Important - Compensation Field Removal from CRMLS on August 13th.

Posted by Communications on Jul 10, 2024 5:39:08 PM

Effective August 13:

  1. Removal of Compensation Fields
    • From Matrix, Paragon, and Flexmls.
    • CRMLS Rules and Policy changes go into effect.
    • The concession field at Close will include a category list.

Key Points:

  • Reason for Removal:

    • NAR settled the Sitzer/Burnett case regarding MLS commissions.
    • Compliance with the settlement requires MLS systems to remove all Compensation fields.
  • Impact on Active Listings:

    • Compensation fields for Coming Soon, Active, Hold, and Withdrawn listings will be removed.
  • Historical Listings:

    • Compensation fields for Active Under Contract, Pending, Closed, Expired, and Cancelled listings will remain but cannot be edited.
  • C.A.R. Forms:

    • Release of updated forms postponed. Updates will be provided.
  • Payment Methods Post-Removal:

    • Buyer's Broker compensation can be included in the buyer's offer.
    • Payment details can be included in the Escrow Instructions if using the C.A.R. Residential Purchase Agreement.
  • CRMLS Rules & Policy Changes:

    • Rule 7.15: Renamed to No Offers of Compensation in the MLS.
    • Rule 7.19: Renamed to No Disclosure of Listing Broker Total Commission.
    • Rule 9.1: Renamed to Showings.
    • A signed Buyer Broker Agreement is required before showing a property.
    • View all changes here.
  • Reporting Seller Concessions at Close:

    • New required fields: Closing Costs, Property Improvements, Financing Costs, Buyer Broker Fee, Other, and Total Calculated.
  • Difference Between Concessions and Compensation:

    • Concessions allow buyers to choose how money is spent, supporting a consumer-centric model. Watch the Concessions vs. Compensation video for more information.
  • Staying Updated:

    • Visit the CRMLS Resource Center frequently for updates and information.

compensation

 

Topics: CRMLS

PSAR Announces Its 2025/26 Board of Directors and Officers

Posted by PSAR Communication on Jul 1, 2024 4:43:32 PM

2025 President-Elect
Claudia Zaker

Claudia Zaker


2025 Secretary / Treasurer
Michael Dullea

Michael Dullea


The Election winners for the 2025/2026 Director Term

David Fletes
David Fletes

 

Mike AndersonMike Anderson

 

Valerie Gardner
Valerie Gardner

 


Robert Cromer

Robert Cromer

 

Oscar VegaOscar Vega Board Member

 

Phana ParPhana Par Affiliate Director

Affiliate Director

The 2024 Board of Directors and Officers will remain and serve PSAR until December 31st, 2024.

Your Board of Director Team for 2025

Yvonne Cromer, 2025 President

Claudia Zaker, 2025 President-Elect

Michael Dullea, 2025 Secretary-Treasurer

Laurie MacDonald, Immediate Past President

Mike Anderson, 2025/2026 Director

Robert Cromer, 2025/2026 Director

David Fletes, 2025/2026 Director

Valerie Gardner, 2025/2026 Director

Charmaine Orcino-Gonzales, 2024/2025 Director

Paula Gonzalez, 2024/2025 Director

Monica Greenwood, 2024/2025 Director

Jim O'Donnell, 2024/2025 Director

Norma Scantlin, 2024/2025 Director

Oscar Vega, 2025/2026 Director

Phana Par, 2025/2026 Affiliate Director

________________________________________________

PSAR's Mission is to empower Real Estate Professionals.

Since 1928, the Pacific Southwest Association of REALTORS® has played a significant role in shaping the history, growth, and development of the Real Estate industry in San Diego County.

Thank you to those who were nominated to lead PSAR. Great things are expected from the elected candidates and those serving on PSAR's committee leadership roster.

Topics: Leadership

New Feature Alert: Access by Appointment Now Available foR Sentrilock Users

Posted by Communications on Jun 25, 2024 1:45:27 PM

As of June 24th, the Access by Appointment (ABA) setting is now available for Sentrilock users. LIcensees can now restrict access to their lockboxes, allowing entry only to agents with an approved appointment on SentriKey. This feature can be easily enabled using either the SentriKey Real Estate (SKRE) app or the SentriKey website. 

