The scholarship program provides financial support to PAR members pursuing any approved REALTOR® professional designations or a broker-level course approved by the Pennsylvania State Real Estate Commission.

According to Samantha Neely, PAR professional development specialist, applicants must be PAR members and must have held REALTOR® membership for at least two years. Previous scholarship winners are also ineligible.

The application deadline is July 31, 2010. The scholarship term begins January 1, 2011 and ends December 31, 2011. Scholarships are awarded at the September meeting of the Foundation’s Board of Directors.

For eligibility information and the downloadable application visit pref.biz.

The CDPE designation has been endorsed by RE/MAX International, Keller Williams Realty, the Asian Real Estate Association of America (AREAA) and the National Association of Hispanic Real Estate Professionals (NAHREP).

James Matthews with Coldwell Banker Hearthside in Richboro, PA, became certified late last year. “I started selling foreclosed properties and this course has been very helpful. A majority of my business is now short sales,” Matthews said. “People aren’t getting help and they’re unaware of their options. I’m giving them different options and not just trying to sell their property.”

Bryn Mawr REALTOR® Janet Ames with RE/MAX Executive Realty said the two-day course was “chock full of information.” While she’s not focusing her business on short sales at this time she said the information has been helpful. “I’m glad to be trained and aware of what’s happening in that area of the market. The knowledge is helpful for various reasons because it is an overwhelming process. The CDPE website is a wonderful resource,” she added.

The Distressed Property Institute, based in Austin, TX, was cofounded by Alex and Cadey Charfen in January 2008. “We were living in Florida at the time and we saw the beginning of the economic collapse. We were working with people in foreclosure and saw the need for more knowledge about this process,” Alex Charfen said.

“With more than 300,000 foreclosures in January alone and approximately one in six mortgages currently not being paid, this crisis is beyond severe,” he added.

The CDPE training course addresses foreclosure avoidance options available to homeowners including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances and reinstatements, as well as credit, employment and security implications.  A two-day course will be offered in Pittsburgh August 23 and 24 and other locations throughout the country. Classes are also available online.

The institute’s website provides information on the short sale and foreclosure processes, as well as information about the federal Home Affordable Modification Program (HAMP) and Home Affordable Foreclosure Alternatives (HAFA) program.

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Real Estate licensees have until May 31 to renew licenses with the PA State Real Estate Commission.

Deputy Commissioner Mark Vessella with the Department of State’s Bureau of Professional and Occupational Affairs says licensees should renew shortly after receiving renewal cards in the mail. Vessella adds 91 percent of licensees usually renew online. “It’s quick and easy and you will get your license within seven business days,” he said.

Postcards were sent to brokers and agents notifying them that real estate licenses must be renewed with the commission by May 31. In order to apply for license renewal, real estate professionals must complete 14 hours of approved continuing education (CE).

Agents who received their licenses between Dec. 1, 2007 and Nov. 30, 2009 are required to take 14 hours of continuing education in specific, mandatory commission-developed courses.  Those who received their licenses after Nov. 30, 2009 will be waived from continuing education for the 2010 renewal but will be required to take the specific, mandatory commission-developed courses for the 2012 renewal.

Licensees do not need to send CE information with their renewals as the commission will again use a post-renewal random continuing education audit. Proof of CE completion should only be sent if the broker or agent receives specific instructions from the commission to do so.

If an agent has not received a license renewal notice from the state, he can use the registration code that is printed on his wallet real estate license card to renew his real estate license.

Real estate licensees are encouraged to renew their licenses online, which is quicker and more efficient. Paper applications are being accepted but will take longer to process.      

The PA Association of REALTORS^® (PAR) does not participate in the license renewal process and does not keep records of members’ continuing education credits.

Chandra Hall

Tax regulations can have serious effects on real estate transactions.

“Knowing how to use tax information in your real estate business, having an awareness of tax ramifications for consumers, helps you bring more value to the transaction,” said real estate instructor Chandra Hall.

Being armed with this information helps people live their lives proactively instead of reactively, at least tax-wise, Hall, who’s based in Colorado, noted. “When you sell your primary residence, you should be thinking ‘What are the tax benefits or ramifications?’” she said.

Hall will be presenting “The Good, the Bad, the Taxable and the Investor” at the four PAR District Conferences April 27-30. The course will help raise awareness, outline basic tax rules and show how to integrate them into a real estate business.

The tax codes changed in 1997 and the capital gains tax is more beneficial to most when they sell their primary residence. Many don’t realize the tax regulations have changed, Hall said.

“Without some of this knowledge, REALTORS® can be blamed, even though it may be outside their realm,” Hall said. “This class will outline the rules and facts behind the tax code and we’ll also show scripts and dialogues so REALTORS® can walk the line without giving tax or legal advice,” she added.

In the afternoons, her topic is “Systems Keep You Sane.” The program shows how taking advantage of the best systems can make a REALTOR’s® work day easier.

REALTORS® attending the district conferences will also have an opportunity to visit with area vendors exhibiting at the conferences.

The conference is $59 for attendees. Register online or via fax on pref.biz.

