS

9:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom B. Staff liaison: Lisa Gonzalez @ LIBOR ext. 350.

5/22 -- Tuesday WOMEN'S COUNCIL OF REALTORS

6:00pm -- Please join us for a Night of Comedy! Governor's Comedy Club, 90 Division Avenue, Levittown. Doors open @ 6:00pm ~ Showtime 8:00pm. *WCR 2007 Annual Fundraiser Event - A portion of the proceeds will go to DRESS FOR SUCCESS-LI CHAPTER. Fabulous Door Prizes, Chinese Auction & Live Auction!

6/21 -- Thursday LIBOR/MLS ORIENTATION

8:30am -- REALTOR SERVICE CENTER, West Babylon -- Classroom B. Staff liaison: Debbie Franco @ LIBOR ext. 364.

6/29 -- Friday WESTERN QUEENS CHAPTER

9:00am Networking Breakfast Seminar. Details to follow... For more information, call Kenny Dunn @ 718-779-1111. Visit our website: www.libor.com/westernqueens.

MEETINGS & EVENTS: For more details & information, please call the LIBOR Staff Liaison listed above. For special events & chapter information, contact Connie Aiello at 631-661-4800, ext. 361. LIBOR MEMBERS ONLY MAY REGISTER & PREPAY ON-LINE for Chapter/Division Meetings & Events! Go to: www.mlsli.com/chapterreg/meetings.asp. VISA, MASTERCARD, AMEX & DISCOVER accepted. NOTE: On-line registration CLOSED at 4:30PM on the previous business day before this event.

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Are you looking for a match?

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THE REALTOR®

So are we. And we play well with others. Daniel Gale Sotheby's International Realty, you can play side by side with the finest business builders in the industry who will teach you the latest prospecting strategies and selling techniques. Come and meet your match. Explore your future. Bonnie Doran 888.931.9500 [email protected] www.DanielGale.com

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May 2007

Put #1 To Work For You

. . JOIN CENTURY 21

LIBOR NEWS

Long Island Chapter WCR-NewYorkState.com

THE REALTOR®

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By Audrey Livingstone, WCR President

Thanks to all that showed up to our recent meeting at Sterling Glen of Great Neck on April 20th featuring guest speaker, Dr. Ray Omid. The program was enlightening and I hope a lot of us are reaping the benefit of his healing powers. It was a success and despite the heavy downpour that day, the response was overwhelmingly positive. Our next meeting is another don't miss occasion, our WCR Annual Fundraiser event is being held on Tuesday, May 22nd at Governor's Comedy Club. It will be a fun-filled evening of networking, drinks, dinner and comedy with fabulous door prizes, Chinese auction and Live Auction at one of Long Island's Premier Comedy Club and Restaurant! A portion of the proceeds will go to DRESS FOR SUCCESS-LI CHAPTER, a non-profit organization that provides business attire and job preparedness to low income women. If you are interested in attending please contact Linda Rappaport at 718423-3130, family and friends are welcome, a great time will be had by all! I will be attending the Mid Year WCR conferences in Washington, DC this month and look forward to sharing with you some new ideas and directions in my next column. Spring is here and the market is in full swing! Remember to use your WCR referral directory when making buyer and seller referrals across the nation. One of our members just referred a homeowner to a WCR member in Homestead, Florida who successfully listed the home for $2.5 million! WOW now isn't that fantastic? I have been getting a lot of phone calls from LIBOR members wanting to become a new WCR member. This is wonderful, keep the calls coming or for faster access visit www.libor.com/wcr click on membership and fill out the form. Looking forward to seeing you all soon.

®

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2007 OFFICERS

President Audrey Livingstone........516-564-4480 President-Elect Valerie Van Cleef............516-922-8500 Treasurer Charlotte Vanderwaag ..516-248-9494 Secretary Whitney LaCosta ..........631-757-7272 VP-Membership Membership Heather Walther ............516-795-7000

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Dr. Ray Omid, D.C., founder of Advanced Holistic Healthcare in Garden City was the guest speaker at the Women's Council of REALTORS networking breakfast seminar held on April 27th at the Sterling Glen of Great Neck. Dr. Ray spoke on enhancing your wellness, reducing your stress and achieving your health goal. Pictured with Dr. Ray (center) are (l-r) LIBOR President Linda Bonarelli, WCR Secretary Whitney LaCosta, WCR President Audrey Livingstone, WCR President Elect Valerie Van Cleef and WCR Treasurer Charlotte Vanderwaag.

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It's your career.

Shouldn't you align yourself with the #1 System* on Long Island?

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THE REALTOR®

CENTURY 21 ... the Gold Standard in Real Estate

Why settle for anything less?

1-888-21CAREERS

www.century21careers.com

Century 21® Real Estate LLC | 42 Countries, 7,800 offices, 143,000 agents of change.

© 2007 Century 21 Real Estate LLC. CENTURY 21® is a trademark licensed to Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Office Is Independently Owned And Operated.

*From information on file with the Multiple Listing Service of Long Island Inc., reflecting transactions closed 1/1/06-12/31/06.

May 2007

LIBOR NEWS

10

THE LONG ISLAND BOARD OF REALTORS , INC.

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THE REALTOR®

Frank Orlandino's Family Donate to the Frank Orlandino Scholarship Fund

Nassau County Executive Thomas Suozzi Speaks at the Nassau South Shore & Central Nassau Joint Chapter Breakfast

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The family of Frank Orlandino, a beloved Realtor® who died tragically on New Year's Eve 1993, donated $4,500 to the Frank Orlandino Scholarship Fund which was created by the Jamaica Central Queens Chapter in honor of Frank's commitment and loyalty to the Realtor® community. Rosemary Orlandino, Frank's wife (2nd from right), made the presentation with her father fellow Realtor® Tom Tabone (right) and her children Tommy and Sandy (not pictured), they also have a son Nick who was not present. Rosemary wrote a touching letter of thanks in response to the meeting saying "It is always heartfelt to hear how friends remember Frank...what he stood for, his love and passion for the Board and all things Realtor®." Pictured with Rosemary are (l-r) Moses Seuram, JCQ Chapter President and JCQ Director Deonarine Basdeo.

On April 17, 2007 Nassau County Executive Thomas Suozzi (D) addressed the two Chapters concerning property taxes, the real estate market, and where Nassau County is headed in the future. Pictured, (front row, l-r) Susan Helsinger, President of Nassau South Shore Chapter; Donna DeVito, President of Central Nassau Chapter; (back row, l-r) Kathy Engel, LIBOR Secretary; Don Scanlon, MLS President; Mohsen Zandieh, LIBOR President-Elect; Thomas Suozzi, Nassau County Executive; Daniel Ryan, Sr., Nassau County Vice-President; Michael Mendicino, LIBOR Treasurer.

Rick O'Neil Speaks to the Suffolk South Shore Chapter on "The Truth of Selling a Home"

THE HUNTINGTON TOWNSHIP CHAPTER AWARDED TWO SENIORS FROM THE GERSH ACADEMY WITH CERTIFICATES OF APPRECIATION for their "Support

Our Troops" project which sends donated items to our troops overseas. Picture (l- r) are Sal Barbieri, Transitional Coordinator, Gersh Academy; Peter S. Demidovich, LIBOR Huntington Township Chapter Director; Gersh Academy Seniors Sunil Attri and Andrew Velez; Marilyn Sturz, LIBOR Huntington Township Chapter President; Scott Mergl, Transitional Coordinator, Gersh Academy.

KEEP

The Suffolk South Shore Chapter held an education seminar and networking breakfast at the Timberpoint Country Club in Great River on Wednesday, April 25th with guest speaker Rick O'Neil, former Century 21 Vice President and Regional Director for the northeast, speaking on "Making Money in Today's Market."

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DOES YOUR BROKER OFFER YOU...

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THE REALTOR®

WHY NOT?

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May 2007

LIBOR NEWS

REALTOR® OUT EACH

Recognition Awards Looking For Nominees

Take a look at these opportunities for recognition that are currently underway through your local, state and national Realtor® Associations. Get your own good work noticed...get your colleagues success noticed. Nominate someone today for one of these prestigious annual awards. Realtor Spirit Award -- The Realtor® Spirit Award recognizes three individuals or group, one from Nassau, Suffolk and Queens, who have made exceptional contributions in their community. Each recipient will receive a check for $1,000 made payable to the charity of their choice. Contact Christina DeFalco at 631-661-4800 Ext. 358 for more information. The deadline for this award is October 1, 2007. LIBOR Recognition Awards -- Every year, LIBOR recognizes five Realtor® members that will be recipients of the following awards: Community Service Award, Lifetime Achievement Award, Realtor® Broker of the Year, Realtor® Salesperson of the Year, and Realtor® Affiliate of the Year. Applications are available on Docs on Demand #153 or for more information contact Connie Aiello at 631661-4800 Ext. 361. The deadline for this application is June 15, 2007.

12

THE LONG ISLAND BOARD OF REALTORS , INC.

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THE REALTOR®

LIBOR Presents Rebuilding Together with $10,000 Contribution

The Long Island Board of Realtors, Inc. (LIBOR) is pleased to continue their support for the non-profit organization Rebuilding Together Long Island. On April 17th, LIBOR President Linda Bonarelli (3rd from right) proudly presented Rebuilding Together President, Sol Goldstein, (3rd from the left) with a check for $10,000 to be used to help repair homes of low income residents. Also pictured here are: (l-r) Harold Feldman, Mary Fudens, Karen Laurence, and Joe Botkin.

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Nominate Yourself or a Colleague

NYSAR Realtor of the Year Award -- The award recipient will be honored at the NYSAR Fall Business Meetings in Saratoga. An application is available on Docs on Demand #154. Contact Connie Aiello at 631-661-4800 ext. 361 for more information. The deadline for this application is May 11, 2007. NYSAR Smart Growth Award -- This award is given annually to recognize the successful efforts of communities within New York State to incorporate principles of smart growth in their projects, policies and programs. For more information and to obtain an application visit www.nysar.com/smart/smart.html or contact Sal Prividera at 518-463-0300 ext. 208. The deadline for this application is July 13, 2007. Good Neighbor Award - The Good Neighbor Award recognizes REALTORS® who have made an extraordinary commitment to improving the quality of life in their communities through volunteer work. This year, five winners will receive $10,000 grants for their cause. Visit www.realtor.org to obtain and entry form or contact Sara Geimer at NAR's Information Central at 800/874-6500. The deadline for this award is May 25, 2007.

