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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

August 21, 2012

Industry News and Trends

Chiles to Represent REALTORS® on State Radon Panel
IAR Treasurer Phil Chiles, a broker-associate with the Real Estate Group in Springfield, has been named to represent Illinois REALTORS® on a panel charged with making recommendations on how to implement the state’s new Radon Resistant Construction Act. Read more.

10 Things You Need to Know About the 3.8% Tax
NAR has created the top 10 takeaways you and your clients need to know about the 3.8 percent tax included in the federal health care reform measure. Here's No. 1: When you add up all of your income from every possible source, and that total is less than $200,000 ($250,000 on a joint tax return), you will not be subject to this tax. Click here for the other nine.

Final Week to Win a Free Registration to IAR's Fall Conference
Congratulations Melissa Betty (@ReMaxerMBetty) with Re/Max Professionals in Springfield, on winning a free registration to IAR's Fall Conference & Expo. Her tweet last week: 

"#iarcon the main benefit I get from being an IAR member is the knowledge and skills to succeed in real estate! I am proud to be a IAR member."

This week we're giving away one more free registration and you could be the winner. Just tell us on twitter the #1 benefit you get from being an IAR member. Be sure to use the hashtag #iarcon in your tweet. Be sure to follow @ILREALTOR and #iarcon on twitter. See promotion details.

Legislative & Advocacy

REALTORS® Oppose Using Eminent Domain to Acquire Underwater Mortgages
Chicago REALTORS® put members of a Chicago City Council committee on notice that REALTORS® are against any proposal that would use eminent domain to acquire mortgages on underwater properties. IAR local Government Affairs Director Brian Bernardoni told the committee such a policy could end up costing potential homeowners more money in lending costs and interest. Read more

REALTORS® Back Zoning Fix in Lake County Affecting Lending, Property Sales
The free transfer of property is a top concern for Illinois REALTORS®, and a current example of how the IAR local Government Affairs Director (GAD) program serves as a watchdog on this issue taking shape in Lake County’s Winthrop Harbor community.

REALTORS® Running for Office Take Community Service to the Next Level
More than 20 Illinois REALTORS® gained valuable political campaign training recently from a program developed by NAR and IAR on the basics of running a successful campaign. "REALTORS® and community service go hand-in-hand and here we have IAR members who want to take their spirit of community service to another level and run for public office. I commend them for giving back to their local communities and their desire to create better communities for the people who live in them," said Gary Clayton, IAR CEO. Read more in the IARbuzz blog.

Market Stats and Research

Coming Wednesday: Illinois July Home Sales Report
IAR will release July Illinois housing statistics Wednesday and as an IAR member, you can access county-by-county statistics, talking points on the market and the latest University of Illinois forecast in Members Only Market Stats (login required). 

Report: Multi-Family Boom Will Bring Homeownership Rebound
A future side effect of today's building boom of multi-family units? Rising rents that will eventually outpace the cost of buying, driving more people to opt for homeownership, according to a UCLA report, "Rebuilding the Housing Economy." 

Legal Issues

New Law Clarifies Advertising Section 
Amendments to the Illinois Real Estate License Act (the Act) were signed into law by Gov. Quinn on Aug. 17. "Among the changes: a clarification to the advertising provisions in Section 10-30(g) of the Act to provide that the requirement for the managing broker to be listed in all advertisements does NOT apply to real estate "for sale" or other similar signs." Learn more about this IAR-supported legislation in the IAR Action Center.

CAM Licensing and Other Legal Hot Topics
If you missed the Aug. 16 IAR Legal Webinar on Community Association Manager (CAM) licensing, property management and license law issues, you can now download a recording of the one-hour webinar (member login required).

Sales and Marketing

Stand Out from the Crowd with a Master of Real Estate Degree
Differentiate yourself by earning an online master's degree from REALTOR® University. This 36 credit hour, 12 course (minimum) graduate level program will give you skills that you can immediately apply to your day-to-day career. Learn more about the Master of Real Estate program and scholarship assistance

Residential Leasing - Hot CE Topic at the IAR Fall Conference & Expo
There's just under 17 days to register for just $125 for the IAR Fall Conference & Expo. You can get up to 6 hours of CE for no extra cost! See the full speaker line-up and register today

Four Reasons to Buy Now
Share this with your buyers. USA Today columnist John Waggoner highlights some of the reasons why now is a good time to buy a home including the fact that its cheaper than renting in many major metro markets.  

You May Already Have GRI Credit for Course I!
If you took an IAR transition course (not proficiency), 30-hour post-license or one of these 30+ Equivalency Courses, you are on your way to getting your GRI! Fall GRI course registration is now open.

Understand Your Market with
Did you know that 77 percent of recent Illinois buyers were married, 15 percent were unmarried and the rest had never been married? Become an expert on your market with, a project of IAR that aims to better understand the opinions and motivations of homebuyers across the state. 


October 2
Commercial Training Opportunity in St. Charles. This special program at Pheasant Run Resort features sessions on identifying value and return on investment, key points to look for in commercial contracts and legal analysis and due diligence recommended in commercial real estate. Register now, the cost is $15

October 8-12
CIPS Institute in Chicago. Register for this Certified International Property Specialist (CIPS) designation course and learn more about global markets and transactions. Taking the full Institute fulfills the classroom requirements for the CIPS designation.

October 10-11
National Forum on Workforce Housing: Bring Workers Home in Chicago. This two-day event features a workforce housing forum and an employer-assisted housing class. Learn more and register.

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