Jeremy Williams - Assistant Team Leader

Rock Star Rick Raanes of Keller Williams The Woodlands and Magnolia invites the agents from the office to the Thirsty Thursdays event celebrating March birthdays taking place on March 8th at Rico's (Indian Springs - The Woodlands, TX). The event will be 5:00pm - 7:00pm. Barbara Price with Allied Home Warranty is the sponsor for the event. Agents from Keller Williams The Woodlands and Magnolia will enjoy a nacho bar, quesadillas, and chicken flautas. Agents are responsible for alcohol purchases, and Rico's is offering $1.99 house margaritas for the Thirsty Thursdays event.

Future KW The Woodlands and Magnolia Thirsty Thursdays events sponsored by Barbara Price with Allied Home Warranty include Genuwine in April and Rico's Sawdust location in May.

This morning was the 1st Tuesday Mentoring Group for agents of Keller Williams Realty The Woodlands and Magnolia. Our sponsor for the meeting was Dawn Pickett of Old Republic Home Warranty. Dawn was gracious enough to provide a wonderful spread of bagels and pastries from Panera bread. The 1st Tuesday Mentoring Group is hosted in the spacious conference room at The Woodlands Home Finder Center at 2000 Woodlands Parkway, The Woodlands, TX 77380.

Also in attendance of the 1st Tuesday Mentoring Group meeting was Laura Clark and Nancy Jackson with Network Funding. Networking Funding recently opened a branch at the KW The Woodlands office.

This morning we talked about mythunderstandings and the truth about the real estate profession. These mythunderstandings can be found in Gary Keller, Dave Jenks, and Jay Papasan's book, The Millionaire Real Estate Agent. The meeting also focused on the importance of scripts in our businesses which also led into a short discussion about prospecting to different people based on their DISC.

The location and dates for BOLD have been set. You will want to make sure that you attend BOLD First Step on April 16th. Additional details regarding this event that will change your business and life will be coming out in the next few days. Watch this short video.

After going over scripts that can be found in the Ignite book, KW The Woodlands and Magnolia agents were tasked to make one phone call to someone on their cell phone utilizing one of the scripts provided. Three agents out of the group had success utilizing the scripts. This was an incredible return for each agent only making one call. It is inspring to know that if each agent focused for 3 hours a day doing what these agents did in 15 minutes, the result would be building careers worth having, businesses worth owning, and lives worth living.

Knowing scripts are critical in building a successful business, check out these videos with David Norberg. Pay attention to his discipline in utilizing scripts and note the environment he has created to foster success.

For more information about how you can grow your real estate business, contact Jeremy Williams, Assistant Team Leader of Keller Williams The Woodlands and Magnolia at jeremyw@kw.com or 281-364-1588.

Real estate contracts are constantly being updated and changed over time to provide protection to all parties involved in a transaction. It is important as a real estate agent, either new or experienced, to stay up-to-date on these changes. The agents of Keller Williams The Woodlands and Magnolia have the opportunity to stay on top of these changes by attending the advanced contract classes taught by General Manager, Michael Clapp, at the C.R.E.M. training facility that supports the following offices: Keller Williams The Woodlands and Magnolia, Keller Williams Professionals, and Keller Williams Realty Northeast.

Watch this short video of Michael Clapp introducing the Advanced Contracts class.

Here are the changes sent out by TAR on February 29th.

TAR sent out an email yesterday reminding us of the revised forms that become effective today. Forms that have changed are:

• Residential Real Estate Listing Agreement, Exclusive Right to Sell (TAR 1101);

• Residential Real Estate Listing Agreement, Exclusive Right to Lease (TAR 1102);

• Farm & Ranch Real Estate Listing Agreement, Exclusive Right to Sell (TAR 1201):

• Request for Information from an Owners' Association (TAR 1405),

• General Information and Notice to a Buyer (TAR 1506

On the Request for Information from an Owners' Association (TAR 1405), a buyer now has the ability to request subdivision information from a homeowners association.

On the General Information and Notice to a Buyer (TAR 1506), the text in the "Mandatory Owners' Associations" paragraph says that the buyer may obtain subdivision information but may be required to pay for it unless otherwise stated in the contract.

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Summary of Changes to TAR Forms Library

TAR 1101

(1)

In paragraph 2: mirror language in the TREC 1-4 Family Residential Contract (Resale).

(2)

In paragraph 5: replace the term "fee" with "compensation" and remove "transaction fees"

(3)

In paragraph 6: Add a new subsection B as follows:

B. Seller instructs Broker not to file this Listing with one or more Multiple Listing Services until ___ days after the date this Listing begins for the following purpose(s): _________.

(NOTE: Do not check if prohibited by Multiple Listing Service(s)).

(4)

In paragraph 11: Add new subsections B and C as follows:

B. Broker is authorized to display this Listing on the Internet without limitation unless one of the following is checked.

(1)Seller does not want this Listing to be displayed on the Internet.

(2)Seller does not want the address of the Property to be displayed on the Internet.

Notice: Seller understands and acknowledges that, if box 11B(1) is selected, consumers who conduct searches for listings on the Internet will not see information about this Listing in response to their search.

