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Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

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Missouri Real Estate News: Ballot Proposition Sponsored by the Missouri Association of REALTORS to Ban Transfer Taxes on Sale of Real Estate Rejected by Missouri Secretary of State due to Insufficient Signatures

08-03-10
Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

Ballot Initative to Ban Transfer Taxes

The Missouri Association of REALTORS, sponsor of a proposed state constitutional amendment to prohibit transfer taxes on the sale of real estate, announced today that it would file a lawsuit challenging the Missouri Secretary State's rejection of the ballot petition due to insufficient signatures. On Monday, the Missouri Secretary of State announced that the ballot petition, known as Vote “YES” To Stop Double Taxation, failed to secure enough signatures of registered voters to qualify for the November ballot.

The Vote “YES” To Stop Double Taxation Committee collected thousands of petitions across six of the state’s nine congressional districts. The Committee plans to file a lawsuit in Cole County Circuit Court, asking that the petition signatures be declared sufficient. The suit will also ask the court to count signatures rejected by the Secretary of State due to petition circulators not being registered with the state.

“With the large volume of thousands of signatures of supportive voters and the deadline pressure scores of local election authorities faced to check the signatures, there will inevitably be mistakes, and we believe mistakes happened,” said Chuck Hatfield, attorney for the Vote “YES” To Stop Double Taxation Committee. “We owe it to the tens of thousands of Missouri voters who signed the petitions and worked hard on the issue’s behalf to go out and review the signatures and correct the mistakes,” Hatfield said. “We are committed to putting this important question before voters, so they have a chance to protect themselves from double taxation.”

Missouri remains among just 13 states that do not impose a transfer tax on real estate sales. The past legislative session included several proposals to impose a transfer tax on new construction. Lafayette Square REALTOR Michelle Silies commented "the imposition of a tax on the on the sale of real estate will only increase the costs associated the sale of one's home." Ms. Silies further stated "proposals for transfer taxes could not come at a worse time for homeowners already trying to sell their home in this challenging market."

Learn more about the amendment at www.YesToSaveHomes.com.

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@Home in Historic St. Louis - Speechless Sunday - N. Grand Water Tower - St. Louis, Missouri

07-24-10
Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

North Grand Water Tower

North Grand Water Tower

HISTORY OF WATER TOWER: This 154 foot Corinthian brick column, known as the North St. Louis Water Tower, is located at North Grand Blvd. and 20th Street in North St. Louis. The water tower was built in 1871 at a cost over $45,000. From 1871 to 1912, the water tower was used to create pressure to pump water from the Mississippi River at Bissell's point to the Compton Hill Reservoir at South Grand Blvd. and Arsenal. It was taken out of service in 1912 when electric water pumps replaced the original stealm pumps at Bissell's point. In 1929, it was put back into service as an air beacon. After being threatened with demolition, it was listed on the National Register of Historic Places in 1970.

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Recycling Electronics in Lafayette Square

07-24-10
Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

WITS - Electronic Recycling

This month, we focus on a local non-profit Web Innovations and Technology Services ("WITS") who is the largest non-profit electronics recycler in Missouri. Under Missouri law, electronic equipment such as computers, televisions, cell phones, cordless telephones, and monitors are classified as "hazardous waste" and must be collected and disposed by regulated collection sites because electronic equipment often contains heavy metals such as cadmium, lead, and even PCBs. Although there are a number of commercial electronics recyclers in the St. Louis area, there is only one with a strong track record of re-use and recycling.

Here are some of WITS' achievements:

  • In 2009, WITS refurbished and reused over 3,500 computers and other electronics. Since 2004, WITS has refurbished and reused over 20,000 computers and electronics. These refurbished computers and electronics have been sold or given away to residents in local communities.
  • Over 8,000 volunteers and residents have helped promote or support WITS or donated to WITS programs.
  • In 2009, WITS diverted over 6.5 million lbs of electronic components from landfills and waste streams by refurbishing electronics, by disassembling electronics, and by re-manufacturing products for other uses. Since, 2004, WITS has diverted over 20.5 million lbs. of electronic components from landfills and waste streams.
  • 65% of electronic items donated to WITS are reused. 35% of electronic items donated to WITS are demanufactured and sold for new product uses.
  • WITS has created over 365 new jobs since its inception.
  • 1,250 low-income families have volunteered at WITS events to earn a computer, TV or other working electronic item.

