Knowing tax regs gives REALTORS® an advantage

Tax regulations can have serious effects on real estate transactions.

“Knowing how to use tax information in your real estate business, having an awareness of tax ramifications for consumers, helps you bring more value to the transaction,” said real estate instructor Chandra Hall.

Being armed with this information helps people live their lives proactively instead of reactively, at least tax-wise, Hall, who’s based in Colorado, noted. “When you sell your primary residence, you should be thinking ‘What are the tax benefits or ramifications?’” she said.

Hall will be presenting “The Good, the Bad, the Taxable and the Investor” at the four PAR District Conferences April 27-30. The course will help raise awareness, outline basic tax rules and show how to integrate them into a real estate business.

The tax codes changed in 1997 and the capital gains tax is more beneficial to most when they sell their primary residence. Many don’t realize the tax regulations have changed, Hall said.

“Without some of this knowledge, REALTORS® can be blamed, even though it may be outside their realm,” Hall said. “This class will outline the rules and facts behind the tax code and we’ll also show scripts and dialogues so REALTORS® can walk the line without giving tax or legal advice,” she added.

In the afternoons, her topic is “Systems Keep You Sane.” The program shows how taking advantage of the best systems can make a REALTOR’s® work day easier.

REALTORS® attending the district conferences will also have an opportunity to visit with area vendors exhibiting at the conferences.

The conference is $59 for attendees. Register online or via fax on pref.biz.

Sponsored by PA REALTORS® Education Foundation (PREF), the conferences are scheduled for:

District 1: Tuesday, April 27
Mohegan Sun at Pocono Downs, Wilkes-Barre

District 5: Wednesday, April 28
Hoag’s Celebration Hall, State College

Districts 6 and 8: Thursday, April 29
Holiday Inn Washington-Meadow Lands, Washington

District 7: Friday, April 30
The Riverside Inn, Cambridge Springs