3 Rule Changes on the Horizon for FMLS

Our goal at FMLS is to do all we can to make it easier for our members to do business in this challenging market.  There are three new rule changes at FMLS, all of which were designed to better match our members’ needs in a changing market.  The first two changes are slated for May 26th – look for a broadcast announcement towards the end of the month to confirm these changes.  The third rule change (Amendment to Rule 12.1) is effective immediately.

90-Day Minimum Listings No Longer a Requirement for FMLS

Effective May 26th, FMLS will allow all Exclusive Right to Sell listing agreements to be entered into the system, regardless of the number of days on the listing agreement.

While it has been a long-standing rule of FMLS to require a minimum 90-day term for all listings, FMLS is eliminating this 90-day minimum listing term in order to accommodate our members who are working with banks, other agencies or homeowners that might request a shorter or longer listing term (Rule 7.2).

Expired Listings Have 30 Days to Renew to Active Status

Effective May 26th, agents with an Expired listing will have a full 30 days to return the listing status to Active; previously, agents had only 13 days to do this.  This change has been made to help agents work with the fluctuating needs of foreclosed and bank-owned properties.  Please note that to allow for whatever type of flexibility an agent requires, agents will continue retain the option to let a listing to expire and then re-list it in the system (in order to get a new listing number assigned to the property and give it a fresh dose of exposure throughout the system), and agents are also available to extend a listing’s expiration date any time before the listing’s actual expiration (Rule 8.2).

Shortened Time Frame for Reporting New Contracts: 3 Business Days

Upon the FMLS Advisory Council’s recommendation, the FMLS Board of Directors recently voted to amend Rule 12.1 to shorten the time frame for reporting contracts to three (3) business days, from the previous time frame of seven (7) calendar days. The FMLS Advisory Council is comprised of managing brokers from various FMLS member companies.

These changes now require a listing agent to report the execution of a contract within three business days, and also require the selling agent to send the paperwork/forms to FMLS within three business days. By shortening the submission window for this paperwork, FMLS expects to maintain the most current status of all listings, better serving the needs of all FMLS members.

A complete listing of all FMLS Rules and regulations is available online at www.fmls.com. Login to www.fmls.com, click on Administrative Support, then click on Rules and Regulations. You can also also view the amended rule below:

12.1: The execution of any contract (including contingency contracts) for the sale of any property listed with FMLS shall be reported to FMLS by entry into the FMLS computer system by the listing Member within three (3) business days after the buyer and owner execute the sales contract. In addition, the selling Member shall report the execution of any such contract by filing the appropriate form with FMLS within three (3) business days after execution of such contract.

 

Networking Your Way to Success:
FMLS Education and Networking Days Recap

FMLS Members and staff kicked off the Spring selling season with a day of fun and learning at this month's FMLS Education and Networking Days.   Held on May 1st (Northeast/Duluth location) and May 8th (Main/Sandy Springs location), these days were packed with networking opportunities, seminars, food, fun, and prizes and were an overwhelming hit with the agents and brokers in attendance.

Social Networking for Real Estate Agents proved one of the most popular seminars, with agents filling the room to learn the newest ways to interact with buyers and sellers.  It’s a topic vast enough to fill a full-day seminar, but this session provided enough information for agents to decide if they are ready to move their businesses into the world of social networking.  Topics included Facebook, Twitter, Linked In, ActiveRain, and blogging.  (Be sure to check out the blogging article in this edition of the newsletter to learn more about how to set up a basic real estate blog which can grow with your business.)

The Virtual Caravan was an unprecedented opportunity for FMLS agents to get honest, constructive feedback on how others – agents, brokers, and consumers – perceive their listings.  Most were surprised at how the little things they did – or did not – include made a huge difference to others.  It was a truly eye-opening experience for everyone in attendance.

Many agents were surprised that their internet-enabled handheld device allowed them to search FMLS listings on-the-go, through the FMLS Mobile application.   For some, it was a bonus; they had no idea that it was right at the tips of their fingers.  The FMLS Round Table session provided answers to countless industry and FMLS-related questions, and offered members the opportunity to “pick-the-brains” of the panel of FMLS trainers.

Interspersed throughout the day were opportunities to meet fellow real estate professionals, enjoy snacks, and win prizes from the FMLS Store.  Next time we hope to see you there!

Blogging Part 2: Ready...Set...Practice!

