FOCUS The Presidential Election and Real Estate®®

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magazine

WisconsinReal estateOctober 2012 Vol. 29 No. 1A PublicAtiON Of the WiscONsiN ReAltORs® AssOciAtiON

Final Stretch SuccessAs we start Q4, are you ready?

Credit Score HitOuch! clarity on mortgage eligibility.

Thompson Endorsementthe WRA’s official endorsement.

Time to VoteWhere will you be on November 6?

Whether you need More Visibility, More Training or More Business, RE/MAX has the solution.

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Find the solution for your business.

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Visit JoinREMAX.comor call 800.878.8138.

North CentralHome of the Best Agents®

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4 Time to voteWhy both voting and lobbying matter.

8 Meet Renny DiedrichA word from your new 2012-2013 WRA chairman.

14 Wanna text?Pointers to consider b4 picking up ur phone.

16 Fight nicebe in the know about ReAltOR® mediation and arbitration.

20 credit score hitA finance refresher on short sales, bankruptcies and more.

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Realtors

Presidential Election

HOW THE

COULD AFFECT REALTORS®

Cover Storyfor ReAltORs® and the real estate industry as a whole, the issues at stake in today’s market, such as foreclosure policy and the MiD, make this presidential election vital to housing. Where will you be on November 6? see the full story on page 10.

COnTEnTSOctober 2012 | Vol. 29, No. 1

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10Convention Recaplast month’s annual convention kicked off the 2013 fiscal year for the association. from a convention-wide Packer party to workshops to golf and beyond, more than 800 ReAltORs® gathered for fun, learning and networking!

View pages 5-8 for a post-convention wrap-up of convention sponsors, photos from the event, newly installed officers, and a message from your new chairman Renny Diedrich.

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28 Thompson endorsementWhy the WRA endorsed former governor tommy thompson for u.s. senate.

30 We’re ready!the new ReAltOR® in the community magazine column wants to feature you.

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A MessAge froM the President

When all the ads are done, all the speeches have stopped and all the polling has ceased, elections always

end with you standing in the voting booth and making a decision. Or at least that’s how elections should end. If you choose not to participate in the electoral process, for whatever reason, you have forfeited not only your future to others, but also your right to complain about the outcome or the subsequent decisions made by the winners.

But based on what we know and what you tell us in surveys, REALTORS® vote in large numbers and that’s good, particularly these days, and particularly this November.

In November, the choices for Wisconsin and the country couldn’t be clearer. The two main political parties have worked very hard to emphasize their dissimilar approaches to governing and to the issues of our day. And with the emphasis of this election on jobs and the economy, the issues couldn’t be more relevant to the real estate industry.

One of the main reasons the WRA exists is to actively, and successfully, engage in the public policy debates on issues related to jobs and the economy; issues that directly and indirectly impact homeowners, property owners and our members. The process of doing this starts with elections because that’s where public policy decision-makers are chosen.

There are some who would argue that politics and campaigns are too messy, too complex, too risky, too confrontational and too ugly, and therefore the WRA should not get involved. They argue we should just let others decide elections and then lobby those who win. Well, that’s simply a surefire recipe for losing important legislative issues.

Successful organizations — be they REALTOR® organizations at the federal,

state and local levels; or teachers, or builders, or bankers, or government employees, or environmentalists or farmers, you name it — choose candidates to support because that is where successful lobbying begins. Effective lobbying requires effective political involvement because politics and policy are two sides of the same coin.

The WRA’s legislative success is closely tied to our political success. But it’s important to note that candidates earn their REALTOR® support based on issues. New candidates without voting records are interviewed or asked to fill out questionnaires so we get an idea on where they stand on our issues. Incumbents running for re-election or another office have voting records and actions from which we can judge their support for our issues. Because issues drive our support, we have a long history of supporting candidates of both parties and have enjoyed bipartisan support on our issues after the elections.

Our lobbying is also enhanced by the issues we discuss with the public. The Wisconsin Homeowners Alliance communicates with the general public through grassroots efforts, including broadcast advertisements, direct mail and the like, directly and

through other organizations, to raise awareness of public policy issues affecting Wisconsin property owners.

So are these issues worth all our political and lobbying efforts? You bet. Do you know why the state doesn’t require a lawyer at every real estate closing? Because our political and lobbying efforts helped to defeat that requirement. Do you know why you are not legally liable for intentional misrepresentations made by any third party in a transaction — even after a court said you are? Because our political and lobbying efforts rewrote the law. Do you know why we have meaningful fair housing laws, balanced land use planning, workable eminent domain laws, appraiser and home inspection regulations, rent control prohibitions, agency and buyer-agency laws, historic preservation laws and the number two-ranked graduate university real estate program in the nation? It’s all because we supported candidates that supported us on these issues.

The WRA voter guide, which you will receive closer to Election Day, presents those candidates on the November ballot that we believe deserve your support, based on real estate-related issues. When you are in that voting booth, you may decide to vote for candidates based on other issues, and that’s your choice. Our voter guide is based on REALTOR® issues for your consideration when making your final decision.

Regardless of the basis on which you cast your vote, the important thing is to decide and act. It’s time to vote.

Time to Vote

by Mike Theo

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Editorial Staff:Publisher: Michael theoeditor: lauren bizoriksenior Designer: Joe leschisinAdvertising: Robert uhrina

WRA Executive Committee:Renny Diedrich, chairmansteve lane, chairman-electDan Kruse, treasurerPaul schieldt, Vice PresidentPeter sveum, Vice PresidentK.c. Maurer, Vice Presidenterik sjowall, Vice President

Contact Information:4801 forest Run Rd., suite 201Madison, Wi, 53704-7337608-241-2047 • 800-279-1972e-mail: editor@wra.org website: www.wra.org

POSTMASTER: please send address changes to the WiscONsiN ReAltORs® AssOciAtiON, 4801 forest Run Rd., ste. 201, Madison Wi 53704-7337.

Wisconsin Real Estate Magazine™ is published by the WiscONsiN ReAltORs® AssOciAtiON. trademark issued pursuant to Wisconsin state statute; federal trademark is pending.

Wisconsin Real Estate Magazine, usPs 597-850, issN 1548-0526, is published monthly by the WiscONsiN ReAltORs® AssOciAtiON, 4801 forest Run Road, ste. 201, Madison, Wi 53704. Periodical postage paid in Madison, Wi and additional mailing offices. An annual subscription rate of $5 is included in membership dues and a copy is mailed to every paid ReAltOR® and affiliate member of the associa-tion. Nonmember subscription rate: $60. Permission to reprint or quote any material from this issue is hereby granted, provided the Wisconsin Real Estate Magazine is given proper credit in all articles or com-mentaries, and the WiscONsiN ReAltORs® AssOciAtiON is provided with a copy of any reprint. Advertising of third party products and services herein does not imply endorsement by the WRA unless spe-cifically stated. furthermore, the WRA does not endorse, approve, or otherwise warrant the accuracy or legality of any information or content contained in advertisements. Any questions regarding advertising policies should be directed toward the editor.

magazine

WisconsinReal estate 2012 WRA Awards CRS Of ThE YEAReunice beekman — house to home Properties, llc

ChAIRMAn’S CITATIOn AWARDstate Representative Robin Vos

LIfETIME AChIEvEMEnT AWARDOtto bytof — coldwell banker the Real estate Group

InSTRuCTOR Of ThE YEARtracy Rucka — Director of Professional standards and Practices, Wisconsin ReAltORs® Association DISTInguIShED SERvICE AWARD RECIPIEnTS• Rob Keefe — WhR employee Relocation• barb McGill — Greater Milwaukee Association of

ReAltORs®• Della Rancourt — education Director, Wisconsin

ReAltORs® Association

• American home shield• Amerispec® home inspection

service • Associated bank • bella Vita Ristorante• bergstrom• centralized showing service • century 21 Real estate llc • chase • chula Vista theme Resort• coldwell banker the Real estate

Group, inc.• commercial Association of

ReAltORs® Wisconsin • computer system innovations, inc. • community first credit union• copperleaf boutique hotel & spa• Dee sign company • Diverse solutions• emmons business interiors• eXit Realty corp.• fairway independent Mortgage

corp. • first American title insurance

company• first Weber Group• Godfrey & Kahn s.c.• Greater Milwaukee Association of

ReAltORs® • herrling clark law firm, ltD• hMs home Warranty• homefinder.com

• huD (u.s. Department of housing and urban Development)

• hYs Marketing Products • insphere insurance solutions • integrity home sales, inc. • Johnson bank • lake of the torches Resort casino • lasaii• Magnets usA® • Mayfair title corporation • M&i, a part of bMO financial

Group• Mls, inc.• my short track• NeW title services, inc.• Oakley sign company • Office supplies 2u• the Osthoff Resort• Pearl insurance • Pillar to Post • Platinum Printing and Packaging • Preferred title, llc • Primelending, A Plains capital

company • Public Opinion strategies • R & s Marketing• Radisson Paper Valley hotel• ReAltORs® Association of

Northeast Wisconsin • Re/MAX North central • Reforms, llc • ReGit, inc.

• Royle Printing• sentrilock, llc • showhomes® southeast

Wisconsin • showingtime • silpada Designs• silver stone Mortgage • suPRA GsP • teuteberg, inc. • travelers• universal home Protection• u.s. cellular • Waterstone Mortgage corp.• Wells fargo home Mortgage• WheDA • Wisconsin Association of home

inspectors, inc™ (WAhi) • Wisconsin bank and trust• Wisconsin cRs chapter • Wisconsin inspection consultants• Wisconsin legal blank Printing

& forms• Women’s council of ReAltORs® • Wisconsin sign ii/Wisign Photo

llc• WRA.org Mobile Website• WRA Real estate school• WRA Real estate store

2012 WRA Convention Sponsors and Exhibitors

A special “thank you” to all the businesses that made it happen

We want to take the time to say thank you to each and every business that made the 2012 WRA convention: Mission Possible a huge success. We look forward to the continued success of convention and can’t wait to see everyone in 2013 at the Kalahari Resort in Wisconsin Dells on september 15-16, 2013.