Realtors Participate in Little League Opening Day Ceremony

LIBOR President Linda Bonarelli, (right side of "We're More Than Realtors" banner displayed at the field) and LIBOR Suffolk County Vice President, Liz English (3rd from right behind Suffolk County Treasurer, Angie Carpenter) participated in opening day ceremonies for the Bay Shore-Brightwaters Little League Association. The Little League season in this community was in jeopardy of being canceled as a result of recent cuts in funding from Suffolk County. LIBOR made a donation to help insure that the season got underway as planned. LIBOR leadership were joined that day by Senator Owen Johnson, (left side of banner) Islip Town Supervision, Phil Nolan (2nd from left) and Suffolk County Treasurer, Angie Carpenter. (3rd from right)

New York State Association of REALTORS®, Inc.

Earn CE credit on YOUR schedule.

Learn at your own pace, on your schedule, from the comfort of your home or office ­ or anywhere you have access to the Internet. Choose from four sources of quality online education: REcampus.com MBH Educational Products CompuTaught REALTOR® University It's easy. Visit the Education section at NYSAR.com to view the online course listings, select your course and register via credit card. Courses range in length from 3.75 hours to complete 22.5-hour packages.

For more information:

Visit the Education section at www.nysar.com Call: 800.239.4432 E-mail: [email protected]

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Coach and you...a classic fit.

Training. Support. Technology. They fit together in a classic way and permeate the atmosphere at Coach. We give you the best tools for a rewarding career, along with ownership that's accessible, responsive and concerned. Over 50 years in the business has taught us what it takes to be successful with integrity. And we're ready, willing and able to share our tools and expertise with you. Call us to learn more about our Classic Fit.

Visit us on the web at www.coachrealtors.com

To discover the advantages of a career with Coach Realtors, please contact Cathleen Whelan, Director of Human Resources, 631-360-1900 or [email protected]

May 2007

LIBOR NEWS

14

THE LONG ISLAND BOARD OF REALTORS , INC.

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Realtors® Gather to Discuss Fair Housing and Cultural Awareness at Seminar

Huntington Township Economic Summit Addresses Important Issues Facing Businesses

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The Fair Housing seminar brought together Realtors® from across Long Island to discuss issues related to fair housing regulations, cultural diversity and awareness. Internationally recognized speaker, Carmela Ma, spoke on topics including: federal fair housing laws, the cost of litigation, and how the real estate industry should thrive in a climate of cultural diversity and acceptance. Pictured here at the event are: (l-r) Carmella Ma, Linda Bonarelli, Buddy Hoosein, Liz English, Max Gurvitch, Michael Mendicino, Kathy Engel, Barbara McDonough.

Are You a "Change Agent"?

As the real estate market continues to shift, top agents need to adapt to quickly changing conditions -- and help shape some of the changes themselves. Are you one of these agents? Then you need to be part of Real Estate Next, a half-day educational conference on Thursday, May 17, 2007 at the Residence Inn by Marriott in Plainview. The conference begins a 9:30 a.m. and runs through 12:30 p.m. It's Long Island's forum where industry players--from brokers to mortgage professionals, developers, attorneys, housing advocates and architects--can hear experts discuss the latest trends affecting your business. Register now. We're offering a special low conference fee of $45. Just visit www.nyrei.com and click "Featured Courses and Events," or contact Ron Roel [email protected] or call 516-671-7412.

The executive panel of industry leaders that participated in the April 24th event included: First row: Kevin F. Lawlor, President & CEO, Huntington Hospital; Christopher C. Giamo, Market President, Commerce Bank, NY Suburban/Connecticut Market; Roz Goldmacher, President/CEO and Founder, LI Development Corporation and Robert Gaffney, President, Dowling College. Second Row: Jim Morgo, Commissioner, Suffolk County Economic Development & Workforce Housing; Joseph E. Mottola, CEO, Long Island Board of Realtors; James V. Kelly, CEO & Principal, JVKG; Anthony DiMaso, Vice President, Corporate Strategy & Development, Verizon Communications; Richard Galant, Associate Editor and Business Columnist, Newsday; John Caracciolo, Vice Chairman of the Huntington Township Chamber of Commerce and Arthur `Jerry' Kremer, Partner, Ruskin Moscou Faltischek.

LIBOR's Realtor® Service Centers Offer Wi-Fi Capability

If you are a Realtor® member attending a class at any one of the four Realtor® Service Centers, feel free to bring along your laptop to stay in touch with your office and customers. Realtor® Service Centers located in West Babylon, Jackson Heights, Riverhead and Woodbury, are Wi-Fi Hotspots, and can provide wireless Internet access to any laptop that is already equipped with a wireless network card. There is no registration required to access this service, and it is always available to Realtor® members free of charge.

THE LARGEST AND FASTEST GROWING

REAL ESTATE AGENCY ON LONG ISLAND AND QUEENS

Over 250 Agents Have Recently Joined US... ...Call and Ask Them Why!

Walter Siefert (917) 883-8661 Armenta Jones (516) 849-1667 Glenda Moran (516) 410-2448 Tasia Pando (917) 698-7015

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Some of Our Great Agent Programs:

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CHARLES RUTENBERG REALTY, INC

Corporate Office: 255 Executive Dr., Suite 104 Plainview, NY 11803

516-575-7500

www.crrli.com

Long Island/Queens · Manhattan · Ft. Lauderdale · Chicago · Clearwater

15

19th Annual LIBOR Education Conference and Trade Show

Last Get on Board... Stop ... Destination Success...

FEATURING KEYNOTE SPEAKER

Ross Shafer

6-Time Emmy Award Winning Trainer and Speaker Comedian/TV Producer, TV & Radio Host "How to Ignore the Experts and Trust Your Gut"

One of the country's most sought after speakers, Ross Shafer will kick off this year's conference. Celebrity TV Talk Show host, Jay Leno, says about Ross Shafer...."the first motivational speaker without the speech...Ross is a hilarious and delivers a great message"

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THE REALTOR®

First Stop...EDUCATION

THURSDAY, JUNE 7, 2007 · 9:00 a.m. -- 4:30 p.m. (Registration Opens 8:15 a.m.) Crest Hollow Country Club Woodbury, NY

FEATURED AT THIS YEAR'S CONFERENCE

W IN

Education Sessions Presented By National Trainers on Industry Topics to Help You Succeed in the Marketplace... DON'T MISS OUT!

DANIELLE KENNEDY,

GRI, CRS, DREI

Grand Prize $1000 will be IN WIN given away at the lunW cheon... no purchase necessary. All attendees will receive a special Grand Prize Entry Form upon check in, sponsored by Meenan Oil Co.

·W

IN

WIN...

AMY CHOREW, DREI

Matthew Ferrara & Company, Methuen, MA

· Staying Ahead of the Tech Savvy Consumer...What you need to know, FIRST · The Automated Agent: The Latest in Smartphones, Podcasts, Blogs, PDA's, Camera's and More

Danielle Kennedy Productions, Los Angeles, CA

· Listing and Selling Your Way Up To The Next Level · Art of Capturing Qualified Buyers NOW!

PLAY...

Proceeds from this year's raffle tickets sold will benefit the Hagedorn Little Village School Jack Joel Center for Special Children, a fully staffed educational and therapeutic school, for infants and young children with developmental disabilities throughout Queens, Nassau and Suffolk Counties. Designer gifts, handbags, home decor, jewelry, and much more will be on display as some of this year's Chinese Auction items.

STEVE HARNEY

Steve Harney, Inc., Holbrook, NY

· Pricing it to Sell...How to Convince the Seller · BROKERS & MANAGERS: Implementing Profit Driving Initiatives: The 5 Keys to Success Special Broker/Manager Profitability Session

ROGER TURCOTT, DREI, CBR, CRB, CRS, GRI

Roger Turcott Seminars, Contoocook, NH

· Negotiatiing Winning Agreements as a Buyer's Agent · BROKERS & MANAGERS: Becoming More Profitable and Productive Today's Market Special Broker/Manager Profitability Session

SPECIAL...

Broker/Manager "Profitability" training sessions scheduled throughout the day.

FEATURING CLOSING SPEAKER

NATHAN OSMOND

Owner and Founder of Nathan Osmond Seminars and Real Estate Company

· Achieving Success Through Life's Challenges 2nd generation of the Osmond Brothers singing group. Don't miss this amazing closing session.

PREPAID REGISTRATION

BEFORE MAY 24, 2007: $89.00 - LIBOR Member $99.00 - Non-Member THEREAFTER: $99.00 - LIBOR Member $109.00 - Non-Member PLEASE CHECK ONE: Agent Broker/Manager

EARLY BIRD DISCOUNT!!!

SAVE TIME AND MONEY -- REGISTER ONLINE NOW AT www.mlsli.com/edconference/19.htm and Take Advantage of the Early Bird Discount!

Other

*To be eligible for discount prices, phone, fax & email reservations must be PREPAID BY CREDIT CARD; reservations by mail must include payment either by credit card or check & must be postmarked by 5/24/07 respectively.

