ETHICS CHANGES THAT CAN IMPACT YOUR REAL ESTATE WORK
Did you know that The National Association of Realtors (NAR) Board of Directors made a few small but important changes to MLS and other rules November of last year?
There were 2 Ethics Changes done to improve cooperation among brokers and reinforce the importance of associations’ ethics procedures and here’s a brief recap.
- Proceeding with Ethics Complaints When Criminal Litigation is Also Involved
Associations are allowed to continue to process ethics complaints when there is criminal litigation pending that involves the same facts and circumstances.
- Enforcing Cooperation via MLS through Written Certification of Offer Presentations
The Board amended MLS Policy Statement 7.73 regarding the rights of cooperating brokers in the presentation of offers. The policy reinforces cooperation and brings MLS policy in line with the Code of Ethics.
Under the rule, listing brokers will be required to provide written affirmation or notification to cooperating brokers on the disposition of their offer. The requirement gives associations the ability to impose disciplinary action against a listing broker who fails to present either written confirmation that the offer was presented or evidence that the seller waived the obligation to have the offer presented.
Did you get the memo? If not then here it is for you. But if you answer Yes, then here’s a reminder from us!
About the writer: Shaura Cuyan writes about all the hottest Real Estate trends and predictions for Summit VA Solutions! She has previously written for a number of freelancing gigs and writes her own blog on lifestyle and current issues. She is a Graduate of Bachelor of Arts in Communication, taking up her Masters in Development Communication.