Michigan Association of Realtors

Make plans now to check out the RPAC Silent Auction and Putting Challenge during MAR's Convention and Expo!

One of the biggest highlights each year during the MAR Convention and Expo is the RPAC Silent Auction. Local REALTOR® associations from around Michigan generously contribute items and gift baskets to the exciting event which grabs the attention of everyone who attends! Previous items included NASCAR tickets, weekend get-away packages, golf packages, catered events, fishing tours, and gift certificates. All bids go directly to supporting RPAC, your real estate industry safeguard. Last year, over $12,000 was collected! This year’s RPAC Silent Auction will take place all day during convention on Thursday, October 8th, from 11:00am-5:30pm in the Expo Hall!

In addition to the RPAC Silent Auction, there once again will be the highly popular RPAC Putting Challenge! In previous years, this event has been a great success in garnering support for RPAC. Participants are able to purchase putts that could lead to winning the grand prize-stunning diamond jewelry! Be sure to stop by the RPAC putting green booth on Thursday during convention to try your luck at sinking one in for RPAC. Good luck!

Your participation in the MAR RPAC Silent Auction and Putting Challenge events are key to helping RPAC succeed in protecting the real estate industry. Each contribution goes to fighting for REALTOR® causes at the federal, state, and local levels of government. It also helps to secure those in the legislature who will fight for real estate industry concerns and continue to support REALTOR® initiatives. In addition, it’s an easy way to get involved in RPAC and your putting skills may reap a fantastic reward in the process! If you still need to register for this year’s convention, please visit our Convention Web site.

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Take Advantage of Early Registration Rates; Take Advantage of Educational Value at MAR’s 2009 Convention & Expo

MAR’s 2009 Convention & Expo is quickly approaching, and time is running out to take advantage of early registration rates. With close to three weeks away from the early registration rate deadline, don’t miss out on Convention savings. For full registrations, all Convention attendees receive:

- Access to entire schedule of knowledge sessions. Wednesday – Friday enjoy three days of a knowledge packed agenda, with subjects ranging from social media to pricing strategies, foreclosures to identity protection.

- Access to networking events. The Convention schedule offers an array of networking events, including the Welcome Reception in the expo, following the Grand Assembly – an upbeat way to celebrate the Convention & the real estate industry! Also attend the Happy Hour in the Expo & the REALTOR® Royale, a Convention favorite on Thursday evening – dancing, drinks & networking with a fall harvest theme!

- Continuing Education & McClelland & Anderson’s Legal Update. A great course to attend each year, attend the legal update at MAR’s Convention in coordination with your other educational and CE needs. So far, MAR is offering 12 CE credits, with more to come.

Register today for as low as $139*. For an entire schedule of events, and more information on why you should attend MAR’s 2009 Convention & Expo, visit the Convention Web site today!

Register Now!

 

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REALTOR® Focus: Michigan Brokerages make NAR’s REALTOR® Magazine Top 100 Lists

 

 

Each year, NAR’s REALTOR® magazine ranks companies from around the nation based on 2008 Transaction Sides and 2008 Sales Volume. MAR would like to congratulate the three Michigan companies to be ranked.

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If you own rental real estate, you should be aware of your federal tax responsibilities. All rental income must be reported on your tax return, and in general the associated expenses can be deducted from your rental income.

If you are a cash basis taxpayer, you report rental income on your return for the year you receive it, regardless of when it was earned. As a cash basis taxpayer you generally deduct your rental expenses in the year you pay them. If you use an accrual method, you generally report income when you earn it, rather than when you receive it and you deduct your expenses when you incur them, rather than when you pay them. Most individuals use the cash method of accounting.

This Headliner provides information about reporting information and recordkeeping requirements for rental real estate income. It also addresses common types of misreporting of deductions for rental property. Helping taxpayers understand the tax laws relating to rental real estate activities reduces errors and improves voluntary compliance.

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With the help of McClelland & Anderson, we are taking the most commonly asked questions from our legal hotline and putting them in E-news. We will be featuring a different question each issue.

 
QUESTION: I am a REALTOR^® representing a seller to whom I am related. I have spoken to other agents and they told me that I have to disclose this relationship to potential buyers. Are they correct?

ANSWER: NO. There is nothing in the Occupational Code that requires agents to disclose that they are related to a seller or buyer whom they represent. When the Occupational Code states that a licensee must disclose any “indirect” interest he has in a home, it is it is referring to the situation where, for example, the licensee is a partner in a partnership that owns the home. A licensee does not hold an “indirect” interest in a home by virtue of the fact that the home is owned by a relative of that licensee.

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Traverse City Makes List for Top Five Places to Retire

Coldwell Banker surveyed its practitioners to compile a list of the top cities for young retirees, ages 55 to 59. The cities were chosen based on recreational opportunities, weather, health resources, crime, and cost of living.