Sponsored by PA REALTORS® Education Foundation (PREF), the conferences are scheduled for:

District 1: Tuesday, April 27
Mohegan Sun at Pocono Downs, Wilkes-Barre

District 5: Wednesday, April 28
Hoag’s Celebration Hall, State College

Districts 6 and 8: Thursday, April 29
Holiday Inn Washington-Meadow Lands, Washington

District 7: Friday, April 30
The Riverside Inn, Cambridge Springs

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Last year 30 REALTORS® from across the state were able to continue their education with financial assistance from the PA REALTORS® Education Foundation (PREF). REALTORS® can get scholarships from PREF for REALTOR® designations and courses for broker credit. PAR’s professional development specialist Samantha Neely says REALTORS® need to highlight their goals when applying for a scholarship. “Be thorough but concise. We need to know what you plan to do with the scholarship and how the education will help you achieve specific career goals,” said Neely. Deadline to submit the application is July 31, 2010.      

Duration: 1:48

Chandra Hall

Hall will present “The Good, the Bad, the Taxable and the Investor” during a three-and-a-half hour session each morning. The session will explain how REALTORS® who understand the numbers can provide buyers and sellers excellent service and opportunities in the profitable investment market. This course has been approved for 3.5 hours of PA real estate continuing education credit.

In the afternoons, her topic is “Systems Keep You Sane.” The program shows how taking advantage of the best systems can make a REALTOR’S® work day easier.

REALTORS® will also have an opportunity to visit with area vendors who will be exhibiting at each of the district conferences.

The conference is $59 for attendees. Register online or via fax at pref.biz.

Sponsored by PA REALTORS® Education Foundation (PREF), the conferences are scheduled for:

District 1: Tuesday, April 27
Mohegan Sun at Pocono Downs, Wilkes-Barre

District 5: Wednesday, April 28
Hoag’s Celebration Hall, State College

Districts 6 and 8: Thursday, April 29
Holiday Inn Washington-Meadow Lands, Washington

District 7: Friday, April 30
The Riverside Inn, Cambridge Springs

“While lending guidelines have changed in the industry, PHFA’s have remained the same,” said M. Dona Palmer, PHFA Business Development Manager. “We’re still a viable option for many homebuyers, especially first-time buyers.”

“Many homebuyers with a lower credit score or who have less than 20 percent saved are being turned away from the home buying process,” Palmer said. “PHFA has expanded its programs in order to assist more buyers.”

Seminars, which cost $25 per person, are being held from 8:30 a.m. to 4 p.m. at these locations: March 11, King of Prussia; March 16, Harrisburg; and March 18, Pittsburgh. To learn more or to register online visit the PHFA web site.

Those with questions can contact Denise Shearer or call 800-822-1174.

There are several versions of the GI Bill but the most recent allows active military personnel to pass some GI Bill benefits to eligible spouses and/or children. The expanded benefits were approved in August and most eligible service members should have been notified about the changes, according to Susan Wright, PAR’s education specialist.

The Graduate, REALTOR® Institute (GRI), Senior Real Estate Specialist (SRES), Accredited Buyer’s Representative (ABR) and GREEN designations classroom courses offered through PRI are all eligible for GI Bill benefits and these benefits are retroactive to October 16, 2008. Those who qualify for the benefits may be eligible for reimbursement of courses previously taken.

“This is a great opportunity for eligible REALTORS® to take advantage of the GI Bill benefits. The benefits are generous and can sometimes include travel as well as coursework,” Wright explained. “The two-day designation courses can also count toward broker education credits.”

Those interested in learning more about these benefits can contact Susan Wright.

Seventy-five hours of education will be required later this year prior to becoming an appraisal trainee under new regulations proposed by the State Board of Certified Real Estate Appraisers, according to Daniel Bradley, board chair.

Bradley said the changes will require applicants to complete 75 hours of coursework in specific topics, including the 15-hour Uniform Standards of Professional Appraisal Practice (USPAP) course, 30-hour Basic Appraisal Principles course and 30-hour Basic Appraisal Procedures course before applying to the board to become a licensed trainee.

Those currently working as appraisal assistants will have a window of time to submit their application to receive a trainee license. After the board sets the final date, anyone working to assist in the preparation of an appraisal must be a licensed trainee.

“At this time, anyone can be an appraisal assistant; there are no qualifications,” Bradley explained. “The new regulations will define an ‘appraisal trainee’ and the requirements to qualify for the new trainee license. The trainee will then be required to obtain a minimum of two years experience working with a certified appraiser before he can qualify to become a certified appraiser.”

The educational requirements follow the Appraiser Qualifications Board (AQB) recommendations to create consistency within the industry in Pennsylvania.

By requiring the application process up front, the board sees this as beneficial to applicants who may not meet the requirements to become certified appraisers. “An applicant may have a criminal record or some other barrier which would preclude him from being certified,” Bradley said. “We would prefer that he knows this before going through two years of training and then discovers that he doesn’t qualify.”

The appraisal board is considering limiting the number of times a person can renew a trainee license but it is making some allowance for a person who may be experiencing circumstances beyond his control, such as overseas military service or health issues.

The proposed regulation changes have had a first round of public comment during which PA Association of REALTORS® submitted comments in favor of the changes. The Independent Regulatory Review Commission (IRRC) has reviewed the regulation package and is going through final rulemaking. The proposed regulations will be sent back for public comment, as well as comments from the  House and Senate Professional Licensure committees, the Governor’s Policy Office and the IRRC.

Bradley said the appraisal board tentatively expects to finalize the regulations by April 1 and hopes to implement them by July 1.