Attention to detail is vital to your keeping your license
If you ever find yourself under investigation by MREC as a result of a complaint being filed against you, regardless of what the complaint is about, the investigators review every single document in your file pertaining to the transaction being investigated.
Do your sellers know how a buyer’s broker is paid?
You have an obligation under Article 1 of the Code of Ethics (SOP 1-12) to advise sellers of how your firm cooperates and compensates buyer’s brokers. Part of that explanation will include how compensation works through MLS.
The MLS Property Status Change Form is Not a Listing Agreement Extension Form
When your seller agrees to extend the date on the listing agreement the MLS Property Status Change Form should not be used as that extension agreement since it does not include the requirements stated in MREC Rule 3.2B
Regions Bank Offers Financial CE Classes
Regions Bank is offering two-hour education classes valuable to REALTORS® (elective CE credit provided) and their customers and clients. The topics include Financial Fundamentals, Banking Technology, Credit Reports, Identity Theft, and Fraud. Sharing this opportunity with clients and potential clients adds value to your services. Registration is directly through the contact names provided on the flier.
What happens if I’m found guilty of violating the Code of Ethics?
If after a due process hearing, it is determined that a violation occurred the following sanctions are authorized:
An automatic $500 administrative fee will be charged to a Respondent found in violation
Plus, one or more of the following authorized sanctions:
REALTOR® Emeritus Status – Criteria Changing
2019 is the last year that the criteria for earning the REALTOR® Emeritus award are limited to 40 years of REALTOR® membership and prior service at the local or state levels of the REALTOR® organization. Beginning in 2020, the criteria will also include service at the National level.
Do your photos in MLS promote your seller’s interests?
Sellers hire you to bring a buyer to the property. If your photos don’t entice a buyer to make an appointment to see it, you might not be promoting the seller’s interest (Article 1 of the Code of Ethics). Take a moment and review your photos from your seller’s perspective asking yourself, “Do my photos make someone want to see the property?”
Do you always have the seller document and date a rejection of an offer as well as an acceptance?
Many obligations in the Code of Ethics are also obligations in License Law. That is particularly true with the language added to the Code of Ethics in 2019 requiring listing brokers to provide proof to cooperating brokers that an offer was presented. The same obligation with similar language has ALWAYS been in license law.
REALTORS: That’s Who We R®
Today is a banner day for REALTORS® as we launch That’s Who We R®, the new national ad campaign from the National Association of REALTORS®. The campaign showcases the passion and dedication you bring to your work while telling the story of who you are as advisors, advocates, volunteers, neighbors—and real estate professionals committed to a Code of Ethics.
That’s the REALTOR® difference. That’s who you are.