Leasing/Renting, Fair Housing, Brokerage Policy – Compensation & Areas of Practice

//Leasing/Renting, Fair Housing, Brokerage Policy – Compensation & Areas of Practice

Leasing/Renting, Fair Housing, Brokerage Policy – Compensation & Areas of Practice

For fair housing risk management purposes, REALTORS® are reminded to always describe the property not the actual/ideal buyers, sellers, landlords, tenants themselves.

Describe the real estate. Even when describing real estate, be careful. Even benign sounding terms can result in issues (e.g. walkable/disability, near Baptist Church/religion, great backyard for kids/familial status).

Do not describe the people.

It is very easy to be accused of violating fair housing protected classes when you are not extremely careful when mentioning issues in advertisements, communications, or solicitations for properties for a client/customer.

Terms that can get real estate licensees facing fair housing accusations can include terms such as single/married, children, no children, religion, male/female, familial status, disability, sexual orientation, gender identity in addition to the protected classes that usually trigger a self alert (e.g. race, color, national origin).

Licensees should know what types of agency and non-agency their brokerage handles.

Licensees doing anything real estate related with third parties should work through their brokerage.

Licensees who solicit rentals for clients/customers should ensure that their brokerage practices in this area and be extremely cautious about informal communications on social media such as Facebook and in casual everyday conversations.

Licensees should ensure that brokerage and license law formalities are always followed when communicating about any real estate.

Licensees should ensure that their independent contract agreement covers what types of real estate practice can be performed and all compensation issues are covered such as commission splits, leads, referrals, compensation while at the brokerage, compensation while leaving brokerage, compensation after leaving brokerage, team compensation, communications with clients/customers before/during/after brokerage, etc.

Posted by : Byron King on 5/10/18 (This information is only accurate as of 5/10/18. You must contact SCR for updates and changes to this information after 5/10/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)

By |2018-05-10T11:51:53+00:00May 10th, 2018|Legal FAQs|0 Comments

About the Author:

mm