Here are some of the ways that St. Louis real estate professionals can benefit from WITS' recycling programs:

  • Electronic Disposal: Dispose of old, used and inoperable electronic equipment in a safe, environmentally friendly manner. Other commercial recyclers charge disposal fees. WITS does not charge for the disposal of most electronic items delivered to the WITS' facility or delivered to a WITS' collection site.
  • Tax Donation: Receive a charitable donation letter summarizing the fair market value of the donated item for use as a charitable tax donation
  • Onsite Electronics Pick-Up: If you require pick-up service, WITS charges $50-$100 per box truck for all business pickups, $30-75 for residential pick-up with a 1 hour drive.
  • Purchase Refurbished Electronic and Other Items: Purchase refurbished computers (from $60), laptops (from $100), and LCD Monitors (from $25). Other items including televisions, radios, stereos, fans, heaters, lawn equipment, etc. are available starting at $5.
  • Home CleanOut: If you work with seniors or sell home in probate estate, WITS offers a low flat fee ($100) pick-up service of all household items. WITS then repackages and delivers such non-electronic items as clothing, household furniture, etc. to other non-profits.

Other WITS's programs:

  • Volunteer for Computer Program: Volunteers who agree to work at WITS' facility or WITS' events for 65 hours receive a free computer or other electronic item. Senior, veteran and disabled volunteers can work from home placing telephone calls and earn a free computer after 45 hours of volunteer time.
  • Student Program: Eligible low income students accepted to college and maintain a B+ average receive a free computer.
  • Kids with Kancer Program: Chronically ill children age 8 to 18 suffering from cancer and hospitalized or receiving full-time home care are eligible to receive a free laptop.
  • Seniors Program: WITS receives applications from seniors and donates 1 computer system per month to seniors in need of a computer.
  • Computer Exchange: Non-profit organizations, schools and churches can exchange used, old and inoperable computers for new computers.
  • Revenue Sharing: Non-profit organizations, schools and churches can act as event organizers or collection sites and receive a percentage of the income generated from the recycling of electronic items.

If you are interested in learning more about WITS, visit their facility at 647 E Holly Avenue, St. Louis, MO 63147 (2 blocks from N. Grand and Hwy 70), their website at www.witsinc.org, or their upcoming recycling event in Belleville, Illinois on August 8 or Chesterfield, Missouri on August 28.

WITS - Electronic RecyclingWITS - Electronic Recycling

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What is Your Home in the City of St. Louis Worth?

07-16-10
Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

This site provides you with an estimated value based on modeling. The comparable sales used to determine the estimated market value may or may not be comparable and the estimated fair market value may not reflect recent changes in market conditions. In addition, the estimated market value and the optimum list price may be different. Data provided by First American Core Logic. Home valuation provided courtesy of PREA Signature Realty.

Need a more precise analysis of the optimum list price for your historic home, townhome, condominium or loft in the City of St. Louis? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or via e-mail to Ryan@PREASignatureRealty.com.

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Non-Profit Management Series - The Evolution of Leadership

07-10-10
Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner

AUTHOR'S NOTE: This article was written for a real estate association newsletter and is directed at newly elected association officers. However, the concepts are the same whether it is a leader of a team, brokerage, committee or association.

Leaders aren’t born. Leaders evolve and grow over time. So, the question is: How do I become a leader?

STAGE 1 – PARTICIPATION. It is not often that someone joins an organization and is instantly recognized as a leader. It starts on a much smaller scale. It starts by attending meetings, making connections, and building relationships. It isn’t about showing up. Like effective networking, it requires a plan and active participation. It requires a commitment of both time and effort. It is all about service, making commitments, taking an action and delivering results. For example, if you attend sporadically, arrive late and leave early, and don’t participate, then you aren’t really participating and your time and effort is being wasted.

STAGE 2 – SEEK OUT A MENTOR. Depending on your experience or length of service, you may want to seek out a mentor or advisor. The mentor or advisor relationship can be a formal or informal relationship. Often, it is simply a person willing to answer questions or willing to act as a sounding board. Information and insights on the traditions of the organization and on the group dynamic are invaluable. Without such information, it would be like a child playing a game without knowing the rules. More importantly, a good mentor or advisor will assist you in identifying opportunities to take on a greater role within the organization and will encourage and challenge you to reach within and go beyond your comfort zone. Access to other leaders is also an important aspect of the mentor relationship. It opens doors and creates opportunities. More importantly, it allows you to make informed decisions on how to capitalize on opportunities.

STAGE 3 – MAKE AN IMPACT. After participating in the organization, the next step in the evolution of a leader is often accompanied by action that makes an impact on the organization. Participation leads to access and opportunities. If opportunities aren’t presenting themselves, then you need to make your own opportunities. To do so, you must first understand the mission of the organization and the dynamics of the group. You must be willing to play a role and to make a contribution in that role. It is important to step up and fill a need of the organization. As you start to contribute, your contributions will be recognized and you will have a greater role and progressive responsibilities within the organization. However, your contributions may not be fully recognized unless you are organized and take a serious professional approach. Greater opportunities will present themselves to people who play a role, who have a niche and who are willing to contribute to the success of others – whether or not the contribution or role is recognized immediately or not.  

