1 / 0

Orientation

Orientation. Plymouth and South Shore Association of REALTORS® 2014 . Agenda. 8:30–8:45am Welcome & Introductions 8:45–9:15am What is a REALTOR®? 9:15–11:45am Code of Ethics 11:45–12:30pm Networking Lunch 12:30-1:45pm Agency 1:45-2:30pm Government Affairs & RPAC 2:30-2:45pm Break

blenda
Télécharger la présentation

Orientation

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Orientation

    Plymouth and South Shore Association of REALTORS®2014
  2. Agenda 8:30–8:45am Welcome & Introductions 8:45–9:15am What is a REALTOR®? 9:15–11:45am Code of Ethics 11:45–12:30pm Networking Lunch 12:30-1:45pm Agency 1:45-2:30pm Government Affairs & RPAC 2:30-2:45pm Break 2:45-3:45pm Anti-Trust & Fair Housing 3:45-4:30pm Wrap up & Quiz
  3. Orientation goals: To explain what it means to be a REALTOR® by introducing the three levels of membership, National, State and Local To review the REALTOR® Code of Ethics To highlight important aspects of Agency To create awareness of Government Affairs and the REALTOR® Political Action Committee (RPAC) To familiarize you with the key aspects of Anti-Trust and Fair Housing
  4. NAR - Over 1 million strong! National Association of REALTORS® (NAR) www.realtor.org Code of Ethics REALTOR® Magazine http://realtormag.realtor.org/ REALTOR® Designations and Certifications http://tinyurl.com/bmomgxe REALTOR® Federal Credit Union https://www.realtorsfcu.org/ Membership center/card
  5. MAR – Your State Association Massachusetts Association of REALTORS® (MAR) www.marealtor.com Bay State REALTOR® publication http://tinyurl.com/acdojtx Legal Hotline 800-370-5342 Technology Hotline (now call MAR Customer Service at 800-725-6272) On-line Continuing Education
  6. YOUR Local Association Plymouth and South Shore Association of REALTORS® (PASS) www.passrealtors.com Leadership http://tinyurl.com/bhujesk PASS Real Estate School #1131 offers local CE classes, national speakers, licensing courses and on-line education http://tinyurl.com/agtprxx Monthly newsletter – “PASSWord” http://tinyurl.com/bfkhh5m Networking events, Membership meetings and more! http://tinyurl.com/b9zk7y9 “Like” PASS on Facebook!
  7. Code of Ethics National Association of REALTORS® Code of Ethics http://tinyurl.com/b6yfk9d Required of all REALTORS® in each 4 year “Quadrennial” to maintain Active REALTOR® status. The current Quadrennial is 2013 - 2016 and this course fulfills your requirement.
  8. Code of Ethics History National Association of Real Estate Exchanges Formed on May 12, 1908 Code of Ethics was created in 1913 MAR was formed in 1927 and adopted the code at that time
  9. Why do we have a Code of Ethics? The “Wild West” Caveat emptor: “Buyer beware” To establish professional standards Binding on all Realtors® It was good for business The Code became the basis for state licensing laws MA started licensing in 1957
  10. Ethics defined: ethics (ĕthîks) The rules or standards governing the conduct of the members of a profession. The American Heritage Dictionary
  11. Code of Ethics Structure The Three Major Sections 1.Duties to Customers and Clients 2. Duties to the Public 3. Duties to Realtors®
  12. Act in the Best Interests of the Client, Honesty
  13. Avoid Misrepresentation
  14. Cooperation – not Compensation
  15. Disclose Interest in Property – “I’m a Realtor”
  16. Disclose contemplated Interest in Property
  17. Disclose Profit from Other Services
  18. Consent for Fees from more than One Party
  19. Escrow Funds Separate – No Comingling
  20. Get Agreements in Writing – Whenever possible
  21. Shall not Discriminate Protected ClassesFair Housing
  22. Must be Competent to Perform Services
  23. Truth in Advertising
  24. Shall not Practice Law
  25. Cooperate with Professional Standards Process
  26. Don’t speak poorly of Competition
  27. Don’t interfere with another Realtors Agency Relationship
  28. Obligation to Participate in Arbitration
  29. Enforcement – Two Types Ethics Deals with alleged violations of the Code Arbitration Deals with business disputes The same basic process is used for both types of enforcement.
  30. Enforcement Ethics A. Filing a complaint B. Grievance Committee C. Professional Standards Hearing Panel D. Discipline Discipline A. A fine up to $5,000 B. Suspension or Termination of membership C. Require additional education course(s)
