2009 A nnual R eport

Ralph Wetherell Gettys Glaze Chris Cunniffe

CTAR President MLS President CID President

Jeremy Willits David Smythe Kristie Roe

CTAR President-Elect MLS Vice President CID Vice President

Rob Woodul Angie Bailey Directors

VP of Administration Secretary/Treasurer Kim Hinshaw
Mike Ferrer
Herb Koger Directors John Tecklenburg
VP of Finance Bretta Grant Taylor Joe Keenan
Casey Murphey
Directors Randy Poole Mike Rose
Owen Tyler Joseph Klosik Immediate Past President
Pam Bishop Herb Sass
Cyndy Burris Nancy Roettger
Preston Hipp Warren Sloane
Ken Roe Anne Whalen
Bryan Crabtree
Angie Johnson Linda Witte
Kathy Jordan Rawers Immediate Past President
Diane Johnson

Wil Riley
Immediate Past President

2009 Boards of Directors

Sandy Stone
Honorary Director
 Nov 2008 Nov 2009 Realtor Dues Breakdown
Total REALTORS® 4,357 3,925
Member Companies 918 723
Total Affiliates 112 70
Total Non-Members 1,156 716

MEMBERSHIP BENEFITS ADDED IN 2009

Realtors® Federal Credit Union opened for business
Affordable health insurance options for Realtors
Hundreds of Free or at-cost resources provided by the
Right Tools, Right Now program
Public property search on CharlestonRealtors.com
Find a Realtor search on CharlestonRealtors.com PROFESSIONAL STANDARDS
Free Monthly Lunch & Learn programs 2008 2009
18 free courses offered during Realtor® Tech Week Complaint Packages Requested 125 127

CTAR offices opened on Saturdays Requests for Dispute Resolution 15 3

Free Monthly Happy Hour Networking Events Realtor® Mediation 3 3

Free courses for Commercial Members Arbitration Requests Received 8 9

Restructured, reduced late fees for member dues Ethics Complaints Received 16 22

Monthly professional statistics reports and videos

Development of Member Library, “CTAR onDemand”
memBERSHIP
mEMBERSHIP
 David Kent was named 2008 Realtor® of the Year Realtor® of Distinction recipients Sandy Stone was named 2009 Realtor® of the Year

REALTORS® OF DISTINCTION
153 Realtors® attended the Realtors® of Distinction Awards Ceremony and 107 were named Realtors® of Distinction. There were 9 Commercial Circle
recipients, 48 Directors Circle recipients, 19 Presidents Circle recipients, 30 Executive Circle recipients, and 1 Rookie recipient. The event was held at the Club
on Daniel Island. Jim Geffert from Dale Carnegie presented a program on attitude, memory, and sales training.
2008 REALTOR® OF THE YEAR
During the 2009 Realtors® of Distinction program, David Kent of the Real Buyers Agent was named 2008 Realtor® of the Year. David is a 14-year veteran of
the real estate industry and the Broker in Charge / Co-Owner of The Real Buyer’s Agent, Charleston’s first exclusive buyer’s agent brokerage. The award recog-
nizes Kent’s contributions to the local, state and national real estate industries and associations, as well as his commitment to bettering the community.

2009 REALTOR® OF THE YEAR

During the 2009 Holiday Gala, The Charleston Trident Association of Realtors® named Alexander (Sandy) Stone as the 2009 Realtor® of the Year. Sandy has
been an active member of the Realtor® organization at all levels during his twenty five plus years in the business, as a broker-in-charge of both sales and property
management firms.