Enabling ABA ensures that only approved licensees can access your property’s lockbox, enhancing security and control. Follow these simple steps to get started and secure your listings effectively.

What is Access by Appointment?

Access by Appointment (ABA) is a feature that requires REALTORS® to have an approved appointment in the SentriKey system to access the lockbox assigned to a listing. This feature adds an extra layer of security, ensuring that only those with scheduled access can enter the property.

How to Enable ABA on the SentriKey Real Estate App:

sentrilock app


  1. Open the SKRE App: Start by opening the SentriKey Real Estate app on your smartphone.
  2. Access the Menu: From your Home Screen, tap the Menu icon in the upper left-hand corner.

  3. Select My Lockboxes: Navigate to 'My Lockboxes'.

  4. Assign the Lockbox: If the lockbox is not already assigned to a property, select 'Assign/Unassign Property' and complete the assignment process. If the lockbox is already assigned, proceed to 'Property Access Settings' and choose the listing.

  5. Enable ABA: Select' More Settings' once the lockbox is assigned. Here, you can turn on the ABA feature.

 

How to Enable ABA on the SentriKey Website:

Sentrilock Access by Appointment
  1. Log In to SentriKey: Visit the SentriKey website and log in to your account.

  2. Go to Listings: Select 'Listings' from the toolbar on the left-hand side of the screen.

  3. Select Your Listing: Click on the Ellipses (three dots) on the right-hand side of the listing you wish to manage.

  4. Enable ABA: Choose 'Enable ABA' from the dropdown menu.

 

 

By following these steps, you can easily manage property access and ensure that only approved REALTORS® can enter your listings.

Stay Informed and Secure

Keeping your properties secure is crucial. SentriLock’s ABA feature provides peace of mind by adding layer of control over who can access your listings. For more tips and tutorials on managing your properties effectively, subscribe to our blog and stay updated with the latest real estate technology insights.

Let’s unlock success together!

Topics: Announcements, Sentrilock

Understanding the New Concession Fields in the MLS

Posted by Communications on Jun 20, 2024 10:29:00 AM

Key Changes:

  1. New Concession Fields (CiP):

    • Added to the MLS on May 29.
    • Concessions are now formally introduced at the listing level.
  2. Removal of Compensation Fields:

    • Effective August 13, compensation fields will be removed from the MLS.

How It Works:

  • Concessions:

    • The seller may agree to pay the buyer for concessions, such as closing costs or loan points.
    • These concessions must be included in the purchase agreement and negotiated between the buyer and seller.
    • The buyer can allocate concession amounts to various costs, including reducing the purchase price, covering loan points, or paying for title and escrow fees.
  • Buyer Representation Agreements:

    • Starting in August, the fee for the Buyer’s Broker will be set in a mandatory buyer representation agreement before property tours.
    • This ensures that the Buyer’s Broker’s fee is predetermined and not influenced by concessions.

Benefits:

  • For Buyers:

    • More flexibility in how to use concession amounts.
    • Greater transparency in the costs associated with purchasing a property.
  • For Sellers:

    • Flexibility to offer concessions without specifying exact amounts.
    • It helps buyers craft more tailored offers.

CRMLS Adjustment Period:

  • As these new practices are implemented, there will be a period of adjustment.
  • CRMLS is committed to transparency and efficiency as users adapt to these changes.

This new approach aims to provide more flexible options for buyers and sellers in real estate transactions.

Questions? 

Chat with CRMLS Compliance Here

DALL·E 2024-06-18 10.22.14 - Abstract depiction of negotiations, featuring intertwining shapes and contrasting colors representing two sides. The image should have a dynamic balan

 

"By failing to prepare, you are preparing to fail." – Benjamin Franklin

Posted by PSAR Communication on Jun 19, 2024 9:54:05 AM

benjamin franklin in preparation

 

Be prepared for major changes in Real Estate transactions and buyer representation that roll out this summer.
Updated July 10th, 2022.