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Over 800 Wisconsin ReAltORs® attended last month’s annual convention and participated in networking opportunities, attended workshops and classes, explored exhibits, and felt inspired by keynote speakers. Oh, convention attendees had fun, too! With Day 1 falling on Packer sunday, ReAltORs® attended the convention-wide Packer Party, filled with snacks, beer and a raffle for an autographed Aaron Rodgers football. At Opening session, speaker Greg bennick

delivered his keynote presentation and juggling routine, and former Wisconsin governor tommy thompson made a special guest appearance. tim Diedrich installed his wife Renny as the 2012-2013 WRA chairman of the board at the elegant chairman’s installation Dinner. ReAltORs® partied and played games at “connections carnival” on Day 1 and rocked out to the Grey Matter Mechanics band on Day 2 at the “linkedin After hours” party. And on the last day, speaker sarah Michel shared her networking address at General session. convention 2012 was a great three days of learning, networking and fun! thanks to all who attended!

2012convenTion Recap

PhOtOs bY lAuReN bizORiK

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Statewide Company DirectorsJoyce bytof .........................................coldwell banker the Real estate GroupJohn horning ............................................................. shorewest, ReAltORs®Roger Rushman ................................................ first Weber Group, Realtors®

Regional Company Directorschristopher DeVincentis – Region One .................................Keefe Real estate Daniel lee – Region two ............................................. first Weber Group, inc. Judy hearst – Region three .................. coldwell banker Residential brokerage Dennis schwab – Region four ............................................ first Weber Group Michael spranger – Region five .....first Weber Group Northern Wisconsin, llc J. Kenneth lee – Region six ..................................................edina Realty, inc. Jeff Moenning – Region seven ........ century 21 Rautmann/schils Real estate

Past Chairman DirectorsJohn flor .............................................................................. six lakes Realtyterry hilgenberg ................................coldwell banker hilgenberg Real estateRob Keefe .................................................. WhR Group employee Relocation

Regional-Representative DirectorsJoseph busch – Region One ................................................. bear Realty, inc.

laurie logan – Region two ................................ Prudential community Realtyterry Monroe – Region two ..................................stark company ReAltORs®erik sjowall – Region two .......................... bunbury & Associates ReAltORs®Julie clarke – Region three .................................... Realty executives integrityJean stefaniak – Region three .......................................stefaniak Group, llcDavid schmidt, Jr. – Region three .................................. Dave schmidt RealtyPat Kaster – Region four ..............................................River city ReAltORs®K.c. Maurer – Region four .................................... Re/MAX 24/7 Real estatesharon helwig – Region five ..................................Re/MAX American DreamDaniel lawler – Region six ................... coldwell banker brenizer ReAltORs®steven lillestrand – Region six .........coldwell banker River Valley ReAltORs®Matthew Kapellen – Region seven ................................. Pleasant View Realty

Past Chairman DirectorsJohn flor .............................................................................. six lakes Realtyterry hilgenberg ................................coldwell banker hilgenberg Real estateRob Keefe .................................................. WhR Group employee Relocation

Outside DirectorsKenneth Dickson ..................................................................... Johnson bankMike strick ....................................................................evans title companyscott Welsh ................................................................... colliers international

Executive CommitteeRenny Diedrich, CRB,

coldwell banker the Real estate Group

........................................ chairman of the board

Steven Lane,

first Weber Group Northern Wisconsin, llc

................................chairman of the board-elect

Dan Kruse, century 21 Affiliated

............................................................. treasurer

Michael Theo, Wisconsin ReAltORs® Association

..................................................President & ceO

Paul Schieldt,

the Realty Group of south central Wi llc

..................................................... Vice President

Peter Sveum, coldwell banker success

..................................................... Vice President

K.C. Maurer, Re/MAX 24/7 Real estate

........................................Director-Vice President

Erik Sjowall, bunbury & Associates ReAltORs®

........................................Director-Vice Presidentleft to right: erik sjowall, Dan Kruse, Peter sveum, Michael theo, K.c. Maurer, Renny Diedrich, Paul schieldt and steve lane.

2012-2013 Board of Directors

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Chairman's Corner

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by Renny Diedrich

good morning, Wisconsin REALTORS®! I am honored to serve as your chairman of the board for

2012-2013. In the upcoming year, I am pleased to have a great leadership team supporting me, consisting of Steve Lane, Chairman-elect; Dan Kruse, treasurer; and directors Paul Schieldt, Peter Sveum, KC Maurer and Erik Sjowall. And we have an outstanding team on our board of directors as well.

I must give a big “thank you” to former chairman Rob Keefe for his leadership in 2011-2012. Last year in Wisconsin was a year filled with political unrest and recall after recall. During this time of unrest, Rob fearlessly led our organization with great passion. The WRA was extremely fortunate to have him volunteer his time on behalf of the association and its members in his role as chairman. I have learned from the best!

Also last year, the association said “goodbye” to longtime WRA president Bill Malkasian with his transition to the National Association of REALTORS® as the vice president of political strategic planning. Senior WRA staffer Mike Theo took the post as the new president and CEO, and the association is certainly in great hands since Mike has worked with the WRA for over 25 years. Mike continues to think outside the box instead of conducting “business as usual.” Thank you, Mike, for your enthusiasm, dedication and direction!

And thank you to all who attended the fall convention last month! Over 800 attended the “Mission Possible: Mobile Revolution” event held at the Radisson Paper Valley Hotel in downtown Appleton. Many of you completed your CE courses; many of you attended educational workshops; many of you witnessed the WRA flash mob at Opening Session; and many of you attended the “Connections Carnival” and the “LinkedIn After Hours” parties! Congratulations to Otto Bytof for receiving the Lifetime

Achievement Award, and congratulations to the other convention award recipients: Distinguished Service Award recipients Della Rancourt, Barbara McGill and Rob Keefe; Instructor of the Year Tracy Rucka; and CRS of the Year Eunice Beekman — what a group of true professionals honored at this year’s convention. I hope that you felt inspired by our keynote speakers, gained new information and knowledge from technology workshops, and left the convention feeling excited and ready to succeed in your real estate practice. Thank you for visiting my stomping grounds in the Fox River Valley. I loved hosting the group!

Three key goals will be my focus in the year ahead as your 2012-2013 chairman:

1. Legislative agendaWe will create an aggressive and

proactive legislative agenda that addresses not only the needs of today’s REALTORS® and homeowners, but also strategically positions the WRA to meet the needs of REALTORS® and homeowners over the next decade and beyond.

2. Female involvementA personal mission of mine is to engage

more members, including women. It is hard for me to believe that I am just the seventh female chairman in over 100

years of WRA leadership. Thank you, H. Sue Wiskowski, Nancy Schmelzer, Jan Edwards, Joyce Bytof, Joan Seramur and Kitty Jedwabny, for blazing the trail! In the upcoming year, I will ensure that the WRA creates systems that ultimately provide a better reflection of female association membership within WRA leadership.

3. TechnologyI encourage each of you to push

yourself when it comes to technology. Countless great programs are available that help us and our businesses. As your 2012-2013 chairman, I guarantee that the WRA will continue to be on the forefront of technology and will ensure that all members are aware of and fluent in emerging technologies that impact our industry and profession.

Your leadership team will be visiting many local board installations, and we look forward to the opportunity to meet with all of you. It is great to talk with you and hear your opinions. If you would like one of us to attend your meeting, please don’t hesitate to contact us.

I look forward to serving you in the upcoming year.

Renny Diedrich, WRA Chairman

2013 Mission: Possible

“I will create an aggressive and proactive legislative agenda that addresses not only the

needs of today’s REALTORS® and homeowners, but also strategically positions the WRA to meet the needs of REALTORS® and homeowners over

the next decade and beyond.“

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housing report

wisconsin monthly

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The Wisconsin housing market remained strong in August as home sales increased at a robust 20.3

percent pace over the same month last year, putting upward pressure on home prices, according to the most recent monthly report by the Wisconsin REALTORS® Association (WRA). Median prices rose 2.9 percent in August to $144,000 compared to August 2011, which is the sixth straight month of home price appreciation.

“National election cycles always introduce some degree of uncertainty in the economy, and this year is no exception; but the state housing economy continues to grow at a very solid pace,” said Renny Diedrich, chairman of the WRA board of directors. The home sale recovery began last summer, and sales have grown 20.7 percent year-to-date. “It’s great to see these sales so strong during the peak sales period in the state,” said Diedrich, who noted that in a typical year, about a third of Wisconsin closings take place between June and August. The strong August sales were seen throughout the state, with the North region up 36 percent over August of last year. “The North region is bouncing back after lagging the state in sales growth earlier this year,” said Diedrich. Also quite strong was the South Central region, which grew 23.1 percent over the period. The remaining

four regions were more closely clustered, with sales up 18.7 percent in the West; growth of 17.7 percent in the Northeast and Southeast regions; and sales increasing 15.7 percent in the Central region in August 2012 compared to August 2011.

