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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

June 26, 2012

Industry News and Trends

Hot Off the Presses: July Illinois REALTOR® Magazine
You can also find the latest Illinois REALTOR® magazine online. In this issue, we look at "The Future of MLS" and talk to industry experts about what is next for Multiple Listing Services. What else will you find?

Fannie and Freddie Offering Short Sale Help to Military Homeowners
Military homeowners with Fannie Mae or Freddie Mac mortgages will find it easier to sell their underwater homes in a short sale when they are ordered to move as part of their duty, under a federal policy change.

FHFA Sues Illinois to Block Transfer Taxes on Fannie/Freddie Properties
"The Federal Housing Finance Agency (FHFA) filed a lawsuit against the state of Illinois and several counties to shield Fannie Mae and Freddie Mac from real estate transfer taxes," the HousingWire reports. Read today's Chicago Tribune article on the issue.

Market Stats and Research

Illinois Home Sales Record Best May Numbers Since 2007
May Illinois home sales surged 22.1 percent ahead of last year while the Chicago-area broke a 49-month streak of median price declines, according to IAR's latest housing report. Statewide home sales totaled 11,984, the best May performance since 2007. Find county-by-county statistics, talking points and the latest University of Illinois forecast in Members Only Market Stats (login required). Nationally, sales and prices saw year-over-year gains. 

Upbeat Illinois May Housing Numbers Make News
IAR's housing report garnered media coverage around the state as this IARbuzz blog post shows

Legal Issues

NAR Wins $500,000 in Damages in Trademark Violation Case
NAR reports that an Illinois federal court has awarded it an injunction along with $500,000 in damages against a "website operator's willful violations of NAR's trademark rights." Learn more about NAR v. Fothergill in NAR's Legal Case Summaries.

Does the New CAM Licensing Act Apply to You? 
In the June 28 Legal Webinar, IAR Legal Counsel will discuss the new Community Association Manager’s Licensing and Disciplinary Act and rules and whether they might apply in your business practice. 

More on CAM Licensing Act in July D.R. Legal News
IAR Chief Legal Counsel Steve Bochenek covers the topic in the upcoming issue of D.R. Legal News due out next week.

Legislative & Advocacy

RVOICE in Action: Naperville and Winnetka Opt Against Mandating Sprinklers
Score two more wins for REALTORS® on the residential fire sprinkler front. Both Naperville and Winnetka have decided against adding a sprinkler requirement for new residential construction in their building codes. The village of Gurnee, however, voted to adopt this mandate by ordinance, taking away the right of the consumer to choose this as an option when constructing a home. 

Sales and Marketing

The 5 "A's" of Viral Marketing
What do acquisition and aptitude have to do with making your online marketing content go viral? IAR Fall Conference speaker Brian Copeland covers "The 5 A's of Viral Marketing" in the July Illinois REALTOR® magazine. Learn even more about growing your business and online presence at Copeland's opening session, "Viral," on Oct. 3, 2012 at the IAR Fall Conference & Expo, Oct. 2-4 at Pheasant Run Resort in St. Charles. 

Are you seeing multiple offers in your market? In the IAR LinkedIn poll, IAR members Melissa Bedolla of Mundelein and Julie Mategrano of Wheaton say yes they have seen a spike in the multiple offers. Join the discussion on the IAR LinkedIn Group.

IAR Member Benefit 
Need errors and omissions insurance?
IAR partner Capital Professional Insurance Managers, Inc. (CPIM) offers a premium discount to IAR members plus other benefits exclusive to IAR members in its comprehensive program that can be tailored to meet the needs of both small independent firms as well as larger firms. Learn more at or call 1-800-438-2746.


Special One-Time GRI Course II in Chicagoland This Summer!
Getting your GRI is even easier this year with a special opportunity for Chicago-area REALTORS® who have already completed Course I. Download this flyer to learn more about Chicagoland Course II. Bloomington GRI Courses II, III and Grad take place this fall. Get all the details at

October 2
Commercial REALTOR® Training Opportunity in St. Charles
Register now for a commercial market session, Oct. 2 at Pheasant Run Resort in St. Charles. REALTOR® Chuck Wiercinski will offer tips for identifying value and return on commercial real estate while attorney Dennis P. Lindell will discuss what you need to look for in commercial contracts. The cost is $15. 

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