REALTORS OF DISTINCTION
INCREASING EDUCATION AND PROFESSIONALISM BROKER SOCIETY
In 2009, our records show more than 2,972 attendees for 81 continuing education courses offered at CTAR. A dedicated task force of Brokers
Throughout the year, attendance in CE courses continued to increase, likely due to the almost 500 members who re-created the purpose and content of
took advantage of the Education Gold Card and had unlimited attendance to all CE courses. Broker Society to support the evolving
brokerage needs.
Many 2009 Gold Card holders took advantage of the discounts offered on new
certification courses. The best attended sessions in 2009
A total of 446 attended designation and certification courses thanks to additions such were April –“Broker Business
as the Loss Mitigation Certification, which covers information specific to the state of Improvement” session and
South Carolina regarding Foreclosures, Short Sales, REO Sales (bank owned) & Auctions. August-“Social Networking” session.
This course was first offered in October, and sold out 65 seats in record time. This certification will be offered
throughout 2010, with a discount for Gold Card holders.
REALTOR ® Education
In November, we offered the new Short Sale and Foreclosure Certification (SFR) course to 75
members, which focuses on training Realtors® to manage short-sale, foreclosure, and real-estate
gold card
unlimited CE course attendance in 2010 |
owned transactions, and provides resources to help Realtors® stay current on national and state- discounts on some designation courses |
specific information as the market for distressed properties evolves. The SFR course will be offered again in January. plan your 2010 education course cycle
+ register at www.CharlestonRealtors.com
LUNCH AND LEARN
New for 2009, Lunch and Learn programs provided informal and FREE training from local experts and utilized
2010 Gold Cards are now on sale through January
many of the resources provided by NAR®’s RIGHT TOOLS RIGHT NOW program. In addition to live speakers, 31, 2010 or until the limit of 500 cards are sold
we also hosted a number of webinars and panel discussions. Twenty-three Lunch and Learns were offered, with the .
For $100, you are allowed unlimited admission to
most popular topics being: April-“Short Sales”, June-“$8,000 Tax Credit Explained”, and December- “Jump-Start to
CE courses, and discounts on other courses.
Business Success”.
Since most licensees will have to renew in 2010,
the Gold Card can save you more than $200!
Rookie REALTOR®
An average of 20 CTAR rookie members took advantage of a free program called Rookie Realtor® designed for

EDUCATION
education
Realtors® who have been in the business for 2 years or less. These breakfast meetings were held
every other month during the year and the best attended session was on “Lease Option- Rent
to Own” with Judy Wolk, discussing legal implications of leasing and RTO options.
 Single-Fam 3,681
Townhouse 2,093

Moving the MLS Forward in 2009... Lockbox Users Local Market Updates
A free research tool from the Charleston Trident Association of REALTORS®

Charleston County
Adopted Department of Justice approved rules for Virtual Office Websites (VOW) 17,480 active lockboxes County: CHS

November Year to Date

Single-Family Detached

Setup VOW Agreements/License and Feeds 3,747 active smartcards

2008 2009 Change 2008 2009 Change
New Listings 455 445 - 2.2% 7,738 6,834 - 11.7%
Closed Sales 159 278 + 74.8% 2,915 2,712 - 7.0%
Median Sales Price* $246,500 $235,000 - 4.7% $274,950 $250,000 - 9.1%
Average Sales Price* $347,664 $300,532 - 13.6% $396,752 $352,918 - 11.0%
Percent of Original List Price Received at Sale* 90.1% 90.2% + 0.1% 91.3% 88.6% - 2.9%

Creating agreements for Participants to request custom data feeds for internal use
Average Days on Market Until Sale 109 108 - 1.2% 113 124 + 9.9%
Inventory of Homes for Sale at Month End 4180 3681 - 11.9% -- -- --
*Does not account for list prices from any previous listing contracts or seller concessions

November Year to Date

Townhouse-Condo Attached 2008 2009 Change 2008 2009 Change

Certified RETS compliant by the National Association of REALTORS

New Listings 207 193 - 6.8% 3,525 3,027 - 14.1%
Closed Sales 37 83 + 124.3% 1,254 946 - 24.6%
Median Sales Price* $188,760 $174,500 - 7.6% $204,000 $169,792 - 16.8%
Average Sales Price* $258,638 $237,592 - 8.1% $351,609 $243,327 - 30.8%
Percent of Original List Price Received at Sale* 89.2% 88.2% - 1.2% 92.1% 88.9% - 3.5%
Average Days on Market Until Sale 161 150 - 6.8% 117 133 + 13.4%
Inventory of Homes for Sale at Month End 2339 2093 - 10.5% -- -- --

Integrated listings into www.charlestonrealtors.com

*Does not account for list prices from any previous listing contracts or seller concessions

YTD New Listings YTD Closed Sales

7,738 2008 2,915 2008
6,834 2009 2,712 2009

Added new Property Type field and Styles to List It

3,525 3,027 1,254
946

- 11.7% - 14.1% - 7.0% - 24.6%

Added Designations to List IT

Single-Family Detached Townhouse-Condo Attached Single-Family Detached Townhouse-Condo Attached

YTD Median Sales Price YTD Percent of Orig. List Price Received
$396,752 91.3% 88.6% 92.1% 88.9%
$352,918 2008 $351,609 2008
2009 2009
$243,327

Added ability for agents to designate what languages they speak - 11.0% - 30.8% - 2.9% - 3.5%

Added Sellers Concession field to Sold form

Single-Family Detached Townhouse-Condo Attached Single-Family Detached Townhouse-Condo Attached

YTD Days on Market Until Sale Inventory of Homes for Sale at Month End
124 133 4180
113 2008 117 3681
11-2008
2009 11-2009

2339

Added new consumer URL feature

2093

Some of the figures referenced in this report are for only one month worth of activity. As such, they can sometimes look extreme due to the small sample size involved.