The median price rose at an annual pace of 2.9 percent in August 2012, and this continues the pattern of modest price appreciation statewide for each of the last six months. “It’s clear that in spite of slight upticks in the state unemployment rate over the last two months, the housing market continues to grow, and it’s growing at a brisk pace,” said WRA President and CEO Michael Theo. Statewide inventories stayed in the range of 60,000 to 62,000 units since April, and while this is well below the peak of over 72,000 unsold units recorded in August 2010, it remains relatively high. “We have over a year of available inventory, which is one of the things that has kept prices from rising more quickly given the strong growth in sales over the past 14 months,” said Theo. An analysis of county-level inventories suggests metropolitan counties have fewer homes for sale than the statewide average. “We are currently

growth in Home sales and prices continues in august

view Online View all of the housing statistics at www.wra.org/housingstatistics.

by David Clark

WISCOnSIn hOuSIng STATISTICS MOnThLY ACTIvITY — AuguST 2012

Statewide Aug-2012 Aug-2011 % Change YTD-2012 YTD-2011 % ChangeNew listings 10,232 10,121 1.1% 83,993 86,103 -2.5% closed sales 6,419 5,335 20.3% 41,939 34,744 20.7%Median sales Prices $144,000 $140,000 2.9% $134,011 $133,000 0.8%

Median Price Existing home Sales Region Aug-2012 Aug-2011 % Change Aug-2012 Aug-2011 % Changesoutheast $154,000 $151,200 1.9% 2,265 1,924 17.7%south central $163,900 $161,250 1.6% 1,298 1,054 23.1%West $137,000 $139,000 -1.4% 659 555 18.7%Northeast $127,250 $124,000 2.6% 1,132 962 17.7%central $119,800 $122,000 -1.8% 383 331 15.7%North $127,600 $115,000 11.0% 676 497 36.0%

seeing an average of about 9.6 months of inventory for our metropolitan counties compared to an overall statewide average of 12.5 months, which means the urban markets are liquidating their inventories more rapidly” said Theo. Nonetheless, housing affordability remains high in the state. The Wisconsin Housing Affordability Index, which measures the percentage of a median-priced home that a buyer with the median family income can afford, changed by modest margins. The index was at 237 in August, which is down slightly from the July figure of 240, but up from the August 2011 level of 224. “The fact that 30-year fixed mortgage rates have been under 4 percent all year, and currently stand at 3.6 percent, has kept affordability high, even as home prices have inched upward,” said Theo. Theo suggested that while the Federal Reserve has signaled a commitment to low interest rates in the near term, continued home price appreciation will eventually reduce affordability. “This is an excellent time to work with a REALTOR® to lock in a mortgage at very favorable rates before home prices start rising more quickly,” he said.

David Clark, Ph.D, is a professor of economics at Marquette University and serves as a consultant to the WRA in the analysis of existing home sales data as well as in the preparation of the monthly Wisconsin Housing Report. For more information, contact Clark at C3 Statistical Solutions, 414-803-6537.

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With nonstop elections occurring in Wisconsin over the last two years, many Wisconsinites are suffering from election fatigue. This fatigue may cause some to question whether it is

worth going to the polls again, or whether it would be better to sit this election out.

For REALTORS® who may be pondering whether or not to vote, the answer is clear — the 2012 presidential election

is too important to the real estate industry to stay home. While the housing industry is seeing signs of improvement, the federal deficit continues to grow and the number of unemployed is still too high. The economic outlook for the United States is unclear at best, and any new setbacks could prolong the housing recovery.

Despite the lagging national economy, Wisconsin appears to be in better shape than many other areas of the country. After erasing a $3.6 billion state budget deficit without raising taxes, our fiscal house is in order. In addition, we passed

major regulatory reform during the last legislative session to improve the regulatory climate necessary for economic development expansion, retaining existing businesses and protecting property rights. Moreover, Wisconsin attempted to improve the tax climate by freezing property taxes and virtually eliminating income taxes on manufacturers. However, more must be done to improve job growth in the Badger State.

Ultimately, the recovery of our national and state economies is inextricably linked to the recovery of our housing market, and the next president — whether it is Barack Obama or Mitt Romney — will have some significant housing issues to address. The most fundamental housing issue facing both

presidential candidates is what future role will the federal government have in housing? Although the answer to this question is somewhat unclear at this time, we can gain some insight by looking more closely at the candidates’ positions on three key housing issues: the mortgage interest deduction, the secondary mortgage market and foreclosures.

Mortgage interest deductionOne issue in the upcoming election

that could have a significant impact on the real estate industry is whether the federal tax deduction for mortgage interest will be changed or eliminated. Currently, homeowners may deduct the

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by Tom Larson

interest on mortgage loans for primary and secondary residences up to $1 million of mortgage debt. Also, the interest on home equity loans up to $100,000 may be deducted. The mortgage interest deduction (MID) provides about $90 billion in tax savings to homeowners each year, and has been a catalyst to promoting homeownership in the U.S. since 1913.

In an effort to help address the U.S. budget deficit, many have suggested that the MID should be eliminated, reduced based on income or mortgage amount, or limited to primary residences. While any of these suggested changes could hurt the Wisconsin real estate industry, the elimination of the MID on second homes would be particularly harmful due to Wisconsin’s large second-home market. Moreover, reducing or eliminating the MID could result in greater foreclosures and further price deductions, which could send the improving real estate market into another decline.

Under his 2013 budget proposal, President Obama would eliminate the MID for married taxpayers making more than $250,000 and for single taxpayers making more than $200,000. On the other hand, Mitt Romney has indicated that he would maintain the MID, despite claims by economists and others that his tax

cut proposal doesn’t balance out unless

the MID is severely cut or eliminated.

Secondary mortgage marketAnother key issue in the upcoming

election will be what role, if any, the federal

government will play in the secondary

mortgage market. Since the 1990s,

Fannie Mae and Freddie Mac (which are

privately owned but are sponsored by the

federal government) have backed more

than 90 percent of the home mortgages originated in the U.S. This backing has helped make home mortgages more accessible and affordable to millions of Americans who would not have been able to otherwise become homeowners.

However, due to bad investments in subprime loans and other risky home mortgage loans, Fannie Mae and Freddie Mac experienced severe financial troubles and needed to be bailed out by the American taxpayers, which some estimate will cost over $360 billion. In addition, the U.S. Treasury Department has now taken control over both entities.

Both President Obama and Mitt Romney have indicated that Fannie Mae and Freddie Mac cannot continue to exist in their current form and need to be restructured. Last year, President Obama outlined three possible ways to change the role played by Fannie and Freddie in the mortgage market but didn’t express a preference for any of the options. Nevertheless, it is believed that President Obama would prefer to replace Fannie and Freddie with a system that shifts more insurance responsibilities to private companies and limits the federal government’s role to providing only disaster-relief insurance in the event that the private companies go belly up.

“The 2012 presidential election is too important to the real estate industry to stay home.”

25% Percentage of American homeowners currently

owe more on their mortgages than their

property is worth.

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Mitt Romney also supports replacing Fannie and Freddie with a private sector solution, but he has yet to release any details on what that would look like.

This is significant because it is widely believed that a more limited role by the federal government in the secondary mortgage market will lead to shorter-term mortgages, (e.g., the elimination of the 30-year mortgage,) higher interest rates and possibly higher down payment requirements.

ForeclosuresWhile the number of foreclosures

has improved both nationally and in Wisconsin, foreclosures will likely continue to be an important issue given that an estimated 25 percent of American homeowners currently owe more on their mortgages than their property is worth.

Both President Obama and Mitt

Romney support the selling of some 200,000 foreclosed homes owned by the federal government and converting them into rental housing.

In the past several years, President Obama has created several mortgage modification programs, such as the Home Affordable Modification Program and the Home Affordable Refinance Program, that have helped more than 5 million homeowners modify loans and avoid foreclosure. In addition, the president also proposed providing more money to local communities ($15 million) to partner with the private sector in buying and rehabilitating foreclosed homes to help stabilize local neighborhoods and real estate markets.

Mitt Romney has expressed support for providing the federal government with more flexibility to pursue foreclosure alternatives such as short sales, deed-in-lieu transactions and shared appreciation.

Failure to develop an effective foreclosure policy could hurt the housing recovery and further stagnate economic and job growth throughout the country.

Given the magnitude of these issues, it would not be an exaggeration to state that the housing market as we know it could significantly change as a result of this election. Because the outcome of the presidential election could impact, among other things, the price we pay and how we finance home purchases in the future, please remember to vote on November 6.

Tom Larson is Vice President of Legal and Public Affairs for the WRA.

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“Given the magnitude of these issues, it would not be an exaggeration to state that the housing market as we know it

could significantly change as a result of this election.”

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resources

membership

exclusive member BenefitsWe wish you success in your career and hope you take advantage of the many benefits we offer.

Office Suppliessave big on office supplies with Office supplies 2u, a proud Wisconsin-based company with a seasoned, experienced staff focused on customer service. Os2u’s mission is to be the single-source premier supplier of business products to customers by providing the utmost in quality, commitment and care. for more information, contact bob brooks at (608) 441-8900, ext. 26, or by e-mail at bobb@os2u.com. Visit Os2u online at www.os2u.com.

Business furnitureestablished in 1940, emmons business interiors has marketed and distributed quality office furnishings across Wisconsin for decades. through several statewide locations, ebi provides a complete line of quality new and used furniture, as well as refurbished office furniture products. Also available are interior design services, installation, and project management and moving management. let the experienced team at ebi design efficient, productive and ergonomic work environments for your office or home. for more information, contact tod Dean at (800) 324-1691 ext. 424, or by e-mail at todd@ebiweb.com. Visit online at www.ebiweb.com.

Long-Distance Programsave big money on your long-distance rates with AMi communications, inc. the plan features low rates with no monthly plan fee, no time-of-day restrictions and no term or volume commitments. AMi also offers a variety of products, including teleconferencing and toll-free service. call (800) 254-3202 or visit www.ami.net and mention that you are a WRA member to begin enjoying the quality of service and savings that AMi provides.

health, Dental & Life Insurancesave on health insurance premiums with ReGit inc. without compromising your coverage. ReGit inc.’s health program provides access to insurance plans that can be customized to meet the needs of the individual. call today for a free, no-obligation quote at (800) 537-9786 or visit www.regitinc.com.

Errors & Omissions Programthe WRA-endorsed carrier for errors and omissions (e&O) insurance is Pearl insurance. the ReAltOR® e&O insurance program is designed specifically for the real estate industry and the particular risks you face. it provides special coverage for claims arising out of

regulatory complaints, personal injury, lockbox liability or allegations of discrimination. for more information and a free quote, contact Pearl insurance at (800) 289-8170 or visit www.pearlinsurance.com.