16

May 2007

LIBOR NEWS

WELCOME

NEW LIBOR AND MLS MEMBERS

Valerie Hinds Weir Valras Realty Inc. Kathryn M. Ingoglia Kings Park Real Estate Inc. Leslie E. Jansson A 1 National Realty Inc. Monique M. Johnson Majestic Realty & Development Elaine Kennedy Seek Enterprise Ilan Mor Sommerset Realty Eliahu Nir Eliahu Nir, REALTOR Craig B. Sanders Sanders & Bukstel PLL Harsharan Sethi Realty 101 USA Va Lance L. Smith Bridged Equities Inc. Ofer Vilenko Ofer Vilenko, REALTOR Marea L. Wachsman Marea Wachsman, REALTOR Xing Wu Tycoon Real Estate Development ShengJin Yang Golden Sunshine Group Ltd. Jose F. Bambino Bambino Realty Corp. Linda Bangaree Linda Bangaree, REALTOR Bill J. Brake Bill J. Brake, REALTOR Jen Chao Top Value Realty Corp. Lakesha Y. Clark Lamarque Capital Real Estate James Conigliaro D J K Residential Regina R. Davis RR Regal Realty Judi A. Desiderio Town & Country Real Estate Robert V. Drago Concord Realty Group Inc. Roman Dziedzic All Seasons Realty Inc. Gary Feldman Benmac Management Group Inc. Carlos Flores Agent One Realty Inc. Joseph Greene Weichert Realtors House & Home Marco V. Gonzalez Galaxy Realty Group Inc. Dongwon Ha Eastern Alliance Realty Group

ATTENTION! ALL REALTORS

ADD 30K-50K PER YEAR TO YOUR INCOME

YOUR COMPETITORS HAVE JOINED US NOW IT'S YOUR TURN NO COST!

SIGN UP BY CALLING (516) 576-3232

Ask about the capital network program. Ext. 117

THE REALTOR®

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ATTENTION ALL HOMEOWNERS

ALL REAL ESTATE FOLKS SHOULD ATTEND

Tuesday, May 15, 2007 at CLUB TOBAGO

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Be there before 7:30pm

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After 16 years at his former major brokerage, broker owner Charlie Cruse made the change to EXIT.

Give him a Call, he'll Explain Why!

Charlie Cruse

SRES,CRB,CBR,CRS,GRI

· Come join the #1 growing Real Estate Franchise Brand in America today! · Join us on May 30th for 60 minutes with Exit and meet the CEO and founder Steve Morris · Take advantage of the easy opportunity to EARN MORE THAN 100% · Excellent RETIREMENT PROGRAM ­ "Peace of Mind" · 10% SPONSORING BONUS for EACH AGENT You Introduce Into The Company Up to $10,000 per year every year that agent remains with Exit anywhere in the system! · NO DESK FEES · Excellent TRAINING PROGRAMS · Huge 6000 square foot Upscale State of the art office centrally located with easy access to Everything!

Broker/Owner

GRAND OPENING on MAY 30th, 2007 5pm to 8pm

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May 2007

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THE REALTOR®

100% Payout Only $35 Monthly Fee

"THE KEYSTONE GUARANTEE"

Keystone Realty U.S.A. Will Beat ANY Deal By ANY Broker in New York

IF YOU LEAVE KEYSTONE FOR ANY REASON, WE WILL IMMEDIATELY RELEASE YOUR LISTINGS TO YOUR NEW BROKER AND ALL CLAIMS BY KEYSTONE WILL BE RELINQUISHED.

· FREE! Buyer and Seller Leads · FREE! Membership to Top Foreclosure Listing Company (a $600 value) · FREE! Membership and virtual tours to photowalk.com, which helps market your listings and provides presentation flyers.(a $300 value) · FREE! Personalized 800 phone number (a $20 value) · FREE! Online training with step-by-step instructions on How to Sell Real Estate (approx. value priceless) · FREE! Monthly training from professional real estate trainers ($400 value) · FREE! Elite top placement on Google, Yahoo, etc. through LIExchange.com for query search "Long Island Real Estate" (approx. value priceless) · FREE! FSBO leads for Nassau, Suffolk & Queens (a $1,000 value) · FREE! Real estate forms, marketing materials and documents located on our website (save thousands) · FREE! Use of Beautiful A-Rated Offices. Branch Locations include Melville, East Northport and Forest Hills Queens · FREE! Advertising on Cablevision IO Homes Channel #606 ($1,000/month value) · FREE! Internet advertising to dozens of web portals that include, Yahoo, Excite, Ask Jeeves, etc (approx a $300/month value) · FREE! Initial Coverage in our $1,000,000 E&O policy (Up to a $260 value) · FREE! Exclusive advertising and marketing on Long Island Exchange.com with over 2 million page views per month. ($400/month value) · FREE! Full day real estate workshop with training from various experts in the real estate field.(a $300 value) · FREE! Exclusive advertising for Long Island & Westchester on WannaNetwork.com (a $2,400 value) · FREE! Personal Website for Agents (save thousands)

Additional Services and Policies Include:

· Mortgage compensation · No minimum production requirements · Branch offices welcome · Substantial Agent Referral Programs and Bonuses · We will even pay your LIBOR dues, ask us how · Work Part-Time/Full-Time (create your own hours) · Members of REBNY (Manhattan Real Estate) · Members of Westchester-Putnam MLS and LIBOR

We Have Agents From Manhattan to Montauk ­ Over 170 Agents and Counting!!

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18

May 2007

Attention: Experienced & New Agents

DISCOVER LUXURY JUST 16 MILES FROM MANHATTAN!

DISCOVER BEAUTIFUL

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THE REALTOR®

IS IT TIME FOR A CHANGE?

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Contact On Site Real Estate Broker Linda Rappaport for more information www.nstowers.com

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Greenthal

Charles H. Greenthal Property Sales 272-40 Grand Central Parkway Floral Park, NY 11005

718-423-3130

MAC LEVITT

With 4 Office Locations:

Oceanside ­ Baldwin ­ Freeport - East Rockaway

At Century 21 Mac Levitt, You Will Receive...

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®

1670 Old Country Road, Suite 208, Plainview

(NEXT DOOR TO THE PLAINVIEW POST OFFICE, LIE EXIT 48)

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FREE BUYER / SELLER / REFERRAL LEADS!!

ONLY THROUGH THIS OFFICE! B ROKER T RAINING ONE ON ONE! L EARN TO L IST ! / B UYER B ROKERAGE ! N O M INIMUM C OMMISSION R ATE ! R ECEIVE 95% IN C OMMISSIONS !

LET OUR SUCCESS WORK FOR YOU!!!

Call for a Confidential Interview Ask for Greg Verity or Jay Anderson Corporate Headquarters (516) 764-6200

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SERVING ALL OF LONG ISLAND RESIDENTIAL & COMMERCIAL NASSAU 516.822.REMAX (7362) · SUFFOLK 631.667.REMAX (7362)

ALL APPOINTMENTS CONFIDENTIAL ­ Call Owner/Broker 631.514.4960

NOW AVAILABLE

2007 LIBOR MEMBERSHIP DIRECTORY

2007

MEMBERSHIP DIRECTORY

The Long Island Board of REALTORS®, Inc.

Where the Real Estate Professional Belongs

Order Your Copy Today for Only

$30.00 Each (LIBOR Members),

Plus Tax and Shipping

$45.00 for Non-members Plus Tax and Shipping

PLEASE PLACE MY ORDER FOR ____ COPIES OF THE 2007 LIBOR DIRECTORY.

Enclosed is my payment totalling $_____________. RETURN ORDER FORM WITH PAYMENT TO: Long Island Board of REALTORS 300 Sunrise Highway, W. Babylon, NY 11704 ATTN: Thelma Name ________________________________________ Member # ________________________ Firm Name: ____________________________________________________________________ Shipping Address:________________________________________________________________ City: _______________________________________ State: ____________ Zip: ____________ Phone Number __________________________________________________________________

s MASTERCARD

s VISA

s AMEX

s CHECK

s DISC

CARD #: ____________________________________________ EXP. DATE: ________________ SIGNATURE: __________________________________________________________________ Credit card paid orders may be faxed to (631) 587-2166 ATTN: Thelma

Questions? Call Thelma at (631) 661-4800, ext. 327 Document-on-Demand #322

NEWS

LIBOR Holds Another Successful Day at the Races

Over 100 REALTORS® recently gathered at Belmont Race Track for the annual RPAC Day at the races featuring food, festivities, and fundraising for RPAC. Pictured are (l-r) Linda Bonarelli, LIBOR President; Matthew Arnold, RPAC Auctioneer; and Patricia Levitt, RPAC Chairperson.

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Grand Prize ---Cruise on the World Famous Queen Mary 2

($5,000.00 value or cash equivalent)

2nd Prize 2 Night Stay at Mohonk Mountain House ($1,750.00 value or cash equivalent) --

3rd Prize $750 American Express Gift Cheque ----For every $20.00 you contribute to RPAC from March 1st thru September 30th, 2007 you will automatically be entered with one entry into this sweepstakes.

RULES: All RPAC Contributions from March 1, 2007--September 30, 2007 are eligible. All Contributors are automatically entered. The Drawing will be held at LIBOR's General Election Membership Meeting on October 23, 2007. You do not need to be present to win. Winner will be notified by phone. Entries must be received by September 30, 2007. Make Checks Payable to RPAC. Personal and Corporate contributions are accepted.

GROW YOUR BUSINESS WITH TODAY'S TECHNOLOGY BROUGHT TO YOU BY MLSLI

www.mlstechs.com · 631.661.4800 ext. 11 [email protected]

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May 2007

MLS NEWS

MLS INFO LINE

By Donald Scanlon, MLS President

THE MULTIPLE LISTING SERVICE OF LONG ISLAND, INC.

