Help put a smile on a child’s face

  On a very cold January Tim and I packed up our things and moved out the Western Mass so that I could attend UMass.  We didn’t realize how that move was going to change our lives.  You never know where the road is going to take you or who is going to come across your path.  Over the last 16 years we have been very fortunate to meet and help so many amazing individuals.  Both as real estate Brokers and instructors.
 One of Liz’s very first clients his name is Robert Charland.  He’s a single Dad in Springfield.  He’s made it his life mission to give back to the youth of Greater Springfield.  He has been a girl scout troop leader, softball coach, mentor, teacher and he donates his time when and where ever he can.
  A few years ago he started to collect used bike and repair them on his own time.  He’s been able to donate 68 bikes to children in the local area.  He recently started a non-profit organization Pedal Through Youth He unfortunately also found out that he has a terminal illness.  His goal for the time that he has left is to create this program and have it continue after he is gone.
  We would like to ask that if you have an old bike you’d like to donate you can drop it off at Lyndale Garage at 87 Warehouse Street in Springfield.  If you don’t have a bike to donate or you live out of the area.  He has a gofundme page,“Pedal Thru Youth Startup”.  All  amount are welcome the funds are used to help Bob purchase necessary parts for repairs.
Interview on channel 22 news:

Calling to schedule your Massachusetts Real Estate exam with PSI

As of April 1, 2016, PSI Services LLC is the new test vendor for the Board of Registration of Real Estate Brokers and Salespersons (Board).  To schedule your exam for PSI Exams you can reach PSI by calling them at (800)733-9267.  The call center is open Mon through Fri 7:30 am to 10:00 pm and Sat and Sun 9:00 am to 5:30 pm.

You will need to be ready to pay for the exam the day that you make the reservations.  The cost for the exam is:

  • Salesperson: $85
  • Broker: $106

Remember if you need to reschedule your exam you will need to call them 48 hours or 2 days before your test date.  For example if your test date is on Wednesday.  You will need to give them a call to reschedule by Sunday.

The day of the test you will need to bring with you:

  1. Two forms of ID:
    • Acceptable Forms of ID:
      • PRIMARY IDENTIFICATION (with photo)
        Choose One
        Government issued driver’s
        U.S. Department of State Driver’s License
        U.S. Learner’s Permit (plastic card only with photo and signature)
        National/State/Country Identification Card
        US Government Issued Passport or Passport Card
        US Government Issued Military Identification Card
        U.S. Government Issued Military Identification Card for spouses and dependents
        US Government Issued Alien Registration Card (Green Card, Permanent Resident Visa)
        NOTE: ID must contain candidate’s photo, be valid
        and unexpired.
    • SECONDARY IDENTIFICATION
      Choose One
      Credit/Debit Card (must be signed)
      Social Security Card
      Any form of ID on the Primary list
      *NOTE: Student ID and employment ID are NOT acceptable forms of identification.
  2. Your Real Estate Licensing Examination Candidate Information Bulletin with the 3 Candidate Endorsements and the CORI form filled out and notarized.  Remember they cannot be related to you to, live with you or be another student from class.
  3. Your payment for your real estate license.  Remember they do not except cash.  You can pay with either a credit card or check.
    • Salesperson License: $103 to $150 plus $11 processing fee
    • Broker License: $142 to $200 plus $11 processing fee

Mandatory Massachusetts Real Estate Agency Disclosure Form Changes

As of Jan 24, 2017 the Board of Registration for Real Estate Brokers and Salesperson has updated the Massachusetts Mandatory Real Estate Licensee – Consumer Relationship Disclosure. The form has a new look and feel. The board hopes that this new form will help clarify the role of the real estate agents and brokerages in a real estate transaction for the consumer.

The back of the form still lists the 5 types of agency available in Massachusetts. The front of the form has been redesigned to help make it easier for the consumer to understand the role of the agents and brokerages. The form is still NOT A CONTRACT. To clarify that matter the phrase has been added to the top of the form in bold capital letters and underlined.

They have also changed the section explaining designated agency and non-designated agency (Single Agency). If your office is a Single Agency office, the new form requires that you check off if the agents in your office are going to be representing the consumer as Buyer or Seller agents. If your office is a Designated Agency office, the new form requires that you make the consumer aware that you will be responsible for the consumer and that another agent in your office will be responsible for their Buyer or Seller.