Website Developmentinterested in creating your own website? WRA members can design and maintain their own websites through Real estate home Pages. software templates and easy-to-use tools for adding images and formatting text provide a professional look, usually only attained by a graphic artist or Web designer. Visit www.realestatehomepages.com for more information. You’ll be amazed at how easy and inexpensive having a website can be!

Shipping DiscountsWRA members currently enrolled in the uPs savings Program must re-enroll to take advantage of this new exclusive offer. Just take a few minutes to fill out the short application form available at www.savewithups.com/enroll. to enroll, use promo code NcR308. if you have any questions, call uPs at 1-(800) 325-7000.

if you have questions about one of the WRA Member

benefits, please contact Debbie thacker at dthacker@

wra.org or by calling 1-(800) 279-1972.

Medicare Open Enrollment Period Fast Approaching

mark your calendar — open enrollment period begins on October 15 and ends December 7. During open enrollment, Medicare beneficiaries can change their Part D prescription drug plan, choose a Part C Medicare Advantage plan, or go back to original Medicare when leaving a Medicare

Advantage plan. Any plan changes made during open enrollment will be effective January 1, 2013.Many of these plans change each year, so it is recommended to review your current coverage

during open enrollment. It is especially important if you have experienced a change in medications or health status. As of October 1, 2012, you can review new 2013 plan information at www.medicare.gov.

For more information on your options — or if you are one of the many Baby Boomers turning 65 — contact the WRA’s health insurance partner, REGIT Inc., at 800-537-9786 or via e-mail at regit@regitinc.com. Their knowledgeable, licensed staff will simplify the process for you.

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by Cori Lamont

Keeping the “pro” in “professional,” Think Before You Text

since the mid-2000s, texting has gained significant use in the professional world, including real estate. For most

REALTORS®, technology provides the ability to be more efficient and responsive in a transaction. As we sit in 2012, most of us can agree texting can be a beautiful thing: it allows busy individuals the opportunity to connect quickly, encourages brevity, and is often the method of connection when using a phone or e-mail is undesired or unavailable. However, like all beautiful things, technology has a dark side. Some argue that technology allows us to be too accessible, and for many of us, it occasionally provides the smallest of windows for sloppy behavior.

First let’s get the obvious general cautions out of the way. We all should be aware of what we’re texting, when we’re texting — both location as well as time of day — and who we’re texting; these are not mutually exclusive. The last scenario that any professional wants to experience is the looming, embarrassing “accidental text”: when a snarky, humorous or suggestive text that was meant for a friend is sent by mistake to a client or prospective customer instead. I mean, really, you don’t want to have that conversation … or try the other equally awkward route of ignoring the situation until asked and pretend that it didn’t occur.

The following are more specific cautions for real estate agents.

Ask before you text To some, texting is much more personal

than e-mail. And not everyone has a phone that sends and receives texts easily and not everyone enjoys texting; it’s what the consumer wants — not what is always easy for the professional. Therefore, ask for permission from consumers before you text them.

And remember, once you have received permission, be aware of how quickly and

what time of day you respond to or send that very first text, as these will set the standard for your entire texting relationship with that individual. If an agent sends a text at 10:40 p.m. for the very first time to the consumer, and the consumer texts back at 10:41 p.m., you are now looking at your phone thinking, “one minute … one minute … that’s all it took to respond at 10:41 p.m. on a Monday night.” At this moment, set down your phone and answer this question: what precedent are you setting by answering that text at that moment?

Watch what you’re texting Avoid providing disclosures and/

or negotiations via text. This is not limited to the conversations you have with consumers — this applies to the texts with other real estate agents and

“Be aware of what you’re texting — remember the receiver cannot interpret your tone and may not use and/or understand abbreviations.”

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settlement service providers as well! Texting should be utilized with consumers

for communication, such as confirming showing times. Additionally, be aware of what you’re texting — remember the receiver cannot interpret your tone and may not use and/or understand abbreviations, especially those that agents use in transactions; for example, “RECR.” And if your phone utilizes auto-fill, you can have some interesting conversations — yes, “interesting” good and “interesting” very bad!

Keep track of the texts Do you text just one of your sellers at one

time and then both sellers at another? If you have five listings and have permission to text all sellers, let’s pretend there are two sellers for each listing — that’s a lot of texts to track! And that’s without other agents, buyers, settlement services providers, your broker, e-mails, phone calls, and oh, that personal life you allegedly have!

Effective December 2010, Wisconsin banned texting and e-mailing while driving

An individual caught sending an e-mail or text message while driving could be fined anywhere from $20 to $400. This ban is included in Wis. Stat. §§ 346.89(3) and 346.95(11).

Careful how you market as texting is now part of the no-call list law

Effective April 17, 2012, Wis. Stat. § 100.52 (1) (i) was amended to include texting into the definition of “telephone solicitation.” Wis. Stat. § 100.52 (1) (i) now reads: “‘Telephone solicitation’ means the unsolicited initiation of a telephone conversation or text message for the purpose of encouraging the recipient of the telephone call or text message to purchase property, goods or services.” Therefore, the same residential customer no-call rules in Wisconsin now apply to text messages.

Also watch for changes to the Wisconsin Department of Agriculture Trade and Consumer Protection rule ATCP § 127

relating to direct marketing. The proposed rule change to ATCP § 127, Subchapter V, would make changes to parallel Wis. Stat. § 100.52 and address additional issues, such as prohibiting a telephone solicitation practice known as “spoofing.” According to the proposed order of DATCP for the hearing draft rule dated August 1, 2012, “spoofing” is the practice of “caller identification services to transmit or display misleading or inaccurate caller identification information.”

According to DATCP, two categories of direct marketing businesses will experience the biggest impact relating to these changes. One is the group that conducts both telephone and text solicitations that may be required to make slight changes to its current business practices. The second group is direct marketers that have been conducting text solicitation that were not currently registered as telephone solicitors, and due to the proposed changes, would be required to register with the Wisconsin No-Call list.

As a reminder, current Federal FCC rules prohibit sending unwanted text messages to a telephone number on the national Do Not Call list.

For more information, refer to the August 2005 Legal Update, “Federal Laws Impacting REALTOR® Practice,” at www.wra.org/LU0508 and the February 2006 Legal Update, “Real Estate Advertising,” at www.wra.org/LU0602.

Do you know how to back up your text messages?

Wis. Admin. Code § REEB 15.05 requires, “A broker shall retain for at least 3 years exact and complete copies of all listing contracts, offers to purchase, leases, closing statements, deposit receipts, cancelled checks, trust account records and other documents or correspondence received or prepared by the broker in connection with any transaction. The retention period shall run from the date of closing of the transaction or, if the transaction has not been consummated, from the date of listing. The broker shall make these records available for inspection and copying by the department. If the records are retained outside this state,

the broker shall, upon request of the department, promptly send exact and complete copies to the department.” • Texts will not remain forever on the

majority of phones. Just like voice mails, texts will delete off of a phone eventually, so you must be proactive and take steps to separately save the text messages.

• The following may be some of the ways to successfully print a text message:

• E-mail: open the text and forward it, entering your e-mail address rather than a phone number. The problem with this method may be proving who sent the original text since you are forwarding the text from your phone number.

• Computer: connect a data cable to a computer that permits the transfer of the messages to a computer, save them, and print.

• Mobile apps: Apps such as PhoneView for iPhone users or TouchCopy for Android allow backup of every text sent and received into your Gmail account; each resolution will depend on your brand of phone. And I am sure this will continue to evolve, making life just that much easier.

• Cell phone providers should have text records. However, most will only provide a detailed text message with a court order. It is also unclear the length of time the provider will keep the detailed message.

Check your company policy If you have not already been made aware

or have asked about the current company policy regarding texting and retention of the communication, you should follow up with your broker. Fore more information on potential legal consequences of texting, see the August 2012 Wisconsin Real Estate Magazine article, “Caution: Slippery Slope Ahead” online at www.wra.org/WREM/Aug10/SlipperySlope.

Text messaging is a beautiful thing, right?

Cori Lamont is Director of Brokerage Regulation and Licensing for the WRA.

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Fight nice — Try ReaLToR®

meDiaTion

by Tracy Rucka

REALTOR® arbitration: 100 years of broker cooperation and dispute resolution

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What is the history behind REALTOR® mediation and arbitration?

For nearly 100 years, REALTORS® have been using arbitration as the chosen dispute resolution mechanism to resolve differences with other REALTORS®. The REALTOR® Code of Ethics was adopted as “Ethics of the Real Estate Profession” in 1913 by the National Association of Real Estate Exchanges. The original purpose of the code was to establish professional standards and conduct for real estate practitioners in an era of speculation, exploitation and competition. The code not only included consumer protection but also fostered respect for and cooperation with other real estate practitioners.

Members of the association agreed they would resolve their disputes in the original code, which included the following provisions in Article 9: “Invoke friendly arbitrations by the Real Estate Association rather than through the courts of law, in settling differences with other agents.”

Fast forward 99 years, and Article 17 of the Code of Ethics continues this informal dispute resolution tradition for REALTORS® with provisions for both mediation and arbitration of their contractual disputes. REALTORS® who find themselves in conflict may use the local board’s ethics, mediation and arbitration services.

MediationWhat is mediation?Mediation is the confidential process

by which disputing parties meet with a neutral mediator to reach a mutually agreeable solution or settlement of their dispute. The objective in mediation is for the parties to resolve the dispute and enter into a written agreement stating the terms of their settlement, thereby avoiding the need to arbitrate the matter. Often the crux of the issue between REALTORS® is a failure to communicate clearly or timely with each other or incomplete communication between members and consumers. Mediation offers a neutral place where brokers, or consumers, can overcome misunderstandings or miscommunication. Guided by a mediator, the parties are able to discuss the situation, offer suggestions for resolution, and reach a settlement.

What are some of the benefits of mediation?