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THE REALTOR®

Over the past few weeks, many of us Compensation, to comply with the new have seen an increase in the number of Agency Disclosure form. Also look for buyers looking for homes. This is nothing expanded property description (from 275 new at this time of year. What is interest- to 375 characters,) expanded remarks secing is that prices have remained relatively tion (from 275 to 375 characters,) and the addition of school district stable (within 1-2% either now being a "required field." way) despite that fact that The new contract portion of there are more properties for "Some brokers the listing agreement is now today's buyer to look at. are still using available at all service centers. Even with the recent grumblings about a sub-prime fall- a listing agreement This agreement is in total comout that is resulting in tighter that may not be in pliance with the new agency disclosure form and DOS reglending standards, many compliance." ulations. You will probably Realtors® would agree that want to start using it immedithis is still a great market for ately since it contains some both sellers and buyers. The number of visits to MLSLI.com has additional language to protect you and your consistently increased. It has become the commission. Unfortunately, some brokers premier website for consumer real estate are still using a listing agreement that may information, and has even surpassed not be in compliance with DOS regulations. Realtor.com on Long Island. The addition Classes are being offered on both the new of the Consumer Tips videos has been a disclosure form and listing agreement. By next month, you should have the tremendous success. You can even link these videos to your own website. More ability to order at a reasonable cost, limitand more agents now realize that con- ed title searches for liens & C/O's via a sumers want pictures, mapping, and accu- Stratus link to Barretta Research. This rate information. Another major enhance- will be a very powerful enhancement to ment is that the consumer can now search the valuable services you already bring to the table as a Realtor®. for properties in 12 languages! On Stratus, there have also been some changes that are just about complete. Look for "Broker Agency Compensation" in addition to Sub Agent and Buyer Agent

New Listing Agreement Now Available

The new residential and condo/coop listing agreement is now available. You can purchase these forms at any of the Realtor Service Centers, online, or by faxing in your "Supply Order Form" available through Documents on Demand #103. Rental, Land and Commercial forms should be available sometime this summer.

AND AND V II E W S EWS

NEWS EWS

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· On Ren and Com Rentals "Agency Offered" has been added. The choices are any combination of Tenants, Brokers and Landlords. To stay on top of updates and changes, remember to watch for news on the Stratus Info Center and check the Enhancement Archives and Stratus Tips Archives as well.

MLS Advertising Campaign

Complimentary copies of the MLS advertising posters that promote the message "Buying or Selling a Home? Insist on Multiple Listing -- Visit MLSLI.com" are now available. Anyone member wishing to receive a copy to display in their office should their request to [email protected]

Consumer Tip Videos Available for Free Download Increase Web Traffic by Increasing Web Content

The first set of video tips cover a range of buying and selling topics such as, "How to Prepare for an Open House", "Preparing for the Sale of Your Home", and "Financing the American Dream." There are currently six videos available for downloading. Downloading these videos is easy. First, MLS participants visit the videos.mlsli.com site, or have whoever is in charge of your websites content and management do this for you, complete the short registration form, click submit - and then start downloading any or all of the videos to your computer. Once they have been successfully downloaded and saved, they are ready to be placed on your website and viewed by your website visitors. Brokers are encouraged to grant permission to their agents to place a copy of the consumer video tips on their websites too.

New Stratus Data Fields Now Live

The new data fields as listed below have been implemented on Stratus. The following were made to go along with the new Agency Disclosure Law to clarify what type of Agency is being offered: · On Res, Con, Lan and Com Sales there will be now be 3 options for whom to offer compensation to; Seller Agency Compensation, Buyer Agency Compensation and Broker Agency Compensation.

Fines Given by the Rules Committee for Failure to Submit Requested Paperwork Since 7/11/05:

$2,500 $2,000 $1,500 $1,000 $500

-- -- -- -- --

1 fines 1 fines 3 fines 6 fines 9 fines

$400 $350 $250 $100

-- 1 fines -- 1 fines -- 12 fines -- 1 fines

MLS

Q&A

Directors in December of 2000, the Listing Broker is required to insure that information regarding the status of their listings is readily available at all times. Participants must insure that a system is in place, through agents or staff, that as long as the office is open, someone there will have timely and accurate information on the status of a listing.

GET YOUR COMPANY NOTICED...

ADVERTISE ON THE WEB... MLSLI.COM

ADVERTISE HERE

Q. A.

I have tried to find out the status on several listings and have been told by the receptionist in the listing office that I must wait for the Listing Agent for that information. Is it okay for them to do this? No. According to a policy approved by the MLS Board of

MLS TECH SUPPORT SERVICES IN YOUR OFFICE OR HOME

MLS OFFERS A FULL RANGE OF TECHNICAL SERVICES INCLUDING: FREE OFFICE NETWORK ANALYSIS!

VISIT US ON THE WEB AT WWW.MLSTECHS.COM

YOUR CUSTOMERS EXPECT YOU TO BE ONLINE!

Advertise your business on MLSLI.com for only $275 per month and get your company noticed by thousands of buyers and sellers that visit the site everyday.

SCHEDULE AN MLS TECH TO VISIT YOUR OFFICE AND EVALUATE YOUR NETWORK NEEDS FOR FREE!

Contact Donna Lee at 631-661-4800 ext. 348.

Call Us at (631)661-1750 or Email [email protected]

TECHNOLOGY

TECHNO-BITS

A Web 2.0 Sampler: YouTube, ActiveRain, & iTV

By Jennifer Hazen NAR's WebWizard Report Three products show how the power to create and share content is changing the Web as we know it. Technology changes every minute of every day and at times it seems almost futile to stay informed of the latest and greatest. The recent surge in popularity of Web 2.0 comes at a time when most people are still getting used to the plain old Internet. So what exactly is Web 2.0? Coined by O'Reilly Media technology expert, Dale Dougherty, the term defines a vast umbrella of blogs, wikis, and social networking sites that make up the "participatory web" -- sites that encourage visitors to actively participate by adding their own comments, suggestions, videos, and other content. Such sites have become enormously popular in recent months, and their influence continues to expand. Here are two websites and one new gadget that embody many of the features of Web 2.0 and their applications for real estate professionals. another mode of communication for real estate professionals to share information with one another, obtain referrals across the country, and drum up business. Members can e-mail one another, participate in each other's blogs and add photos of listings or information on niche skills such as home staging and testimonial quotes from customers. The site also features agents based upon a point system, which can further increase exposure to potential customers and other agents. The more points a profile has, the more heavily it will be promoted on the network. Blogging on the site is very active, as members post comments to exchange ideas and information. Reports on Emerging Technologies say that Web 2.0 will have significant business impact in the next half-decade and companies everywhere are having to consider how it affects their business.

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Potential Uses & Impacts on the Real Estate Industry YouTube

YouTube is an excellent resource for uploading, sharing and tagging fun and/or informative videos. By creating a free account, YouTube users can find, join, and create a group of family member users to share home videos privately or publicly. Another potential use of YouTube is advertising. Many companies have already taken advantage of this free resource to reach markets that may not watch television or read newspapers as much as other demographic segments. Information on topics such as final walk-throughs, selling in a slow market, or the effects of pools and hot tubs on property values can all be shared via YouTube to reach buyers, sellers, even other REALTORS®. REALTORS® are already creating commercials and virtual business cards on YouTube, and large franchises are uploading video listings of homes on the popular site. YouTube allows real estate professionals to reach out to a new generation of home buyers and sellers, be creative (if desired), and gain wider exposure on the web by advertising their skills and knowledge, their websites, and even their blogs...all for free.

TECH TIP

By Dana Nowick

MLS Product Marketing Specialist 631-661-4800 ext. 367 · [email protected]

Search Engine Marketing -- Online Marketing That Works!

MLSLI knows that positioning your Website with some of the most popular search engines will help you better reach your customers. By continuing to work with companies such as Google, Yahoo, and MSN, we plan to get more traffic to your listings so they are viewed by more consumers on MLSLI.com. The same is true for your own website. Simply putting up a Website and then sitting back and expecting customers to come find you -- is an ineffective marketing strategy in today's competitive real estate marketplace. Make sure that potential customers find you by making your Website more visible on the Internet through Search Engine Marketing. How do you do that? That's the #1 question I'm asked when I demo websites at morning meetings. First let's take a look at the two basic ways you can get positioned in a search engine such as Google, Yahoo, and MSN: 1. Pay-per click (PPC) -- paying for an advertising position using a search engine like Google. You pay the search engine every time a consumer clicks on your link through that search engine. You bid for specific key phrases (eg. Babylon real estate) and the bid amounts relate to the position on the major search engines. The higher the position, the higher the cost if a homebuyer was to actually click on your link. 2. Search Engine Optimization (SEO) -- focuses on "natural" techniques such as making sure that each web page has appropriate title tags and META tags, and that the keyword or key phrases for the page are distributed throughout the content in a way that the particular search engine will like -- making your site rank higher than others. What's the difference? PPC positioning is almost immediate because you are paying for the exact position your budget will allow. SEO can take weeks before your listings appear in higher spots, but it can be free and can drive new customers to your Website. Here are some helpful places to incorporate key phrases if you decide to do your own SEO. Keep in mind that these "key phrases" should be the phrases you customers may use when performing a search. · The URL of your site -- for example: www.queens-realestate.com. · The body text of the page -- very important. · The position of the key phrase within the associated text -- the closer the key phrase to the beginning of the text the better. · The META tag "title" of the page -- the title tag is what the user will see at the top of the browser window, as well as in the search results as the linked title to your Web page. Title tags help search engines determine your web page's relevancy for certain keyword phrases. · The META tag "description" of the page -- a concise explanation of a web page's content. This allows the webpage author to give a more meaningful description for listings. The description is often, but not always, displayed on search engine results pages, so it can impact click-through rates. · The names of the graphic images -- the actual file name you saved your picture as on your computer, for example: keyphrase.jpg. Ready to get started? Visit www.devel opingwebs.net/tools/metatag.php to generate your own META tags for your website. Finally, try going to your favorite search engines and typing in your selected key phrases. After you see which sites come up first, go to those sites and see what they have done. Have a tech topic or tech question you would like to share? Let me know! Visit us on the web at www.mlstechs.com. MLS Products and Services -- innovative tools and technology to help your business in a competitive market. You know us. You trust us.

What Is...YouTube?

