Council of Real Estate Broker Managers - Hawaii Chapter

Annual Installation Banquet

Join us for our Annual Installation Banquet
For CRB & CRS Members and guests…

 

“A Season of Giving”

Thursday, December 3, 2009
Hale Koa Hotel, Waikiki Ballroom
5:30 p.m. Cocktails
6:00 – 8:00 p.m. Dinner & Installation
Dinner music by Gail Mack and “Kolea”
8:30 p.m. Entertainment by “A Touch of Gold”

Click here to download a registration form for more details.
Or call and register over the phone: #733-7060, ext. 0

Registration Deadline: November 20, 2009

This year we are supporting the Marine Corp. and Salvation Army in the collection of new toys for “Toys for Tots Hawaii”. Bring a toy and brighten a child’s Christmas.

Installing these members for 2010:

Hawaii CRB Chapter:
President - John Harris, CRB
Immediate Past President - Rowena Cobb, CRB, CRS, GRI
President Elect – Fran Villarmia-Kahawai, CRB, CRS, GRI
Treasurer – Edmund Wong, CRB, CRS
Secretary – Lurline Johnson, ABR, CRB, CRS, GRI
Director – Colleen Chun, CRB, CRS, GRI
Director – Moana Andersen, CIPS, CRB, CRS, GRI
Director – Laurie Lowson, ABR, CRB, CRS

Hawaii Aloha Chapter of CRS:
President – Joan Matsuoka, ABR, CRB, CRS, GRI
Immediate Past President – Cindy Rees-Ouchi, CRS
President Elect – Julie Meier, ABR, CRS, GRI
Treasurer – Grant “Kapono” Kanoho, CRS
Secretary – Denise Miyahira, CRS
Directors At Large:
Donna Apisa, CRB, CRS, GRI
Kelly Shaw, ABR, CRS, GRI
Julie Hugo, ABR, CRS
Joanne Foxxe, CRS
Shannon Heaven, ABR, CRS, GRI
Jennifer Lee Busto
Lorraine Fukumae, CRS, GRI
Wendell Wong, CRS, GRI
Randy Prothero, ABR, CRS, GRI
Karen Uehara, ABR, CRS, GRI

Sponsored by:

CRB Webinars

Complimentary for Council Members!

e-Roundtable: "Secrets to Success"
Tuesday, October 20, 2009

Webinar: "How to Create FREE Web Sites for Recruiting New and Experienced Agents"
Tuesday, November 3, 2009

e-Roundtable: "How to Create a 'Virtual' Real Estate World for Your Staff and Team"
Tuesday, November 24, 2009

Do You Understand the Contract?

by Mike Grant & Shelley Dawson, CSI 
www.costelloandsons.com
888.688.0607

It is an interesting fact that while most REALTORS® study sale and purchase contracts and contract changes ad nauseum, few ever take the 20 minutes to read their Errors and Omissions (E&O) insurance contract.  As a result, many are surprised when they find out that some of the services they offer, such as property management or business brokerage, and certain transactions, like agent-owned properties or sale of condos, are not covered by their E&O policy. 

Unfortunately, the real estate industry is currently going through some confusing and controversial times.  Consumers may be looking for someone to blame for losing their jobs or losing their homes. If the purchase transaction is disputed, or if the threat of foreclosure is nearby, the person that the homeowner likely will remember from the transaction is the REALTOR®. The face the consumer will connect or remember will be yours! During the purchase of the home, REALTORS® are often the only “human” contact a consumer has during the transaction.   As a result, you may be sued in hopes of passing the blame off on someone else.

This much we know to be true—California is a litigious state. While you are not expected to be a legal expert, an expert in appraisal, or a fortune teller for what may or may not happen after the contract is signed, you are expected to educate yourself about the current legal challenges facing the industry so you can protect yourself.

Do you know what your E&O policy includes or covers? Are you sure?  Do you want to wait until the lawsuit is filed before you find out? Although the housing market in California is not what it was five years ago, REALTORS® are not closing as many transactions as before,  and many are looking for alternative sources of income .  For those still in the trenches, now is the time to review, reassess and plan ahead to protect for the future.   Now is the time to pick up your E&O policy and read it.

Ask yourself the following questions about your current E&O Insurance policy (including all the endorsements). Do you know the answers?

• Are all the types of transactions I’ve done over the last five years (and those I plan to do in the year to come) scheduled as “covered services” on my policy?
• What coverage do I need to list an REO property?
• Is there a deductible reduction feature on the policy?  Is it related to specific home warranty companies?  Does it require signed seller disclosures? 
• What (if any) limitations are there related to the sale of agent-owned property?  Does the property need to be listed by another agent?  Does the property need to be held for a certain period of time?  What other things must be done for coverage to apply? What do I do in the event of a claim? Who do I call?  How soon do I need to report it?
• Has my commissionable income changed in the last five years?

