NAR Code of Ethics Article 12: Standard of Practice 12-4 REALTORS® shall not offer for sale/lease or advertise property without authority. SC real estate license law: (E)(1) A licensee may not advertise, market, or offer to conduct a real estate transaction involving real estate owned, in whole or in part, by another person without first… Continue Reading Advertising Properties with/without Listing Agreement
Pop quiz, do you know what C.L.U.E. stands for? (See the answer at the bottom of this article.) p.s. If you do not know what a C.L.U.E. report means in general and you practice real estate, you are already at risk for a lawsuit. [Contact asap your BIC, your law firm, your E&O insurer, the SCR legal… Continue Reading Insurance Problems, Flood Insurance Problems, CLUE report
Home prices continue to increase although the pace of price appreciation has slowed. As of June 2018, the national median sales price of existing homes sold rose to a peak of $276,900, the highest level since 20001 when NAR started tracking this data. However, the pace of appreciation has been slowing. In June 2018, the… Continue Reading Which Metro Areas Have Rising Prices and Faster Selling Time as of June 2018?
AKA Psychologically affected...AKA Psychological Impact...AKA Psychological Stigmas While no legal duty exists to disclose psychological stigmas, it may be in the seller's best interests to disclose "psychological stigmas" in the seller's disclosure...here's why. If the seller does not disclose in the seller disclosure, then the contract may proceed for weeks/months toward closing but the day… Continue Reading Murders and Ghosts and Deaths and Crimes and Rumors/Reports and Real Estate
This blog was written by NAR Research’s intern, Bronwen Leibe. Hi again, it’s me, the research intern! Let’s take a closer look at this year’s member profile! In the 2018 NAR Member Profile, females still make up 63 percent of all REALTORS®. This remains notably constant throughout years of experience (girl power!). Females dominate the profession,… Continue Reading A Dive into 2018 Member Demographics
Interesting read on SC Supreme Court's take on a house flipper's business license fees. https://www.sccourts.org/opinions/HTMLFiles/SC/27829.pdf Please read the footnote #1 on page #1. The City's ordinance refers to this as a business license "fee"; however, a business license fee operates essentially as a tax Posted by : Byron King on 8/16/18 (This information is only… Continue Reading Business License Fees, SC Supreme Court Case
The National Association of REALTORS® quarterly home prices increased again this quarter. Prices continue to drift up this quarter with 90% of the markets showing home price appreciation. We can also look at the top metro areas whose price grew the fastest. Housing affordability is down and for first time buyers qualifying incomes are rising… Continue Reading Second Quarter Single Family Metro Market Prices
"Classic" Mediation: This is the long-established NAR "assisted self-settlement" procedure where REALTOR® mediators are trained to act as a peacekeeper/facilitator/realist to assist the disputing parties in reaching their own self-settlement. Mediators then help the parties write down their settlement on the NAR mediation form and the parties sign. Because the parties arrived at the decision… Continue Reading What is Ombudsman aka Ethics Mediation?
As the real estate sustainability movement continues to grow, the National Association of Realtors® is proud to introduce the Sustainability Resource Guide, a resource especially created for associations and members to positively impact business practices. NAR research shows real estate consumers are requesting more information about the sustainability aspects of their real estate investment, and… Continue Reading NAR Leads the Dialogue on Sustainability, Develops Resource Guide
Only use SCR313 comfortably when your buyer is timely/properly terminating under SCR311 due diligence. https://screaltors.org/wp-content/uploads/Forms/313.pdf For all other uses of SCR313, you should be very worried and always recommend your buyer seek legal counsel asap before taking any actions or submitting any SCR313 or communicating any termination to the other side (e.g. seller, seller's rep).… Continue Reading Terminating and Earnest Money