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April 10, 2012
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Case Studies
Professional Standards Spotlight read story
Article 2 REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real ...
5/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Article 2 REALTORS® shall avoid exaggeration, misrepresentation, or concealment of pertinent facts relating to the property or the transaction. REALTORS® shall not, however, be obligated to discover latent defects in the property, to advise on matters outside the scope of their real ...
5/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
New Case Interpretations - Interpretations of the Code of Ethics Case #16-21: Continued Contact With Potential Seller Who Enters Into an Exclusive Listing With Another REALTOR® (Adopted November, 2011) REALTOR® P and Ms. Q had been members of the church choir for several years and ha ...
4/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
New Case Interpretations - Interpretations of the Code of Ethics Case #16-21: Continued Contact With Potential Seller Who Enters Into an Exclusive Listing With Another REALTOR® (Adopted November, 2011) REALTOR® P and Ms. Q had been members of the church choir for several years and ha ...
4/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Interpretations of the Code of Ethics read story
New Case Interpretation #16-20: Continued Contact With Potential Seller Who Enters Into an Exclusive Listing With Another REALTOR®, was adopted as follows: At the conclusion of a detailed listing presentation, REALTOR® B asked the sellers whether they had any questions. "No," ...
3/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
New Case Interpretation #16-20: Continued Contact With Potential Seller Who Enters Into an Exclusive Listing With Another REALTOR®, was adopted as follows: At the conclusion of a detailed listing presentation, REALTOR® B asked the sellers whether they had any questions. "No," ...
3/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Fair Housing Rules read story
Staying Current is Critical As all of you know, selling houses entails a lot more than just selling houses. From taxation issues, to business licensing issues, to financial regulations and fair housing laws, there seems to be a long list of things that have nothing to do with closing a deal ...
2/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Staying Current is Critical As all of you know, selling houses entails a lot more than just selling houses. From taxation issues, to business licensing issues, to financial regulations and fair housing laws, there seems to be a long list of things that have nothing to do with closing a deal ...
2/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
New Case Interpretations - Interpretations of the Code of Ethics New Case Interpretation #16-19: Continued Contact with Potential Seller Who Enters into an Exclusive Listing with another REALTOR, was adopted as follows: After a decades-long career as a noted researcher and teacher, Prof ...
2/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
New Case Interpretations - Interpretations of the Code of Ethics New Case Interpretation #16-19: Continued Contact with Potential Seller Who Enters into an Exclusive Listing with another REALTOR, was adopted as follows: After a decades-long career as a noted researcher and teacher, Prof ...
2/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Case Interpretations Related to Article 1 Source: NAR Case #1-13: Obligation to Present Subsequent Offers After an Offer to Purchase Has Been Accepted by the Seller (Adopted November, 1987 as Case #7-17. Transferred to Article 1 November, 1994.) REALTOR® A had a 90-day exclusive listin ...
1/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Case Interpretations Related to Article 1 Source: NAR Case #1-13: Obligation to Present Subsequent Offers After an Offer to Purchase Has Been Accepted by the Seller (Adopted November, 1987 as Case #7-17. Transferred to Article 1 November, 1994.) REALTOR® A had a 90-day exclusive listin ...
1/1/2012
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
A Broker Can Be Held Liable for Salesperson's Violation of Fair Housing Act read story
Mary Ellen and David Holley ("Buyers"), a mixed race couple, were looking to purchase property in Twenty-Nine Palms, California. The Buyers visited Triad, Inc... D/b/a/ Triad Realtor ("Brokerage") to help them with their search and spoke with Grove Crank, a Triad representa ...
12/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Mary Ellen and David Holley ("Buyers"), a mixed race couple, were looking to purchase property in Twenty-Nine Palms, California. The Buyers visited Triad, Inc... D/b/a/ Triad Realtor ("Brokerage") to help them with their search and spoke with Grove Crank, a Triad representa ...
12/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Appeal of Grievance Committee Decision (Arbitration) Realtors® A and B were partners in a building company. They both held membership in the XYZ Board of Realtors® and were Participants in the Board's Multiple Listing Service. After many successful years, they decided to terminate their ...
10/14/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Appeal of Grievance Committee Decision (Arbitration) Realtors® A and B were partners in a building company. They both held membership in the XYZ Board of Realtors® and were Participants in the Board's Multiple Listing Service. After many successful years, they decided to terminate their ...