The new form does not remove the requirement to receive permission for being a Designated or Dual agent from the Buyer and Seller. You must still receive permission either in advance with a listing agreement or in a buyer agency agreement or later using the designated agency consent form or dual agency consent form.

At the bottom of the form you will still have to sign and print your name showing that you have gone over the form with the consumer. You will still have to write down your license number. You will also have to indicate if your license is Broker or Salesperson license.

The consumer will still sign and print their name and date the form. They still have the right to decline from signing the form.  In that case, you still will just check the box at the bottom of the page next to “Check here if the consumer declines to sign this notice.”

Mandatory Real Estate Agency Diclosure Massachusetts

MASSACHUSETTS MANDATORY REAL ESTATE LICENSEE – CONSUMER RELATIONSHIP DISCLOSURE (click to open)

 

Online Continuing Education Holiday Coupon

holidaycelebrationcoupon-2

We hope you had a wonderful Thanksgiving with family and friends. Time is a gift we all wish we could receive. There just never seems to be enough time to do everything we need to do. Especially around the holidays. Even though you may be running around crazy trying to do all your shopping, decorate your home, drive the kids here or there, show buyers properties and sign listing contracts. You still need to find some time to complete your continuing education, so you can renew your license. Taking your continuing education on the go is so much easier. We thought we would spread a little cheer by offering a coupon for our 12 hours of online continuing education. Happy Holiday and best wishes for an amazing 2017.

Check the Date on a Smoke Alarm

As real estate agents it’s our responsibility to make sure the property that our clients are selling is going to pass the Smoke Alarm Inspection. So, don’t forget to check the alarms to make sure you have the right ones near the kitchen and bathroom. Remember any smoke alarms that are within in 20 feet of the kitchen or bathroom with a bath tub or shower must be photoelectric smoke alarms. The alarms are not over 10 years old. Many students ask us where do we find the date the smoke alarm was manufactured.

Click on the image below to download the flyer.

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Update to Smoke Alarms Requirement on Dec 1, 2016

smokealarmWe hope you had a wonderful Thanksgiving with family and friends. We just wanted to let you know that on Dec 1st new regulations require owners of single or multi-family homes built prior to 1975 to replace expired and non-working smoke detectors with new ones equipped with a ten year sealed battery. Fire departments will be checking for compliance when they conduct smoke alarm inspections.

We always tell all of our students to check with the local fire department to make sure they understand what is required for the property to pass the smoke alarm inspection. The fire marshal has created a consumer fact sheet for smoke alarm and carbon monoxide detectors which you can find by clicking here

Real Estate Proration for the closing

On July 18th, 2014 Jane from ABC Realty meets her first time home buyer clients Jane and Fred Smith at the attorney\’s office for the closing of 25 Maple St. Jane remembers that she was able to negotiate a great sales price for her clients. The property was listed for $150,000. and it was on the market for over 150 days. After comparing the other sold properties in the area. Jane realized the property was over priced. She helped her client negotiate a sales price of $140,000. When filling out the offer the Buyers place a $10,000 earnest money deposit and their financing is 90% of the purchase price with 4 points. Your clients tell you that they locked in an interest rate of 9.5%. During the closing the attorney goes over the closing statement with your clients. The Sellers have not yet paid the real estate taxes of $1700 and the additional property assessment of $1540. The Sellers also have a mortgage that need to pay at the time of closing, $83,760 with an interest rate of 7%.

At the time of closing the items that will appear on the closing settlement statement are:

  1. Proration of real estate taxes: (The Seller has not paid the real estate taxes.)
    1. Taxes per day:
    2. $$$1700 \, unpaid \, taxes \div 360 \, days = $4.72$$

    1. How many days the Seller lived in the property
    2. $$6 \, months * 30 \, days = 180 \, days$$
      $$180 \, days + 18 \, days \, in \, July = 198 \, days$$

    1. The Seller’s Debit and the Buyer’s Credit
    2. $$$198 \, days * $4.72 \, per \, day = $934.56$$

    1. Prorate the addition property assessment:
      1. Additional property assessment per day
      2. $$$1540 \, unpaid \, property \, assessment \div 360 \, days = $4.28 \, per \, day$$

      3. How many days the Seller lived in the property
      4. $$6 \, months * 30 \, days = 180 \, days$$
        $$180 \, days + 18 \, days \, in \, July = 198 \, days$$

      5. The Seller\’s Debit and the Buyer\’s Credit
      6. $$198 \, days * $4.28 \,per \, day = $847$$

Goodbye to Pearson Vue

The Board of Registration of Real Estate Brokers and Salespersons has said, “So long and thanks for all the fish!” to Pearson Vue yesterday.

