Here is a quick update from OCAR on items that may affect your brokerage, including:
- FIRPTA withholding rate changes 2/17
- New Law Changes CE Requirements for License Renewal
- New Member Benefits: MLS-Touch, Fountain Valley office
- Mark your 2016 Calendar: OCAR Events and Fundraisers
- Register today for 3/21 Forecast/Annual Meeting
FIRPTA withholding rate changes 2/17
For sales on or after February 17, the Foreign Investment in Real Property Tax Act (FIRPTA) withholding rate increases from 10% to 15%, when the property’s sales price exceeds $1M—residence or not.
New Law Changes CE Requirements, License Renewal
A new law (AB 345) that took effect on January 1 requires a continuing education (CE) course on Management and Supervision of real estate licensed activity for:
- Brokers renewing for the first time and
- Brokers and Salespersons renewing for a second or subsequent time
- OCAR's tips on how to renew your license
- You can take the required course as part of your 12 FREE CE online courses offered by C.A.R.
- CalBRE's updated CE requirements
- Realty Times article by Bob Hunt lists new course contents
New, Free Member Benefit: MLS-Touch
MLS-Touch is now free for OCAR REALTORS®-- a savings of $99/year. This state-of-the-art app brings rich MLS data to your favorite mobile device. Watch this two-minute video for feature highlights and download/login instructions.
New FV Office Opens Feb 24; HB Closes March 11
To better serve our members, OCAR is moving from Huntington Beach to a new, full-service office in Fountain Valley. The FV office opens for business on February 24. The HB office will remain open until March 11.
Mark Your 2016 Calendar: OCAR Events and Fundraisers
March 21 Market Forecast & Membership Meeting—Register Today!
April 13 Fountain Valley Office Open House
May 16 Golf Tournament—Register to Play
June 29 Broker Summit: The Future of the MLS
August 5 OCAR Palooza
October 24 REAL SOCIAL Conference
December 2 Installation
Thank you for your membership!