People in conflict can use mediation to set aside other distractions and focus on the issue at hand. In mediation, each party is given the time necessary to share their experience and expectations. This gives the other party perspective regarding the situation. Inevitably in mediation, parties have “aha” moments when listening to the other party tell their side of the story. A party suddenly has clarity about something that was unknown or mistaken or misunderstood. Hearing the other party tell their side of the situation frequently leads to a better understanding of what occurred and why the other party has the position they do.

REALTOR® mediation is a free member benefit. Mediation captures the spirit of REALTOR® cooperation, working together to reach a successful resolution. The service is easy to schedule and allows the parties to craft a creative win-win solution to the matter. Unlike an arbitration hearing where there is a prevailing party and a non-prevailing party, mediation has two parties who agree on the solution. Mediation can help maintain good relationships between parties who will continue to cooperate in the marketplace and gives them the power to determine their own outcome.

Who are the mediators?In REALTOR® mediation, the mediator

is a facilitator, not the decision-maker.

Although local association policy determines who the mediators are, mostly they are REALTORS® who have experience with professional standards and arbitration hearings and have attended additional mediation training. Mediators are selected for their knowledge of the real estate industry and judicial temperament in resolving disputes. The mediator may make recommendations or suggestions for settlement but cannot impose his or her solutions on the participants. The mediator has a duty of confidentiality to keep the discussions private, thereby allowing the parties to honestly and frankly work together to solve the dispute at hand.

Is participation in REALTOR® mediation mandatory?

That depends on local association policy. Article 17 of the Code of Ethics creates the duty to arbitrate contractual disputes between REALTORS® arising out of real estate transactions. Since 2002, associations have offered voluntary mediation services. Given the NAR goal to have mediation as the primary dispute resolution mechanism, Article 17 was amended in 2012, giving local associations the discretion to require mandatory mediation for arbitrable issues. Members may contact their local association to see whether mediation is voluntary or mandatory.

If mandatory mediation is adopted, then REALTORS® are obligated to participate in mediation. If mediation is not mandatory, or if mandatory mediation is tried but is not successful, the dispute will be forwarded to an arbitration hearing where the outcome will be decided by the hearing panel.

ArbitrationWhat are the differences between

mediation and arbitration in terms of what the parties must do to prepare?

One of the distinctions between mediation and arbitration is that mediation parties come with an open mind and an expectation to reach resolution. In mediation the parties may, but are not required to, bring exhibits, documents, contracts or witnesses. It is not a formal hearing.

To prepare for an arbitration, a broker may wish to confer with legal counsel for help in gathering any witnesses

“One of the distinctions

between mediation and

arbitration is that mediation parties

come with an open mind and

an expectation to reach resolution.”

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and evidence necessary to convince a hearing panel comprised of three or more arbitrators. The panel hears testimony and reviews documents and then renders a final decision resolving the dispute. Arbitration is faster and less expensive than going to court, and decisions are made by a panel of real estate professionals, rather than judges who may not be well-versed in real estate and licensee law. But going to arbitration can feel like going to court because it is a confrontational, adversarial, all-or-nothing process where there is a winner and a loser.

The agent went to closing and did not get paid because the listing agent is proclaiming that she is procuring cause because the buyer went to her open house. The buyers also had individual showings of the property with the cooperating agent. The listing agent never contacted the buyer after the open house and after the individual showings. How will the arbitration panel make a decision about procuring cause?

If the brokers are unable to negotiate or use mediation to reach a settlement, the broker may file a request for arbitration. The issue for the arbitration panel will be procuring cause: who caused the sale of the property? There is no single act that determines procuring cause; it is a conclusion drawn from a full, knowledgeable consideration of all of the facts of the case.

The preeminent written authority explaining procuring cause, as applied in REALTOR® arbitration hearings, is the Code of Ethics and Arbitration Manual, specifically “Appendix II to Part Ten—Arbitration Guidelines (Suggested Factors for Consideration by a Hearing Panel in

Arbitration),” which may be viewed online at http://www.realtor.org/CEAM.nsf/1ea4bd9041b3346c862569a6006f7c75/448362d102506f1086257234006f6ea6?OpenDocument. That document indicates that:

“While a number of definitions of procuring cause exist, and a myriad of factors may ultimately enter into any determination of procuring cause, for purposes of arbitration conducted by boards and associations of REALTORS®, procuring cause in broker to broker disputes can be readily understood as the uninterrupted series of causal events which results in the successful transaction. Or, in other words, what ‘caused’ the successful transaction to come about. ‘Successful transaction,’ as used in these Arbitration Guidelines, is defined as ‘sale that closes or a lease that is executed.’”

Arbitration panels will consider whether, under the circumstances and in accord with local custom and practice, the broker made reasonable efforts to develop and maintain an ongoing relationship with the purchaser. Did the first broker actively maintain ongoing contact with the purchaser, or did the broker’s inactivity, or perceived inactivity, cause the purchaser to reasonably conclude that the broker had lost interest or disengaged from the transaction (abandonment)? In other instances, a purchaser, despite reasonable efforts by the broker to maintain ongoing contact, may seek assistance from another broker. The panel will want to consider why the first broker “abandoned” the buyer and whether the broker engaged in conduct that caused the buyer to terminate the relationship (estrangement). This can be caused, among other things, by the broker’s words

or actions. Panels will want to consider whether such conduct caused a break in the series of events leading to the transaction and whether the successful transaction was actually brought about through the initiation of a separate, subsequent series of events by the second broker.

EthicsWhat can an agent do when

they observe another agent acting unethically?

If the allegation is that the REALTOR® violated the Code of Ethics, then the person can file a complaint with the local association. Before doing so, it may be beneficial to read the NAR brochure, “Before You File an Ethics Complaint” at www.realtor.org/mempolweb.nsf/pages/Beforeyoufileanethicscomplaint?OpenDocument&Login

Alternately, the agent could approach the other agent directly or via their broker to attempt to resolve the issue without a third party. If the direct approach is not successful, contact the local association to determine if the association offers mediation services for ethics; most do in Wisconsin. Finally in some cases there may be an office policy in place that sets forth how the company intends to internally resolve ethics or company policy about dispute resolution.

Tracy Rucka is Director of Professional Standards and Practices for the WRA.

Procuring Cause Resources

Legal update 01.04, “Cooperative Commissions and Procuring Cause” www.wra.org/lu1004

Legal update 02.04, “What is Procuring Cause?” www.wra.org/lu0204

nAR field guide to Professional Standardswww.realtor.org/field-guides/field-guide-to-professional-standards

What’s YourDream Job?

When was the last time your boss asked you that? At

Coldwell Banker it’s always our first question. We believe

our success comes from helping you realize your idea of

success. It’s whatever you decide.

Every Dream Deserves a ChanceDreamBlueBlog.com • ColdwellBankerOnline.com

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by Debbi Conrad

Recovering from a credit score Hit On the road to mortgage eligibility

Credit scoring remains one of the major mysteries at play in the quest for a home loan mortgage. Lenders want to gauge the potential risk involved when they extend a mortgage loan to a homebuyer, and most turn to credit scores to help determine the credit risk associated with the prospective buyer.

Fair Isaac is the guru that produces the FICO scores used in the vast majority of lending decisions. FICO

scores range from 300-850 and can affect how much money a lender will lend and at what interest rate and terms. Three major credit reporting agencies, or credit bureaus — TransUnion, Equifax and Experian — are the collectors and the keepers of the consumer credit information that is the basis for computing FICO scores; each credit bureau computes its own separate score. The credit bureaus track various credit information regarding, for instance, a person’s credit accounts, how many times lenders have requested

credit information (inquiries), and how many times lenders used a collection agency to collect amounts that were due (collections).

The big hits: short sale, deed in lieu, foreclosure and bankruptcy

Recent years have been unkind to many consumers who have found themselves underwater on mortgages they cannot afford or who have struggled due to job loss, medical bills, divorce or other financial adversity. In the depths

of despair and mortgage delinquency,

many of these homeowners end up

extricating themselves from their

mortgage predicament by selling the

property through a short sale, giving

the lender a deed in lieu of foreclosure,

allowing the bank to foreclose, or

declaring bankruptcy. All of these

events have an adverse impact on the

individual’s credit score. While many

might assume that the consequences

of a short sale would be less drastic

than the consequences of a foreclosure,

when it comes to credit scores, the

“hit” sustained may be the same.

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Short sales With a short sale, the owner fashions

a solution, with the cooperation and consent of the lender, of course, that causes the lender to accept less than the amount due. The short sale also saves the lender from the time and costs of a foreclosure. While that may be true, the purpose of the credit score analytics is to evaluate and project the risk the individual poses when credit is extended: will the individual repay a new loan or will the person default? A short sale’s impact will depend on how the short sale is reported to the credit bureaus. Because there is no specific code for a short sale, it often is reported as paid in full for less than the full balance, a negative code.

ForeclosureIf there is instead a foreclosure,

there will be a derogatory effect on the person’s credit score that may be substantial, possibly as much as 200 points. A foreclosure remains on the credit report for seven years, but the impact will lessen over time, especially if the individual keeps other credit obligations in good standing. The foreclosure is less damaging if it is the only default or negative event in the credit file.

Gauging the impactAll negative mortgage events such as

a short sale, foreclosure, or deed in lieu do not bode well for future credit risk because the individuals have not paid their mortgage debts. The exact impact in all cases depends on the credit score the person had before, what information is reported and the composition of his or her credit file. A lower starting credit score may drop less than a score that was higher to begin with. The impact is less extensive for consumers who had already missed payments or carry heavy debt loads. Conversely, the downward impact will probably be greater on the credit scores of consumers with no other delinquency or derogatory items and low debt levels. For example, if a person with a credit score of 680 has a foreclosure, the score will drop 85-105 points, while a bankruptcy drops the score 130-150 points. A person with a 780 credit score has more to lose:

the foreclosure will mean a reduction of 140-160 points while the bankruptcy can take it down 220-240 points. Visit www.myfico.com/crediteducation/questions/Credit_Problem_Comparison.aspx for other examples. In all cases, a negative mortgage event such as these will ultimately result in fewer offers and account approvals and higher interest rates and fees.