STAGE 4 – TAKE RISKS – DEVELOP A LEGACY. At this stage, you will need to articulate a vision for the organization. By doing so, you will necessarily need to take a risk. Your priorities and agenda may differ from other leaders in the organization. There will always be a risk of rejection and a fear of failure at this pont It is at this point that you will need to build a consensus. This doesn’t always occur at a meeting. Often, it occurs informally. It requires preparation and planning. Before you present an initiative, you need to ask:

(1) Is there a need? Or, does it solve a problem?

(2) Does it further the mission of the organization?

(3) Do we have the resources – money, time or personnel – to do it right?

(4) Will stakeholders buy into the initiative?

After you have answered these questions, then proceed by proposing and implement an initiative. It isn’t about getting it done – it is about getting it done in an exemplary manner. Every leader needs to establish a legacy to answer the question – Did I leave the organization in a better position than when I started?

STAGE 5 – PREPARE FOR LEADERSHIP POSITIONS. At some point in your development as a leader, you may have to submit an application for an appointment, meet for an interview or stand for election. Here are some tips for seeking an appointment or being elected within an organization:

  • Build a strong legacy of service with quantifiable results.
  • Maintain and continually update your resume or curriculum vitae. Keep it simple, straightforward and accurate.
  • Understand the duties, responsibilities and time commitment of the position that you seek.
  • Assess your skills. Seek a position that matches your skills. Be the right person for the right job, not just any job.
  • Manage your time. Don’t try to be everywhere. Limit your commitments.
  • Make sure that your family and business commitments are met or managed.
  • Understand the selection process. Know the participants in the process. Understand the rules associated with the process.
  • Seek out mentors and advisors to guide you. Ask others for assistance and advice.
  • Develop a team to assist you. Don’t try to do it all yourself.
  • Think strategically. Consider timing and the strengths of others seeking the same office.
  • Delegate campaign tasks to others.
  • Create a vision and professional message. Show (not tell) your qualifications for the position. Share your goals and priorities for the office that you seek.
  • Use testimonials and endorsements, if appropriate.
  • Prepare for the nominating interview. Review sample questions. Write out answers to possible interview questions. Anticipate and plan for questions that relate to perceived weaknesses. Role play questions and answers so you are comfortable with your responses. Pay attention to the words you use in the interview. With limited time, errant words may be misconstrued.
  • Take a copy of your nomination application, consent to serve, resume or curriculum vitae, or other credential forms to the nominating interview.
  • Prepare for your public speech. Develop a theme to your comments. Make your comments short and concise. Avoid flowery phrases and clichés. Offer tangible examples of your past accomplishments and priorities for the future.
  • Communicate your priories to supporters, key leaders in organization and general membership. Tailor the method of communication, number of contacts and message to the targeted audience. Make sure the message is consistent.
  • Be judicious in the language used.
  • Be gracious whether you win or lose. Today’s opponents may just be tomorrow’s supporters. Be sure to thank your supporters, mentors, etc. for their advice and assistance.

STAGE 6 – YOU KNOW YOU HAVE MATURED AS A LEADER WHEN… Leadership styles evolve over time. You know that you have matured as a leader when you:

  • Limit your commitments to manageable levels.
  • Establish a clear agenda for your work. Are able to communicate your vision and goals to others.
  • Set and communicate reasonable expectations for yourself and others. Require accountability of yourself and others. Track progress toward goals.
  • Learn to delegate tasks and share responsibility. Are able and willing to acknowledge contributions and share praise.
  • Build consensus without compromising core values. Are committed to decisive action.
  • Focus on progress, not perfection.
  • Pick battles in a judicious manner. Learn when and when not to speak out. Focus on issues, not people. Maintain a professional and civil tone. Think before speaking or sending e-mails. Sound a conciliatory tone to create cohesiveness.
  • Motivate others to exceed expectations for their position.
  • Focus on the right person with the right skills when filling positions.
  • Develop a bold and aggressive vision for the organization. “Give back” to profession is sole focus.
  • Encourage and support the development and personal growth of the next class of leaders.
  • Act in the best interests of the organization as a whole.
  • Take a long-term, strategic view on issues. Understand the big picture. In the end, leaders understand the nature and demands of leadership and service and never stop evolving as leaders.

NEED TRAINING MATERIALS FOR NEW OFFICER ORIENTATION? Contact Ryan Shaughnessy at PREA Signature Realty at 314-971-4381 or via e-mail to Ryan@PREASignatureRealty.com for more information.

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