10/14/2011
Category: REALTOR-Bytes
Published in: REALTOR® Bytes
Professional Standards Spotlight - Comingling of Funds read story
Realtor® A, a listing broker, obtained a signed offer to purchase, together with Buyer C's check for $5,000 as an earnest money deposit. Buyer C's offer was subject to the sale of his current residence. Realtor® A presented the offer to Seller B who accepted it. Realtor® A then ina ...
10/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Realtor® A, a listing broker, obtained a signed offer to purchase, together with Buyer C's check for $5,000 as an earnest money deposit. Buyer C's offer was subject to the sale of his current residence. Realtor® A presented the offer to Seller B who accepted it. Realtor® A then ina ...
10/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Broker A has had a long-standing relationship with Client B, the real estate manager of a large, diversified company. Broker A has acquired or disposed of twelve (12) properties for Client B over a five (5) year period. Client B asks Broker A to locate a large warehouse property to consolidate i ...
9/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Broker A has had a long-standing relationship with Client B, the real estate manager of a large, diversified company. Broker A has acquired or disposed of twelve (12) properties for Client B over a five (5) year period. Client B asks Broker A to locate a large warehouse property to consolidate i ...
9/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Rationale for No Findings of Fact in Awards read story
Appendix IV to Part Ten Rationale for No Findings of Fact in Awards ®'s continued good standing in the association or in the real estate community generally, whereas an adverse decision in a matter involving ethics demonstrates that the respondent has, in some way, failed to live up to t ...
8/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Appendix IV to Part Ten Rationale for No Findings of Fact in Awards ®'s continued good standing in the association or in the real estate community generally, whereas an adverse decision in a matter involving ethics demonstrates that the respondent has, in some way, failed to live up to t ...
8/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight: Arbitration read story
Case 17-13: Arbitration Involving a Realtor® Selling her Own Property (Adopted November, 1995.) Realtor® B was a real estate broker and property manager who, in addition to managing property for others, frequently bought and sold income property for her own account. Needing capital for ...
7/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Case 17-13: Arbitration Involving a Realtor® Selling her Own Property (Adopted November, 1995.) Realtor® B was a real estate broker and property manager who, in addition to managing property for others, frequently bought and sold income property for her own account. Needing capital for ...
7/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
How to Disclose Ownership Interest read story
By Bruce Aydt March 2011 Source: NAR If you're part owner on a listing, do you need to disclose your ownership interest on the MLS and through your marketing? Question: I am a part owner of a property that I am listing. Must I include a statement that discloses my ownership interest in the pro ...
6/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
By Bruce Aydt March 2011 Source: NAR If you're part owner on a listing, do you need to disclose your ownership interest on the MLS and through your marketing? Question: I am a part owner of a property that I am listing. Must I include a statement that discloses my ownership interest in the pro ...
6/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Case #12-5: True Picture in Use of Sold Sign read story
Case #12-5: True Picture in Use of "Sold" Sign (Revised Case #19-7 May, 1988. Transferred to Article 12 November, 1994.) Realtor® A, the listing broker, was charged by Realtor® B with giving a false picture in his advertising by putting up a "sold" sign on proper ...
4/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Case #12-5: True Picture in Use of "Sold" Sign (Revised Case #19-7 May, 1988. Transferred to Article 12 November, 1994.) Realtor® A, the listing broker, was charged by Realtor® B with giving a false picture in his advertising by putting up a "sold" sign on proper ...
4/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Professional Standards is launching a new program in 2011, Ethics Mediation Program. It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communications and initial problem-solving at the local levels. Som ...
4/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards is launching a new program in 2011, Ethics Mediation Program. It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communications and initial problem-solving at the local levels. Som ...
4/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Professional Standards is launching a new program in 2011, Ethics Mediation Program.It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communications and initial problem-solving at the local levels. Some of ...
3/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards is launching a new program in 2011, Ethics Mediation Program.It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communications and initial problem-solving at the local levels. Some of ...
3/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
NAR's Board of Directors made several changes in the professional standards arena at the annual meeting last November: Approved a new Statement of Professional Standards to clarify NAR's longstanding policy that the Case Interpretations of the Code of Ethics are official expressions o ...
2/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
NAR's Board of Directors made several changes in the professional standards arena at the annual meeting last November: Approved a new Statement of Professional Standards to clarify NAR's longstanding policy that the Case Interpretations of the Code of Ethics are official expressions o ...
2/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
ETHICS MEDATION PROGRAM read story
Professional Standards Spotlight ETHICS MEDATION PROGRAM Professional Standards is launching a new program in 2011, Ethics Mediation Program. It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communica ...
1/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight ETHICS MEDATION PROGRAM Professional Standards is launching a new program in 2011, Ethics Mediation Program. It is the belief of the National Association's Professional Standards Committee that many ethics complaints may be averted with enhanced communica ...