Why did the Practice Change on August 17, 2024?

 

PSAR Training Zoom and Local

Nikki Coppa Vice Chair of C.A.R. Forms will host and update on Zoom on July 18th at 1 PM.  Registration link to come.

Join Broker Rick Hagen for two three-hour classes where he will take deep dives into:

  • Forms & Function of the Residential Listing Agreement (RLA)
  • Forms & Function of the Buyer Representation & Broker Compensation Agreement (BRBC)

PSAR, CAR, and NAR offer educational resources to Realtors that target their need to quickly learn about policy and procedural changes and how to conduct business in the real estate marketplace after August 17 of this year. (Note: NAR or CAR login is required to access many of these member benefits)

Get up to speed on C.A.R. forms updates and how to utilize the revised versions in your business transactions.

CAR Town Hall Meetings (Register Here)

CAR Form Training Free for members use code FORMS49   (Register Here)

C.A.R. New Forms & Business Practice Resources (Updated July 10, 2024)

  • Forms and resources
  • News and Statements
  • Legal Presentations & Townhalls
  • Courses & Training Video
  • Designated Email Address for Forms Questions: july2024forms@car.org

July 10, 2024 Forms release List of new & revised FORMS RELEASE: 
(note: items with an asterisk indicate new forms)

    • Broker Compensation Advisory (BCA)
    • Buyer Financial and Personal Information (BFPI)*
    • Buyer Identification of Preferences and Priorities (BIPP)*
    • Buyer Material Issues for a Specific Property (BMI-SP)*
    • Buyer Representation and Broker Compensation Agreement (BRBC)
    • Cancellation of Buyer Representation (COBR)
    • Modification of Terms – Buyer Representation Agreement (MT-BR)*
    • Modification of Terms – Listing Agreement (MT-LA)*
    • Multiple Listing Service Addendum (MLS)*
    • Notice of Broker Involved Properties (NBIP)
    • Open House Visitor Non-Agency Disclosure and Sign-In (OHNA-SI)*
    • Property Showing and Representation Agreement (PSRA)*
    • Residential Listing Agreement (RLA)
    • Residential Purchase Agreement (RPA)
    • Seller Payment to Buyer’s Broker (SPBB)
    • Tenant Representation and Broker Compensation Agreement (TRBC)*
    • Other listing agreements and purchase agreements have also been conformed to the changes to the RLA and RPA, respectively.

Latest updates from NAR

Fine-tune your knowledge and skill set by attending a FREE Accredited Buyer's Representative (ABR) class.

If you missed the live PSAR l ABR class, the NAR offers two free alternatives:
 

      • Schedule a live instructor-led online ABR class. Select <ABR Designation> as the course title, and <Instructor Led> as the Delivery Format here. This usually paid-for class is FREE until the end of 2024; the cost returns to $110 in 2025.

      • Take a Free self-paced 12-hour online course.  Access it here.

Latest updates from CRMLS

  • CRMLS resources, policy changes, Concessions Field, and a video from the CRMLS attorney: More info.
  • Compensation is to be removed from CRMLS on August 13th.
  • A summary of information about the NEW CRMLS Concessions Field from PSAR is here.

 

Summary of Key Findings from the PSAR Forum on California’s Homeowners Insurance Crisis:

Posted by PSAR Communication on Jun 18, 2024 9:59:27 AM

A recent forum at the PSAR East County Events Center addressed California’s homeowner's insurance crisis. Experts shared insights and discussed ongoing efforts to improve the situation. Key takeaways include:

  • Legislative Efforts: Legislators and state officials are actively working to solve insurance problems.
  • Appeal Process: Consumers can appeal insurance cancellations through the California Department of Insurance.
  • Regulatory Changes: The California Department of Insurance is considering regulations for forward-looking risk modeling to facilitate policy writing.
  • Rate Hikes: State regulators may approve double-digit rate hikes as part of the Sustainable Insurance Strategy.
  • HOA Challenges: Homeowners associations face significant increases in master policy prices.
  • Early Shopping: Members’ clients should start shopping early for homeowners insurance due to rising costs.
  • Cal Fire Resources: Cal Fire offers maps, home inspection resources, and suggestions for creating defensible space.
  • Economic Realities: Factors like home age, and age of electrical, plumbing, and roofing systems contribute to higher rates. Inflation and increased home values also drive premium surges.
  • Catastrophe Modeling: Allowing insurers to use future risk assessments with historical data might reduce reliance on the FAIR Plan, the insurer of last resort.
  • FAIR Plan Safety Net: The FAIR Plan is crucial for many Californians amid climate-related threats.
  • Legislative Insights: Insights into legislative efforts to control insurance costs were provided by Chris Jonsmyr from Assemblymember David Alvarez’s office.

The panelists included: Cal Fire Battalion Chief Alex Elward, Sharon Smith - California Department of Insurance, 
Maureen Moran - PSAR Member & Insurance Agent, Bob Hillard - PSAR Member & Insurance Agent, and Chris Jonsmyr - Office of Assemblymember David Alvarez

Thank you to Kay LeMenager - PSAR Broker, Organizer of the Forum, and Chair of PSAR’s Government Affairs Committee who worked with the East San Diego County Government Affairs Sub-Committee to host this informative event.  

Please see this link for an FAQ from the California Commissioner of Insurance.

Topics: Education, Government Affairs, Industry

HIGHEST MORTGAGE RATES IN 5 MONTHS DAMPEN HOME SALES

Posted by Rick Griffin on Jun 4, 2024 7:00:00 AM

HIGHEST MORTGAGE RATES IN 5 MONTHS DAMPEN HOME SALESHome prices and home sales in San Diego County are continuing to surge, despite mortgage interest rates at the highest levels in five months, according to the latest home sales and price report from the California Association of Realtors (C.A.R.).

Sales of existing, single-family homes in San Diego County increased 6.2% from April 2024 to May 2024. In a year-over-year comparison, between May 2024 and May 2023, the sales pace was 0.7% higher.

Also, the average existing, single-family detached home in San Diego is selling for more than $1 million. The median sales price in May 2024 was $1,025,000, a small 2.1% decline from $1,047,500 in April 2024. A year ago, in May 2023, the median price for a San Diego home was $935,000, a difference of 9.6% with May 2024.

Statewide, the May 2024 real estate market was a slightly different story.

Higher mortgage rates hampered California home sales, both on a monthly and an annual basis. In addition, the statewide median home price exceeded $900,000 for the second straight month to set another record-high.

 

May 2024 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

May 2024 County Sales and Price Activity (Regional and condo sales data not seasonally adjusted)

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 272,410 in May 2024, according to information collected from more than 90 local REALTOR® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2024 if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

May 2024’s sales pace dipped 1.1 percent from the revised 275,540 homes sold in April 2024, and were down 6.0 percent from a year ago in May 2023, when a revised 289,860 homes were sold on an annualized basis. The sales pace remained below the 300,000-threshold for the 20th consecutive month and year-to-date home sales were flat.

“California home sales stalled in May as mortgage rates reached the highest level in five months and may have contributed to the slowdown in market activity,” said C.A.R. President Melanie Barker, a Yosemite REALTOR®. “However, a moderation in interest rates in the past couple of weeks and recent improvements in housing inventory could create an opportunity for motivated buyers to reenter the market before the homebuying season peaks.”

The statewide median price set another record high in May 2024, edging up 8.7 percent from $835,280 in May 2023 to $908,040 in May 2024, exceeding the $900,000-benchmark for the second month in a row.

California’s median home price was 0.4 percent higher than April 2024’s $904,210. The year-over-year gain was the 11th straight month of annual price increases for the Golden State. CAR said seasonal factors and tight housing supply conditions are expected to put upward pressure on home prices in the coming months.