YouTube, is a consumer media website. Originally created as a personal video sharing service, it allows any Internet user to watch, share, and comment on videos uploaded to the website. Videos include movie trailers, television shows, personal testimonials, advertisements... just about anything that can be recorded by a webcam or video recording device can be shared on YouTube. The site's popularity can only be described in numbers: users watch more than 70 million videos on YouTube daily.

iTV

Since any media on a PC or iPod can presumably be downloaded to Apple's iTV, the possibilities with this product are endless. The seamless integration with movies, TV shows, and music purchased from Apple's iTunes store will make media viewable on a large screen. The iTV could help the television regain its standing as a central entertainment appliance in many households, and reduce some clutter at the same time -stereo systems, DVD players, VCRs, DVD and CD cases may become a thing of the past. Potential home buyers can view large photos before buying a home while sitting on their couch, so no more straining to see small photos online. Everything from open house videos taken from a cell phone to professionally-made virtual tours can be watched on the device as well -- even videos of a neighborhood with footage of schools, community shopping centers, restaurants, spas, and cultural and recreational facilities. Helpful information for sellers such as videos containing home staging tips or local market condition reports can be created and displayed on large screens with the iTV, too. This convenience could enhance the buyer's experience with the REALTOR®, leading to higher potential for customer satisfaction, referrals, and repeat business.

What Is...iTV?

iTV (as it is being tentatively called until its official launch) is the latest creation by Apple, Inc. which is slated for release in the first quarter of 2007. This wireless streaming TV set-top box is best explained by the company's tag line: "You can take content to your computer or iPod, but now... TV." In other words, this book-size box detects the presence of computers in your home and allows you to wirelessly feed whatever you've downloaded on iTunes and play them on a TV. This includes videos, TV programs, movies, music videos, music, and more. A remote control device is included with the iTV to allow easy selection of media via an iTV menu. According to reports, iTV will work with iTunes on both PCs and Macs.

What Is...ActiveRain?

ActiveRain is best described as the real estate industry's answer to MySpace or FaceBook. Launched in June 2006, ActiveRain is a free networking site for real estate professionals across the United States. Members are categorized by geographic location and create profiles containing a photo, general information regarding specializations, and more. It takes about five minutes to set up a profile and there are over 7,500 profiles in the network with more added daily.

ActiveRain

On ActiveRain, members can create a free, immediate Internet presence that is quickly indexed and ranked by search engines. ActiveRain is constantly growing, which translates to a larger network to share ideas and create out-of-area referrals. The site's blogs and forums are also free avenues of communication, allowing members to increase visibility with home buyers and sellers and other agents. ActiveRain is yet

THE REALTOR®

This & That

Exciting changes are occurring at Southside Hospital in Bay Shore, part of the North Shore LIJ Health System. To help get the word out to the community, they are holding their 1st Annual Realtor Luncheon & Tour on Tuesday, May 22, 1 pm ­ 3 pm or Wednesday, May 23, from Noon ­ 2 pm . Anyone interested in attending should contact Patricia Rattigan @ (631) 968-3322 or email to [email protected] prior to May 17th.

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low income women for employment. Pictured: Daniel Gale Sotheby's International Realty's Marketing Coordinator Abby Sheeline flanked by Theresa Leuffen (right), Director of the Office of Women's Services, Town of Brookhaven and Sharon Boyd from the Town of Brookhaven. Long Island Village Realty Inc. recently celebrated the Grand Opening of their new office located at 2 Jackson Ave. in Syosset, congratulations are also on hand for Frank Jr. and Susan Urso, who have both completed the 45 Hour Broker Qualifying Course in March.

ages in Nassau County with over 400 licensed sales professionals and 8 office locations. Tom Gallagher and Mike Litzner, Broker/Owners of Century 21 American Homes are proud to welcome the entire staff of agents from Terrace Estates Realty to better serve the real estate needs of the community. The American Cancer Society's Relay For Life is a unique celebration of life in honor and in memory of those whose lives have been touched by cancer. It is a noncompetitive team event where people take turns walking, running, skipping or dancing around a track, relay-style. Enjoy music, food, fun, entertainment and activities while building camaraderie with fellow teammates and participants. The power of Relay is that it allows communities to grieve for those lost to cancer and to celebrate the lives of those who have survived. For the newly diagnosed, Relay offers a chance to meet someone who has survived the same type of cancer. Richmond Hill Relay's celebration will take place at Smokey Oval Park on Saturday, May 19 through May 20, 2007. Please call Romeo Hitlall or Carolina Soto 718-738-9000 with any questions. Laffey Associates celebrated the 2006 Century 21 Annual Awards Event held at the Hyatt Regency Windwatch, the evening was filled with fine dining, dancing and plenty of Awards. Criterion is based on annual cumulative sales production by dollars and by units. Laffey Associates collected numerous top honors for Individual, Office, Team and

Firm sales production. Awards went to: Janet Berookhim, recipient of the 2006 #1 Top Producer Award, the team of Joyce Styne & Susan Cherney, the Gold Star Circle Team, received the Top Team Award, seven (7) Laffey Offices were listed in the Top 100 by Office for Outstanding Sales Production: Greenvale, Great Neck, Williston Park, Bellerose, Port Washington, Westbury and New Hyde Park. The firm of Century 21 Laffey Associates was recognized for their outstanding production in 2006 based on sales volume and the firm also received the #1 Fundraiser Award for its philanthropic efforts on behalf of Easter Seals. Lloyd's Realty Corporation currently operating out of two offices on the North Fork of Long Island has welcomed three new real estate sales agents to its Cutchogue office, Jean Marie Bay, Kathy Van Duzer, and Laura Fernandes.

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Daniel Gale Sotheby's International Realty Helps Low Income Women Dress for Success

A dazzling collection of designer suits, coats, raincoats, blouses and accessories-enough to require the services of an industrial-sized van -- were recently delivered to "Dress for Success Brookhaven", thanks to the generosity of the staff and management of Daniel Gale Sotheby's International Realty. This marks the seventh year that Daniel Gale Sotheby's has participated in the Dress for Success clothing drive, which collects professional attire to help outfit

Fellow Realtors Joseph Pontecorvo (left) and Kathy Engel LIBOR Secretary (right) were on hand for the installation of James Reed, Nassau County Deputy Commissioner of Consumer Affairs, of Long Beach as the President of the Order of Sons of Italy in America, Michael Valente Lodge No. 2667. Century 21 American Homes is pleased to announce the merger/acquisition of Terrace Estates Realty in Baldwin, NY. Through this merger/acquisition Century 21 American Homes is one of the largest real estate broker-

OBITUARIES

We regret to inform you of the passing of John Martinelli of Daniel Gale Associates in Syosset. A service was held on April 9th at Whitting Funeral Home in Glen Cove. We regret to inform you of the passing of John Twomey, father of Kathleen Unger of RE/MAX Action Freeport. A service was held on April 19th at Tower Funeral Home in Oceanside. Obituaries can now be found on The REALTOR only web site at mlsli.com/ro/newsitems/news.asp

The most complete listing of Real Estate Foreclosure notices available for the five boroughs of New York, Westchester, Nassau, and Suffolk counties. Delivered weekly reformatted with additional features not included in the notice.

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Ask about the capital network program. Ext. 117

RPAC

2007 RPAC HONOR ROLL

GOLDEN R ($5,000 AND UP) Joseph L. Canfora* Dorothy Herman Patricia Levitt Audrey Livingstone* CRYSTAL R ($2,500 TO $4,999) STERLING R ($1,000 TO $2,499) Mary E. Adams* Christopher Armstrong Linda Bonarelli* Ralph Bove Kathleen L. Engel* Lisbeth N. English* Melvyn S. Farkas* Barbara F. Frechter* Susan G. Helsinger* Walauddin Hoosein* Maxwell S. Levitt Otto Lugo* Mary F. McLaughlin* Michael Mendicino* Walter D. Messina* Joseph E. Mottola* Donald C. Scanlon* Moses Seuram Joseph T. Sinnona* Frank S. Urso* Marilyn Urso* Mohsen Zandieh PRESIDENT'S CLUB ($500 TO $999) Gabriele Bishop* Floyd G. Earl Nicholas Gomez Mohinder Taneja CAPITOL CLUB ($250 TO $499) Bridget D. Allim Dorothy A. Aschkar Alan L. Berger* Charles S. Cortese Marie A. Costello* Rocco J. Famiglietti Barbara Ford Brigitte E. Greene Lisa Healy Gary A. Knotoff Sheryl F. Kushnick* Richard M. Shane Edward S. Smith Carol A. Sparaco Neil E. Sterrer Frank A. Urso* Susan L. Urso* Paul K. Wernersbach $99 CLUB ($99 TO $249) Richard W. Abatelli Husni A. Abou Saab Nancy A. Achstatter Kenneth L. Adamo Michael Adelstein Mark S. Adler Edul N. Ahmad Rafik Ahmad Karen C. Alberman Michael Albert Sheinkopf Vincenza Alia Asher S. Alon Jacques Ambron Shanti Ammar Diane E. Andersen Mark G. Anderson Paula M. Annarumma Caruso Joseph Ardito Richard B. Arnold Anthony D. Atkinson Kenneth A. Auerbach Nora E. Avalos Alba M. Ayala Azucena M. Ayala Diab Reuben Azel Glen A. Ballard John E. Banham Michael Barone Christian Bastian Joanne C. Bechhoff Sharona Beck Carole Belley Michael Bello Rachel Benedetti Mohamed Bessai Gina M. Bettenhauser Anita Bleier Jerome H. Blue Lucille Bonanno Ernest F. Bonifazio Kathy P. Borg Kim M. Bowdwin Geralynn Bozza

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REALTORS POLITICAL ACTION COMMITTEE

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IT'S YOUR BEST INVESTMENT IN BUSINESS!

