Here is a 1999 NAR article and the case law that illustrates the high risk for an associated licensee or BIC to buy a brokerage listing...or for associated licensee or BIC to sell to a brokerage buyer client....or engage in leasing with similar parties. To proceed, you need lawyer drafted formal agreements for self-dealing that… Continue Reading Self Dealing, Darby v. Furman, High Risk for Brokerages
Now that business is slowing a bit with the changing seasons, it’s a great opportunity to get your YPN members involved in the industry and in your local community. Here are five event ideas you can recreate in your group. 1. Partner with Habitat for Humanity Get your YPN members involved in a great cause… Continue Reading ‘Fall’ for These 5 Seasonal YPN Event Ideas
SCR310 Residential Contract can operate without a financing contingency if the buyer has cash or uses the due diligence addendum. SCR310 Section 7 Financing Contingency requires the buyer to make a good faith effort to get their purchase money loan but does allow the buyer to terminate up to closing if the lender does not… Continue Reading How to Work Without a Financing Contingency
With interest rates rising and house price appreciation slowing down or depreciating in some metro areas, it is worth recalling the conditions that prevailed prior to the housing market’s downturn in 2005 and to compare these with current market conditions. The table below compares key indicators on the housing market, employment, and household credit in… Continue Reading How Do Housing Market Conditions Compare in 2004 and 2018?
https://www.llr.sc.gov/POL/REC/RECPDF/RECNewsletterOct2018.pdf Posted by : Byron King on 10/23/18 (This information is only accurate as of 10/23/18. You must contact SCR for updates and changes to this information after 10/23/18 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)
Recently, it was discovered that LLR published two versions of their Residential Property Condition Disclosure Statement aka seller disclosure in June of 2017 under the same form designation "6/2017" at the bottom of the form. Here is the current LLR version of this form: https://www.llr.sc.gov/POL/REC/RECPDF/Property%20Condition%20Disclosure%20Statement.pdf The screaltors.org website is updated with his version and zipForms… Continue Reading Check Your Forms Library – SCR230 LLR Seller Disclosure
The REALTORS® Confidence Index (RCI) survey[1] gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from September 2018. View and download the full report here. Market Conditions and Expectations The REALTORS® Buyer… Continue Reading REALTORS® Confidence Index Survey: September 2018 Highlights
The 2018 SCR Board of Directors approved allowing complainants to remain anonymous to respondents when the complaint only includes a citation level offense. SCR staff will see the complainants name on the filed written ethics complaint. Citation level offenses are typically less egregious offenses and are listed below. Most of these are related to advertising… Continue Reading Citation Offense = Potential Anonymous Ethics Complainants to Respondents
Article 12 of the NAR Code of Ethics is centered on advertising communications. Advertising can be in many forms, including Facebook. Many portions of Article 12 (advertising) fall under the SCR citation program (aka ethics traffic tickets for less serious ethics violations, notably advertising ethics) whereby the respondent can accept any offered fine and education… Continue Reading Spell Out What You are Offering
Home stager: Kelly Kurtz, a licensed REALTOR(R) with Exit Options Real Estate and founder of Simply Well Simply Organized The home: This cottage was located in a small community in Groton, Mass. The home was rundown, and the owner had accumulated years of belongings that were scattered everywhere. Kurtz knew the home needed a deep… Continue Reading Staged to Sell: A Vintage Cottage in Need of Some TLC