Law and Policy Headlines from REALTOR.org

Contract Contingency Costs Broker Commission

Wed, 10 Jun 2009 15:43:35 -0500

New Jersey court rules that because the contingency was not satisfied within protection period, the brokerage could not collect its commission.

Model Letter for MLSs to Enforce New Membership Requirement

Tue, 9 Jun 2009 14:15:45 -0500

NAR has created a letter that MLSs can use when contacting participants who may not meet the requirements of the new rule.

Court Upholds Discipline of Licensees

Wed, 27 May 2009 14:18:24 -0500

New York court finds administrative judge acted properly in imposing sanctions for a transaction involving a variable commission rate.

"No Listing" Agreement Not a Listing

Wed, 20 May 2009 16:12:43 -0500

Iowa court rules that seller and broker's agreement to not list property for sale created a contract that was not an enforceable listing agreement.

Fraud Alert

Tue, 19 May 2009 14:47:08 -0500

The Treasury Department has alerted NAR to a scheme in which individuals try to buy real estate with fake promissory notes and bonds.

Price Increase or Unearned Fee? How to Protect Your Bottom Line

Mon, 4 May 2009 15:39:33 -0500

A federal district court recently ruled that an administrative brokerage fee (ABC Fee) paid by a home buyer to the brokerage firm that represented her was not sufficiently related to any specific settlement service performed for her benefit, resulting in a violation of Section 8(b) of the Real Estate Settlement Procedures Act (RESPA).

Tenant's FHA Lawsuit Proceeds

Fri, 24 Apr 2009 12:13:31 -0500

Minnesota federal court allows action alleging race and familial status discrimination against landlord to continue.

Association Ordered to Hold New Election

Wed, 1 Apr 2009 12:34:22 -0500

New York court finds the way that the association conducted the first election required a second election.

April Podcast: Legal Tools, Right Now!

Wed, 1 Apr 2009 12:34:01 -0500

NAR General Counsel Laurie Janik identifies the legal resources available to members for free or at cost on realtor.org.

No Liability for Client's Injuries

Thu, 26 Mar 2009 16:37:31 -0500

Indiana court dismisses lawsuit against owner and real estate professionals for injuries suffered when client fell down basement's unlit stairs.

Challenges to Scrap Metal Ordinance Denied

Wed, 18 Mar 2009 15:34:09 -0500

In a case where NAR filed a brief in support of the law, a federal court rejects constitutional arguments against Memphis's regulations.

March Podcast: Marcel Bryar

Wed, 4 Mar 2009 09:38:23 -0600

Fannie Mae Deputy General Counsel discusses the challenges the agency faces in the current housing market.

Licensees Disciplined in Downpayment Scheme

Thu, 26 Feb 2009 15:32:27 -0600

Mississippi court affirms sanctions against licensees for role in arranging financing.

DOJ Subpoena Reimbursement Fund

Wed, 4 Feb 2009 10:47:43 -0600

NAR Legal Action Committee will consider the fees incurred by REALTOR® firms, MLSs, and REALTOR® associations at NAR's Midyear meetings.

Sample VOW License

Thu, 29 Jan 2009 14:58:38 -0600

NAR has drafted a sample license agreement for use by MLSs to license a data feed to a MLS participant's VOW.

Attorney Can Terminate Contract for No Reason

Wed, 28 Jan 2009 14:55:30 -0600

New York's highest court rules that attorney review clause can be used to disapprove a purchase agreement without the attorney specifying a cause.

Landlord Wins FHA Lawsuit

Wed, 21 Jan 2009 14:54:36 -0600

Michigan court rejects disabled applicant's lawsuit over landlord’s denial of his request for an accommodation despite his poor credit history.

January Podcast: MLS Compliance with RETS

Wed, 14 Jan 2009 14:59:13 -0600

Mark Lesswing, NAR’s Chief Technology Officer, discusses this new requirement for REALTOR® MLSs.

Challenge to Association Arbitration Rejected

Fri, 9 Jan 2009 08:49:40 -0600

A Massachusetts court has denied a member's lawsuit over alleged deficiencies in an arbitration hearing conducted by a REALTOR® association. Please note: The following link is to a member-only area of the site.

Insurance Program Documents Mailed to Associations

Wed, 31 Dec 2008 14:56:03 -0600

The 2009 policy and other documents for NAR's Professional Liability Insurance Program REALTOR® associations will be mailed to associations starting on January 5th.

IRS Requires Reporting of Cooperative Commissions

Mon, 29 Dec 2008 14:55:29 -0600

Listing brokers are required to file a 1099-MISC for all real estate commission payments made in excess of $600.