Bill J. Brake Robert Bretscher Arthur Briscoe Barbara A. Bucovetsky James M. Burns Denise C. Buser Zillah A. Bush Franklin D. Butz Nelson N. Byfield Manuel P. Cabeca Miguel A. Cabrera Denise A. Calderone Allegra Capra Peter M. Caputo Craig S. Carbone Russell H. Carey Peter Caruso Gloria Catsimalis Peter J. Cavallaro Fang C. Chan Karen P. Chan Chandan Chandan Jen Chao Raiyen Chen Kumal A. Chetram Anne Marie Chirichigno Soun Young Choy John Ciurcina Monique M. Clarke Anessa V. Cohen Michael G. Cohen Peter J. Cohen Yaron R. Cohen Anthony Como John Condon Patrick Consalvas Anthony Conti Raymond A. Cooper Laura Copersino Carol P. Costanzo Barbara Crowley John Crowley Pedro Cruz Lora Cusumano Alfred Daddio Samuel A. Dare Surekha S. Dave Paul J. Davey Regina R. Davis Nilo A. DeLaTorre Frank Dell Accio Vincent Dell Accio Joanne T. DeMaio Ying Deng Suzanne DeNoyior Steve DePinto Kissoon Dhanraj Janis A. DiGiovanni Josephine G. Dizon Sabita D. Doodnauth Lou Dorsam Louise E. Doyle Jian J. Du Kenneth J. Dunn Fred A. Duran Sooroojnee Edoo Robert Eisenoff Allan R. Eldridge Shawn Elliott James H. Elstroth Akiva Kevin Emergi Janice L. Fagan Quenida Falcon Eilen W. Fan Gary Feldman Mitchell Feldman Suzanne Ferenczi Renzo Fiallos Cosmo Ficara Warren M. Fink Andrew H. Finkel Georgianna F. Finn Kevin P. Fitzpatrick Carlos Flores Harris S. Focer Beatrice Formickella Jennifer Fox Susan L. Francis Frances Franco Dougall C. Fraser Sally Froccaro Takeshi Furumoto Vinod K. Gadura Ron J. Gal Deborah L. Galligan Carol Gallo Turschmann John C. Gandolfo Joy B. Gape Jhony F. Garcia Pablo A. Geymayr Vincent J. Gianelli Camellia Giardina Nicholas Gigante Stanley E. Gilpin Elizabeth Gittens Steven H. Glassberg Barbara Goldfeder Susan Goldman Paul A. Gomez Thomas J. Goodman David I. Gotthelf Gerald Graham Diane M. Grande Shelina Graves Paolo E. Greco Evan Greene Gregory E. Greene Ivan E. Guerrero Anthony L. Guidice Ronald P. Guzas Leesa Haas George N. Halvatzis Matthew T. Hancock Robert L. Harding Joanne F. Harms Richard H. Harsch Howard F. Hart Matthew Hart Roger J. Hayes Kelly A. Hicks Valerie Hinds Weir Arthur M. Hofbauer Philip W. Hyatt Anthony Imperato Walter Imperatore Mohammed M. Islam Janet Iveson Ester Jaeger Harry K. Jairam Leslie E. Jansson William Jee Monique M. Johnson Lucio A. Jovel SMS Kabir Basmattie S. Kahnauth Arihay Kaikov Randy Kaplan Christopher G. Kaufman Thomas S. Kelly Elaine Kennedy Amy Kernaghan Richard Kilfoil Young B. Kim Maureen A. Klersy Sharon Kollore Catherine Kolsch Emily P. Koo Gina M. Kritikos Mary J. Kronwitt Sidney Kwintner Steve Lagoudis Mei Ying Lai Monica Lai Maria Lanigan Pamela G. Lanigan Ann M. Lasker Anthony A. Lauto Sheila Lawrence Brian D. LeDonne Joann Lee Charles Lefkowitz Sandi Lefkowitz Shu Yun Li William Li Lisa M. Lilly Yvonne Lloyd Donna L. Lomenzo Brian P. Lomot Martha Y. Lopez Shiu Fang Lou Charles Lovell Rita J. Lowry David G. Lucas Johnstone S. Ma Louis J. Macari Jorge L. Machado Patrick H. Mackay Erik C. Mahler Malachy T. Mahon Susan D. Maisto Amnon M. Malul Jack Gajraj Mangra John F. Maniec Jean Mansueto Ray Manzoni Francesco S. Marino Judy S. Markowitz Robert Martian Vito Martinico Edna Mashaal Peter Mastroianni Dorothy J. Matinale Thomas J. McCarthy Pangeta R. McGrowther Everton M. McIntyre Maureen A. McMahon Claudette Y. Medley Charles J. Mehlman William E. Meier Alfred J. Melillo Bernard Miglio Boris Mikhailov Lola N. Mitchell Stephen Mogelefsky Lionel A. Mohabir Gloria C. Molloy Everton G. Moore Alice H. Morabito Keith E. Moran Michael J. Morris Joseph M. Moshe Sunil A. Mungroo Fina Musso Paul P. Napolitano John F. Navaretta Ozell R. Neely Gisela I. Nightingale Eliahu Nir Lynn Nunes Gerard L. O'Connell Virginia O'Dwyer James F. O'Kane Deirdre N. O'Connell Wilson I. Odigie Alexandra Orfanoudakis Peter T. Orisses James Orticelle Eric Pagan Jorge E. Palacios Maria S. Palmar Geneive Panton Vincent C. Papa Maureen Papalas Christopher M. Pape Angela K. Parisi Francis A. Paruolo Chrysa Pasqualone Antonio J. Patino Jay Pegram Denise Perfido Oneyda E. Perla Haimraj Persaud Jhairam Persaud Poonraj Persaud Louis Pescatore John L. Petsco James A. Phillips Rosanna Piazza Gilbert A. Picard Michael Piccolo Eytan A. Pick Joseph Picone Rosetta L. Pirillo Thomas M. Potter Jolie Powell Rose Marie Princi Rudolph Princi Joseph Ragnauth Cipher Rahiem Tanveer Rahim Muhammad A. Rahman Mark Ramjeet Manoj M. Rawh Kenneth Reed Paul B. Reiss Maribel X. Reyes William C. Rhodes Carl W. Riese Raymond N. Rivera Asia Roberts Francis Seibert L. Robinson Gloria I. Rodriguez Diana M. Romano Ronald Rosaliere Melly D. Rosario Willard L. Rose Tina Rossetti Katherine Rossi Roberto Rossi Harriet M. Rowan Todd Roy Paul A. Ruddock Miriam J. Ruiz Daniel Ryan Craig B. Sanders Anthony Santiago R J Santiago Richard D. Santiago Geraldine S. Sapanaro Kenny Kamil Sattaur John Z. Savoretti Azalea H. Scally Nancy Scarola Marlena C. Schein Bruce H. Seger Henry A. Setaro Harsharan Sethi Barbara Shane Riaz A. Sheikh Brice J. Sheppard Julia Shildkret Steve S. Shin Kitty Lin Shum Dwight Sibblies Baldev Singh Jasvir Singh Nishwa P. Singh Powan K. Singh Kevin A. Smith Mitzy Smith Va Lance L. Smith Roy Sobel Andrea Soho Richard J. Soleymanzadeh Florin J. Spariosu Anthony Sperrazza Angela T. Starr Shawn Steinmuller Isa D. Stykes

LIBOR'S RPAC GOAL HAS INCREASED FROM $386,385 IN 2006 TO $407,000 IN 2007 BASED ON RPAC FAIR SHARE OF $15 PER MEMBER. For more information, please contact Randy L. Kaplan, Director of Governmental Affairs, Ext. 380.

Dave Surujnarain Madan P. Surujpaul Marie Svec Thomas F. Tabone Peter J. Taryan Harry G. Terezakis Lawrence A. Tesch Leo S. Testa John Testaiuti Mildred Thomas Robert Tomich Kenneth A. Trestka Todd A. Triolo Christopher Tscherne Demetri Tsilogiannis Bill Tsoumpelis Basmattie Udit Sukhu Richard S. Ulrich Giuseppe Vaccaro Vincent Vaiano Carmen Valdez Valerie Van Cleef Charlotte Vanderwaag Lucy A. Verdeschi Gregory J. Verity Ofer Vilenko Hernando Villamil Marea L. Wachsman Jeremy Walsh Una Walsh Alfred Walter Jyh S. Wang Aaron M. Waxler Estella Wilder Allan C. Williams Shareefa Williams Sonja L. Williams Edward F. Wilson Richard M. Witt Byung Soo Woo Joseph T. Wright Xing Wu Willie M. Wyatt Man C. Yam Zeng Wen Ye Martin Yip Nir Zeer Michael A. Zimmerman

Please note -- due to space limitations, the contribution date range of 3/28/07-4/30/07 was used for the Less than $99 category. LESS THAN $99 ($20 TO $98) Patricia Abamonte Gloria Y. Abdul Caryn S. Alfano Donna L. Andersen Victoria Angrisani Wallace Mirna E. Avalos Cathy Ann Azzilonna Deonarine Basdeo Rozanna Beaumont Chris Berkowitz Bernard Bernadin Lata Bijoor Anita Bleier Richard D. Bocchieri Michael J. Boston Tracy L. Boucher Josephine Brandine Frances Broncatello Joy H. Bryant Salvatore J. Buscemi Erminia J. Bush Jianxun Cai Patsy T. Calabrese Paul J. Cameron Nadine L. Castronovo Ju Fen Chang Shi Jei Chang Ming Chiu Cheung Larry Chorne Evangelia Christodoulou Craig E. Clark Joseph M. Clark Mary R. Clay Carol G. Clinton Nancy E. Coletto Maxine M. Conlin Roberta D. Coward Loraine R. Crivelli Anna Cummings Branko I. Cuzzone Charles J. D Agostino Samuel DaGrossa Kathryn M. Dassau Irma Delgado Donna DeVito

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THE REALTOR®

Matthew D. DiLeone Kathy L. Dodd Carol Ann Edwards Syed M. Elias Josephine M. Ferrara Kathleen A. Fisher Joseph Flohr Laurie Flohr Adela Flores Mena Hugh L. Foster Suzette M. Foster Marian Fraker Gutin Sheila G. Francois Ira Freireich Mary G. Fudens Miguel A. Fuentes Vincent F. Gannon Neil B. Garfinkel John A. Gartiser Dawne Gautier Paula Gerber Mauricio O. Giraldo Gail M. Gladstone Russell Greck Christopher M. Green Roseann Greene Maryann A. Grippi Angela Gualtieri Louis Gutin Dorrie C. Hammill Lois M. Hanson Catherine Henriquez Amaury Hernandez

