Top issues for the legal update at the SCR Broker Summit.
Professionalism – broker involvement – broker leadership "text BIP to 30644"
Forms – January 2020 residential sales/agency – November drafts
Phones – do not call laws – expired/withdrawn listings
Facebook – off MLS marketing – listing agreement – seller’s best interests – NAR/MLS
Brokers’ involvement and supervision of their associated licensees to improve professionalism are critical and required by the pursuit of profitability as a service providing business, REALTOR® ethics, and SC license law.
Text "BIP" to 30644. Broker involvement is critical.
SCR residential sales agreements and agency agreements forms update in January. Residential sales: upfront due diligence fee and due diligence addendum and AS IS addendum will be incorporated alongside repair procedure. Agency forms will incorporate photography licensing and audio/video surveillance issues from the transaction brokerage agreements. Get brokerage ownership of photography rights. Disclose surveillance is risk management. No cameras in bathrooms is risk management. Electronic listening to the conversations with others is risky for eavesdropping/wiretapping laws, so the seller should obtain legal counsel asap.
Forms drafts expected by the end of October.
Smartphones. The legal hotline number is 803-772-5206 and legal or Byron or Austin or Nick The "800" legal hotline has been closed for years, please do not call this 800 number. Change your contact information, please. SCR technology helpline 877-573-5607.
Brokers train your associated licensees to comply with federal and brokerage cold call solicitation rules and laws regarding expired and withdrawn listings. Always check the do not call registries and comply with do not call laws at all times. Do not target active MLS information. Be courteous and professional with the phone (e.g. call at reasonable times, be polite on the phone). Understand that owners and their relatives may be bombarded with dozens of solicitation calls from morning to evening, so they will likely be frustrated and upset with solicitation calls.
Facebook: you must have your listing agreement to advertise the property. For most sellers, MLS marketing is in the seller’s best interests (e.g. best terms, DOM), so be wary of your associated licensees using private Facebook groups to market "off MLS" when that may not be in the seller’s best interests. A small number of sellers may give informed consent for "off MLS" marketing (e.g. celebrities, unusually private individuals, divorcing owners in certain circumstances). Nick Kremydas discussed proposed NAR model MLS rules to remedy abuses in this "off MLS" marketing strategy. The NAR annual conference may include discussions on these proposed MLS rules in November 2019. Some coming soon strategies fall into this area as well.
SCR forms are now licensed to zipForms, Docusign, and Dotloop.
Posted by: Byron King on 10/02/19 (This information is only accurate as of 10/02/19. You must contact SCR for updates and changes to this information after 10/02/19 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org)