That is correct as of April 1st, 2016 PSI Services LLC will be the new testing service for Real Estate Exams here in the state of Massachusetts. As this is breaking news the board is not giving us any details about the transition just yet.

The notice was posted on the Pearson Vue website yesterday.

Pearson Vue Notice

According to the Pearson Vue website:

As of March 15, 2016, Real Estate applicants will be able to schedule examinations with PSI Services LLC, for examinations, on or after April 1, 2016. Additional information can be found at the following web site on or around March 15th: psiexams.com

I am encouraging all of our broker and salesperson students that have already completed their prelicensing course, and not taken the real estate exam yet, to do so ASAP to avoid any delays in getting their license.

As word of the transition spreads I am sure that Pearson Vue will be swamped with students trying to take their test before April 1st so I would call Pearson Vue today and schedule the next available exam you can. Here is the number too make an exam reservation (800)274-0501.

You can be sure that we are going to be ferreting out all the details of this process as they unfold and informing you each step of the way.

Here is how you can help us. We are crafting a email to the Director of the Board of Registration of Real Estate Brokers and Salespersons about this transition and would love to include your questions and feedback. If you have specific questions about the transition please post them below. As we get the answers to the questions we will detail them here so everyone gets the benefit of the information.

Referred Insurance Companies for a Surety Bond in Massachusetts

Many of our Broker Prelicense students have asked us for referrals to Insurance Agents that can help them with the surety bond that they need.  As you know all Massachusetts Real Estate Brokers must have a $5000 surety bond before taking the test and while they hold an active Broker license.

Many of our students were running into problems not being able to find an nsurance company or agent that could help them.  So, a few months ago we sent out an email asking for referrals to insurance agents or companies that our students would recommend.  We would like to thank everyone for getting back to us.

Below you will find the list of insurance agents that have been referred to us from our students.  Please let us know if you have any problems with any of the agents listed below.

Referred Insurance Agents and Companies:
Chris Russo
Russo Insurance
Medway, MA
Phone: 508-533-3000
Fax: 508-533-5333
Gaudette Insurance
68 Worcester Street
North Grafton, MA 01536
Phone: 508-839-6022
Fax: 508-839-4416
Richard R. Green Insurance Agency, Inc.
32 Somers Road
Hampden, MA 01036
Phone: 413-566-0028
Fax: 413-566-0090
Nicholas Gennetti
Cochrane and Porter Insurance Agency
981 Worcester Street
Wellesley, MA 02482
Mancuso and Nowak
252 Boston Turnpike
Shrewsbury, MA 01545
Phone: 508-756-4310
Fax: 508-752-6712
Brown and Brown Insurance
3 Hollis St
PO Box 1497
Pepperell, MA 01463
Phone 978-433-7228
Fax: 866-848-6097
Heidi Pafumi
BKaye Insurance
44 Harkness Ave
East Longmeadow MA
Phone: 4136874339
Email: Hpafumi@bkaye.com
Barbara Christopherson
Account Executive, Commercial Lines Ins.
Thomas Woods Insurance Agency, Inc.
20 Park Ave., PO Box 2940
Worcester, MA  01613-2940
Tel. 508-755-5944 ext 110
Fax 508-755-6412
John Dustin or Carly Longo
JED Insurance & Financial
30 Mechanic St #5
Foxborough, MA 02035
Phone: 508-543-1067
J.R. Tallman & Co., Inc
P.O. Box 469
12 Court Street
Taunton, MA 02780
Phone: 508-824-4051
Fax: 508-822-7654
Nicholas Stoddard
Liberty Mutual Insurance
11 Village Hill Rd., Suite 103
Northampton, MA 01060
Direct: 1-413-582-7059
Toll Free: 1-866-583-5306
Fax: 1-413-582-7947

Massachusetts Real Estate Salesperson Prelicense Requirements

Massachusetts Real Estate Salesperson Prelicense Requirements

This video explains all the requirements for taking the 40 hour Salesperson’s Prelicense class and taking the Prelicense Examination. People interested in getting a real estate agents license in Massachusetts should go to http://baystateacademy.net and sign up for our industry updates for more detailed information.