IN THIS ISSUE
INDUSTRY NEWS AND EVENTS
- Headline News
- Commercial Day at NARdiGRAS – Saturday November 11, 2006
- 3rd Quarter RCA Report, Technology & Intelligence Briefings Mailed
- Bonus T&I Briefing Online Special Audio
- RealComm Tour to Dubai
- Help Evaluate the 2006 RCA Membership Kit
PUBLIC POLICY UPDATES
- Updates on Commercial Issues in Congress
- FDIC Places Six-Month Moratorium on Industrial Loan Company Applications and Notices
- Update: Do-Not-Fax Rules – Effective August 1, 2006
- Green Light on Health Plan Vote
- Housing Preservation Legislation Introduced
RESEARCH, RESOURCES, LEGAL
- Edgeless Cities--A Look at the Sprawling Office Sector
- Special Offer On Powerful, Affordable Call Forwarding & Voice Mail Service From New REALTOR Benefits(sm) Partner GotVMail
- New REALTOR Benefitssm Partner Offers Avis Budget Car Rental
- Developer's Defamation Lawsuit Dismissed
- Fair Housing Action Against Building Owner Reinstated
AFFILIATE NEWS
- Free Commercial Investment Course for Minorities from CCIM Institute
INDUSTRY NEWS AND EVENTS
HEADLINE NEWS
COMMERCIAL DAY AT NARDIGRAS – SATURDAY NOVEMBER 11, 2006
Commercial members have more reasons than ever to attend the REALTORS® Conference & Expo, November 10-13 in New Orleans. NEW this year is a designated Commercial Day on Saturday. Three sessions were developed by the REALTORS® Commercial Alliance especially with you in mind, including: "How To Begin Your Commercial Real Estate Career", led by Jim Gillespie, America's Premier Commercial Real Estate Coach and "121 Ways To Market Yourself And Your Commercial Business" with Bob McComb of Top Dogs TM; and "Specializing in Commercial Real Estate, Where do I Begin?" Led by Dr. Lowell "Duke" Kuehn. More programs and details are being confirmed and added to the schedule. To see the Commercial focused sessions, click on the Conference Programs by Topic link on the left side of the page and select Commercial from the drop down menu.
3RD QUARTER RCA REPORT, TECHNOLOGY & INTELLIGENCE BRIEFINGS MAILED
The third quarter RCA Report will soon be arriving in the mail. Included with the report is the T&I Briefings CD, featuring Third-Quarter 2006 guests: Jeff DeBoer, president and CEO of the prestigious Real Estate Roundtable since 1997. Jeff shares his keen insights about how terrorism affects the finance and operation of commercial real estate, as well as the major national legislative and regulatory policy issues relating to real estate and the overall economy; Scott Muldavin, CRE, CMC president of The Muldavin Company, briefs us on the outlook for real estate capital flows and pricing—and technology’s role in this arena; and lastly, Buzz McCoy, CRE president of Buzz McCoy Associates, Inc. discusses effective financing strategies for today's real estate professional.
BONUS T&I BRIEFING ONLINE SPECIAL AUDIO
Listen to the bonus audio CD sent to new members of the RCA from our web site, here .
The same thoughtful conversations with industry leaders as in the rest of our series, with a special message from the vice president of the RCA. The first interview in the bonus edition is with "America’s Commercial Real Estate Coach” Jim Gillespie who will share his strategies for leveraging commercial productivity using all of the new technologies available today. After Jim, Valarie Willis, a principal at the Tom Peters Company will help us to “re-imagine” our commercial business to effectively cope with the rapid changes we see today. And James Marrelli, Vice President of the commercial real estate division of NAR will wrap things up by briefing us on everything that NAR through the Realtors Commercial Alliance is doing for us today -- and its vision for the future. We hope you find the conversations valuable and thought provoking, let us know at < a href="mailto:rca@realtors.org">rca@realtors.org.</a>
REALCOMM TOUR TO DUBAI
Jim Young, CEO, REApplications & Producer & Co-Founder of Realcomm, invites you and a colleague to attend the 2nd annual “Best Practices” Dubai tour, taking place November 3rd-9th-2006. Dubai is the fastest growing city in the world creating a world class destination for business and tourism. Should you choose to participate you would be joining twenty-four other dynamic Commercial Real Estate visionary leaders from the US and Canada. For more information, go to http://www.realcomm.com
HELP EVALUATE THE 2006 RCA MEMBERSHIP KIT
Recently, you should have received the REALTORS® Commercial Alliance version of NAR's Membership Kit, which included a personalized membership card. We invite your feedback regarding the content and layout of this annual member communication piece. Your participation helps us better communicate benefits and services you need and reference most. Completing the survey also enters you into a drawing for a chance to <b>win a laptop, an Annual Conference registration, an e-PRO certification course, & more</b>. Deadline to complete survey is August 21st. Take the survey. Thank you for your time and participation.