Stronger sales of higher-priced properties continued to contribute to solid median price growth in May 2024, especially since million-dollar home sales in California have been rising more rapidly than their more affordable counterparts in the state. Sales in the million-dollar-and-higher market segment rose 15.5 percent year-over-year in May 2024, while sales in the sub-$500,000 segment declined by 12.2 percent. Sales of homes priced above a $1 million now make up 36.6 percent of all sales, the biggest share in the last five years.

California easily boasts the most million-dollar cities where the median home price is above $1 million. New York and New Jersey follow behind California.

California is home to 210 million-dollar cities, more than the next five states combined, and 12 more than a year ago. In San Diego County, 10 cities or communities with typical home values above $1 million include Rancho Santa Fe, Del Mar, Coronado, Solana Beach, Encinitas, Carlsbad, Poway, Bonita, Pala and Bonsall.

“A persistent shortage of homes for sale, particularly in the more affordable market segments, continued to push up California’s median home price to new record highs over the past couple of months,” said C.A.R. Senior Vice President and Chief Economist Jordan Levine. “With mortgage rates coming back down from their recent peaks and market competition heating up, the statewide median price may have more room to grow before the summer ends."

 

Other key points from C.A.R.’s May 2024 resale housing report include:

  • At the regional level, home sales in all major regions continued to soften when compared to their year-ago levels, including -1.0% for Southern California.

  • At the regional level, all major regions registered an increase in their median price from a year ago, including a double-digit price gain of 10.0% for Southern California.

  • The unsold inventory statewide index, which measures the number of months needed to sell the supply of homes on the market at the current sales rate, remained flat at 2.6 months in May 2024, the same number for April and March 2024. In May 2023, the index was 2.1 months.

 

May 2024 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

May 2024 County Unsold Inventory and Days on Market (Regional and condo sales data not seasonally adjusted)

 

  • The unsold inventory index of available existing homes for sale in May 2024 in San Diego County was 2.4 months. The figure was 1.7 months in May 2023. For previous 2024 months, the figures were 2.2 months in April and March, 2.3 months in February and 2.6 months in January. Inventory levels indicate the number of months it would take for the available supply of homes on the market to sell-out given the current rate of sales.

  • Active listings at the state level rose on a year-over year basis for the fourth straight month, and the increase was the largest in 15 months.

With recent economic reports showing some promising signs that inflation could be cooling in a more sustainable fashion for the rest of the year, mortgage rates may moderate in the coming months as the daily fluctuations in yields continue. Further improvement on the supply side could be observed in the California housing market before the end of the home buying season.

  • The median number of days it took to sell a California single-family home was 16 days in May 2024 and April 2024, and 17 days in May 2023.

    In San Diego, the median number of days it took to sell an existing, single-family home was 12 days in May 2024, a figure that was identical to April and March 2024 and May 2023.

  • C.A.R.’s statewide sales-price-to-list-price ratio was 100% in May 2024, a figure that was identical to April, March and February 2024, as well as May 2023.

  • The 30-year, fixed-mortgage interest rate averaged 7.06 percent in May, up from 6.43 percent in May 2023, according to C.A.R.’s calculations based on Freddie Mac’s weekly mortgage survey data.

Topics: Brokers/Managers, Market Information

GOOD NEIGHBOR AWARD: TRACY GIORDANO, COMMUNITY SERVICE IS HER PASSION

Posted by Rick Griffin on Jun 3, 2024 10:00:00 AM

GOOD NEIGHBOR AWARD: TRACY GIORDANO, COMMUNITY SERVICE IS HER PASSION

Congratulations to PSAR REALTOR® Tracy Giordano, a recipient of a PSAR Good Neighbor award.

Volunteering and serving her community isn’t an obligation for Tracy. Rather, it’s her passion. “It gives me a sense of fulfillment and purpose, knowing that I’m making a positive impact on the lives of other people,” she said.

Tracy was born and raised in La Mesa. She is a fourth-generation San Diegan. Family members relocated from Nova Scotia and Boston to San Diego in 1909, the same year Tracy’s great-grandmother was born in San Diego.

Tracy has deep roots in the community and a strong commitment to its well-being, as seen in her involvement as a volunteer with several organizations.

