Net Listings = Unethical (Agent is a Speculator) Case #1-3: Net Listing (Originally Case #7-3. Revised May, 1988. Transferred to Article 1 November, 1994.) Client A called REALTOR® B to list a small commercial property, explaining that he wanted to net at least $170,000 from its sale. He inquired about the brokerage commission and other… Continue Reading No Net Listings
Multiple Offers! Multiple offers are good problems to have for sellers and listing brokerages. http://www.realtor.org/field-guides/field-guide-to-multiple-offers#sf3517115 Because only one buyer will be happy, it is important for REALTORS to treat all potential buyers with respect, fair play, and equal opportunity during any multiple offer situation. The NAR Code of Ethics is based on the golden rule.… Continue Reading multiple offers
E-Signatures are Eco Friendly and Green! Plus, you will look high tech to clients. More clients are wanting to use e-signatures. http://ypnlounge.blogs.realtor.org/2014/06/25/not-using-e-signatures-heres-why-you-should/?om_rid=AAEG6Z&om_mid=_BTsayqB865rHYX&om_ntype=RMODaily Posted by : Byron King
Coming Soon Signs and Pocket Listings = Risk The SC Real Estate Commission at LLR requires a specific listing agreement (address and price and other terms required) before using "coming soon" signs and online advertising. Here is NAR on the topic as well. 'Coming Soon' Properties Examined in Legal Article In case you missed it:… Continue Reading Coming Soon
Bad Tenants, Bad Checks The Charleston area property managers groups reports that cities like Charleston and Greenville have "Worthless Check" enforcement teams operating from the local Solicitor's offices. These enforcement teams are reported to do a great job to help you get checks that will not bounce. Posted by : Byron King
CL100 Info Buyers often negotiate for the longest possible due diligence period and can increase price and due diligence termination fee to convince seller to agree. Because a repair procedure deadline or due diligence deadline may occur prior to the CL100 requirement to be within 30 calendar days of closing, SCR forms contain a wood… Continue Reading Clemson Regulates CL100 Issues
Use SCR391 (Addendum with Common Clauses) During recent forms training, it was noted that some members are unaware of a useful SCR form. SCR 391 - Addendum with Common Clauses (check the ones the parties want to use). Use SCR391 with SCR300 (new residential form now for condos and residences) and SCR310 (2013 residential form)… Continue Reading SCR391
https://www.counseling.org/docs/default-source/Branches/simplified-roberts-rules-of-order.pdf?sfvrsn=0 Posted by : Byron King
SCR encourages members to send legal reports of trials, settlements, lawsuits, etc. to SCR. Law libraries only record SC Court of Appeals decisions and SC Supreme Court decisions. Trial level issues rarely get appealed, so reporting would help SCR identify risks. Please Forward Legal Issues to Your SC REALTORS Legal Staff SCR needs your help.… Continue Reading Please Send Trial Court Decisions to SCR
Lockup Your Stuff! Please educate sellers to secure valuables, drugs, alcohol, weapons, identity theft information, and sentimental value items when listing their property. Sellers should carry appropriate insurance. Sellers may want to obtain alarm and video surveillance. REALTORS should use reasonable care when in a listed property. Potential buyers have been known to pilfer, leave… Continue Reading Lock Up Your Stuff!