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Legal Blog
The Legal Blog brought to you by NVAR's Professional Standards department helps you stay on top of the latest rules and regulations in the industry.
Check back often to keep up with latest information.
Sep 16, 2016
FTC Rule Requires Short Sale Disclosures
The Federal Trade Commission has issued a final rule which requires three different disclosures from real estate agents assisting their clients in selling or purchasing a short sale property.
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Sep 16, 2016
Broker Audit Form DPOR Inspection Form
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Sep 16, 2016
Hidden Threats
Any real estate activity conducted subsequent to the expiration date of a license may constitute unlicensed activity and be subject to prosecution.
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Sep 16, 2016
Debunking Legal Myths: Kickback Vs. Rebate
A kickback is viewed as increasing the costs to consumers without providing anything of value. In certain circumstances, such as those covered under the Real Estate Settlement Protection Act, a kickback may be illegal.
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Sep 16, 2016
Obligation to Disclose Defects Relating to Article 2 of the Code of Ethics
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Sep 16, 2016
Licensee contract validity
It is possible that a contract written by a non-licensee could be valid, because the fraud and misrepresentation are not being committed by the principals to the contract (buyer and seller) but by one of their agents.
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Sep 16, 2016
Follow Listing Agreement Rules And Our Code
The NVAR listing agreement specifically provides that you, the agent, will use a lockbox, not a combination box on your listing
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Sep 16, 2016
What exactly is a “common interest community manager?
A CIC manager is defined as a person or business entity that provides management services to an association for a fee or other compensation.
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Sep 16, 2016
Avoiding Pitfalls in the World of Social Media
As a Realtor®, if you operate a blog, you must delete false or misleading comments or publish clarifications about them as soon as you have determined they are false or misleading.
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Sep 16, 2016
Who represents the buyer when a sub-agent is involved in the real estate transaction?
The listing agent and sub-agent both represent the seller while the buyer remains unrepresented in the real estate transaction
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Sep 16, 2016
Realtor’s® Guide to Well & Septic Part One
The expected life of a conventional septic system during these periods was 25 years. They were intended to serve the homes until they were connected to public sewer.
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Sep 13, 2016
Realtor’s® Guide to Well & Septic Part Two
Defining the benchmark for a pass or fail grade is often the most difficult part of the well or septic inspection.
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Sep 13, 2016
I am changing companies, and I currently have properties listed. What happens to those listing?
The listing agreement and the buyer/broker agreement are both agreements between the client and the broker not you, the agent.
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Sep 13, 2016
Call Before Showing
The authorization is often contained in the showing instructions of the MRIS listing. When an agent follows those instructions, he or she receives authorization to access the property.
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Sep 13, 2016
Do's and Don'ts on Real Estate Assistants
More and more assistants are taking calls and providing substantive answers to other agents or members of the public who enquire about a specific property. Here is a quick reminder of what an unlicensed assistant can and cannot do.
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Sep 13, 2016
Legal Myths Kickback vs. Rebate
Commission credits can be accounted for correctly in a number of the ways on the HUD-1 settlement statement
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Sep 13, 2016
Examples of Offenses Subject to the New NVAR Citation System
Examples of what might qualify for the Citation System
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Sep 13, 2016
A listing has more than 1 association. What are the fees?
The Code states that each association may charge the full fees allowed under the law.
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Sep 13, 2016
Does the seller have to consent to sub-agency?
A listing agent should discuss sub-agency with a seller when taking a listing to determine whether or not the seller will consent to sub-agency.
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Sep 9, 2016
How do I get compensated when I represent a buyer who decides to purchase a property in an area that is not covered by MRIS, but serviced by another MLS?
In order for a broker to accept an offer of compensation, he or she must be able to access the listing and, more specifically,
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