Tracy graduated from Helix Charter High School in 1998 (her husband Gabriel, a business consultant, graduated from Helix in 1994). Since 2021, Tracy has served as a board member on the Helix Charter High School Foundation. For the past two years, she has chaired the Foundation’s largest fundraiser, a golf tournament that recently raised $13,000 for scholarships.

From 2010 to 2022, when her three children were attending St. Martin of Tours Academy in La Mesa, Tracy supported the K-through-8th-grade school’s fundraising activities and served as a school board member for eight consecutive years, including as president her final year. For six years, from 2015 to 2021, she chaired the school’s Walkathon fundraiser. She also chaired the school’s 2014 Gala which raised more than $75,000.

In 2022, Tracy became a member of the La Mesa Village Association, a non-profit organization of local business owners. In 2023, she furthered her commitment as a board member and currently serves as membership officer and community liaison.

She works closely with village business owners and community members to foster collaboration and enhance the local area while supporting small businesses. She also organizes several community networking mixers in the Village, as well as weekly spotlight interviews to showcase local business owners (you can find all her interviews on Instagram, @lamesavillageassoc.

The La Mesa Village Association organizes several annual community events, including the La Mesa Car Show, the weekly Farmer’s Market, and Holiday in the Village. In addition, the La Mesa Village Association also sponsors several local events and foundations, including Octoberfest, La Mesa Parks and Recreation Foundation, and the Mt. Helix Park Foundation

Earlier this year, Tracy joined the Mt. Helix Park Foundation board of directors. The Foundation is responsible for preserving and enhancing the park that includes an outdoor amphitheater with a 1,600-person capacity and cross memorial on top of Mt. Helix. The Foundation was formed in 1999 to maintain the preserve of Mt. Helix Park, a registered California Point of Historical interest.

“As a child, I remember climbing the amphitheater’s stone rows and admiring the cross,” said Tracy. “The preservation of this historic landmark is something that is very important to me. So, it was a no-brainer for me to join the board and give my direct support to the Mt. Helix Park Foundation.” 

In 2018, Tracy earned her California real estate sales license. As a REALTOR®, she represents clients with both residential and commercial property transactions.

“I love real estate because it’s a relationship-type business,” she said. “I’ve been successful with referrals from previous satisfied clients.”

Tracy’s involvement with PSAR has included supporting YPN events and attending weekly pitch sessions. “I also appreciate the educational events, which help all of us gain more knowledge and extend our expertise as REALTORS®. Our association feels like family to me.”

The PSAR Good Neighbor awards are intended to recognize individuals, not associations or companies.

Nominees must be REALTOR® or Affiliate members and an active licensed practitioner in good standing with PSAR.

Judging of nominees will be based on the level of personal contribution, especially volunteer (unpaid) hours, though contributions of money and other resources also will be considered.

Some portion of the nominee’s work must have taken place within the 12 months before the nomination rolling deadline of the last business day of each month.

If an individual within your company can be singled out as instrumental to the success of a group effort, then he or she is eligible. If the achievements of two people (such as a married couple or co-founders of an organization) cannot be separated, then they can enter as a pair and their entry will be considered as one.

Nominations for a quarterly PSAR Good Neighbor award can be submitted by emailing Sally Valdez, PSAR VP of Operations, at sally@psar.org.

Topics: Announcements, Leadership

New Optional Fields Make Agent Communication easier and Direct

Posted by Communications on May 30, 2024 3:21:21 PM

As of May 29, all CRMLS Paragon and Matrix now feature optional "Concessions in Price" (CiP) fields. These fields help communicate the seller's willingness to offer concessions, providing sellers an edge and giving buyers a clearer idea of a property's total cost. Learn how to navigate the CiP fields in this guide and find them in your MLS system here:

Last year, nearly 40% of CRMLS closed listings included some form of concession, such as broker fee payments or repair costs. Previously, this information was only available after a listing closed. Now, active listings will display concession details, motivating sales and making it easier to find the perfect property.

For sellers, the new fields allow highlighting a willingness to offer concessions. For buyers, identifying listings with potential incentives helps overcome financial obstacles. The CiP fields benefit everyone.