+ 9.9% + 13.4% - 11.9% - 10.5%

Single-Family Detached Townhouse-Condo Attached Single-Family Detached Townhouse-Condo Attached

Added Market Condition Addendum (Form 1004MC) to List It All data from the Charleston-Trident Association of REALTORS®. Reports are created and maintained by 10K Research Marketing. Deemed
reliable but not guaranteed. Consult your agent for market specifics.

Negotiated new lockbox contract and began selling new NXT model lockboxes Monthly statistics reports are now available to all CTAR members at no cost.
In 2010, we will offer quarterly video updates on market statistics (click above to play an example)
Negotiated contracts with tax data provider
Partnered with 10K Research to produce monthly statistical reports

Residential users group Accomplishments

Approved additional fields be added to IDX feed
Approved addition of ownership field
Appointed School District task force up update school district data

Commercial users group Accomplishments

Updated Input forms
Reviewed relationship with Charleston Regional Development Alliance (CRDA)

LOOKING TOWARDS 2010...

Review and Update bylaws according to NAR

MLS
Finalize agreement with Dorchester Co. to bring in Covenants & Restriction data A property search is now available to the public at CharlestonRealtors.com

Working with NAR on the upcoming REALTORS Property Resource

The Commercial Investment Division (CID) had a fantastic 2009, increasing membership to more than 170
Commercial Realtors® and affiliates. The year started off with the Annual CID Oyster Roast at Gold Bug Island,
with more than 100 commercial members in attendance.

The monthly CID luncheons boasted an average attendance of 85 members, and heard from a fantastic lineup of
speakers throughout the year, such as North Charleston Mayor Keith Summey, MUSC President Dr. Ray Greenberg,
NAR Tax Counsel Linda Goolde, and the newly appointed CEO of the SC State Ports Authority, Jim Newsome.

Jim HOchman TEACHES “AVOIDING LITIGATION”

In November, CID hosted a special program at no cost to CID members. With the help of an NAR® RCA Accredited
Association Grant, CID was able to bring in a nationally-recognized speaker, Jim Hochman to teach a 4-hour CE
credit course, ”Avoiding Litigation”. About 100 CID, CCIM, and SIOR members attended the course. Chris Fraser was named
2009 Commercial Realtor® of the Year
COMMERCIAL MARKET FORECAST
The annual Commercial Market Forecast was held on October 21 at
Trident Technical College with approximately 250 Commercial Realtors®
and other industry professionals in attendance.

Jed Smith, Managing Director of Quantitative Research for the National

Association of Realtors® gave the Keynote address, telling attendees that it
had been a “long, hard road” but that the numbers appear to be heading
in the right direction.

Panelists Brent Case, Bob Barrineau Jr., Bob Caldwell, and Ashley Heggie
echoed Smith’s sentiments and presented forecasts in their respective areas Keynote Speaker, Jed Smith Commercial Market Forecast Panelists
of expertise. with Keynote Speaker, Jed Smith

