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NAR Resources: DC Legislative Podcast, ABR free to Current Members, Settlement Info, Other

2024-05-10T09:09:21-05:00May 10th, 2024|Legal FAQs|

Welcome to the Advocacy Scoop, the only podcast that takes you inside the advocacy work of the National Association of REALTORS®. We’ve turned one of our most popular conference sessions into a new, monthly podcast hosted by Chief Advocacy Officer Shannon McGahn and Director of Advocacy Communications Patrick Newton. Now you can stay up to [...]

NAR Update on MLS Updates

2024-05-03T10:28:16-05:00May 3rd, 2024|Legal FAQs|

From NAR: Ahead of our upcoming REALTORS® Legislative Meetings in Washington, D.C., we wanted to share key details of the required practice changes under our Settlement Agreement. These practice changes result in revisions to the MLS policy handbook which are summarized below. The revised policies will go into effect on August 17, 2024. A more [...]

SC Supreme Ct Reverses SC Ct of Appeals

2024-05-01T11:32:49-05:00May 1st, 2024|Legal FAQs|

https://www.sccourts.org/opinions/HTMLFiles/SC/28201.pdf SC Sup Ct reverses SC Ct of Appeals on arbitration. The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who [...]

Professional Standards, Ethics, Arbitration, Mediation, Ombudsman: Educate Yourself

2024-04-30T13:21:49-05:00April 30th, 2024|Legal FAQs|

If you are interested in REALTOR® professional standards, ethics, arbitration, mediation, and or ombudsman, or you serve as a member of the professional standards committee or grievance committee or as a mediator/ombudsman; please begin and continue your self education program at this link over time: https://www.nar.realtor/about-nar/policies/professional-standards-and-code-of-ethics/educational-resources The National Association of REALTORS® is America’s largest trade [...]

NAR Code of Ethics Excerpts on Compensation

2024-04-29T14:45:36-05:00April 29th, 2024|Legal FAQs|

Article 6 REALTORS® shall not accept any commission, rebate, or profit on expenditures made for their client, without the client’s knowledge and consent. Article 7 In a transaction, REALTORS® shall not accept compensation from more than one party, even if permitted by law, without disclosure to all parties and the informed consent of the REALTOR®’s [...]

License Law on Compensation Excerpts

2024-04-29T14:31:07-05:00April 29th, 2024|Legal FAQs|

Misconduct and Redress SECTION 40-57-710. Grounds for denial of issuance of license or for disciplinary action against licensee. (A) In addition to Section 40-1-110, the commission may deny issuance of a license to an applicant or may take disciplinary action against a licensee who: License Law: (28) allows or creates an unreasonable delay in the [...]

NAR on NAR Code of Ethics Article 16 and Standard of Practice 16-16 SOP 16-16, SCR120, SCR310 seller paid buyer’s transaction costs

2024-04-29T13:58:45-05:00April 29th, 2024|Legal FAQs|

Article 16 REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients. (Amended 1/04) Standard of Practice 16-16 REALTORS®, acting as subagents or buyer/tenant representatives or brokers, shall not use the terms of an offer to purchase/lease to attempt [...]

NAR on Written Buyer Agreements, Before Tour Unless Listing Agent

2024-04-29T11:08:19-05:00April 29th, 2024|Legal FAQs|

See NAR FAQs #46 through #62' https://www.nar.realtor/the-facts/nar-settlement-faqs The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of [...]

NAR on Written Buyer Agreements, Before Tour Unless Listing Agent

2024-04-29T11:06:47-05:00April 29th, 2024|Legal FAQs|

See NAR FAQs #46 through #62 The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the [...]

NAR: Granted Motion Preliminary Settlement Approval

2024-04-26T09:33:17-05:00April 26th, 2024|Legal FAQs|

Missouri seller class action lawsuit: Federal Judge Bough granted that motion which means that as of today, the settlement agreement is preliminarily approved.Settlement class members are now enjoined from filling complaints or prosecuting any claims based on the type of conduct at issue in Sitzer-Burnett and the other settled Actions on behalf of home sellers [...]

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