As people are losing their jobs, having their credit ruined, and are losing their homes, they may look for someone to blame.  As such, REALTORS© have a “bulls-eye” square on their backs.  Make sure you know what your E&O policy covers and what it does not.  Brokers: understand your policy’s limitations and communicate them to your agents.  Agents:  ask your employing Broker or Office Manager about what is covered under your contract.    If called into mediation or arbitration, stating on the record “I don’t know,” is not an acceptable response.

Costello and Son’s Insurance (CSI) will review your current policy for FREE. CSI is the California Association of REALTORS® (C.A.R.) only endorsed property and casualty broker. CSI is a “one-stop-shop” for all of your business insurance needs.

Hawaii CRB Member Featured

Hawaii CRB President-Elect John Harris was featured in an article by Tiffany Stochel in the July Real Estate Business entitled Juggling the International Real Estate Market.

The real estate market bridges borders as well as cultures, making it truly global. Cross-border migration is commonplace today, both for businesses and people, with more than 4 million U.S. citizens living abroad.

And with more and more people looking to find and purchase real estate outside of their home country, working with international buyers and sellers is something of which real estate professionals must be aware and become knowledgeable.

CRB members, read further

 John A. Harris, (R) CRB is Broker/Owner of RE/MAX Honolulu.

A Thank You From HCCF

Dear Hawaii CRB,

On behalf of Hawaii Children's Cancer Foundation (HCCF), the children we serve, and our Board of Directors, we wish to express our most sincere heartfelt appreciation for your generous donation of $8,326.72 that resulted from the CRB's efforts at your golf tournament. We are most appreciative of your ongoing and continuous support.  Your generosity enables us to provide even more support and assistance to the families at a very difficulty and challenging time in their lives.

HCCF is the only organization in the state of Hawaii whose exclusive focus is children with cancer and their families.  Your donation helps up provide financial assistance, emotional support, education, and advocacy for our children and families who face this devastating disease.  We depend entirely upon individually donated funds, community and corporate contributions and grants to run our programs and services.

Thank you from all of us for your generosity and your continued support.  Your help is powerful in the lives of children with cancer...because kids can't fight cancer alone!

Sincerely,

Dale F. Saito
President
www.hccf.org

Don't Miss This Rare Opportunity!

Social Media Revolution

Real Estate Office Management, Fourth Edition

Real Estate Office Management offers practical, experienced-based strategies and techniques for managing virtually every aspect of a real estate office.

• Analyzing Real Estate growth patterns.
• Leadership, planning, organizing and communicating.
• Marketing and utilizing statistical records.
• Mergers and acquisitions.
• Record keeping and financial systems.
• Recruiting, agency types, and training.
• Retaining, motivating, and terminating employees.

For more information and to order your copy, visit the CRB e-Marketplace.

2009 Hall of Leaders & Inaugural Cocktail Reception & Dinner

Join your fellow CRB Hawaii members for a memorable evening as we honor the 2009 Hall of Leaders recipient, Norm Flynn, CIPS, CRB, CRE, GRI, President & CEO of the International Real Property Foundation (IRPF) and President of Norman D. Flynn & Associates, Inc. and install our 2010 Council President, John D. Mayfield, ABR, ABRM, CRB, e-PRO, GRI, President of Mayfield Real Estate.

The Hall of Leaders Award was established in 2000 to honor CRB Designees whose significant contributions continue to shape and impact the real estate industry locally and nationally.The Award is traditionally presented during the annual REALTORS® Convention in November of each year.

The event will be held at the The 2009 REALTORS® Conference & Expo November 13-16 in San Diego, CA.

Date: Friday, November 13, 2009
Time: 6:30 - 10:00 pm
Place: Omni San Diego

To purchase tickets,visit: http://www.crb.com/newsandevents/events/tickets/purchase.aspx.  To connect with other Hawaii attendees, contact Crystal Lancaster@ (808) 733-7060 ext. 105.

HICentral reports...

Accredited Buyer Representative Designation with Curtis Hall: The ABR Designation: For Real Estate Buyer Agents. Turn Real Estate Into a Buyer's Dream. Accredited Buyer Representative Designation Program on July 27, 28 & 29, 2009. (Monday, Tuesday & Wednesday). Package for All Three Days - Only $379. http://www.hicentral.com/pdfs/Education-ABR.pdf

Social Media: These links listed below may be of interest to members. They may be presented by independent organizations; if so please contact these organizations directly for more information. REALTOR® Magazine's "Master Social Networking for Your Real Estate Business"
Webinar "Use Social Media to Get Results" on July 30
REALTOR® Magazine's "Google Makes Finding Real Estate Pros Easier" (Details on Google Profile)

NAR: Early Registration for NAR's 2009 REALTORS® Conference and Expo: REALTORS® will gather November 13-16 in San Diego for the 2009 REALTORS® Conference and Expo "Chart a Winning Course"! This year's conference presents hundreds of programs, products, and services based on the latest real estate trends and issues. There will be four days of intensive training from real-world speakers in top-rated sessions; speakers include Condoleezza Rice, Sugar Ray Leonard, and more! Registration is now open. Early registration deadline is August 15 - register now and save! www.REALTOR.org /convention.nsf.