2025 Insurance Program ApprovedGood morning, counsel. Yesterday, the NAR Executive Committee approved the 2025 NAR Insurance Program. Lesley posted the following message to your association executives yesterday: I'm pleased to report that the Executive Committee approved the 2025 NAR Insurance Program, demonstrating NAR's continued commitment to provide this valuable risk management benefit at no cost [...]
Nick Kremydas attended the NAR Insurance Session at NAR NXT and he relays reports that insurance costs are increasing and claims against property managers are increasing, especially for criminal activities and security issues. Property managers should ensure proper insurance and lawyer drafted documents requiring insurance and indemnification from the landlord owners. This information is only [...]
SCR received a report of EPA inspecting property managers in the Charleston area regarding the EPA lead hazard/paint RRP (renovation/repairs rule). SCR received similar reports from Greenville in June 2024. https://www.epa.gov/lead/lead-renovation-repair-and-painting-program Suppose you as a property manager place an order for any employees, contractors, or independent contractors to do work on a property that disturbs [...]
https://www.narfocus.com/publication-issue/view/2024-07-15-business-money-laundering-and-terrorism-financing-1 This information is only accurate as of 11/04/24. You must contact SCR for updates and changes to this information after 11/04/24 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 information is intended only to provide [...]
https://www.nar.realtor/ae/aexperience/crafting-an-ai-use-policy This information is only accurate as of 10/30/24. You must contact SCR for updates and changes to this information after 10/30/24 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 information is intended only to provide [...]
https://www.nar.realtor/legal/new-member-must-watch-list This information is only accurate as of 10/30/24. You must contact SCR for updates and changes to this information after 10/30/24 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 information is intended only to provide [...]
A New Mexico court ruling offers an important reminder to brokers: Don’t make a vendor recommendation unless you’re sure the vendor is reliable, licensed and insured. In this case, after a broker-recommended contractor accidentally destroyed the sellers’ home, the court found the broker negligent in his duty of reasonable care. Read in REALTOR® Magazine. https://www.nar.realtor/magazine/real-estate-news/law-and-ethics/always-vet-your-vendors [...]
https://llr.sc.gov/re/News/NAR-Settlement-and-SC-Law-Guidance-10.11.2024.pdf Since electronic communication is now widespread with the public and licensees, recent technology has now made it more convenient to explain and provide an executed copy of the LLR SCREC SCDREBR to a consumer when you initially communicate about real estate and before showing real estate properties (e.g., virtual showings, physical showings, touring properties). [...]
REALTORS® should review the information below regarding your membership duties. REALTORS® may contact legal counsel asap if contacted by NAR or NAR's outside legal investigative counsel regarding you potentially being investigated for potential violations of your NAR membership duties so your legal counsel can represent you in the communications and investigation and possibly the discipline [...]
From LLR SCREC to licensees: Please be advised the previous eblast regarding the Commission's guidance of the NAR settlement inquiries contained erroneous information. For correct guidance, please visit the Commission's website, https://lIr.sc.gov/re/, and click on the Alert titled "Recent Settlement and SC Law". For more information, please contact the Commission. SCR sent the following to [...]