Members sometimes wonder why the SCR Hotline says that the REALTOR® must recommend the parties obtain legal counsel. Here is one reason, the NAR Code of Ethics. See SOP 1-8 and Article 13 and Article 1 below. SHALL means a REALTOR® will do something or potentially face an ethics complaint. REALTORS®, acting as agents or [...]
"I affirm via this document/text/email/form that the counteroffer has been submitted to the buyers/tenants." or "NOTICE: the buyers/tenants have waived the obligation to have the counter offer presented." [Warnings: Not many buyers/tenants will waive this obligation. For risk management, get any such waiver in writing and signed by the buyers/tenants.] Upon the written request of the [...]
https://www.sccourts.org/opinions/HTMLFiles/COA/5876.pdf Posted by: Byron King on 12/14/21 (This information is only accurate as of 12/14/21. You must contact SCR for updates and changes to this information after 12/14/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This [...]
Earnest Money in a Failed Deal Contact the SCR Legal Hotline (803-772-5206)(legal). Keep your BIC and team in the know. Who holds the earnest money in a failed closing? Lawyer or BIC? If a lawyer holds the earnest money: Ask that lawyer what is needed to disburse? SCR518? Mediation agreement? Other? Upon taking the buyer's [...]
2022 cooperating brokers who are REALTORS® must provide to the listing broker, as soon as practical, written affirmation that the counter-offer has been presented has been submitted to the buyers/tenants (or written notification that the buyers/tenants have waived the obligation to have the counter-offer presented). Revised Standard of Practice 1-8 of the Code of Ethics [...]
https://magazine.realtor/live/article/2021/11/so-you-received-an-ethics-complaint-now-what?AdobeAnalytics=ed_rid%3D56072%26om_mid%3D5816%7CRealtorMagTips_2021_12_07_Agents%26om_ntype%3DREALTOR%20MAG%20TIPS Or...watch the SCR lawyers explain the top ten ways to avoid receiving an ethics complaint! https://www.youtube.com/watch?v=PSKGoM7OF2Y Posted by: Byron King on 12/07/21 (This information is only accurate as of 12/07/21. You must contact SCR for updates and changes to this information after 12/07/21 as laws and regulations may change over time. SCR 803-772-5206 or [...]
At both the NAR Board of Directors meetings in 2021, NAR has published several new case interpretations on Article 10 (aka the fair housing and no hate speech/symbols article). NAR Article 10 Case Interpretations #6, 7, 8, 9, 10, and 11 are from 2021 and explain how the new additional language to Article 10 was [...]
https://www.inman.com/2021/12/02/is-the-bible-hate-speech-nar-hate-speech-provision-faces-first-big-test-in-missoula/ Posted by: Byron King on 12/02/21 (This information is only accurate as of 12/02/21. You must contact SCR for updates and changes to this information after 12/02/21 as laws and regulations may change over time. SCR 803-772-5206 or email info at screaltors.org or email byron at screaltors.org) This information is not legal advice. This [...]
Oregon's government requires seller's agents to reject any buyer love letters and photos starting in 2022. However, Oregon buyers in 2022 intent on sending love letters to sellers could still send communications directly to the sellers and bypass the seller's agent. https://www.natlawreview.com/article/oregon-bans-home-buyers-love-letters-to-sellers In order to help a seller avoid selecting a buyer based on the [...]
That Standard of Practice 12-1 be amended as follows, (underscoring indicates additions, strikeouts indicate deletions): Unless they are receiving no compensation from any source for their time and services, REALTORS® may use the term “free” and similar terms in their advertising and in other representations only if they clearly and conspicuously disclose: 1) by whom [...]