  31. Enforcement (cont.) Arbitration A. Filing a complaint B. Grievance Committee C. Mediation (allows for compromise) D. Professional Standards Hearing Panel E. Payment of award (all or nothing) Appeal A. To the Board of Directors B. Due process C. Decision is final
  32. Code of Ethics Case Studies
  33. Networking Lunch Please enjoy lunch with our featured 2014 PASS Sponsors!
  34. Agency Relationships Types of Agency Representation Sub Agency Buyer Agency Facilitation (Non-Agency) Designated Agency Dual Agency http://tinyurl.com/af7llv2
  35. The Definition Agency: Mutual consent between the principal and his/her agent where the agent will act on the principal’s behalf and be subject to his/her control.
  36. The Foundation of an Agency Relationship Are you a “Client” or are you a “Customer”?
  37. What is a Client? Someone who engages the services of and is represented by an agent in a transaction. The agent for the client will negotiate the best price and terms for that client.
  38. What is a Subagent? An agent of another agent where both agents represent the CLIENT. (The client could be either a BUYER or a SELLER) The subagent works with a CUSTOMER but for the CLIENT
  39. What is a Buyer Client? A BUYER becomes a client when requesting that the broker become his/her BUYER’s agent. The agent will then negotiate the best price and terms for the client.
  40. What is a Dual Agent? A real estate broker who represents both the BUYER and the SELLER in the same transaction. Dual agents must have the informed consent of both the BUYER CLIENT and the SELLER CLIENT in order to act as a dual agent.
  41. What is Designated Agency? When one Salesperson|Broker in a brokerage represents the Seller, and another Salesperson|Broker within the same brokerage represents the Buyer without either salesperson being considered a dual-agent.
  42. What is a (non-agent) Facilitator? A Facilitator is a licensee who works to assist the Buyer and Seller to find one another and reach an agreement.
  43. Subagency in MA (as of 2005) When one real estate agent (brokerage) “hires” another real estate agent (in a separate firm) to help perform his/her duties. Buyer agents, however, also use subagents to assist them in finding property for their buyer clients.
  44. The Seller Agent Liability and Responsibility Treat the buyer as a customer Carry out all lawful instructions of the seller Reasonable care/due diligence Vicarious liability Confidentiality Seller Disclosure Form
  45. The Seller Agent (duties) To obtain written consent from the seller prior to offering Subagency or acting as dual agent To seek an offer to purchase at a price and with terms acceptable to the seller  To present all offers forthwith (i.e. in a timely manner)
  46. The Buyer Agent Liability and Responsibility Represent the buyer on a client basis Carry out all lawful instructions from the buyer Disclose all information relevant to the client Confidentiality of client information/discussion Compensation Client pays fee Offer compensation by listing broker through MLS Compensation directly from transaction proceedings Hourly – flat fee - % fee of purchase price
  47. The Buyer Agent (cont.) Establishment of Agency Express written or oral contract where agent and client agree to terms Implied agency by actions or words Obligation To work in the best interest of that buyer obtaining them the best terms, conditions and price Locate a property, present each offer/counteroffer, obtain consent
  48. Termination of an Agency Relationship Expiration of agreement Mutual agreement to terminate Completion of performance Death or insanity Impossibility of performance Incapacity (i.e. mentally incapable) bankruptcy
  49. Agency review Situation One: You’re working an open house and you represent to a perspective Buyer that your relationship with the Seller is that of a Seller’s agent. The Buyer requests representation. Your office practices “Designated Agency.” What is your response to the Buyer’s request?