New Concessions in Price (CiP) Fields:

  • Concessions in Price: A text box for numerical input only, representing the total potential concessions.
  • Concessions in Price Type: Classify the amount as either a dollar amount ($) or a percentage (%).
  • Seller Consider Concessions?: A simple Y or N field. If "Y," additional information appears when hovering over the help (?) icon, indicating that the seller may consider a buyer concession in an offer.

By CRMLS launching these optional fields before the deadline, subscribers will gain valuable real-world implementation experience. This early access allows for necessary adjustments based on practical feedback, ensuring a smoother transition when the fields become mandatory.

For questions, please refer to the FAQ.

Remember, the CiP fields are optional, and concessions are not mandatory.

 

 

Topics: CRMLS

GOOD NEIGHBOR AWARD: MARLOW MARTINEZ HELPS THE DOWNTRODDEN

Posted by Rick Griffin on May 30, 2024 11:00:00 AM

GOOD NEIGHBOR AWARD: MARLOW MARTINEZ HELPS THE DOWNTRODDEN

Congratulations to PSAR REALTOR® Marlow Martinez, a recipient of a PSAR Good Neighbor award.

Since 2013, Marlow, a Chula Vista resident, has been making friends and changing lives via the Marlow B. Martinez Sr. (MBM) Foundation, a 501(c)3 nonprofit.

Named after his late father who passed away in 2013, Marlow and his MBM foundation have been easing burdens and assisting families during their most tumultuous times for more than a decade.

Marlow’s volunteer efforts have included providing families with Christmas gifts, supplying Thanksgiving dinners, and organizing holiday toy drives, backpack and school supply drives. Other activities include surprising children in low-income families with birthday parties, and delivering meals to military families and the elderly during the Covid-related lockdowns.

Marlow’s inspiration for helping others is based on his father’s example of community service. At age 14, Marlow’s father took on a fatherly role for his single mom and eight siblings. During his 40-year government career, Marlow’s father created a nonprofit to ensure minorities had ample and fair opportunities at management-level government jobs.

Two of Marlow’s father’s favorite sayings were “Don’t worry when you are not recognized, but strive to be worthy of recognition,” and “A community is much better if we look out after one another versus taking from one another.”

Here is Marlow’s story about the founding of the MBM Foundation.

“I was living in Murrieta in 2011 when my dad had a severe stroke,” said Marlow. “He was 62 years old and in great shape. He went from working full-time to being 100% dependent, requiring 24-hour care with a feeding tube and tracheotomy in his neck. Rather than send him to a care facility, we took him home. My brother and I became full-time nurses overnight.

It was a two-year battle. He was in a wheelchair and learning to walk again. The doctors said his progress was nothing short of a miracle. I was determined to give him the best opportunity to live.

Then, he had another stroke and we lost him. His funeral drew 300 people from all over the country. I had no idea how many people my dad had helped. He helped people get better jobs and encouraged them to get an education. He was a dedicated father and community friend with a heart of gold. Even today, strangers ask me if I’m Marlow’s son.

When he passed away, I wanted to keep his work and spirit alive. So, I created the MBM Foundation in his honor. We’ve been lucky to have blessed so many families.”

Marlow says his real estate career has paid for his living expenses for nearly 20 years. He has worked as a loan officer and real estate agent. He earned his broker's license in 2011. He also has worked as a property-and-casualty insurance broker and substitute elementary school teacher. He has been a member of PSAR since 2008.

“Over the past 14 years, I have bought and sold out-of-state flips and still continue to own an out-of-state portfolio of homes,” he said. “I’m working on my first apartment building purchase."

“Real estate has taught me to look for opportunities and know a good market when I see one. Real estate will always be part of my life because it allows me to remain involved in the community and with disadvantaged youth. My heart is filled with passion to try and make these kids’ lives better and prepare them for a better future.”

For more information about the MBM Foundation, visit www.facebook.com/marlowbmartinezfoundation/.

Topics: Announcements, Leadership