C. Broker is authorized to market the Property with the following financing options:

(1) Conventional (5) Texas Veterans Land Program

(2) VA (6) Owner Financing

(3) FHA (7) Other

(4) Cash

(5)

In paragraph 12: Add new subsections E and F and strike current F:

E. Seller is current and not delinquent on all loans and all other financial obligations related to the Property, including but not limited to mortgages, home equity loans, home improvement loans, homeowner association fees, and taxes, except_____________________________;

F. Seller is not aware of any liens or other encumbrances against the Property, except_________________________________________ [there are no delinquencies or defaults under any deed of trust, mortgage, or other encumbrance on the Property];

(6)

In paragraph 13: Amend Subsection D as follows (new text underlined, deleted text struck through):

13.Seller’s Additional Promises: Seller agrees to:

D. not enter into a listing agreement with another broker for the sale, exchange, [or] lease, ormanagement of the Property to become effective during this Listing without Broker’s prior written approval;

(7)

In paragraph 14: Add a new subsection B 2 and 7:

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(2) other brokers or their associates who may have information about the Property on their websites;

(7) Seller, negligently or otherwise.

(8)

In paragraph 16: change the term "fee" to "compensation"

(9) In paragraph 20C: change the term "fee" to "compensation"

(10) In paragraph 21:

Amend subsection A to change the term "fee to "compensation"

Add a new subsection C:

C. Broker advises Seller to contact any mortgage lender or other lien holder to obtain information regarding payoff amounts for any existing mortgages or liens on the Property.

Amend subsections C and D (new text underlined, deleted text struck through):

[C]D. [Seller may]Broker advises Seller to review the information Broker submits to an MLS or other listing service."

[D]E. Broker advises Seller to remove or secure jewelry, prescription drugs, and other valuables, firearms and any other weapons.

(11) Add a new line for "Broker’s Associate’s Printed Name" under the "Broker’s Associate’s Signature" line at the end of the form.

TAR 1102

(1)

In paragraph 5: same as 1101

(2)

In paragraph 6: same as 1101

(3)

In paragraph 11: Add new subsection B as follows:

B. Broker is authorized to display this Listing on the Internet without limitation unless one of the following is checked.

(1)Landlord does not want this Listing to be displayed on the Internet.

(2)Landlord does not want the address of the Property to be displayed on the Internet.

Notice: Landlord understands and acknowledges that, if box 11B(1) is selected, consumers who conduct searches for listings on the Internet will not see information about this Listing in response to their search.

(4)

In paragraph 11B(5): changes ‘fees" to "compensation"

(5)

In paragraph 12: same as 1101,using the term Landlord.

(6)

In paragraph 13: same as 1101

(7)

In paragraph 14: same as 1101

(8)

In paragraph 16: same as 1101

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(9)

In paragraph 21C: change the term "fee" to "compensation"

(10)

In paragraph 22:

Amend subsection A to change the term "fee to "compensation"

Amend subsections C and D (new text underlined, deleted text struck through):

C. [Landlord may]Broker advises Landlord to review the information Broker submits to an MLS or other listing service.

D. Broker advises Landlord to remove or secure jewelry, prescription drugs, and other valuables, firearms and any other weapons.

G. …to test the smoke detectors alarms each time a new tenant…

(11)

Add a new line for "Broker’s Associate’s Printed Name" under the "Broker’s Associate’s Signature" line at the end of the form.

TAR 1201

(1) In paragraph 2B: same as 1101

(2) In paragraph 2C: same as 1101

(3) In paragraph 5: same as 1101

(4) In paragraph 6: same as 1101

(5) In paragraph 11: Same as 1101

(6) In paragraph 12: Same as 1101

(7) In paragraph 13: Same as 1101

(8) In paragraph 14: Same as 1101

(9) In paragraph 16: Same as 1101

(10) In paragraph 19: remove Subsection I.

(11) In paragraph 21C: changes the term "fee" to "compensation"

(12) In paragraph 22: Same as changes to paragraph 21 in 1101

(13) Add a line for "Broker’s Associate’s Printed Name" under the "Broker’s Associate’s Signature" line at the end of the form.

TAR 1405

(1)

Added ability of buyer to request subdivision information from owners’ association.

(2)

Added the word "business" before the word "day" in the sentence regarding delivery of requested information.

TAR 1506

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(1)

Inspection, Repairs, and Walk-Through paragraph: added "and any timing of the obligation"

(2)

Mandatory Owners’ Associations paragraph:

Added "You may obtain subdivision information (the restrictions applying to the subdivision, the bylaws and rules of the owners’ association, and a resale certificate). You may be required to pay for the subdivision information unless you negotiate otherwise in the contract."

Struck: "You may obtain copies of any deed restrictions and owners’ association rules from the county clerk, the title company you use in the transaction, or the owners’ association. "

(3)

Possession paragraph (underlined new text; struck deleted text):

Most contracts provide that the seller will deliver possession of the property to the buyer at the time the sale closes and funds or according to a temporary residential lease. There may be [Sometimes there is] a short delay between closing and actual funding; especially if the buyer is obtaining funds from a lender.