Illinois Association of Realtors

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Illinois REALTOR® Weekly Connection

News and resources for Illinois REALTORS®

November 27, 2012

Industry News & Trends

REALTOR® Donations to Sandy Victims Continue to Grow
With a $25,000 donation, the Mainstreet Organization of REALTORS® is the latest Illinois REALTOR® organization to help with storm relief for victims in New York and New Jersey. Find an updated list of REALTOR® organizations in Illinois which have donated.  

Illinois REALTOR® Wins NAR Commercial Award
Congratulations to REALTOR® Deena Zimmerman, with Jameson Commercial Real Estate in Chicago, who won a 2012 National Commercial Award for distinguishing herself in commercial real estate.

Trend: Higher Home Prices in U.S.
Two new reports point to improving U.S. home prices, HousingWire reports today. The latest S&P/Case-Shiller and Lender Processing Services (LPS) reports show a 3.6 percent increase in overall home prices. 

IRS: Standard Mileage Rate Increases 1 Cent Per Mile in 2013
Beginning Jan. 1, 2013, the new mileage rates are 56.5 cents per mile for business miles driven, 24 cents per mile driven for medical or moving purposes and 14 cents per mile driven in service of charitable organizations, according to the Internal Revenue Service.

Education & Training

Still Time to Complete REALTORS® Code of Ethics Training by Dec. 31
All REALTORS® must complete 2.5 hours of Code of Ethics training within given four-year cycles according to NAR policy. The current cycle ends Dec. 31, 2012. 

New Online CE Courses Available
Find the new continuing education courses on IAR’s website under the Hondros Learning link.  All courses are a combination of video, audio and text-based learning. Each course is approved by the state of Illinois for three hours of elective credit and the cost is $29.  

IAR Accepting Applications for Leadership Development Program
The application deadline is Dec. 28.  If you feel you possess the skills, aptitude, interest and motivation to become a leader, this program is for you. Click here for more information

Sales and Marketing

NAR: Commercial Vacancies Decline: Rents Rise
Vacancy rates are expected to decline in all sectors of the commercial real estate market over the next four quarters while rents will increase, according to NAR's latest commercial real estate forecast. The average apartment rent is expected to increase 4.1 percent this year and climb another 4.6 percent in 2013. 

Tips for Breaking Into the Commercial Market
If you are a residential agent thinking about breaking into commercial real estate, David J. Murphy, a presenter at the NAR REALTORS® Conference, offers some advice. One tip: Become familiar with the commercial properties in your neighborhood and scout out some that you might be able to sell.

Legislative & Advocacy

Illinois Legislators Return to Springfield for Veto Session
The Illinois General Assembly convenes Nov. 27-29 and Dec. 4-6 for the legislative veto session. Watch your email inbox on Friday for a recap of the first week's highlights in State Capitol Report. Looking ahead: A lame duck session will be held Jan. 3-8 with the new Illinois General Assembly to be sworn in on Jan. 9.

Help Spread the Correct Information About 3.8% Tax
Getting questions from your clients about the 3.8 percent surtax scheduled to take effect in 2013? NAR's HouseLogic site has posted an article on the topic, "Misunderstood 3.8% Tax Hits Few Sellers Next Year," that you can share through email, Facebook or Twitter.


December 31
The Code of Ethics quadrennial training cycle ends Dec. 31. Learn more about training requirements

January 14
Save the Date! IAR is sponsoring an Instructor Course Development Workshop on Jan. 14 at three locations including Springfield, Downers Grove and Arlington Heights. Online registration coming soon.

January 16
The Three Rivers Association of REALTORS® YPN is hosting an iPad training seminar, Tablet Productivity 101 & 103, at its Joliet office. Find registration details.

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