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Actions Taken by the NAR BOD May 19

Actions Taken by the NAR BOD May 19

Actions taken by the NAR Board of Directors held Saturday, May 19 in Washington, DC.

 

  1. The NAR Board recognized CMR’s own Larry Edwards as a Federal Political Coordinators receiving the Meritorious Service Award.  Larry served as liaison to Senator Thad Cochran. 

  2. Code of Ethics policy was enhanced to allow Associations to adopt policy to name violators of the REALTOR® Code of Ethics and release a photo.

  3. The Code of Ethics was further enhanced adding to Article 1, Standard of Practice 1-7 the requirement that a listing broker or agent respond in writing that an offer was submitted to the seller if the cooperating broker who submitted the offer so requests.  The listing agent must respond in the affirmative unless the seller has provided written notification waiving the obligation to have the offer presented.

  4. The NAR Board approved a $30 increase in dues with $17 funding REALTOR® Party advocacy programs and $13 funding programs such as the new Commitment to Excellence professionalism initiative, the forms and transaction management benefit and the upkeep of the Associations buildings.

  5. On the MLS front, the Board created the no-cost waiver for commercial information exchanges (CIE) fees, dues, and charges for licensees affiliated with a broker provided the licensee subscribes to at least one MLS or CIE.  The change parallels revisions in MLS policy adopted last year for MLSs and which go into effect July 1, 2018.