Having just recently returned from the Pac Rim conference held on the Big Island of Hawaii (The Big Eye) I have to say I was amazed that it wasn't better attended. This was a great opportunity for Realtors on the Big Island to attend a conference that did not require getting on a plane. This conference is only held every other year and is specific to issues in the Pacific Rim area, as well as marketing and professionalism in the real estate arena. There were many excellent presenters and a wealth of information. I could not write fast enough. This conference provided a wonderful opportunity to network with agents from other islands and to meet the President of HAR and members of the the State of Hawaii Real Estate Commission. There was also a trade show during the conference where you had a chance to explore new business building products and services.
One of the most talked about presentations was the panel on Friday morning that was opened by Richie Richardson, the president of Hawaii Association of Realtors. The panel discussed the recently passed ACT 137 also known as "Mortgage Rescue Fraud Prevention Act" dealing with Distressed Properties and how to avoid becoming a "Distressed Property Consultant". This is a fairly large issue considering the amount of short sale and distressed properties currently in our market place. For those of you who were unable to attend I encourage you to become more informed about this new bill and the impact it has on your current business. Until this new bill is amended to exempt Realtors and CPA's there will be trouble on the horizon as we can no longer provide servicing to our customers once their home is considered a "distressed property" without taking on much greater liability. It is a very fine line as to staying on the right side of this Bill without the much needed amendment. For those of you wanting more information, you can contact your local Board, speak with your in-house attorney and/or attend a presentation regarding the Act as well as consult your Principal Broker to find out what your office policy is regarding this Act. Don't get caught with your pants down as this is an issue that will not be going away anytime soon.
A special note of appreciation to Central Pacific Home Loans and their gang for the cocktail party and hospitality suite they so generously provided for all to come and enjoy. You are much appreciated!
Comments(2)