October 2002 - CBR Announcements

Columbus Board of Realtors®
October Announcements

IRS says Seller downpayment contributions are NOT deductible
And the award goes to IN CONTRACT magazine!
Resumes for CBR Director being taken
2003 Committee Selection Form
Million Dollar Sales Club Award
Do NOT attach your PIN # to your SuperKey
C/I Standard Forms Revised
CBR Standard forms available On-line in auto-fill format
Homeowners can learn how to reduce their energy bills through
Home Weatherization Assistance Program
OAR President's Sales Club

IRS says Seller downpayment contributions are NOT deductible
   We have nonprofit gift charities in the Columbus area which provide a valuable affordable housing service. The nonprofits help homebuyers get in the door by providing them with grants of up to 6 percent of a home's purchase price to be used for a downpayment or closing costs.
   The grant money comes from a pool of funds that is replenished by homesellers who usually contribute an amount equal to the grant paid to the buyer who purchases their home. Homesellers also pay the nonprofits a service fee that typically
is about 1 percent of the homes' sale price.
   Understand that it is this service fee, not the seller's
contribution to the gift funds pool that potientially could be a tax write-off, but only for those sellers whose profit on a home sale exceeds the federal capital gains tax exclusion of $250,000 for singles or $500,000 for married couples, subject to certain rules.

And the award goes to IN CONTRACT magazine!
Our own IN CONTRACT magazine was awarded the Certificate of Merit by the Ohio
Society of Association Executives.The IN CONTRACT was one of two publications recognized out of 22 entries.

Resumes for CBR Director being taken
As noticed in the September issue of the In Contract magazine, CBR is now accepting resumes for those interested in running for a seat on the CBR Board of Directors. To be considered, please submit a resume and photograph to Kathy Elliott, 2700 Airport Drive, Columbus 43219.

2003 Committee Selection Form
Serving on one of CBR's 20+ committees provides you with the opportunity to network with other Realtors®, provide input on your association services and/or give something back to your industry. You'll find the 2003 Committee registration form inserted into this issue of the magazine. Please consider serving on one of the committees next year.Click here for the registration form.

Million Dollar Sales Club Award
  The deadline to apply for the CBR $1, $5, $10 or $25 Million Dollar Club award
is November 5. The sales award year is November 1, 2001 through October 31, 2002.
Remember, in order to qualify this year, you must have fulfilled the service requirement which includes serving on a CBR committee (and meeting its attendance requirement) or serving as an officer in a real estate related organization.
   When submitting your application...
Closings PRIOR to Sept.1, 2000... you'll need copies of your name highlighted on HUD listing contract (if listing credit), and/or purchase contract (if sales credit).
  Closings ON or AFTER Sept.1, 2000... you'll need copies of your name highlighted on HUD listing contract, and a completed Sales Certification Form, signed by you and the Settlement Agent.
It makes no difference if the listing agent(s) and selling agent(s) use the same form! You can use separate forms if you wish! Click here for rules and application forms.

Do NOT attach your PIN # to your SuperKey
  Please remember that you breach the security of the KeyBox system by affixing your private PIN # to your SuperKey. If your SuperKey is lost or stolen, this presents a problem for everyone using the system.
   Over the summer, an electronic SuperKey belonging to a member of another nearby Board was stolen. The agent's PIN was attached to the SuperKey which meant that until that SuperKey's next required update, the person who stole the SuperKey could have gained access to properties having electronic KeyBoxes in that Board's system. The person who stole the SuperKey placed threatening phone calls to the owner of the SuperKey and other female real estate agents in that area. Although the police were able to trace the phone calls well enough to identify the man they believed to be the thief, they were not able to recover the SuperKey and therefore did not have enough proof to take action. However, after contacting the man in question, the phone calls stopped. And no properties were accessed with the stolen SuperKey.
  Although nothing more serious than the threatening phone calls resulted from this incident, it serves as a good reminder to never keep your PIN # with the SuperKey.

C/I Standard Forms Revised
Three new C/I forms have been recently revised and approved:
  • C/I Exchange Contract
  • Exclusive Buyer Representation Agreement
  • Buyer's Request to Remedy Unsatisfactory Conditions
  These forms will be available in early October through the CBR Member Service Center (614) 475-4000. They will also be available in our on-line auto-fill forms package available through Professional Computer Forms.
  Any language deviation from a CBR standard form must be printed in ALL CAPS and ALL BOLD. CBR standard forms (purchase contract, listing contract, etc.) have been approved by both the Columbus Board of REALTORS® and the Columbus Bar Association (CBA). These forms have been developed to assist you in your business. Use of standard contracts by the majority of our members is a tremendous benefit as this reduces your time and liability.

Members may alter or modify CBR forms, however
  ANY deviations in the standard form MUST be printed in
    • 9 point text or larger
    • ALL CAPS
    • BOLD
    • deleted language must remain with strike outs
  The statement ‘Adopted by the Columbus Board of REALTORS® and by the Columbus Bar Association' and the REALTOR® and/or CBA logos may not appear on the form if these rules are not observed. This is necessary so that all parties understand that there is a change to the language to which they are accustomed.
  The privilege of using the CBR standard forms may be removed if a member is found in violation of this rule.

CBR Standard forms available On-line in auto-fill format
The CBR standard forms (purchase contract, Exclusive Right to Sell, etc.) are now available in an on-line package through Professional Computer Forms (PCF). Although the MLS forms are not yet included at this time, they will be later this fall. If you purchase theprogram now, the MLS forms will also be included (at no additional charge) when they become available.
You have the option of purchasing an on-line version or desktop software (single user & multi-user office versions are available). You can demo the program for one day before you purchase. In order to access the forms, you will need to login using your fullname and real estate license number.

Homeowners can learn how to reduce their energy bills through Home Weatherization Assistance Program
  The Columbus Metropolitan Area Community Action Organization (CMACAO) has a Home Weatherization Assistance program to help low- to moderate-income households in Columbus and Franklin County reduce their energy bills by offering services that include:
• Insulating the attic and, possibly, exterior walls
• Insulating water heaters, ducts, pipes and floors
• Performing efficiency and safety tests, then offering recommendations for heating unit maintenance
• Providing consumer tips on ways to conserve energy.
  The program is available to both homeowners and renters. To apply for this free assistance, applicants must submit an application and provide current documentation of your total annual household income. Renters will also need to provide some information about the owner of the property.
  For more information on guidelines or to get an application, call CMACAO at 614-258-4485. Or you can visit CMACAO's office at 1300 Memory Lane North from 8:00 a.m. to 3:00 p.m.

OAR President's Sales Club
  Congratulations to 392 CBR members who received one of four Ohio Association of Realtors® President's Sales Club Awards this year. Four levels of accomplishments were recognized. For a complete list of award winners, click here.
Pinnacle of Performance Award - 31 CBR members
   Award of Excellence - 29 CBR members
   Award of Distinction - 125 CBR members
   Award of Achievement - 207 CBR members