COMMERCIAL INVESTMENT DIVISION


nATIONAL aCHIEVEMENTS
Not only did REALTORS® get an $8,000
first-time home buyer tax credit passed
through Congress, but our grassroots
advocacy resulted in an extension and
expansion of the tax credit to April 2010.
Other national issues addressed were
further reform of Fannie Mae and
Freddie Mac, loan limit extensions and
the biggest accomplishment – a
Congressional ban on banks in real estate.
statewide aCHIEVEMENTS
At a state level, Realtors® pushed through
Point of Sale reform through the House
of Representatives and were instrumental
in setting the bill on priority status in the
S.C. Senate for when legislators return in
2010.
Passing Point of Sale reform is the surest
and best way to stimulate our economy
through new investment and jobs into
the state. This remains Realtors® top
objective heading into 2010.
local aCHIEVEMENTS
The year was highlighted by working to protect core Realtor® values of private property rights, free transfer of real
property and improving our quality of life.
Locally, the year was spent helping and advising local governments how to become more attractive to economic
development and commercial investments. Mount Pleasant made significant changes to their impact fee legislation
that will help bring about new ordinances geared to increasing housing affordability.
We launched PreserveOurLowcountry.com, a new grassroots web site geared to promoting the qualities of the
Lowcountry that attract home buyers and jobs to the area. In conjunction with that initiative, CTAR held a series of
workshops looking at how to promote the building
of better communities by bringing in form-based
code consultants.
The 2009 election season was dominated by local elections highlighted by those in the City of Charleston, Mount
Pleasant, Summerville and the Isle of Palms. 2009 Realtor® of the Year Sandy Stone
won a seat on the Isle of Palms City Council.
In 11 of the 13 races that CTAR took a position on candidates, the candidate that
won was either rated “qualified” or “recommended” by CTAR as Realtor® grassroots
advocates got involved, engaged and took action to help qualified candidates get
elected to office.
Toward the end of the year, CTAR strengthened its position as the “Voice of Real
Estate,” and successfully worked with the City of Charleston to eliminate language in
the Charleston Green Plan which would have called for a real estate transfer fees,
created barriers to transferring property and eroded private property rights.
GovernmenT AFFAIRS
GOVERNMENT
 JEREMY CONAWAY To kick off 2009, CTAR hosted nationally-recognized speaker Jeremy Conaway, who
provided two programs for CTAR members: ‘The Road to Success’ for Agent members which had about 360 attendees and
the ‘Path to Profitability’ for Broker members which had about 120 attendees. The day was a huge success and offered
plenty of valuable information for a great start to the year to our Realtor® members.

GROWTH FORUMS This year, we hosted four Regional Growth Forums, covering Mt. Pleasant, Charleston &
West Ashley, Berkeley & Dorchester, and the Neck/North Charleston. Each forum featured expert panelists addressing
current issues in their areas, such as transportation, growth, schools and new development. Approximately 100 Realtors®
attended each forum, three of which we were able to offer at no cost to our members.
NETWORKING HAPPY HOURS CTAR hosted regional networking Happy Hours this year, with an
average about 20-40 Realtors® attending each month. The largest Happy Hour was downtown at the new Cigar Factory,
with more than 100 Realtors® in attendance!

NATIONAL ASSOCIATION PRESIDENT VISITS CHARLESTON 2009 National

Association of Realtors® President Charles McMillan visited Charleston in July
to speak to local Realtors® about new programs being implemented and how
NAR continues to ensure that Realtor® issues are being addressed in Washington.
HOLIDAY GALA Held December 3, nearly 300 Realtors®, including

Events
new leadership, past presidents, and affiliate members attended the festive event
at the Doubletree Hotel, in downtown Charleston. The 2010 CTAR, MLS, &
CID Leadership were installed and Sandy Stone of Island Realty was named
2009 Realtor® of the Year.

Jerry Matthews In December, CTAR hosted the second

national speaker of the year. Jerry came to Charleston and presented our
members with a half-day program “Creating Your Success”, which focused on
forecasting market trends going into 2010 and how to use this knowledge to
stay ahead of the curve and build your business, no matter the economic
climate. About 150 Realtor® members and Affiliates attended this program at
Trident Tech.
Wyckoff & DeMott, P.C. and The Steinberg Law Firm raised funds and Realtors® celebrate a successful 2009 over cookies and cocoa in December.
collected more than 200 books for the Reading with Realtors program.

GIVING back
REALTORS giving BACK
The Reading with Realtors® program pairs local members of the Charleston Trident Association of Realtors® (CTAR) with
elementary aged (grades 1-4) students for a semester. The Realtors® must attend a training session prior to working with
the students, who, prior to their participation in RWR, had been identified as reading below their grade level. The
Realtors® work with the students for one hour per week, helping them develop a love for reading.

The Charleston Ballet theare invited RWR

students to a special performance. Now in its third successful year with over 40 children in the program, CTAR has contributed books and supplies for the
program and from time to time has hosted events in conjunction with the school to honor and motivate the children.
CTAR partnered with several real estate brokerages in the Lowcountry for a summer book drive and collected more than
1,000 books, which were given to the students to encourage reading throughout the summer.

