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Do your sellers know how a buyer’s broker is paid?

posted: 03/18/2019

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.

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The MLS Property Status Change Form is Not a Listing Agreement Extension Form

posted: 03/18/2019

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

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Regions Bank Offers Financial CE Classes

posted: 03/18/2019

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.

[Download Flyer]

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What happens if I’m found guilty of violating the Code of Ethics?

posted: 03/11/2019

If after a due process hearing, it is determined that a violation occurred the following sanctions are authorized:

  1. An automatic $500 administrative fee will be charged to a Respondent found in violation
  2. Plus, one or more of the following authorized sanctions:
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REALTOR® Emeritus Status – Criteria Changing

posted: 03/11/2019

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.

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Do your photos in MLS promote your seller’s interests?

posted: 03/11/2019

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?”

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Do you always have the seller document and date a rejection of an offer as well as an acceptance?

posted: 02/26/2019

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.

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REALTORS: That’s Who We R®

posted: 02/26/2019

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.

[Campaign Announcement]
[Tell Your Story]
[Memo: That’s Who We R®]

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Do Your Clients Know About the First-Time Homebuyer Savings Account?

posted: 02/19/2019

Individuals can deduct up to $2500 from their state adjusted gross income when they make deposits into a First-Time Homebuyer Savings Account. Couples and deduct up to $5000 a year. To learn more on the who, what, where, when, why, and how, visit firsthomems.org.

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Both the REALTOR® Code of Ethics and MLS have a new rule in 2019 related to the presentation of offers

posted: 02/19/2019

Have you ever wondered whether or not your buyer’s offer was actually presented by the listing agent to the seller? Failure of a listing broker to provide written affirmation to a cooperating broker indicating that an offer was presented is now a violation of BOTH the REALTOR® Code of Ethics and MLS rules.

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CMR and MLS Are Closer to Moving to the New Location

posted: 02/12/2019

The MLS building downtown at 620 N. State Street has sold and closed. The MLS and CMR staff will continue to provide services out of the N. State Street location for about a year. The new headquarters will be located on Sunnybrook Road in Ridgeland behind Patty Peck Honda and in front of Ridgeland High School.

It’s all in how you ask.

posted: 02/12/2019

The two awkward questions REALTORS have to ask a potential buyer can open the door to a better relationship from the beginning if asked a different way.

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Proposed Bylaws Changes

posted: 02/04/2019

On February 19 REALTORS® will have the opportunity to vote on proposed bylaws revisions recommended by the Board of Directors to strengthen the structure of the Board of Directors.

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HB 366: REALTORS® Helped Make It Happen!

posted: 01/28/2019

Today marks the 21st day of the 2019 Legislative Session. This week, the committees in the House and Senate will be busy considering bills in advance of the upcoming February 5th deadline for committees to report on legislation.

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How Does That Work? A Limited Function Referral Office (LFRO)

posted: 01/21/2019

REALTOR® Brokers have an option to open a separate office for the purpose of waiving REALTOR® dues and MLS fees for agents who want to keep an active license with MREC but choose to work in a very limited capacity.

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Writes a Buyer’s Agent to a Listing Agent: “Please give me affirmation that you presented my offer.”

posted: 01/21/2019

And the listing agent’s response in writing should be “I’ll be happy to.  On  ____ date at _____time your offer was presented to the seller/landlord  and on  ______ at _____ seller/landlord chose to _______.”

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CFA: Tell the Senate to Pass HB 366 IMMEDIATELY

posted: 01/21/2019

The Mississippi REALTORS® are issuing a Call For Action on the Mississippi Senate to immediately adopt HB 366, the Mississippi Broadband Enabling Act.

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Taking Care of Business

posted: 01/07/2019

License Law and the REALTOR® Code of Ethics requires and expects agents to be diligent in taking care of business.   The following are real, recent examples of not taking care of business.  Ensure your business practices does not include these.

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What’s new in the Code of Ethics for 2019?

posted: 01/07/2019

NAR has recognized that a growing dilemma facing buyers’ agents is the assurance that the listing agent presented their offers.   The following NEW Standard of Practice 1-7 has been added to Article 1 of the Code of Ethics that obligates listing brokers to provide, upon written request of a buyer’s agent, written affirmation that an offer was presented or written notification that the seller waived the obligation to have the offer presented.   

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REALTOR® Safe Harbor App

posted: 01/07/2019

The REALTOR Safe Harbor application and website created and managed the Arkansas Association of REALTORS® is no longer available.  We ask that all members uninstall the application from all devices.

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NAR Helps Secure FEMA Reversal on New Flood Policies During Shutdown

posted: 01/07/2019

In a critical win for home sales, while the partial shutdown of the federal government is ongoing, the Federal Emergency Management Agency will issue and renew flood insurance policies, reversing an unexpected and controversial ruling the agency released last week. 

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How does that work -- REALTOR® Membership and MLS Participation?

posted: 12/17/2018

CMR members who joined the Association beginning in 2008 got this education as part of their REALTOR® Orientation; however, REALTORS® who joined before 2008 may not have taken it.  It’s a good review of some concepts that are often misunderstood.

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NAR: New Phishing Attempt

posted: 12/10/2018

Many National Association of REALTORS® members received a solicitation last week, purportedly from the REALTOR® Party, asking for donations to fund medical expenses for a young girl. This solicitation is not from the REALTOR® Party or the National Association of REALTORS®. NAR never solicits donations for personal or individual charities. 

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Are you steering buyers without realizing it?

posted: 12/03/2018

You are if you are using any personal biases to suggest to a buyer where he/she might want to live or not live.

Agents use different approaches to engage in unlawful steering such as:

  • Recommending homes to clients for consideration
  • Editorializing about areas the client should or should not consider

 

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How are annual dues bills calculated?

posted: 11/26/2018

Annual dues bills for the 3 REALTOR® organizations are not the same as the previous year and are calculated as follows:

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