Michael Crist

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So far Michael Crist has created 2464 blog entries.

Professional Standards

By | March 20th, 2018|Legal FAQs|

REALTORS, AE's and Professional Standards Staff This is a must read webpage. Ensure you save this link and use it often. Great information on the REALTOR professional standards program: http://www.realtor.org/code-of-ethics/ethics-complaints-arbitration-requests-and-related-information?om_rid=AAAZah&om_mid=_BT4i3cB87oJU%243&om_ntype=INSWeekly Posted by : Byron King

SC Supreme Court on MOU’s

By | March 20th, 2018|Legal FAQs|

SC Supreme Court Rules on Contracts, MOU's Memorandums of Understand (MOU) are not contracts says the SC Supreme Court. http://www.judicial.state.sc.us/opinions/HTMLFiles/SC/27434.pdf MOU's are common in commercial real estate transactions. Posted by : Byron King

When Rep Agreements End

By | March 20th, 2018|Legal FAQs|

Form Lesson! There are two SCR standard forms that can be used to release a listing (SCR250) or buyer agency relationship (SCR255) prior to the expiration date of the listing agreement or buyer agency agreement. The client can agree to a protection period or payment in exchange for early release. While a client (principal) can [...]

Jail for Fraud

By | March 20th, 2018|Legal FAQs|

Man Gets 30 Months for Manufactured and Modular Home Loan Fraud http://www.charlotteobserver.com/2014/08/13/5104483/hickory-man-sentenced-to-30-years.html#emlnl=Top_Stories%3A_Business_Review Posted by : Byron King


By | March 20th, 2018|Legal FAQs|

Rain = Moisture = Mold US EPA on mold. Remember: Molds are common in the southern USA. Buyers should always consider hiring mold inspectors who check air quality (spores, etc.) too. Some people have medical reactions to common molds. Some molds are toxic to humans. SCR forms reference mold as a way to manage risk. [...]

Psychologically Stigmatized Property

By | March 20th, 2018|Legal FAQs|

Murder/Suicide: PA Supreme Court Says Not a Material Defect SC law labels pure psychologically affected stigma to a real property as something that is not legally required to be disclosed. (SC Code 27-50-270 and 40-57-180) http://www.scstatehouse.gov/code/t27c050.php http://www.scstatehouse.gov/code/t40c057.php However to avoid upset buyers and lawsuits as occurred in PA, sellers should consider disclosing psychological stigma. While [...]

Due Process and Professional Standards

By | March 20th, 2018|Legal FAQs|

Due Process in Ethics and Arbitration Hearings Remember in high school civics class when fundamental rights in trials were discussed? Those same ideas apply to REALTOR ethics hearings and arbitration (commission dispute) hearings. Right to know the charges against you. Right to face your accuser and question them. Right to legal counsel. Right to time [...]

Fair Housing Demographic Data

By | March 20th, 2018|Legal FAQs|

Good and Bad Demographic Information from Fair Housing Point of View Recent reports are that providing racial demographic maps to buyer clients can lead to the REALTOR® being accused of racial steering and fair housing violations. While NAR Code of Ethics allow REALTORS® to provide good demographic information, REALTORS® may not provide race, religion or [...]

Summary of Ethics and Arbitration Hearings

By | March 20th, 2018|Legal FAQs|

REALTOR Ethics and Arbitration (commission dispute) Hearings in a Nutshell The Chair of the Hearing Panel of REALTORS makes opening remarks. Both sides make opening statements. Complainant produces evidence (testimony, witnesses, documents, video) to prove their case by "clear, strong, convincing" (ethics case standard) or "preponderance" (arbitration money standard). Other side tries to poke holes [...]