Isn’t a foreclosure worse than a short sale?

FICO conducted a study to determine the credit risk associated with “mortgage stress events,” such as foreclosures and short sales, by analyzing data from 2009 through 2011. The results show a slightly better risk for persons who had short sales rather than a foreclosure, but the difference was not enough to cause FICO to score this differently. Approximately half of those individuals going through a short sale also defaulted on another account within two years, and many had another mortgage delinquency in their past.

Deed-in-lieuA deed in lieu is also considered to

be derogatory. While it may seem that it should bode better for a property owner who deeds the property to the lender rather than making them go through the time and expense of a foreclosure, the FICO score does not “look at it” the same way. In terms of predicting future credit risk, the negative impact of a deed in lieu of foreclosure and a foreclosure may be similar. Again, the specific impact depends on what the credit score was before and what other “black marks” are contained in the credit files with the credit bureaus.

BankruptcyA bankruptcy can do more credit score

damage than a short sale, deed-in-lieu or foreclosure because it is a reflection of a person’s overall credit status rather than one hopefully isolated derogatory event. A bankruptcy can reduce otherwise good scores by 200 points or more, but will have less of an impact on low credit scores that already take into consideration past due status. The impact will gradually lessen over the 10 years it will remain on the credit report.

“A foreclosure remains on the credit report for

seven years, but the impact will lessen over time, especially if the individual keeps other credit obligations in

good standing.”

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Credit score repair and improvement

If an individual has experienced a credit score hit, or simply wants to improve his or her credit score, what can be done? Although it may seem obvious, the most important things that can be done immediately are:1 Check the credit report: Credit

score repair begins with the credit report. Check to make sure it contain no errors, particularly any late payments incorrectly listed or incorrect amounts owed. Dispute any errors with the credit bureau.

2 Set up payment reminders: Making credit payments on time is one of the biggest contributing factors to a credit score. Consider enrolling in automatic payments through credit card and loan providers.

3 Reduce the amount of debt owed: Stop using credit cards. Pay down the highest interest cards first while maintaining minimum payments on other accounts.

Payment history tipsThe payment history accounts for 35

percent of a credit score calculation, so it presents the best opportunity for improving a score, but past problems like missed or late payments are not easily fixed.1 Always pay bills on time. Delinquent

payments, even if only a few days late, and collections can have a major negative impact on a FICO score.

2 If payments are missed, getting current and staying current is the best medicine.

3 Paying off a collection account does not make it go away. It stays on the credit report for seven years.

Amounts owed tipsThis category contributes 30 percent

to the credit score calculation.

1 Keep balances low on credit cards and other revolving credit because high outstanding balances affect the credit score. Don’t exceed 35 percent of the credit card limits.

2 Pay down debt rather than moving it around. Owing the same amount but having fewer open accounts may lower the score.

3 Don’t close unused credit cards as a strategy to raise a credit score.

4 Don’t open a number of new unneeded credit cards just to increase available credit. This approach could backfire and actually lower the credit score.

Length of credit history tipsDon’t open several new accounts too

rapidly because they will lower the average account age. Leave older accounts open to maintain length of credit history.

Types of credit use tips1 Apply for and open new credit

accounts only as needed.2 Having credit cards and installment

loans and using them responsibly rebuilds a credit score. Someone with no credit cards, for example, may be higher risk than someone who has managed credit responsibly.

3 Closing an account doesn’t make it go away; it still shows up on the credit report.

Free credits reportsThe Fair Credit Reporting Act (FCRA)

requires each of the nationwide consumer reporting companies — Equifax, Experian and TransUnion — to provide a free copy of an individual’s credit report, at his or her request, once every 12 months. Annualcreditreport.com is the ONLY authorized source for the free annual credit report that’s required under federal law. Many companies claim to

offer free credit reports — and some do. But others give you a report only if you buy other products or services.

The three nationwide credit bureaus have a central website, a toll-free telephone number, and a mailing address for ordering a free annual report. To order, visit annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348. The form is available from www.ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually.

There is no service where a person can obtain their credit score for free in order to simply check on it.

Debbi Conrad is Senior Attorney and Director of Legal Affairs for the WRA.

Online Resources

fair Isaac/MyfICO: www.myfico.com/

Equifax: 1-800-685-1111; equifax.com

Experian: 1-888-397-3742; experian.com

Transunion: 1-800-916-8800; transunion.com

free Annual Credits Reports: 1-877-322-8228: www.AnnualcreditReport.com

fair Isaac study: http://bankinganalyticsblog.fico.com/2012/08/are-short-sales-really-that-bad.html

“Don’t open several new accounts too rapidly because they will lower the average account age. Leave older accounts open to maintain length of credit history.”

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education

2013-14 CE Out-of-StateMarch 5-8, 2013 — San Juan, Puerto Rico Grab your suitcase and fulfill your 2013-2014 ce requirements in style! escape the winter weather and join the WRA in sunny Puerto Rico. Whether you enjoy the spectacular ocean views, historical buildings or fantastic beaches, this is one educational opportunity you won’t want to miss. classes are held at the sheraton Old san Juan hotel & casino. • course 1 – Wisconsin listings• course 2 – Wisconsin Offers• course 3 – Wisconsin New Developments• course 4 – contingencies in Wisconsin Approved Offer forms

To register, visit www.wra.org/SanJuanCE.

Real Estate Sales Pre-LicenseOctober 8-12, 15-17, 2012 WRA headquarters — Madisonto obtain a real estate license in the state of Wisconsin, you must first complete 72 hours of approved education courses, such as our sales pre-license course. second, you must pass a state-administered exam. the WRA will offer an 8-day accelerated 72-hour sales program on October 8–12 and 15–17, 2012 in Madison.

for more information, visit www.wra.org/salespl

Commercial CE City Center — Milwaukee

for ce with a focus on commercial real estate, look no further than the WRA’s commercial ce courses! upcoming courses in Milwaukee include:• november 1: ce 1, 8:30 a.m. – 12 p.m.; ce 2, 1 p.m. – 4:30 p.m.• november 15: ce 3, 8:30 a.m. – 12 p.m.; ce 4, 1 p.m. – 4:30 p.m.• november 29: elective A, 8:30 a.m. – 12 p.m.;

elective D: 1 p.m. – 4:30 p.m.

To register, visit www.wra.org/CommercialCE.

Top-notch classroom educationWhether your goal is to become a real estate sales licensee, enhance your career with a prestigious designation, or renew your license with continuing education, this section offers you the key courses you will need.

CRS 202: Sales Strategiesnovember 1-2, 2012 Radisson hotel Milwaukee West — Wauwatosalearn how to tap into the motivations of today’s qualified homebuyers and help them achieve homeownership! You’ll learn about identifying buyers and gaining their trust and loyalty. earn 16 credits toward your cRs designation with cRs 202. Don’t miss this course — and don’t miss prime networking opportunities with other ReAltORs®! Visit www.wra.org/cRscourses for more information. submitted for 2011-12 ce. instructor: Jackie leavenworth, cRs.

Take advantage of the Pro Program! If you have been licensed for at least 10 years and have an average of $1 million per yer year with at least 40 transactions, you only need this course to earn your CRS designation!

Co-Sponsored with Wisconsin CRS Chapter.

Appraisal CE• October 25: excel and Appraisal Practice – Wauwatosa — 7 hrs.• October 26: 7-hour National usPAP 2012-2013 update – Madison — 7 hrs.• October 29: bullet Proof Your Appraisal – Madison — 3.5 hrs.• October 29: calculate Your Way to More income – Madison — 3.5 hrs.• October 30: foreclosures & short sales – Appleton — 7 hrs.Classes are approved for Wisconsin appraiser and assessor; CE submitted for Michigan and Minnesota appraiser CE.

for more information, visit www.wra.org/AppCE.

Management ConferenceDecember 6, 2012 — Pewaukee if you’re a manager, owner or broker, the WRA’s Management conference is just for you! With several great sessions, you’ll gain insight into the economy and your practice relevant for today and tomorrow. You’ll learn about boosting your firm’s success with marketing, technology and more with information from various workshops offered at Management conference.

To register, visit www.wra.org/ManagementConferenceRegistration.

Broker Pre-license Coursenovember 26-29; December 10-13, 2012 the broker Pre-license course covers contracts, approved forms, trust accounts, escrow and closing statements, business management and marketing, finance and office management, personnel business ethics and much more. completing the sales Pre-license education and passing the real estate sales exam are prerequisites.

for more information and to register, visit www.wra.org/Broker_Career.

FouR WaYs To compLeTe YouR RequiReD conTinuing eDucaTion

21/course

$AS LOW AS

with member 6-pack pricing

REAL ESTATEconTinuing eDucaTion

on-DemanD

the Wisconsin ReAltORs® Association (WRA) is Wisconsin’s #1 choice for real estate education. With four convenient options, you can complete your 2011-2012 continuing education requirements with ease! Our Distance learning On Demand gives you the autonomy to take courses on your schedule and at your own pace — anywhere and anytime.

1-800-279-1972www.wra.org/ceondemand

All pricing listed above is for Wisconsin REALTORS® Association members only. Non-member pricing is based on a different scale. 4- and 6-Pack pricing only available for On Demand. Commercial CE courses not offered in On Demand 4- and 6-Pack Options. Sold only as individual courses.

1. On DEMAnDSix-Pack Discountthe six-pack option allows you to take the four mandatory classes and two elective courses of your choice for $126/member; $180/non-member. $21/course/member; $30/course/non-member

four-Pack Discountchoose any combination of the mandatory and elective courses for $92/member; $128 non-member. $23/course/member; $32/course/non-member

Individual Courseschoose any single course for the low price of $27/course/member; $35/course/non-member. commercial ce courses can be purchased individually as well.

for complete details, visit

www.wra.org/ceondemand

2. LIvEif you enjoy classroom participation, the WRA’s live courses are just for you! the WRA hosts ce courses throughout the state at various dates and times taught by Wisconsin’s finest instructors. schedule a class now! for a list of courses offered in your area, visit www.wra.org/LiveCE.

