Following NAR input, buyer agent commissions not counted among IPC limits The National Association of REALTORS® influenced a significant clarification from Fannie Mae and Freddie Mac, with the entities confirming that buyer’s agent commissions will not count as part of the interested party contributions limits. This guidance follows a nationwide settlement facilitated by NAR concerning commission lawsuits, ensuring that despite changes to how agent compensation is listed on MLS, sellers can still cover buyer agent fees as per local conventions. Full Story: HousingWire (4/15) The National Assoc ..read more

https://www.nar.realtor/magazine/real-estate-news/scotus-rules-in-favor-of-owners-in-property-fee-dispute?utm_term=A535F674-1FE5-4DE7-86BF-2B71C40DD9BA&lrh=f3d3398596de554c8ce28d0171fc77ec79f4cbe447d90ba1a9b8eade908d8477&utm_campaign=3BFA9068-DFBC-477B-BC94-C168B9A999F1&nwsltr=navnar&utm_content=0F63F11B-AB1C-484C-92B0-36224952BB5D The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective me ..read more

SETTLEMENT ANSWERS What is the mechanism for non-association MLSs to obtain releases of liability in seller litigation? For MLSs that are not wholly owned by a REALTOR® association, the agreement includes a mechanism to obtain a release efficiently if they so choose. Broadly speaking, the agreement provides two paths: The MLS can elect to pay an amount based on a pre-determined formula based on number of MLS subscribers. The MLS can elect to participate in non-binding mediation within 110 days following preliminary approval of the settlement. Under both options, p ..read more

https://www.inman.com/2024/04/12/judges-decline-to-centralize-commission-lawsuits/?utm_source=newsflash&utm_medium=email&utm_campaign=newsflash&utm_content=1024355_readmore_0_19700101&message_id=35017945.78741 The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscr ..read more

Instant Reaction: CPI, April 10, 2024 March inflation figures were very bad, which also means bad news for interest rates. By:  Lawrence Yun Powered by WPeMatico The post Instant Reaction: CPI, April 10, 2024 appeared first on South Carolina REALTORS ..read more

Instant Reaction: Jobs, April 5, 2024 The job market is strong, with 303,000 net payroll job additions in March; 39,000 net new jobs in construction means more housing supply is coming. By:  Lawrence Yun Powered by WPeMatico The post Instant Reaction: Jobs, April 5, 2024 appeared first on South Carolina REALTORS ..read more

Instant Reaction: Mortgage Rates, April 4, 2024 Mortgage interest rates continue their now 17-week stay in the mid-6% range, with the current 30-year mortgage interest rate at 6.82%. By:  Jessica Lautz Mortgages & Home Financing Powered by WPeMatico The post Instant Reaction: Mortgage Rates, April 4, 2024 appeared first on South Carolina REALTORS ..read more

SETTLEMENT ANSWERS What were the key factors that influenced NAR’s decision to choose the legal path it did to settle seller litigation? NAR explored settling throughout the litigation and carefully considered the other legal options available. These included: Appealing: A win on appeal would only have addressed the verdict in the Sitzer-Burnett case (not any of the copycat cases) and may only have resulted in a new jury trial, leaving members and consumers with continued uncertainty. Chapter 11 reorganization: In theory, Chapter 11 would have enabled NAR to elimina ..read more

NAR on the unauthorized practice of law and risk management: https://www.nar.realtor/videos/window-to-the-law/avoiding-unauthorized-practice-law The South Carolina Supreme Court decides what is the practice of law and what is the unauthorized practice of law in South Carolina. In the past, the South Carolina Supreme Court has stated that the closing of real estate deals is the practice of law. NAR ethics and SC laws prohibit you from practicing law without a valid law license. NAR ethics requires you to recommend the parties to obtain legal counsel when they need legal counsel which includes a ..read more

More telemarketing lawsuits ensnare agents, brokerages The FCC is stepping up enforcement of the Telephone Consumer Protection Act and the National Do Not Call Registry. Some real estate pros are being accused of unlawfully using telemarketing calls and texts for promotional purposes. Here’s how to stay out of legal trouble. Full Story: REALTOR® Magazine (4/9) The National Association of REALTORS® is America’s largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. The term REALTOR® is a registered ..read more