TUESDAY, SEPTEMBER 3, 2024

Here's what's happening this week at the

Citrus Valley Association of REALTORS®

CLASSES & EVENTS

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CHANGES TO THE RPA

Thursday, September 5th

Join us as Certified C.A.R. Forms Trainers Joseph Limo and John D. Reyes guide you through the critical details and changes of the Residential Purchase Agreement. Learn the specifics of the changes to the forms and how to use them for your buyer interactions.

REGISTER HERE

PROBATE & LIVING TRUST FOR REALTORS®

Friday, September 6th

Discover the Probate Process from A to Z! Learn how to protect and maximize your commission, understand title vesting, and get familiar with key probate terms, timelines, and more. Register today!

REGISTER HERE

COMMERCIAL REAL ESTATE (NCREA)

Tuesday, September 10th

This class is perfect for residential agents and brokers looking to master the buyer’s side of Commercial Real Estate, led by Michael Simpson of NCREA. Learn about Buyer ROI Analysis, cap rates, investor types, and more—all while earning 7 CE credits. Hope to see you there!

REGISTER HERE

Waterfront Premium: Did you know homes on the waterfront sell for anywhere between 25% to 80% more than those inland?

For any questions on the donation drive, please contact our Director of Education and Events, Nancy Oakley at NOakley@cvar.net

REGISTER HERE

Passionate about shaping the future of Citrus Valley Realtors? Join one of our vibrant committees and help grow our community! Bring a donation for Shepherd's Pantry and enter to win a fantastic raffle prize. Make an impact, connect with fellow members, and support a great cause. Don’t miss out!

COMMITTEE APPLICATION

NEW AND FEATURED ARTICLES

Photo Credit: C.A.R.

NEW FORMS & BUSINESS RESOURCES

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PENDING HOMES SALES DROPPED 5.5% IN JULY

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Photo Credit: N.A.R.

CALL TO ACTION FROM N.A.R.

The N.A.R. has launched an important Call for Action, asking Congress to support H.R. 5419, the Direct Seller and Real Estate Agent Harmonization Act. This bill is crucial for protecting our independent contractor status under the Fair Labor Standards Act (FLSA) and aligning it with the Internal Revenue Code. This means we can keep running our real estate businesses without the confusion of conflicting rules. Make your voice heard and help preserve our independent contractor status by responding to N.A.R’s Call for Action here. Let’s work together to ensure our industry stays strong and stable!

Photo Credit: C.A.R.

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CALL TO ACTION FROM C.A.R.

C.A.R.-Sponsored AB 2992 Passes Out of Key Fiscal Committee

Apart from the state's budget process, there exist two key fiscal committees in the State Legislature - the Senate Appropriations Committee and the Assembly Appropriations Committee. Both Appropriations Committees have a unique feature called the Suspense File to which they temporarily send any bill that is determined to have a significant fiscal impact on the state. Votes regarding whether to hold or pass these bills are made during Suspense File hearings, which are held twice a year. Both Appropriations Committees held their final Suspense File hearings of this legislative session on August 15, 2024.

C.A.R.-sponsored AB 2992 (Nguyen) was placed in the Suspense File and unanimously passed out of the Senate Appropriations Committee during its Suspense File hearing.

AB 2992 mandates buyer-broker representation agreements for all real estate licensees in California. The bill would require such agreements to be signed as soon as practicable, but no later than the submittal of an offer to purchase property. The agreements are time limited to three months with three-month renewal options available. Mandatory buyer-broker agreements provide transparency and fairness regarding duties and agent compensation and will greatly enhance the buyer-broker agency relationship. AB 2992 will now head to the Senate Floor.