Blogging has caught on with real estate professionals across the country.  It’s an easy, accessible, and (usually) free marketing avenue that keeps potential and current clients up-to-date with the world of real estate, and in touch with you.  Even better, becoming an active blogger allows you to present yourself to the public as an instant expert in your field. 

Not sure if blogging is for you?  There’s no need to commit 100% right now; why not take some time to see if blogging is the right marketing avenue for you by creating a practice blog to experiment with?  Nobody has to know about your practice blog unless you tell them, so learn the ropes with a free account.  While www.activerain.com is a favorite blogging site of many in the real estate industry, you might want to consider getting the basics down anonymously on a site like blogger.com, then moving over to www.activerain.com once you are confident blogging is the right choice for you.

Free accounts are offered at blogger.com.  There’s plenty of flexibility, and no real mistakes can be made, so jump in and experiment:

  1. Go to blogger.com and open a free account.  Once you’ve opened the account you’ll be logged into the blogger.com Dashboard.
  2. To the left of the word Dashboard you will see a link that says Create a Blog.
  3. Click that link and you’ll go to the Name Your Blog section.
  4. Since this is a just practice blog, don’t worry about the name too much; something along the lines of PracticeYourNameRealty will work just fine.

After creating a blog title you’ll need to choose a template.  A template is the layout, or format, of your blog on the computer screen. 

  • For this practice blog, use any template simply to get comfortable with the format and process of blogging; you can always go back later and switch to a different template without losing your blog content.
  • Don’t spend too much time on all the choices, simply look over the default templates available and choose.
  • Don’t be swayed by colors and fonts.  Many templates allow you to change these options at any time.  Just find a simple template that appeals to you.

Once you’ve chosen a blogger template you’ll move on to a page that says "Your Blog has been created.”  Click the Start Posting link, which then takes you to the Posting tab to start blogging. Type anything that you want (write a quick sentence, introduce yourself, tell future readers more about yourself and why you created this blog, etc.); you can delete and edit this post later.

Blog topics are limitless…just think of the sort of things you’d casually mention to a neighbor; those are the types of casual comments which work best with the tone and feel of a blog.  Check out other agents’ blogs for inspiration, or consider some of these options to get you started:

  • Show off your Just Listed or Just Sold listings with a photo, property into, DOM, etc.
  • Focus on a neighborhood or subdivision with a special feature(s): lake, country club, nature trails, playgrounds, extensive swim/tennis, bike trails, walk-to-school access, active social clubs, etc.
  • Write about a local school that’s a shining example; check the county board of education website for possibilities.
  • New shopping center coming? Going? What’s being put in their place?
  • Become the Neighborhood/Area expert with reviews of new stores, restaurants, businesses
  • Readers love Top 5 (or Top 3, or Top 7, etc.) lists.  How about The Top 5:
    • Reasons You’ll Love This Area
    • Reasons You Want Me to Be Your Realtor
    • High Schools to Consider for Strong Sports Programs/Academics/Etc.
    • Best Ice Cream Spots in Town
    • Places to Find Peace and Quiet in Our Town
    • Things to Do BEFORE You List Your Home
    • Things to Avoid Before You Apply for that New Mortgage
    • Reasons Why Going FSBO Will Actually COST You Money
    • Home Improvements that Return the Most $$$ at Closing
    • Easy Ways to Increase Curb Appeal for Less than $100
    • Exercise Trails Around Town

After you’ve entered a few posts and explored the options on blogger.com, share your new blog address with a few trusted friends or associates for their feedback.  After a week or two of practice blogging, you should know whether blogging is your newest marketing avenue.

FMLS Store Spotlight

How to Take Photos that Move Houses, by Ed Wolkis

Atlanta-based architectural photographer Ed Wolkis has written a fantastic book on real estate photography, which offers readers all the tips and tricks they would learn in a high-end photography class for a fraction of the cost.

Loaded with stunning full-color photographs of interiors, exteriors, landscapes, as well as numerous before-and-after shots, this book provides perfect examples of what works and what doesn’t work in real estate photography.  And while Wolkis’ photography skills are clearly those of a professional, he is able to skillfully explain concepts and terms in a down-to-earth manner which makes his knowledge easily accessible to all.

How to Take Photos that Move Houses is available at all FMLS stores for $34.99, far less than you would pay most photographers to take basic shots for a single listing.  Come by one of the FMLS Stores to take a peek at this fantastic book, and see if it might help you showcase your listings in their best light.