  50. Agency review Situation Two: You have completed an evaluation on a home and realize the next day that you lost the listing to your competition. During the evaluation, the Seller revealed personal information to you. You realize a Buyer client you’re working with would express interest in the home knowing what you know about the Seller. Can you still represent the Buyer in this transaction?
  51. Agency review Situation Three: Your office practices Dual Agency. What are your responsibilities to both the Buyer and the Seller?
  52. Agency review Situation Four: You’re the listing agent of a home and the Seller asks, “What vicarious liability do we have with a Buyer’s agent?” How should you respond?
  53. Agency review Situation Five: You represent a Buyer who is interested in seeing a home. Another Buyer whom you also represent also wants to see the same home. Is it a violation of your agency duties to show the property to both parties?
  54. Agency review Situation Six: Can words and actions on the part of an agent result in an implied Agency relationship?
  55. Agency resources For Definitions and Resources visit: http://tinyurl.com/af7llv2 Buyer and Seller Handouts are included on this site. www.MARealtor.com http://www.realestatewiki.com/
  56. Government Affairs & RPAC If Real Estate is your profession, then politics is your business!
  57. Restrictions to Private Property Rights Zoning Regulatory Agencies Taxes Condemnation / Eminent Domain
  58. National Association of Realtors® at work for Real Estate Mortgage Interest Deduction National Flood Insurance Program Fannie Mae Short Sale Commissions
  59. The Massachusetts Association of Realtors® at work for Real Estate Sales Tax on Services Town of Shirley Sign Fee Proposal Vacation Home Rental Tax – Ocean Edge, Brewster
  60. Current statewide issues H-123 Real Estate Licensing Continuing Education to 20 hours bi-annually H-3723; S-2076 Second Hand Metal Dealer Registry Require scrap dealers to keep a log of information from all transactions ( i.e., purchasing metal from walk-in customers Forward the information on the item and the seller to the Criminal History Systems Board within 48 hours Retain all metal items received for 10 days
  61. Current issues continued S1698 Energy Audits - Requires all home owners to furnish prospective buyers with a completed energy evaluation Massachusetts has the nation’s third oldest housing stock; MassSave already provides homeowners advice and resources to make their homes more energy efficient upon request. MAR is opposed to any mandate that would label or “score’ homes in terms of energy efficiency MAR is opposed to any governmental agency or contractor taking thermal images of people’s homes without the prior consent or permission of the homeowner Transfer Taxes On-going year after year
  62. What can I do? Join the Realtor® Political Action Committee (RPAC)
  63. 2014 PASS Impact Events Realtor® Day on Beacon Hill – June 11 Realtor ® Party Convention and Trade Expo - May 12 - 17 PASS Legislative Breakfast – Nov 17 RPAF Margaritaville Event – Aug 26
  64. Government Affairs & RPAC REALTOR® Call for Action Centers National level http://www.naractioncenter.com/ State level http://tinyurl.com/amsaqkn Donate to REALTOR® Political Action Committee (RPAC) today! http://tinyurl.com/aych8ed End of section
  65. Anti-Trust Anti-Trust Laws promote competition in the marketplace Anti-Trust Pocket Guide from NAR http://tinyurl.com/aze8uut
  66. Fair Housing Fair Housing Laws prevent discrimination of protected classes Fair Housing Handbook from NAR http://tinyurl.com/agjtka3 Fair Housing HUD Poster http://tinyurl.com/6lvdqr6 Fair Housing Poster (MA Law) http://www.mass.gov/mcad/fairhouse.pdf “Expanding Housing Opportunities” Course – April 9, 2014
  67. Orientation Quiz
  68. REALTOR® Pledge I pledge myself: To strive to be honorable and to abide by the Golden Rule To strive to serve well my community, and through it, my country To abide by the REALTOR® Code of Ethics and to strive to confirm my conduct to its inspirational ideals To act honestly in all real estate dealings To protect the individual right of real estate ownership and to widen the opportunity to enjoy it To seek to better represent my clients by building my knowledge and competence.
  69. Congratulations!
  70. PASS 2014 Premium and Platinum Sponsors
  71. PASS 2014 Silver Sponsors
  72. PASS 2014 Bronze Sponsors
More Related