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Managing
Broker/Owner September 4, 2015
WelcomeKathy Hall, 2015 MIBOR President
Director Elections Kathy Hall, 2015 MIBOR President
MIBOR Districts
Broker offices are placed
into one of five regional
districts around the region
determined by zip code.
10% - 1 Seat
25% - 2 Seats
April 1st Deadline
4
James Anthony
F.C. Tucker Co.Kelly Todd
F.C. Tucker Co.
Jenni RuizJ.S. Ruiz Realty,
Inc.
District 1 Candidates
Aaron Clark
RE/MAX Select,
REALTORS®
Tom Johnson
F.C. Tucker Co.
District 3 Candidates
Heather Meyer
Stewart Title Services
Patty Thornberry
Security Home
Inspections
Affiliate Candidates
National Association of REALTORS®
2015 Good Neighbor Award
Four-time cancer survivor Nancy Hines wants you to
know the symptoms of ovarian cancer, and that
recognizing them early can save lives.
REALTORS® and the public can vote for their
favorite of the 10 Good Neighbor finalists.
Between Aug. 25 and Sept. 25, you can cast
your vote at realtor.com/goodneighbor.
Association
Branding EffortsKathy Hall, 2015 MIBOR President
Claire Belby, MIBOR Communications Director
We’re changing…
Direction from BOD
• Expand our service area,
either offer services to other
Boards or recruit as full
members
• Emphasize the relevancy of
the REALTOR®, strongly
communicate R® value
What we learned
• MIBOR has equity – for
consumers and Rs
• REALTOR® brand is critical
• Surrounding boards (to
differing degrees) averse to
“Indianapolis”
Metropolitan Indianapolis
Board of REALTORS®
becomes
Mid Indiana Board of REALTORS®
Visually more of a refresh
than a rebrand
Rationale
• REALTOR® front and center
• Retains equity of MIBOR for members
and consumers
• MIBOR.com remains intact
• Familiar to current members
• Comfortable and inclusive to
surrounding boards
Right at home in Central Indiana.
Trusted Name. Expanded
Neighborhood.
Process
• Board of Director approval
• 60-day period
• NAR approval
• Managing Broker Announcement
• Member Announcement – TODAY
• Public Announcement
Next 30 Days…
• Website refreshed
• New letterhead, business cards
• Fast Track e-newsletter will receive new
name and new look
• Lobby and exterior signage
• Print and digital ad campaign
• Communicate with organizational
partners
• Public announcement October, including
Madison County expansion
Current
Technology &
Portal EffortsTom Renkert, Business Support Services Director
Roger Lundy, 2015 MIBOR President Elect
It’s a new world out there
RPR
Upstream
AMP
Broker Public Portal
Midwest Data Cooperative
RPR
(Realtor Property Resource)
Property centric national data base
Owned by NAR
BLC contributes its information
since April, 2015
Tool for brokers and for brokerages
Timeframe: up and running
Upstream
Initiative of major independent brokerages
Now includes major franchisors around the country
Intent is control for brokerages of all sizes
to aggregate all brokerage data in one place
to normalize all data
to then send data to wherever brokerages choose
Pipeline to listing services and portals
Timeframe: uncertain but not sooner than 18 months
RPR could be the platform
Today without Upstream
Slide courtesy of Keller Williams
With Project Upstream
Slide courtesy of Keller Williams
AMP™
(Advanced Multi-list Platform™)
Initiative of RPR and smaller listing services around the
country
Concept is that RPR become the backbone backend for
listing service to tie into
Vendors would develop products fro frontend access and
uses
Could be platform for national data base
Timeframe: uncertain but not sooner than 18 months
Supports the continued existence of listing services
around the county
Broker Public Portal
Initiative of major brokerages and franchisors
and listing services around the country
Public facing website for property searches
REALTOR friendly in that leads go to brokerage
and brokers directly (similar to mibor.com)
Follows fair display guidelines
Timeframe: uncertain but at least 18 months
out
MIBOR has small investment in the $500,000
pot raised to date to follow the progress
Midwest Data Cooperative
Initiative of five large listings services
including our BLC
Improved technology options for members;
Increased innovation velocity; faster time to
market
More options for brokerages and brokers
Reduced vendor dependency
Minimization of redundancy…economies of
scale
Centralization of compliance
The Landscape
1
12 Mega Regions =
$13 Trillion Economic Output:
¾ US GDP (Plus MRED Concept
Partners)
Matrix™ Updatewww.mibor.com Public Search
Tom Renkert,
Business Support Services Director
MATRIX Update Tempo/Fusion Add/Edit ends at 11:00
am on Tuesday September 8th (search
only for the remainder of the day)
Fusion/Tempo no longer available in the
early morning hours of September 9th.
Live with Matrix Add/Edit at 10:00 a.m.
on Wednesday September 9th.
MATRIX Update Support includes Corelogic Call Center
for the first 30 days
Training videos are a good source – Use
Help Tab on Matrix to find or BLC
Training links on MIBOR.com
1st available Training Lunch and Learn
on 9/11 and many opening the week of
9/14.
Property.mibor.com
Property.mibor.com
Property.mibor.com
Property.mibor.com
Property.mibor.com
Property.mibor.com
CFPB TaskforceJeanette Langford,
Professional Service and Industry Issues
Director
New Mortgage Disclosure Rule
Rule takes effect on October 3, 2015
Any loan application made prior to
October 3, 2015 will continue to use the
HUD-1.
Any loan application made on or after
October 3, 2015 will use the new Closing
Disclosure.
Integrated Mortgage
Disclosures
The Loan Estimate:
replaces the Good Faith Estimate
is more inclusive with fees
is more in line with closing disclosure
provides estimated cash to close
is more consumer friendly
Integrated Mortgage
Disclosures
The Closing Disclosure replaces the HUD-1 and
final Truth in Lending statement and must be
delivered and acknowledged by the buyer at least
3 days prior to closing.
The lender will determine what is considered an
acknowledgement of the Closing Disclosure.
There are only 3 instances that will require re-
disclosure and a new 3 day waiting period:
The loan product changes
The addition of a prepayment penalty
The APR changes + .125% for fixed rate and + .25%
for adjustable
TRID Best Practices
Be in the know!
MIBOR’s TRID Best Practices
CFPB’s Guide for Real Estate Professionals
on New Mortgage Disclosures consumerfinance.gov/know-before-you-owe/real-estate-
professionals
Contact MIBOR with any questions.
REALTOR®/Builder
Pact UpdateJeanette Langford,
Professional Service and Industry Issues
Director
REALTOR®/Builder
Cooperative Agreement
MIBOR and the Builders Association of Greater
Indianapolis (BAGI)
Guidelines establish expectations for both parties
Works to ensure cooperation and compensation
Provides for dispute resolution processes
45 Brokerages and 23 Builders
http://www.mibor.com/membersinfo/r-b-cooperative/
Thank youToday’s presentation will be online at
www.mibor.com under “Member Info”
“Managing Broker Information”