1/1/2011
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Duty to Arbitrate Upheld read story
A New Jersey appellate has considered whether a lawsuit involving a commission dispute between members of a REALTOR® association should be sent to arbitration when the lawsuit also sought punitive damages. Island Realty ("Brokerage") is a real estate brokerage, and Lewis Caton ("Salesperso ...
11/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
A New Jersey appellate has considered whether a lawsuit involving a commission dispute between members of a REALTOR® association should be sent to arbitration when the lawsuit also sought punitive damages. Island Realty ("Brokerage") is a real estate brokerage, and Lewis Caton ("Salesperso ...
11/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
A Broker Can Be Held Liable for Salesperson's Violation of Fair Housing Act read story
Mary Ellen and David Holley ("Buyers"), a mixed race couple, were looking to purchase property in Twenty-Nine Palms, California. The Buyers visited Triad, Inc... D/b/a/ Triad REALTOR® ("Brokerage") to help them with their search and spoke with Grove Crank, a Triad representative. The Broke ...
9/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Mary Ellen and David Holley ("Buyers"), a mixed race couple, were looking to purchase property in Twenty-Nine Palms, California. The Buyers visited Triad, Inc... D/b/a/ Triad REALTOR® ("Brokerage") to help them with their search and spoke with Grove Crank, a Triad representative. The Broke ...
9/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
DUTY TO ARBITRATE (Case Summary) read story
REALTOR® Arbitration Process Upheld An Arkansas appellate court has considered a challenge to a REALTOR® arbitration award. A hearing panel ("Panel") appointed by the Arkansas Association of REALTORS® ("Association") arbitrated a commission dispute between Kent Keah ...
8/1/2010
Category: What's Happening?
Published in: Southern Nevada Realtor Magazine
REALTOR® Arbitration Process Upheld An Arkansas appellate court has considered a challenge to a REALTOR® arbitration award. A hearing panel ("Panel") appointed by the Arkansas Association of REALTORS® ("Association") arbitrated a commission dispute between Kent Keah ...
8/1/2010
Category: What's Happening?
Published in: Southern Nevada Realtor Magazine
Commonly Asked Questions in Professional Standards read story
#1 Can an attorney for one of the parties or the Board testify as a witness? Not generally. In the unlikely event that the panel believes there is no other way to provide due process; the attorney for a party could possibly be asked to testify. #2 Can a party bring a translator to assist them in ...
8/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
#1 Can an attorney for one of the parties or the Board testify as a witness? Not generally. In the unlikely event that the panel believes there is no other way to provide due process; the attorney for a party could possibly be asked to testify. #2 Can a party bring a translator to assist them in ...
8/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Professional Standards Spotlight read story
Article 5: Disclose Present or Contemplated Interest in Any Property to All Parties Seller A and Buyer B were negotiating the sale of an apartment building, but couldn't agree on the price. Finally, they agreed that each would engage an appraiser and they would accept the average of the two a ...
7/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Article 5: Disclose Present or Contemplated Interest in Any Property to All Parties Seller A and Buyer B were negotiating the sale of an apartment building, but couldn't agree on the price. Finally, they agreed that each would engage an appraiser and they would accept the average of the two a ...
7/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
When Buying or Selling, Make Your Position in the Transaction or Interest Known read story
Article 4 Case #4-3: Disclosure of Family Interest (Revised Case #13-4 May, 1988. Transferred to Article 4 November, 1994.) Realtor® A listed Client B's home and subsequently advised him to accept an offer from Buyer C at less than the listed price. Client B later filed a complaint against ...
6/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Article 4 Case #4-3: Disclosure of Family Interest (Revised Case #13-4 May, 1988. Transferred to Article 4 November, 1994.) Realtor® A listed Client B's home and subsequently advised him to accept an offer from Buyer C at less than the listed price. Client B later filed a complaint against ...
6/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Be Careful When Advertising read story
Case #12-16, Copying and Publishing other Brokers' Advertisements (Adopted April, 1998.) Wanting to take advantage of the virtual explosion of the World Wide Web, Realtor® A, who had a respectable level of expertise in computer technology, decided to purchase a Web site design softw ...
5/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
Case #12-16, Copying and Publishing other Brokers' Advertisements (Adopted April, 1998.) Wanting to take advantage of the virtual explosion of the World Wide Web, Realtor® A, who had a respectable level of expertise in computer technology, decided to purchase a Web site design softw ...
5/1/2010
Category: Professional Standards
Published in: Southern Nevada Realtor Magazine
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