PUBLIC POLICY UPDATES
UPDATES ON COMMERCIAL ISSUES IN CONGRESS
Read brief updates on current issues in Congress from NAR Regulatory and Industry Relations. The July publication (no August report due to the Congressional recess) includes updates on the Terrorism Insurance, commercial insurance, banks in real estate, leasehold depreciation and Basel II.
FDIC PLACES SIX-MONTH MORATORIUM ON INDUSTRIAL LOAN COMPANY APPLICATIONS AND NOTICES
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) approved by notational vote a six-month moratorium on applications for deposit insurance by <b>Industrial Loan Companies (ILCs)</b>, as well as on notices of change in bank control for existing ILCs. The FDIC will not make any final decisions or accept any future applications for deposit insurance or notices of change in control for ILCs during this period.
NAR President, Tom Stevens, provided testimony in early July, 2006, urging Congress to consider tightening the loophole that permits commercial firms to control federally insured banks. Stevens explained, “When commercial firms are allowed to engage in banking, the bank’s commercial parent runs the risk of using the bank to further the corporate objectives of the company, creating an inherent and irreconcilable conflict of interest.”
The FDIC put the moratorium in place to provide time to assess developments in the ILC industry, to determine if any emerging safety and soundness or policy issues exist involving ILCs, and to evaluate whether statutory, regulatory or policy changes need to be made in the oversight of these charters. The moratorium also allows the agency time to further evaluate the various issues, facts and arguments raised in connection with the ILC industry, and to assess whether statutory or regulatory changes or revised standards and procedures for ILC applications and supervision are needed to protect the deposit insurance fund. <p>
The moratorium expires on January 31, 2007. Learn more. <p>
More on Stevens' comments.
UPDATE: DO-NOT-FAX RULES – EFFECTIVE AUGUST 1, 2006
On May 3, 2006 the Federal Communications Commission adopted a final rule for determining when faxed advertisements may be sent within an established business relationship (EBR). The rule implements changes made by the <b>Junk Fax Prevention Act </b>that was enacted in July 2005. The EBR exemption relieves fax senders from obtaining prior permission from a recipient in order to fax an unsolicited advertisement, as long as an opt-out notice and opportunity to opt-out are provided to fax recipients. Nonprofits will not have to first obtain a member's permission in order to send faxes promoting conferences, publications, or membership solicitations, for example. The new rules will become effective on August 1, 2006.
GREEN LIGHT ON HEALTH PLAN VOTE
The U.S. Senate leader is ready to consider NAR-backed small business health plan legislation on the floor again this session. The bill, which would enable small businesses to band together to negotiate affordable rates, narrowly lost a procedural vote this spring that would have allowed it to come up for debate. In a conversation with NAR President Thomas M. Stevens, Majority Leader Bill Frist (R-Tenn) said he is willing to bring the bill onto the floor again if its backers secure at least 60 senators who want to debate the measure. That's doable, say NAR analysts. Bill sponsor Michael Enzi (R-Wyo.) has been talking with senators interested in a compromise about outstanding issues such as coverage mandates. At the same time, NAR is working to keep pressure on the Senate by gathering signatures for a petition that calls on it to pass the measure without delay. The House has already passed its own version of the legislation. To sign the petition and to learn more about "The Health Insurance Marketplace Modernization and Affordability Act of 2005" (S. 1955), click here.
HOUSING PRESERVATION LEGISLATION INTRODUCED
Sens. Gordon Smith (R-Ore.) and Chuck Schumer (D-N.Y.) have introduced legislation, the "Affordable Housing Preservation Act of 2006," S. 3616, to reduce the tax penalty facing owners who sell their federally subsidized multifamily properties. The legislation seeks to balance longstanding owner concerns over tax hurdles to property sales, which stem from a 25 percent depreciation recapture tax that many owners are unable to pay from sales proceeds, while preserving affordability, by requiring owners to sell to buyers who commit to preserving project affordability. A companion bill, H.R. 3715, has been introduced in the House by Reps. Jim Ramstad (R-Minn.) and Ben Cardin (D-Md.). For more info, CONTACT: <a href="mailto:lgoold@realtors.org">Linda Goold, </a> 202/383-1083.