3. BOOKLET / OnLInE ExAMthe WRA’s comprehensive, easy-to-follow self-study booklets allow you to complete your ce at your own pace and on your own schedule. You can then take the corresponding exam online when you are ready. courses 1, 2, 3 and 4 as well as electives A, b, c and D are available in this handy format. $27/course/member; $35/course/non-member. www.wra.org/BookletCE

4. DvD / OnLInE ExAMcomplete ce in the comfort of your own home with the WRA’s DVD option. Watch the ce class on DVD, follow along with the outline, then take the corresponding exam online. All 2011-2012 ce courses are available through this program. $27/course/member; $35/course/non-member.www.wra.org/DvDCE

COMMERCIAL CEthe WRA’s commercial-centric ce courses are designed specifically for those who practice in the commercial real estate world and is available in classroom or On Demand. www.wra.org/Commercial

Wisconsin’s #1 cHoice FoR ReaL esTaTe eDucaTion

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WRA CE Schedule

Visit www.wra.org/CourseSchedule for full schedule and details.

Real Estate Continuing EducationDate Course Location Price October 8, 2012 2011-12 elective b – DVD la crosse call 608-785-7744October 8, 2012 2011-12 ce 2 & 1 brookfield call 800-279-1972 $27/m; $35 nmOctober 8, 2012 2011-12 elective c – DVD sheboygan call 920-457-7908October 8, 2012 2011-12 course 3 – DVD Manitowoc call 920-973-7748October 9, 2012 2011-12 ce 4 & 3 brookfield call 800-279-1972 $27/m; $35 nmOctober 9, 2012 2011-12 course 3, 4 & 2 Appleton call 920-739-9108October 9, 2012 2011-12 elective A & b – DVD Woodruff call 715-356-3400October 10, 2012 2011-12 course 1 & 2 Rice lake call 715-835-0923October 10, 2012 2011-12 course 3 & 4 lake Geneva call 262-723-6851October 10, 2012 2011-12 course 1 & 2 cedarburg call 262-375-4730October 11, 2012 2011-12 course 1 – DVD Woodruff call 715-356-3400October 11, 2012 2011-12 course 3 & 4 Rice lake call 715-835-0923October 11, 2012 2011-12 ce course 2 – DVD Janesville call 608-755-4854October 11, 2012 2011-12 ce course 3, 4 & 1 Green bay call 920-739-9108October 11, 2012 2011-12 ce elective A – DVD sheboygan call 920-457-7908October 15, 2012 2011-12 course 4 – DVD sheboygan call 920-457-7908October 15, 2012 2011-12 elective c & A – DVD schofield call 715-212-6753October 16, 2012 2011-12 elective c & D – DVD Woodruff call 715-356-3400October 16, 2012 2011-12 course 1 – DVD Racine call 262-637-4426October 16, 2012 2011-12 elective A, D & course 4 Appleton call 920-739-9108October 17, 2012 2011-12 ce course 2 – DVD Racine call 262-637-4426October 17, 2012 2011-12 electives A & b lake Geneva call 262-723-6851October 17, 2012 2012-12 course 3 & 4 cedarburg call 262-375-4730October 17, 2012 2011-12 courses 4 & 3 – DVD schofield call 715-212-6753October 18, 2012 2011-12 course 2 & 1 – DVD schofield call 715-212-6753October 18, 2012 2011-12 ce electives D & c Madison call 800-279-1972 $27/m; $35 nmOctober 18, 2012 2011-12 electives c & D Rice lake call 715-835-0923October 18, 2012 2011-12 course 2 – DVD Woodruff call 715-356-3400October 18, 2012 2011-12 course 3 – DVD Racine call 262-637-4426October 18, 2012 2011-12 elective A, D & course 3 Green bay call 920-739-9108October 18, 2012 2011-12 ce course 3 – DVD sheboygan call 920-457-7908October 19, 20112 2011-12 course 1 – DVD la crosse call 608-785-7744October 22-26, 2012 2011-12 courses 2 & 1 – DVD Mosinee call 715-693-7325October 22, 2012 2011-12 ce course 2 – DVD sheboygan call 920-457-7908October 22, 2012 2011-12 course 4 – DVD Manitowoc call 920-973-7748October 23, 2012 2011-12 course 4 – DVD Racine call 262-637-4426October 23, 20112 2011-12 course 2 – DVD la crosse call 608-785-7744October 24, 2012 2011-12 elective A – DVD Racine call 262-637-4426October 24, 2012 2011-12 electives D & c brookfield call 800-279-1972 $27/m; $35 nmOctober 24, 2012 2011-12 courses 2 & 1 Madison call 800-279-1972 $27/m; $35 nmOctober 24, 2012 2012-12 electives A & c cedarburg call 262-375-4730October 24, 2012 2012-12 course 1 & 2 – DVD West bend call 262-338-8114October 25, 2012 2011-12 course 3 – DVD Woodruff call 715-356-3400October 25, 2012 2011-12 courses 4 & 3 Madison call 800-279-1972 $27/m; $35 nmOctober 25, 2012 2011-12 elective D – DVD Racine call 262-637-4426October 25, 2012 2011-12 ce course 3 – DVD Janesville call 608-755-4854October 25, 2012 2011-12 ce course 1 – DVD sheboygan call 920-457-7908October 25, 2012 2011-12 elective A – DVD Manitowoc call 920-973-7748October 29, 2012 2011-12 elective b – DVD Manitowoc call 920-973-7748Oct 29-Nov 2, 2012 2011-12 ce courses 4 & 3 – DVD Mosinee call 715-693-7325October 31, 2012 2011-12 electives A & b Madison call 800-279-1972 $27/m; $35 nmOctober 31, 2012 2011-12 courses 1 & 2 hudson call 888-666-6566October 31, 2012 2012-12 course 3 & 4 – DVD West bend call 262-338-8114November 1, 2012 2011-12 course 4 – DVD Woodruff call 715-356-3400November 1, 2012 2011-12 courses 1 & 2 Madison call 800-279-1972 $27/m; $35 nmNovember 1, 2012 2011-12 ce 1 & 2 (commercial) Milwaukee call 800-279-1972November 1, 20112 2011-12 course 3 – DVD la crosse call 608-785-7744November 1, 2012 2011-12 courses 3 & 4 hudson call 888-666-6566November 2, 2012 2011-12 electives b & c hudson call 888-666-6566November 2, 2012 2011-12 courses 3 & 4 Madison call 800-279-1972 $27/m; $35 nmNovember 2, 2012 2011-12 course 1 & 2 brookfield call 800-279-1972 $27/m; $35 nmNovember 5-9, 2012 2011-12 ce electives b & A – DVD Mosinee call 715-693-7325November 5, 2012 2011-12 course 3 & 4 – DVD sheboygan call 920-457-7908November 5, 20112 2011-12 course 4 – DVD la crosse call 608-785-7744November 5, 2012 2011-12 course 1 & 2 schofield call 715-212-6753November 5, 2012 2011-12 course 1 – DVD Manitowoc call 920-973-7748

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Final stretch success

as we all dive into the last few months of the year, we still have time to achieve great results by committing to a huge push to the end. I just went over all the

numbers with my accountant, and I see in print what I have accomplished so far this year. And I know what I want to have accomplished by New Year’s Eve.

Start setting goals todayThis year ends in almost three months — we

have no time to waste! How do you want to finish this year? What is your goal-setting plan? Just as if you’re in the final quarter of a football game, you still have time to come out on top!

Goal-setting is key to your fourth quarter (Q4) success. Football players have a simple goal of scoring more points than the other team. However, it will take all their effort, and they cannot take any plays off, or they will lose. Our goals in real estate are a little more complicated, but can be just as difficult.

In November, I will turn 50. I made it a goal in 2012 to earn extra money to build a new rental home and experience an African safari. These two items are on my “dream board.” And when goal-setting tells you where it’s headed and what success will look like during the journey and upon arrival, goal-setting is a positive and powerful business practice. But when practiced poorly, goal-setting can negatively impact your business, and more.

Make a comebackIf you’re a sales manager, Q4 has arrived for you, too.

While your numbers may not be where you would like them to be, don’t throw in the towel just yet — good sales leaders can adapt to the economic downturn and retool to find success. I am constantly retooling to make sure I am adapting to all that comes down my road.

How to pull off this comeback? Sales managers must focus, drill and deliver in three fundamental areas. First, they must make sure that their sales team has a positive psychological mindset. Next, they must make sure that their team spends its precious selling time as effectively as

possible. Finally, they must coach their team to skillfully execute the critical “best practices” necessary to win the game.• #1: Make believers out of yourself and your team.

Give yourself and your team the best “I have a dream” speech. Sales leaders must pull everyone together — team meetings in person are my victory — and talk from the heart. Let them know that the game can still be won! Convince the team that you can lead them to victory.

• #2: Be a time-management master. Sort out their sales funnels, and create a short list. The management team, along with all of the salespeople, must

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Mortgages without obstacles.

27

by Marcus A. Wally

evaluate each individual sales funnel at the beginning of Q4 to determine which opportunities to pursue.

Q4 is about to begin, but sales revenue touchdowns and a come-from-behind victory are within grasp, even in this recessionary economy. In fact, there’s something about having a tight deadline that energizes people and helps them focus. Good salespeople love a challenge. I live my life with deadlines and rush to finish all my projects in time … it’s my “adrenaline rush.”

Harness your competitive spirit and channel it in the right way, and you’ll be amazed by what you and/or your team can accomplish by the end of 2012. Together, let’s make this quarter one of the best quarters of our lives.