NEW! Monthly Drawing at the FMLS Stores!

Stop by the FMLS Store and drop off your business card to have a chance at next month's drawing for FMLS Store Gift Cards.  Congratulations to April's Winners :

Main:  Paula Henao, Vision Quest Realty $15; Rachel R. Douglas, Elite Real Estate Properties, $10
Northeast:  Ron Faughtenberry, Coldwell Banker, $15; Gene Chang, Chapman Hall Realtors, $10
Northwest:  Janet Maguire, Leland Realty, $15; Tammy Williams, American Real Estate Group, $10
Southside:  Mahria Clarke, Prudential Georgia Realty, $15; Grady & Linda Stone, RE/Max Lakefront, $10

All 4 FMLS Store locations are ready to serve your real estate supply needs:
Main (Sandy Springs), Northeast (Duluth), Northwest (Marietta), and Southside (Fayetteville).

 

In Other News:

New Arrival:
Real Estate Marketing Assistant 2

Put a powerful, comprehensive set of real estate marketing tools at your fingertips with Real Estate Marketing Assistant 2 (REMA2).  Win more listings, move more property & save more time with dynamic marketing designs to help sell more effectively.  This simple-to-use application makes it easy and inexpensive to publish your own flyers, brochures, postcards, envelopes, business cards, newsletters, fax forms and more.

  • Produce striking marketing designs in a few simple steps
  • Select a template and your personal profile is automatically applied to the document. Choose from over 550 professionally-designed templates to create cohesive, effective marketing materials.
  • Select photos of the property from your desktop computer, scanner, digital camera OR pull your photos from your FMLS listing and insert the image into the template.
  • Edit text (font, colors, boldface, italics, etc.) just like you would any Microsoft Office document.
  • Print your finished document on any home office computer, publish it as a PDF to send through email, or post on your website.
  • An amazingly simple way to create dynamic & effective real estate marketing flyers, brochures & more.

Available for just $34.95 at all four FMLS Stores!

 

 

Social Networking
Is Here to Stay...Join In!

 

 

Remember the song "It's a Small World"? When it comes to real estate, it really IS a small world, and social networking is an easy, fast and free way for you to find all the hidden connections in your world.

 

Not sure what social networking is? Just click on this link to watch this entertaining, 2-minute video called "Social Networking in Plain English" and you'll understand in no time at all:  www.youtube.com/watch?v=6a_KF7TYKVc .

 

Check out FMLS on Facebook.com!  Become a Fan of FMLS on Facebook.com (we have over 1,000 fans already!), and join the FMLS Group on Linked In, for extra exposure, tips, tricks, and information on our industry.

NAR: Pending Home Sales,
Affordability Rise

 

Pending home sales rose with many first-time buyers taking advantage of historically good housing affordability conditions, according to the latest report by the NATIONAL ASSOCIATION OF REALTORS ®.

 

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in March, increased 3.2 percent to 84.6 from a level of 82 in February. It is 1.1 percent higher than March 2008 when it was 83.7.

 

Lawrence Yun, NAR chief economist, says it should take a few months for the market to gain momentum.  “This increase could be the leading edge of first-time buyers responding to very favorable affordability conditions and an $8,000 tax credit, which increases buying power even more in areas where special programs allow buyers to use it as a down payment,” he says.  “We need several months of sustained growth to demonstrate a recovery in housing, which is necessary for the overall economy to turn around.”

 

Meanwhile, NAR’s Housing Affordability Index remained near record highs.   The affordability index was 166.7 in March – down from an upwardly revised record of 174.4 in February due to higher home prices in March. The index remains 30.8 percentage points higher than a year ago.

 

The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.

 

NAR President Charles McMillan says the increase in buying power is quite remarkable.  “Compared to a year ago, the typical family can pay much less in mortgage costs for the same home, or buy a better home without necessarily increasing their monthly payment,” he says. “For buyers who’ve been on the sidelines and have good jobs, the market has never looked more favorable. Homeownership has always offered immediate benefits and long-term value, but the advantages in today’s market are unique.”

 

Source: NAR Daily Real Estate News, May 4, 2009.  For the complete article visit: www.realtor.org/rmodaily.nsf/pages/News2009050401

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Ask the Trainer

1st Connection's NEW Flyer Report

Dear FMLS Trainer:

I need an easy, fast way to fill the flyer box on the front lawn of my new listings!  I don’t own Microsoft Publisher, and when I try to create a flyer in Microsoft word I wind up with wacky formatting.  Any ideas?