The Reading with Realtors® program produced significant improvement in student MAP (Measure of Academic Progress)
test averages. MAP test scores from students in the RWR program were an average of 2 points higher than grade level
averages.
 REALTORS® HOUSING OPPORTUNITIES FUND
As with most charitable organizations in a down economy, the Realtors® Housing
Opportunities Fund (RHOF) also saw a bit of a decrease in funds this year. The fund
raised over $34,000 and granted out $48, 517 to the following charitable organizations:

Lowcountry Housing & Economic Development Foundation | Charleston Area CDC

Dorchester Habitat for Humanity | Lowcountry Contiuum of Care Partnership
East Cooper Habitat for Humanity | Home Works of America | Rural Mission
Realtor® Care Day, October 2009 Crisis Ministries | Operation Home | Sea Island Habitat for Humanity Realtor® Habitat House Dedication

Lowcountry Housing Trust | United Methodist Relief Center

REALTORS® CARE DAY

The Housing Opportunities Committee introduced a new initiative in 2009, Realtors®
Care Day. This quarterly day of caring was launched as many Realtors® were not be able
to make monetary donations to the Realtors® Housing Opportunities Fund to support
their communities, but wanted to donate their time and service.
Realtor® Care Days were held in June and October with members volunteering for the
local Habitats for Humanity in Mount Pleasant, Johns Island and Charleston.

Terry and Elizabeth Naguib, who found a

home because of the RHOF Habitat Build
RHOF DONOR APPRECIATION EVENT
Recognizing our changing economic environment, the Housing Opportunities
Committee felt it important to show thanks to those that have supported us from the
beginning.
Mrs. White received RHOF funds to restore
We held a RHOF Donor Appreciation Party in June at the CTAR offices inviting all her home to liveable condition
supporters of RHOF--sponsors of RHOF Fundraising events, Realtor® donors, and also
the leadership from the organizations to which RHOF grants funding. The party was a

Carroll Realty has donated more than

$150,000 since they began donating to
great success with about 50 supporters attending at such an important time to say “thank
you.” RHOF
RHOF through Escrow and Closing giving REALTOR HOUSING OPPORTUNITY FUND
2009 Market recap
*all data and information is current as of December 10, 2009
TOTAL SALES
During the first quarter of 2009, the Charleston market *all data and information is current as of December 10, 2009

struggled to regain its footing after the tumultuous end

of 2008. January started the year with the lowest sales
the area has seen in more than eight years, and a
median sale price of $176,750, comparable to end-year
numbers in 2004.

However, throughout the year, sales increased steadily

and median sale price rose at a slow, but healthy pace.
By June, sales were back into the 700’s for the month
and median sale price peaked at $193,000. July saw an
annual sales high of 796. median sale price
November saw an unprecedented 783 sales, an 80% *all data and information is current as of December 10, 2009
increase from the same time, one year ago. This was
the first time sales had shown an increase in November
since 2007.

Going into the final month of 2009, the Charleston

market continued to show signs of recovery. While
year-to-date sales are approximately 11% less than
2008 levels and median sale prices are down about 9%,
the consistent month-over-month gains we’ve seen in
the final months of 2009 suggest a stabilizing market.
The expansion and extension of the homebuyer tax
credit should help the market continue to grow and
recover into 2010. mARKET fACTS
marKET
T e r ry H y d e K e t c h e m | C h i e f e x e c u t i v e o f f i c e r
S a r a P e r ry | V i c e p r e s i d e n t o f o p e r at i o n s

L at oya m i d d l e t o n | a d m i n i s t r at i v e a s s i s ta n t
f r a n b oy d | ac c o u n t i n g m a n ag e r

L o r a A b l e | d i r e c t o r o f e d u c at i o n
S h e r ry M a rt i n | e d u c at i o n a s s i s t a n t

t e e n a m a rt i n da l e | m e m b e r s e rv i c e s d i r e c t o r
m a ry h e s s | m e m b e r s e rv i c e s c o o r d i n at o r
m a rv i t a t h o m a s | m e m b e r s e rv i c e s c o o r d i n at o r
J e s s i c a f rya r | m e m b e r s e rv i c e s c o o r d i n at o r

m e g h a n b y r n e s W e i n r e i c h | marketing + communicat i o n s d i r e c to r
rya n c a s t l e | g ov e r n m e n t a f f fa i r s d i r e c t o r
j o s e p h c u l l o m | i n f o r m at i o n t e c h n o l o g i e s d i r e c t o r
c l a i r e h a rt | e v e n t s c o o r d i n at o r
STAFF
Staff
C h a r l e s t o n t r i d e n t a s s o c i at i o n o f r e a lt o r s ®
c h a r l e s t o n t r i d e n t m u lt i p l e l i s t i n g s e rv i c e
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5 3 0 0 i n t e r n at i o n a l b o u l e va r d
suite c-105
c h a r l e s t o n , s o u t h c a ro l i n a 2 9 4 1 8
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843.760.9400
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