RESEARCH, RESOURCES, LEGAL
EDGELESS CITIES--A LOOK AT THE SPRAWLING OFFICE SECTOR
Office building development is sprawling into suburban areas of the 13 largest U.S. office markets -- Atlanta, Boston, Chicago, Dallas, Denver, Detroit, Houston, Los Angeles, Miami, New York, Philadelphia, San Francisco, and Washington, D.C., a study from the National Center for Real Estate Research shows. Known as "edgeless cities," these scattered clusters of office buildings outside of the city center create opportunities as well as stress. To learn more about the opportunities they create, click here.
SPECIAL OFFER ON POWERFUL, AFFORDABLE CALL FORWARDING & VOICE MAIL SERVICE FROM NEW REALTOR BENEFITS(SM) PARTNER GOTVMAIL
NAR has announced that GotVMail Communications, provider of a powerful telephone call forwarding, voice messaging, and fax-on-demand service, is the newest partner in its REALTOR Benefits(sm) Program. Through the agreement, NAR members and Association staff who sign up for a GotVMail VirtualOne account will receive 400 free minutes of service. Plus, as an added benefit, GotVMail will waive the activation fee for a limited time—a combined value of nearly $50. GotVMail’s VirtualOne service allows on-the-go real estate professionals to receive calls wherever they are – in the office, the car, at a property – and remain in touch with clients and prospects. The VirtualOne system offers all the functionality of a large corporate phone system with plans starting at just $9.95 a month. Learn more, or call 1-800-820-8210 and mention your NAR membership.
NEW REALTOR BENEFITS<SUP>SM</SUP> PARTNER OFFERS AVIS BUDGET CAR RENTAL
NAR welcomes Avis Budget Car Rental, LLC, the world's largest general-use car rental company, to the REALTOR Benefits(sm) Program. Avis, a leading supplier to the business travel industry, and Budget, a top brand in the leisure travel market, now offer NAR members and REALTOR® Association staff in the United States and Canada special rental rates, discounts, and added-value offers on car rental services. The REALTOR Benefits<sup>sm</sup> Program is pleased to provide rental car choices through the addition of these top brands. <p> For more information visit http://www.avis.com/nar and use discount code: # A009700 or http://www.budget.com/nar and use discount code # Y490600.
DEVELOPER'S DEFAMATION LAWSUIT DISMISSED
A defamation lawsuit by a developer who was criticized by a resident and the developer's counter claim against the resident were dismissed by the Supreme Court of Nassau County, N.Y. The developer, who the court said met the definition of a limited public figure, failed to show that the resident acted with malice. Read a summary of the case in The Letter of the Law, NAR's online legal newsletter.
FAIR HOUSING ACTION AGAINST BUILDING OWNER REINSTATED
The U.S. Court of Appeals for the Second Circuit reinstated allegations that a New York apartment building owner was vicariously liable for violations of the federal Fair Housing Act based on its property manager's actions related to prospective tenants. Read a summary of the case in The Letter of the Law, NAR's online legal newsletter.
AFFILIATE NEWS
FREE COMMERCIAL INVESTMENT COURSE FOR MINORITIES FROM CCIM INSTITUTE
An introductory course in commercial real estate investment will be offered to minority real estate professionals in the greater Chicago metro area Sept. 28-29 through CCIM Institute, an affiliate of the NATIONAL ASSOCIATION OF REALTORS®.
The course, Introduction to Commercial Investment Real Estate, is offered through the organization's Cultural Diversity Education Program, which is designed to bolster representation by minorities within the industry. Candidates accepted for the course will be admitted free of charge, but will be required to pay a $30 application fee. Applications will be accepted up to Sept. 18.
The course will be held from 8:30 a.m. to 5 p.m. both days at the University Center, 525 S. State Street, Chicago, IL 60605. It will be taught by Byron Smith, CCIM, president of Metropolitan Realty Group of Vienna, Va.
If you're interested in the Cultural Diversity Education Program, contact Gail Giles, CCIM Institute Director of Customer Services, or visit the program Web site.
Report compiled by Bobbie Albrecht, balbrecht@realtors.org, 312/329-8464.
QUESTIONS on this report? Visit the INS FAQ and online feedback area on REALTOR.org. Click here.
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