Maureen J. Higgins Mohamed A. Homsani Michael L. Huckabey Alaa Jaber Goldie Jain Caroline Jemison George Kalogiannis Nicholas Katsanos John T. Kilfoil Andrew La Sala Carline Landais Joseph A. Laracuente Michele Lavalle Terri Levin Marjorie T. Lord Virginia Luque Mark A. Malsky Carmelo A. Manganaro Laura Mannarino Theresa A. Marangiello Suzanne Maxwell Barbara McDonough Graciela L. Melero Charmaine F. Mikolajczyk Velina J. Mitchell Yolanda Montefusco Michael Moskowitz Elzbieta D. Mroz Paul A. Musso

Kennedy A. Mykoo Giuseppe Nastasi Michael O'Donnell John O'Kane Chanyute Oottamakorn Rosemarie Orlando Sabrina Page Richard H. Park Susan E. Parks Claudia Paulino Nino Perdomo Hamlet Perez Linda J. Petralia Richard C. Picardi Allison B. Platt Norma S. Poulin Francesco Puccio Jo Ann Quezada Ramon Quintana Tayseer Razik Donna Reardon Joseph M. Record Hilda Redmond Witt Barbara A. Rivera Cheryl A. Rivera Inshan A. Rojan Michael J. Rojas Leah E. Rosenberg Lee Rothleder Danielle D. Salvio Rosanne M. Sauers Eileen Scheiner Lillian Serrano Silhouette Shannon

Lalan K. Shewcharan Cui Qin Shi Melvin Silverman Leonard Simonetti Tracy L. Sobel Katherine Soldati Vincenzo Sordillo Christine A. Spates Robert M. Stark Antoinette V. Steo Yoshinori Takita Maria Tzortzatos Donna M. Valenti Daniel Valle Maria C. Vicari Victor W. Villamar Hector F. Villatoro Ajit Vora Loretta Wahlberg Kyle V. Wallace Renee R. Wallace Barbara J. Wanamaker Elinore West Kenneth J. Weydig Judith A. White Alice J. Wilken Maverney I. Williams Latania R. Wilson Joey S. Yang ShengJin Yang Kuen Jin Yee

$407,000

GOAL

$221,000

RPAC UPDATE

By Pat Levitt, RPAC Chairperson

RPAC is Your Best Investment in Your Business!

Well...2007 is now in its 5th month. This year is certainly "racing" by. Speaking of "racing", LIBOR's 4th Annual Day at the Races was a huge success. Matt Arnold, our Suffolk RPAC Vice-Chair, did a fantastic job as auctioneer for our 5 live auction gifts. We also had 12 items on the silent auction and another 16 on the Chinese auction. Approximately $10,000 was raised for RPAC. The food was good, the company was great and everyone that attended really enjoyed the day. If you missed this event this year hopefully you'll join us next year for RPAC's 5th Annual Day at the Races. Audrey Livingstone recently attended a National RPAC Trustees meeting. They discussed many ideas for an RPAC slogan and came up with "Drive the Point Home to the Capital". The idea behind this slogan is that if EACH REALTOR® would contribute the equivalency of one tank of gas to RPAC we could drive all our "points" home in Washington. In April there was a "Call to Action" again regarding "keeping the banks out of Real Estate." At the click of the mouse you were able to forward your response to your Congressman and Senator. Computers have made it so simple for us to have our voices heard. Whether answering a "Call to Action" or contributing to the Realtors Political Action Committee you are working towards protecting our industry. Remember there is always strength in numbers! Lobby Day is quickly approaching. LIBOR has invited our New York State legislators to an evening reception. This will give our members an opportunity to "meet and greet" them on a social level as a "thank you" for the support they have given us. The following day our Realtors will lobby at the State Capital for the continuing support for a Commission Escrow Act, along with other important legislative issues. RPAC needs ALL Realtors to contribute to the Realtors Political Action Committee. To date there are more than 20,000 members who have not yet made their 2007 investment in Real Estate. For every $20 contributed you are automatically entered in LIBOR's 2007 "RPAC and You on the QM2" Sweepstakes. The Grand Prize is a cruise on the world famous Queen Mary 2 valued at $5000. Second prize is a 2 night stay at Mohonk Mountain and third prize is a $750 AMEX gift cheque. Each LIBOR chapter will be holding a "Mr. Legs" contest soon. If you, or someone in your office, would like to be a contestant please contact me @516-764-6200 or Liz English @ 631-661-5100. These contests are very successful as an RPAC funding raiser and truly keep the "fun" in fundraising. Watch for more details and dates. Keep in mind that the "Grass Roots" level is where it all begins. Make it a habit to attend your chapter meetings. Also, if you have any ideas for future RPAC fundraising events, please call me, Liz or any of our RPAC Vice-Chairs: Matt Arnold, Ken Dunn, Brigitte Greene, or Sheryl Kushnick. To date we have raised $221,000 towards our goal of $407,000. If you haven't yet made a contribution, please do it now. Help us to help you. RPAC is your best investment in Real Estate.

*These LIBOR members have pledged RPAC contributions. **All contributors of $20 or more will be automatically entered into NYSAR and LIBOR Sweepstakes.

May 2007

LEGAL/GOVERNMENTAL

COUNSELOR'S COMMENTS

By Daniel S. Dornfeld, Esq.

Goldson, Nolan, Connolly, Nasis & Dornfeld, P.C. [email protected]

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The Home Equity Theft Prevention Act

By Cathleen Quinn Nolan, Esq. Homeowners whose homes are in foreclosure (or default as a result of mortgage payments being two months in arrears), and therefore, according to the New York State Legislature, in danger of being the victims of, "fraud, deception, and unfair dealing ... are vulnerable to aggressive purchasers," particularly if those owners are, "poor, elderly and financially unsophisticated..." (Section 265-1 of the Real Property Law, as amended) In order to protect these delinquent homeowners, New York State enacted legislation intended to make it more difficult for these homeowners to fall prey to unscrupulous purchasers. Pursuant to the Laws of 2006, Chapter 308, the Home Equity Theft Prevention Act (HETPA), became law under the new Section 265-a of the Real Property Law (RPL), which also amended Section 595-a of the Banking law and enacted a new Real Property Actions and Proceedings Law (RPAPL) Section 1303 regarding new requirements in foreclosure actions. These Laws went into effect on February 1, 2007 and have several serious consequences for those investors, called "Equity Purchasers," who purchase homes from owners who are in financial distress as well as for banks attempting to pursue foreclosure actions. Transactions exempt from HETPA, when buyers are not considered "Equity Purchasers" are as follows: a. When the purchaser is acquiring the property to use as a primary residence; b. When the property is transferred through a referee's deed in a foreclosure sale; c. When the sale is authorized by statute; d. When the sale is the result of a court order; e. When a spouse, parent, grandparent, child, grandchild or sibling of the delinquent homeowner or the delinquent homeowner's spouse acquires title; f. When a not-for-profit housing organization or public housing agency acquires title; g. When the purchaser is a Bone Fide Purchaser or encumbrancer for value. If the purchaser is an "Equity Purchaser," that purchaser must give the delinquent homeowner, in language boldly placed in the contract, five business days after the contract is signed by all parties to rescind the contract. This is to ensure that the delinquent homeowner has had a sufficient time to reflect on the terms of the contract before being bound by the document; in other words, to give pressured homeowners a "cooling off period" before they make what could be a serious financial blunder. If the right to rescind the contract is not given as required by the Statute, the delinquent homeowner may have the right to rescind the sale for up to two years! In addition, the "Equity Purchaser" who does not perform as required under the Statute faces liability for civil damages in the amount of $25,000.00 for each occurrence, conviction of a Class E felony and a criminal fine. Finally, failure of an "Equity Purchaser" to reconvey the property to the Delinquent Homeowner when given notice to do so could result in liability for legal fees and triple damages! In a foreclosure action, the lender is required to advise delinquent homeowners, in writing, of their rights under RPAPL Section 1303, which mandates notice be given to the delinquent homeowner, in precise statutory language, regarding assistance and information about the foreclosure process. This notice must be delivered with the Summons and Complaint! Agents who deal with investors should be aware of these new laws and advise investors accordingly. An investor who purchases from a delinquent homeowner without inserting the required 5 day right of rescission stands to lose a great deal, and the rights of the delinquent homeowner may not be waived! New York has added new meaning to "Buyer Beware."