Broker Liable for Inaccurate Garnishment Responses

Thu, 18 Dec 2008 14:54:52 -0600

Nebraska's highest court affirms award because broker should have known that salesperson had closings scheduled during the next sixty days.

Model Governance Policies for REALTOR® Associations

Mon, 1 Dec 2008 14:54:24 -0600

Associations are adopting policies in preparation for the new Form 990- click below to view the policies that other associations have already contributed.

NAR-DOJ: Final Settlement Details

Thu, 20 Nov 2008 10:06:19 -0600

Important changes to NAR MLS policies and model rules require action by all MLSs no later than February 15, 2009.

Broker Liable for Inaccurate Garnishment Responses

Wed, 12 Nov 2008 10:07:46 -0600

Nebraska's highest court affirms award because broker should have known that salesperson had closings scheduled during the next sixty days.

Antitrust Lawsuit Against Association Dismissed

Wed, 29 Oct 2008 10:36:13 -0600

Texas federal court rules that former member's lawsuit failed to allege any harm to competition.

Broker Denied Insurance Coverage

Wed, 15 Oct 2008 10:34:44 -0600

Idaho federal court rules that carrier had no duty to defend or indemnify broker because lawsuit's allegations were barred by the policy's exclusions.

October Podcast: Broker Price Opinions ("BPOs")

Wed, 15 Oct 2008 10:31:33 -0600

REALTOR® Pamela Kinkade discusses the potential risks for real estate professionals when engaging in this activity.
Listen now >

NAR Monitoring Carrier Status

Mon, 22 Sep 2008 10:30:46 -0600

View latest information about Professional Liability Insurance Program carriers.

FDIC Insurance Information

Wed, 8 Oct 2008 10:29:19 -0600

Learn how this insurance protects your bank accounts, including escrow accounts.

Association Overturns City Housing Plan

Wed, 3 Sep 2008 10:28:14 -0600

Idaho court rules that ordinances requiring developers to set aside units for affordable housing or pay a fee to a housing fund were unconstitutional.

Episode 17: Marx Sterbcow on RESPA Enforcement

Wed, 3 Sep 2008 10:24:56 -0600

Attorney Marx Sterbcow discusses recent investigations by HUD.

Buyer's Fraud Lawsuit Fails

Wed, 3 Sep 2008 10:23:11 -0600

South Carolina court rules that inspection put purchaser on notice of possible problems and so seller’s incomplete disclosure form was not an issue.

Episode 16: Laurie Janik on the DOJ Settlement

Wed, 6 Aug 2008 10:22:01 -0600

NAR General Counsel Laurie Janik explains the details of the agreement and its impact on multiple listing services.

Ethics Training Quick Reference Guide

Fri, 1 Aug 2008 10:19:50 -0600

Before 12/31/08, every NAR member is required to complete 2.5 hours of Code of Ethics training. Here's a one-stop tip guide for taking the free, online course.

Salesperson Sued by Drunken Snowmobiler

Wed, 30 Jul 2008 10:21:09 -0600

Minnesota court considers lawsuit arising from injuries suffered when driver hit salesperson's sign.

Association Awarded Legal Fees

Wed, 30 Jul 2008 10:18:59 -0600

Indiana court rules that member's judicial challenge to an ethics hearing was frivolous.

Short Sale Work Flow Report

Fri, 18 Jul 2008 10:18:00 -0600

See the new educational tool from NAR's Risk Management Committee that is designed to provide an overview of a short sale transaction.

Episode 15: Raymond Natter on New FACT Act Regulations

Wed, 9 Jul 2008 10:17:01 -0600

Attorney Raymond Natter discusses how these regulations will impact real estate brokerages.

Broker's Duties Established in Statutory Language

Wed, 18 Jun 2008 10:15:59 -0600

Florida court rejects argument that licensee is subject to common-law agency duties when there is no representation agreement between the parties.

Episode 14: John Pierpoint and Karen Paschal on Form 990

Tue, 10 Jun 2008 10:14:38 -0600

Learn about the revisions to the tax form filed by section 501(c)(6) trade associations.

Advertising Website Does Not Need License

Wed, 14 May 2008 10:13:40 -0600

New Hampshire federal court rejects website's First Amendment challenge to state's license laws, finding these laws did not apply to the website.

REALTOR® Arbitration Process Upheld

Wed, 7 May 2008 10:12:14 -0600

New Jersey appellate court reverses lower court's vacation of award.

Episode 13: Robert A. "Bob" Marske Economic Census

Wed, 7 May 2008 10:11:03 -0600

Learn why the financial reporting form from the U.S. Census Bureau is important.