Commercial Broker Lien Law & New SBA Financing Program

Commercial Broker Lien Law Introduced

Reps Darrell McCormick (R-), Pryor Gibson (D-Anson), Leo Daughtry (R-Johnston), and Tom Murry (R-Wake) have introduced HB 174 (Commercial Real Estate Broker Lien Act), http://www.ncleg.net/Sessions/2011/Bills/
House/PDF/H174v1.pdf, which will protect a broker’s ability to receive payment for their hard work by granting brokers the ability to file a lien upon commercial real estate in the amount that the broker is due under a written instrument with the owner, buyer or tenant (or their authorized agent). The North Carolina Association of REALTORS® has been working with Rep. McCormick, our Commercial Alliance and other stakeholders for several years and will continue to advocate for this legislation. We are hopeful the bill will be successful and provide an assurance to our commercial brokers they will be paid for their hard work.

SBA Announces New Commercial Real Estate Financing Program
On February 17, the U.S. Small Business Administration (SBA) announced that it will start accepting refinancing applications for commercial real estate mortgages maturing by the end of 2012. For the first time, small businesses will be allowed to refinance certain owner-occupied commercial real estate mortgages into long-term, fixed rate loans, under the existing SBA 504 program. The new refinance program provides an SBA loan up to 40 percent of the appraised property value with no less than 10 percent of the remaining amount to be contributed by the borrower. Last September, President Obama signed into law the Small Business Jobs and Credit Act of 2010, which authorized this program through September 27, 2012. Due to the economic downturn and falling commercial real estate values, many small businesses have encountered difficulty refinancing their maturing mortgages. NAR believes this program will provide credit relief for property owners and help stabilize the commercial real estate and small business sectors.
Read more about the SBA's 504 Refinance Program.

2011 Frontier Awards: Celebrate the Successes of the Commercial Community

The 2011 President's Frontier Awards, the annual awards ceremony that honors the Triangle Commercial Association of REALTORS deal makers and community leaders of the previous year, will be taking place on Thursday, March 3rd at the Carolina Country Club.

Registration, networking and breakfast begins at 7:30am and the program starts promptly at 8am. This year's speaker is John Forslund, the Carolina Hurricane's play by play analyst and national hockey broadcaster for Versus and NBC.

The awards include Million Dollar Club Awards, Induction into the Lifetime Million Dollar Club, the Trailblazer Awards, Rising Star, Busy Broker, William P Eyerman Award, Sale and Lease Transaction of the Year, Development of the Year Award, Community Leader, President's Circle and the Commercial REALTOR of the Year.

Tickets are $30 for both members and non members, while tables are $200. If you want to register please go to www.tcar.com or call the TCAR & Tacquire Office at 919-228-2588. Table registrations must be done through the office number. The Carolina Country Club is located at 2500 Glenwwod Ave. If there are any further questions, please feel free to contact us at the number above or email us jennc@tcar.com.

NCAR February PARTNER of the Month

Fidelity Capital Management

Whether you are concerned about the Healthcare Reform or an increase with your current health insurance provider, Fidelity is here to help! As a 10 year REALTOR® Partner, Fidelity Capital Management has provided dental plans with group rates as well as medical insurance solutions for REALTORS® and agencies alike. They can help you understand your current policy, show unique ideas for savings, and explain how your policy might change due to recent healthcare reform law. If you work with them, it would be the same cost as going directly online, and you are helping out your local REALTOR® association! They represent only A-rated companies such as Blue Cross, United Healthcare, Cigna, Aetna, Humana, and Wellpath. Please give them a call at 919-876-9610 and let them give you a free analysis of your current situation. Also, be sure to take a look at their 2011 Humana dental plan at www.fcmrealtorbenefits.com.

NCAR REALTORS® Partner Program: A Benefit That Can Pay for Your Membership

In today’s hectic business world, who has the time to research vendors or check out how to get more for your money? The North Carolina Association of REALTORS® has taken the guesswork out of this tedious task with the REALTOR® Partners Program. Click on the link and see the multiple vendors that offer you a chance to save money! Through this program, NCAR members receive special discounts on the products and services you use most. When you purchase products at a discount from the REALTOR® Partners, a portion of the revenue that is generated is then given back to your local association as a form of non-dues revenue. You can lower your expenses while supporting your local association!

Here are a couple of other examples of partnerships that NCAR has fostered to keep money in your wallet:

Furnitureland South - A One-stop, Furniture Shopping Destination

How many of you knew that the world’s largest home furnishings retail showplace is right here in North Carolina? With 1.3 million square feet of showroom display, this 40 year-old, family-owned business offers NCAR members and your clientele discounts of 40-50% off of retail on everything they sell, plus additional savings on merchandise featured in their new Outlet Center. As an exclusive opportunity and extra benefit just for you and your clientele, you will also receive a 5% rebate on your purchase that may be used towards the selection of any in-stock item on any subsequent order. For more information, please email ncarinquiry@furniturelandsouth.com or call 866-436-8042.

Personalized for your Business, Discounted for your Wallet

Recognition Express is the world’s leader and largest manufacturer of the highest quality personalized products available in the industry. With offices throughout the US, Canada and Western Europe they specialize in scratch resistant name badges; desk and wall name plates; framed interior sign solutions; glass, crystal, acrylic, walnut, cherry wood and simulated wood awards; as well as corporate jewelry and advertising specialty items. NCAR members will receive a 5% discount on products purchased from the NCAR catalog at http://ncaor.recognitionexpress.com.

Any additional question feel free to call the office at 919-228-2588 or email jenn@tcar.com