THE REALTOR®

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Recognizing Hidden Lease Costs, Part 1

This is part of an occasional series to educate residential brokers about the pitfalls of commercial brokerage. I have spoken to a number of brokers that indicated to me that while they have had opportunities for commercial deals, they have avoided taking advantage of those opportunities because of their lack of knowledge in the area. Considering that even a modest lease can generate substantial commissions, it is an area well worth the time to gain the requisite knowledge. From the onset, I object to the use of the word "hidden" in the title of my article (as I have objected to countless tenants that so characterized these expenses to me in my capacity as representing landlords). These costs are not hidden -- they are explicitly set forth in the lease (as I would explain to the unhappy tenant) and, if the tenant did not understand the costs when they entered into the lease, then they should have hired someone that did (that's where the broker sometimes gets blamed). Despite my own objections to the title, I still went with it because it is such a compelling title (admit it -- you're riveted) and, more importantly, that is how the tenant looks at it. In commercial leasing, the broker is brought in early in the process when the parties are negotiating the essential business terms. Unfortunately for the tenant, some of the essential business terms are not considered during this phase because the broker and the tenant do not realize their importance. By the time the agreement is codified in a Lease, these business terms have already been set. As a result, the tenant ends up at the mercy of the Landlord's form lease paying a lot more for their lease than they anticipated, often blaming their broker. Some of the areas that are often not adequately considered are Loss Factor, Management Fees, Administrative Fees, Capital Expenses and Capital Reserves. While everyone realizes the importance of the rental rate, these other issues can have a substantial impact on the tenant's costs. In business, tenants usually will not enter into too many different leases during the course of their career. The tenant therefore often relies on their broker's expertise in negotiating a lease. If the broker does not adequately address these issues, they can end up with unhappy clients. The Loss Factor is the percentage of the gross area of a space is lost due to walls, elevators, and other common areas. For instance, a tenant might lease an office that contains 2,000 square feet. However, the tenant has to pay rent for its use of such items as common bathrooms, the elevators, a large, ornate lobby and the mechanical room. (As one of my clients once told a judge during trial, if the tenant is willing to get into their office suite by climbing ropes through their windows, then he would not charge the tenant for its use of the lobby, elevator and hallways). Mathematically, the loss factor is derived by dividing the common areas included by the total square footage of the building. If the landlord allocates as loss factor of say 20% for those areas, even though the tenant's suite is 2,000 square feet, they will have to pay rent for 2,500 square feet (i.e. 2,000 divided by 80%). Their rent actually went up 25% without the tenant realizing it! I have seen hundreds of leases written for buildings with substantial loss factors when no one on behalf of the tenant even inquired what the loss factor was. It is no surprise that the tenant was unhappy when they realized what their actual rent was. The tenant and their broker may have focused on what the rent was on a square foot basis, but they missed something just as important. It must be noted that there is no "right" loss factor. It depends on the size of the building common areas. A building with a large lobby will probably have a larger loss factor than one with a small one. It is also something that a landlord can manipulate fairly easily -- few tenants are going to hire architects to see that the mechanical room is as large as the landlord says. Office buildings generally have loss factors between 10-20%. When understanding what a tenant's costs are going to be, the broker and tenant must understand the concept of the loss factor. It is doubtful you will be able to get a landlord to change the loss factor they use. Using different loss factors for different tenants is an administrative nightmare. However, it may be used to garner consideration for other issues or, at the very least, it will give the tenant a more realistic expectation of their costs, which helps to avoid unhappy clients. In the next article, I will address the costs associated with the CAM (Common Area Maintenance) or BOE (Building Operating Expenses): Management Fees, Administrative Fees, Capital Expenses and Capital Reserves.

Future articles on this subject matter will be published in upcoming issues of "The REALTOR®" newspaper.

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ETHICS & RULES

ETHICS...THIS MONTH'S TOPICS

Case# 3-8: REALTORS Obligation to Disclose Dual Commission Arrangements

REALTORS® A and B were members of the same Board and Participants in the Multiple Listing Service. REALTOR® A, cooperating with REALTOR® B on REALTOR® B's listing, presented an offer to purchase signed by buyers offering the listed price, and a check for earnest money. The only contingency was a mortgage contingency, and REALTOR® A shared with REALTOR® B qualifying information about the buyers indicating there should be no problem securing a mortgage. The following day, REALTOR® B returned the offer to REALTOR® A with "REJECTED" written on it and initialed by the seller, and explained that the seller had accepted another offer secured by one of REALTOR® B's sales associates. REALTOR® A inquired about the seller's reason for rejecting the full price offer with only a mortgage contingency, and what had caused the seller to accept the other offer. REALTOR® B responded that he did not know, but with equal offers, he supposed the seller would favor the offer secured by the listing broker. Later, REALTOR® A met the seller at a social event. The seller thanked him for his efforts in connection with the recent sale of the seller's home. The seller hoped REALTOR® A understood there was nothing personal in his decision, adding that the money he saved through his "special agreement" with REALTOR® B had been the deciding factor. When REALTOR® A asked about the "special agreement," the seller explained he had signed a listing agreement for the sale of his property which authorized the submission of the listing to the Multiple Listing Service and specified a certain amount of compensation. However, the seller stated he had also signed an addendum to the listing agreement specifying that if REALTOR® B sold the listing through his own office, a percentage of the agreed compensation would be discounted to the seller's credit, resulting in lower commission payable by the seller. REALTOR® A filed a written complaint with the Board of REALTORS® against REALTOR® B, alleging a violation of Article 3. After its review of the complaint, the Grievance Committee requested that an ethics hearing be arranged. REALTOR® A, in restating his complaint to the Hearing Panel, said the REALTOR® B's failure to disclose the actual terms and conditions for compensation offered through the Board MLS resulted in concealment and misrepresentation of pertinent facts to REALTOR® A and to prospective buyers served by REALTOR® A who had, in good faith, offered to purchase the property at the listed price with only a mortgage contingency. REALTOR® A told the Hearing Panel that if he had known the facts which were not disclosed by REALTOR® B, he could not have fully and accurately informed the buyers who could have taken those facts into consideration when making their offer. As it was, said REALTOR® A, the buyers acting in good faith were deceived by facts unknown to REALTOR® A. Further, REALTOR® A said that REALTOR® B's failure to fully and accurately inform the buyers who could have taken those facts into consideration when making their offer. As it was, said REALTOR® A, the buyers acting in good faith were deceived by facts unknown to them because they were unknown to REALTOR® A. Further, REALTOR® A said that REALTOR® B's failure to fully disclose the true terms and conditions relating to compensation made it impossible to have a responsible relationship with REALTOR® B and make proper value judgments as to accepting the offer of compensation. REALTOR® B stated that it was his business what he charged and the Board of MLS could not regulate his charges for his services. If he wished to establish a dual commission charge by agreement with his client, that was his right, and there was no need or right of the Board to interfere. The Hearing Panel agreed that it was REALTOR® B's right to establish his fees and charges as he saw fit, and the Board or MLS could and would not interfere. However, the Hearing Panel noted that his complete freedom to establish charges for his services did not relieve him of his obligation to fully disclose the real terms and conditions of the compensation offered to the other Participants of the Multiple Listing Service, and did not justify his failure to disclose the dual commission arrangement. In the case of a dual commission arrangement, the listing broker must disclose not only the existence of the "special arrangement" but also must disclose, in response to an inquiry from a potential cooperating broker, the differential that would result in the total commission in a cooperative transaction. The Hearing Panel concluded that by submitting a listing to the MLS indicating that he was offering a certain amount of the compensation to cooperating brokers while other relevant terms and conditions were not disclosed to the other MLS Participants, he had concealed and misrepresented real facts and was in violation of Article 3 of the Code of Ethics.

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May 2007

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THE REALTOR®

The Ethics case published in this issue have been chosen by the 2007 Chairperson of the Professional Standards Committee, Frank Dell'Accio.

ATTENTION PROFESSIONAL AGENTS

DEAL DIED? COMMISSION LOST? COMMISSION or PRICE REDUCED?

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26

May 2007

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SERVICES DIRECTORY

BUSINESS CAREER OPPORTUNITIES

All Nations Realty...................................................718.663.2187 Century 21 Annettes ..............................................516.564.4480 Century 21 Mac Levitt............................................516.764.6200 Century 21 Metro NY Brokers Council ..................800.537.8108 Century 21 Metro-Pro ............................................516.984.5797 Century 21 Prevete Real Estate...................516.520.3838 x 161 Charles Rutenberg Realty .....................................516.575.7500 Coach REALTORS ................................................631.360.1900 Daniel Gale Sotheby's International Realty ..........888.931.9500 ERA Top Service Realty.........................................718.441.5800 EXIT Realty of NYC & LI ........................................347.624.2251 EXIT Realty Partners..............................................516.742.3948 Keystone Realty ....................................................800.390.8083 Pan American Realty Network ..............................718.848.6785 Prudential Douglas Elliman Real Estate................631.549.7401 RE/MAX of New York, Inc. ....................................800.736.2969 RE/MAX People .....................................................718.683.3700 RE/MAX Unlimited .................................................516.822.7362 Suffolk Realty Group..............................................631.244.7000 Superior Realty Group, Inc. ....................................516.393.5500 x 203 World Properties International -- Sea to Sky Realty....631.961.4626

THE REALTOR®

ENGINEERS

AC&E Home Inspection & Engineering .................631.205.1340 Federated Consultant Service ..............................800.422.4473 HouseMaster Home Inspection .............................800.805.1122

HOME & EQUIPMENT INSPECTIONS/SERVICES

AC&E Home Inspection & Engineering .................631.205.1340 Federated Consultant Service ..............................800.422.4473 HouseMaster Home Inspection .............................800.805.1122

INSURANCE/LEGAL

Jay S. Gootenberg, AHS Errors & Omissions, Home Warranties.............................................Off: 631.325.9107 Cell: 516.322.7143 Insurance Plus........................................................516.922.1200

Advertise In

MEDIA

Clover Mill Associates............................................516.568.1800 LIBOR Membership Directory ...............................631.661.9126 MLS/LIBOR -- Web Site...............................631.661.4800 x 348 mlsli.com, mlsstratus.com The Realtor Advertising .......................................516.676.6089

MEMBER BENEFITS MORTGAGES

New York State Association of REALTORS ..518.463.0300 x 229 1st Capital Home Mortgage...................................877.824.7825 Archer Capital ........................................................516.576.3232 EFI Capital .............................................................888.393.3422 United 1st Financial ................................................877.711.7301

The Publication That Reaches Over 26,000 LIBOR Members!

CONTACT...

PROMOTION SERVICES PROPERTY SALES

DSI Design Group..................................................516.676.6089 Greenthal ................................................................718.423.3130

REAL ESTATE FORECLOSURES TECHNOLOGY

CHRISTOPHER MEADOWS Tel: (516) 676-6089 · Fax: (516) 676-4769 email: [email protected]

DSI

DESIGN GROUP

Foreclosure Update................................................516.487.6491 MLS Products & Services...............................631.661.4800 x 11 MLS Tech Support Services.................................631.661.TECH

THE SERVICES DIRECTORY IS PROVIDED AS AN ADDITIONAL SERVICE. THE PUBLISHER DOES NOT ASSUME ANY LIABILITY FOR ERRORS OR OMISSIONS.

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May 2007

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THE REALTOR®

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© 2007 RE/MAX International, Inc. All rights reserved. Each Office Independently Owned and Operated

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