Marcus A. Wally, MBA, is an active REALTOR® in St. Augustine, Florida. Marcus is the founder and broker of New World Realty, which also manages the coaching and facilitation of education classes around the world. Marcus earned his MBA from the University of North Florida in Jacksonville. He can be reached at (904) 669-1081 or at marcus@newworldrealty.com. Learn more about him at www.newworldrealty.com.

“Harness your competitive spirit

and channel it in the right way, and you’ll be amazed by what

you and/or your team can accomplish by the end of 2012.”

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During his 14 years as Wisconsin governor, Tommy Thompson was a strong supporter of REALTOR® issues. Thompson held the line

on taxes, especially property taxes, and supported legislation that promoted economic development and a strong housing market. Here’s a partial list of Thompson’s support on key REALTOR® issues.• Capital gains tax: In Thompson’s first

year as governor, the legislature tried to eliminate the state 60 percent capital gains tax exclusion. The WRA and other business groups opposed this move, and Thompson maintained the 60 percent exclusion through his executive veto.

• Uniformity clause: During Thompson’s 14 years as governor, two serious attempts were made to amend the Wisconsin Constitution’s uniform taxation clause to allow the legislature to target “property tax relief” to residential and agricultural property at the expense of commercial, industrial, second home and multifamily property owners. With Thompson’s help, the WRA and the business community defeated both efforts to allow legislators to decide who should “pay” for other’s “property tax relief.”

• Property taxes: The 1995-1997 state budget bill contained the most significant property tax relief ever adopted in Wisconsin at the time. The budget shifted $1.2 billion of school costs off the property tax to the state — without raising other state taxes. The result was a 12 percent statewide average reduction in total property taxes. Also, Thompson placed permanent cost controls on local government and schools in an effort to reduce the overall burden of property taxes.

• Fraudulent representation: Thompson signed legislation that clarified that REALTORS® cannot be held liable for misrepresentations made by sellers or other third parties in a transaction. This was perhaps the most significant REALTOR® protection of the past 25 years. Thompson signed this into law over the active and loud opposition of then-Attorney General Jim Doyle.

• Septic system regulations: Thompson supported and signed into law legislation that exempted septic systems from overly stringent and unworkable nitrate standards contained in the groundwater law, and

WRA Board Endorses TommY THompson

for U.S. SenateThe WRA board of directors voted to endorse former governor Tommy G. Thompson for U.S. Senate in the November 6 election. The board’s decision followed unanimous recommendations by the WRA Political Strategy Group (PSG) and the trustees of the REALTORS® Political Action Committee (RPAC). This recommendation has been submitted to the NAR-RPAC trustees for final approval.

68% Percentage of WRA membership that believes the WRA should endorse a candidate in the U.S. Senate election.

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repealed the DNR’s authority to veto septic-related rules promulgated

by other state agencies. This change dramatically improved housing affordability and saved rural property owners tens of thousands of dollars for replacement systems. The new technology improved the environment as well.

• Regulation of home inspectors: Thompson supported and signed into law new regulations that required home inspectors to obtain a state registration with the former Department of Regulation and Licensing, pass a competency exam, and take ongoing continuing education requirements. The WRA fully supported this legislation.

• Taxes: During Thompson’s 14 years as governor, he cut income tax rates three times and eliminated the state inheritance tax in 1987.

REALTORS® Support ThompsonSimilar to the governor’s race in 2010

and 2012, the WRA commissioned a professional survey of the membership to determine members’ opinions and candidate preferences. The 2012 U.S. Senate survey was conducted by Public Opinion Strategies (POS), a nationally recognized polling firm the WRA has used for nearly 20 years. The online survey was sent to every REALTOR® in Wisconsin, more than once, with 1,336 responding. The poll was conducted from August 17-24, 2012, and has a 2.68 percent margin of error. The survey found overwhelming support by REALTORS® across Wisconsin for Tommy Thompson.

Almost 70 percent of WRA members think the association should endorse in the upcoming U.S. Senate election. Question: “Should the Wisconsin REALTORS® Association endorse a candidate in the U.S. Senate election?”

Total Endorse 68%Total Not Endorse 31%Total Undecided 10%

WRA members strongly support Tommy Thompson for U.S. Senate.

Question: “If the election for U.S. Senator here in Wisconsin were being

held today, for whom would you vote if the election were between Tommy Thompson, Republican, and Tammy Baldwin, Democrat?”

Total Thompson 68%Total Baldwin 22%Total Undecided 10%

Wisconsin REALTORS® think the nation is headed in the wrong direction.

Question: “Generally speaking, would you say that things here in Wisconsin/the country are going in the right direction, or have they pretty seriously gotten on the wrong track?”

Total Right Direction 24%Total Wrong Track 76%

Support for Thompson came from every local association.

Question: “If the WRA decides to endorse a candidate, should they endorse ...”

Milwaukee DMA Thompson 70% Baldwin 18%Madison DMA Thompson 53% Baldwin 31%Green Bay/Appleton DMA Thompson 74% Baldwin 10%Wausau DMA Thompson 67% Baldwin 13%West DMAs

Thompson 68% Baldwin 16%As the survey shows, Thompson’s

support among WRA members is clear and overwhelming. His record on REALTOR® issues during his time in the governor’s office was the critical difference between Thompson and his opponent in this race, Congresswoman Tammy Baldwin. Baldwin is a genuinely nice person and has always been willing to meet with REALTOR® constituents to discuss our issues; but it’s Thompson’s record as governor that sets him apart.

The WRA endorsed Tommy Thompson for governor when his first ran in 1986, which was the first time the WRA endorsed a candidate for governor. We did so based on his strong support for REALTOR® issues. Now, we have endorsed Tommy again, like we have in all the elections between based on real estate-related issues. While other, non-real estate issues will certainly be important considerations for REALTORS® at the polls on November 6, our recommendation is based on business and economic issues critical to homeowners, property owners and REALTORS® in Wisconsin. It’s clear that a large majority of WRA members support Tommy Thompson and the WRA board’s decision to endorse him in 2012.

We urge you to support Thompson on November 6.

Joe Murray is Director of Political and Governmental Affairs for the WRA.

by Joe Murray

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Members of the WRA board of directors with thompson. Pictured left to right: John flor, Dan Kruse, Rob Keefe, former Governer tommy thompson, Michael Mulleady, Renny Diedrich, Paul schieldt and John horning.

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in the community

realtor

Statement of Ownership, Management and Circulation. Publication Title: Wis-consin Real Estate Magazine. Publica-tion Number: 1548-0526. Filing Date: September 2012. Issue Frequency: Monthly. Number of Issues Published Annually: 12. Annual Subscription Fee: $9.50 Members, $60 Non-Members. Complete Mailing Address of Known Office of Publication: Wisconsin REAL-TORS® Association, 4801 Forest Run Road, Suite 201, Madison, WI 53704-7337. Contact Person: Lauren Bizorik. Telephone: 608-241-2047. Complete Mailing Address of Headquarters: Wis-consin REALTORS® Association, 4801 Forest Run Road, Suite 201, Madison, WI 53704-7337. Full Names and Com-plete Mailing Addresses of Publisher, Editor and Managing Editor: Publisher: Michael Theo; Editor: Lauren Bizorik; Managing Editor: Rob Uhrina; Wis-consin REALTORS® Association, 4801 Forest Run Road, Suite 201, Madison, WI 53704-7337 (same address for all). Known Bondholders, Mortgages or Other Securities: None. Tax Status: Has Not Changed During Preceding 12 Months. Publication Title: Wisconsin Real Estate Magazine. Issue Date for Circulation Data Below: September 2012. Extent and Nature of Circulation (first number gives average of copies of single issue published nearest to filing date): Total Number of Copies (13,141; 13,319); Paid/Requested Outside-County Mail Subscriptions (11,228; 11,374); Paid In-County Subscriptions (1,708; 1,740); Sales Through Dealers and Carriers, Street Vendors, Counter Sales and other Non-USPS Paid Distribution (0; 0); Other Classes Mailed Through the USPS (0; 0); Total Paid Distribution (12,936; 13,114); Free Distribution by Mail; Outside-County (30; 30); In-County (10; 10); Other Classes Through the USPS (0; 0); Free Distribution Outside the Mail (15; 15); Total Free Distribution (55; 55); Total Distribu-tion (12,991; 13;169); Copies Not Distributed (150; 150); Total (13,141; 13,319); Percent Paid and/or Requested Circulation (99.6 percent; 99.6 percent); Publication Statement of Ownership: Publication Required. I certify that all statements made by me above are true and complete. Lauren Bizorik, Editor, September 26, 2012.

Statement of Ownership

We are launching a new section in the magazine that will highlight REALTORS® from across the state making positive contributions to the community.

Did you organize and manage a toy drive? Did you coordinate a benefit run or walk? Are you a frequent volunteer at an animal shelter? These examples and more are the types of charity involvement we will highlight in the new REALTOR® in the Community (RITC) column in the magazine.

You will be able to nominate yourself as well as nominate another REALTOR® you feel is deserving of recognition. To nominate, complete the RITC online nomination form for yourself or the REALTOR® you wish to nominate. If your nomination is selected to be published in a future issue of Wisconsin Real Estate Magazine, WRA staff will reach out to you for additional information when developing your story for the REALTOR® in the Community column.

how Do I Submit Myself or Someone?

Visit www.wra.org/ritc for the submission form as well as a disclaimer form with full rules and details. We look forward to your submission! until then, get out, volunteer, and have fun!

ReaLToR® in the communityNew magazine column is open for business!

C 2 1 . C O M

©2012 Century 21 Real Estate LLC. All rights reserved. CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An equal opportunity company. Equal housing opportunity. Each office is independently owned and operated. ©2012 United States Soccer Federation Inc. All rights reserved.

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U.S. SOCCER IS A TRADEMARK OF THE UNITED STATES SOCCER FEDERATION, INC. ALL RIGHTS RESERVED.

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