Fielding Flyers in Five Points

Dear Fielding,

There’s no need for Microsoft Publisher, nor for sitting down with the Microsoft Word manual.  If what you’re looking for is a simple, easy-to-read flyer that imports your FMLS listing data and photos, we’ve got your solution right in the 1st Connection system…for FREE.

The Flyer Report was recently introduced and provides FMLS members 1-click access to instant flyers to fill their listings’ flyer boxes.  To generate a flyer report, follow these steps:

  1. Run a search for the property (or properties) for which you’d like to create a flyer.
  1. From the search results page, select your desired properties by clicking in the box to the left of the FMLS number.  Note: To print flyers for multiple properties, simply check all those listings.

 

  1. From the Report Functions box, scroll down and click on Flyer Report.  The flyer will automatically generate.
  1. To print the flyer, place your cursor anywhere in the text of the flyer, and RIGHT click.  Choose Print from the menu which appears.

  1. Continue the print process as you normally would with any document.  Be sure to indicate the total number of flyers you want to print.

We hope you find this to be a speedy solution to fill that flyer box quickly!

Your FMLS Trainer

Technical Tip from the Help Desk: FMLS Maps Available Online!

The FMLS Zone/Area Map has been a staple in Brokers’ offices for years – and available for purchase in all 4 FMLS stores – but agents told us they needed access to this resource 24/7.  We’re pleased to provide the FMLS Zone Map on www.fmls.com, for easy online access.

To view the FMLS Zone Map, login to www.FMLS.com, click on Adminstrative Support , then click on FMLS Maps. Here you'll find both the FMLS Compulsory Listing Area Map and the FMLS Area Number (Zone) Map (4MB).  Please note that the FMLS Area Number (Zone) Map is an extremely detailed map (designed for online viewing) that requires a large file, so be patient while it loads in its entirety.  Once the map loads, use the Zoom button to zoom in on a section; click on the Zoom button to select this feature, and then click on the map area where you would like to zoom in.  You can click on the map to zoom in multiple times and view the map in remarkable detail.

We are ready to serve your technical needs:

Monday-Friday  9:00 am to 5:00 pm
Saturday  8:30 am to 5:00 pm
Sunday  1:00 pm to 5:00 pm

Contact FMLS Technical Support by calling 404-255-4219,
by emailing support@fmls.com,
or try 1st Support, our new online chat Help Desk Option!

Welcome New Members! Here We Grow Again...

We'd like to extend a warm welcome to the new members that joined us in the month of April.
Welcome to FMLS; we are honored to serve you!

Company Name City Broker Office Code
Alpha 1 Brokers, Inc. Alpharetta Robert J. Miller ALPA01
Apex Residential Properties, Inc. Marietta Jennifer M. Suynov AJEN01
Billy Croker Realty Cedartown Billy Croker BCRE01
Bregeth Realty, Inc. Alpharetta Khaldoon Bregeth CALP01
Distinctive Atlanta Properties, LLC Atlanta George Jacob, III DATP01
EA Realty, LLC Loganville Eric Ash EARE01
Easy Flat Fee Realty, LLC Atlanta Dana Ash EASY01
Hembree Properties Acworth Dewey Hembree HEMB01
JDO Realty Investments, LLC Atlanta James O'Donnell JDOR01
JRI Properties, LLC Covington Lorraine Jubrey JRIP01
Lifetime Investment Realty, LLC Auburn Victoria Ayeni LFTM01
Luxury Homes Atlanta, LLC Atlanta Brian Young LUXU01
Millard Bowen Realty Group Buford Bob Hartwell MBRG01
Penstock Real Estate, LLC Atlanta Joel Murovitz PENS01
Progressive Real Estate Woodstock Rosa Marquina AMOR01
SD Realty Duluth Peggy H. Gilbert SMDR01
Secure Atlanta Georgia Realty Cumming Joyce Smith SEED01
Signature Properties Alpharetta David Kilpatrick REOA01
Stop Looking Realty Lithia Springs Carole C. Carr STOP01
TRS Total Realty Services Kennesaw Art Thalacker TRSI01
U S Condo Exchange, LLC Coconut Grove Larry Hecht USCX01

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