The NAR Board of Directors a few weeks ago made a few small but important changes to MLS and other rules to improve cooperation among brokers and reinforce the importance of associations’ ethics procedures. Here’s a brief recap. You can also learn about them in the latest Voice for Real Estate video.
- Proceeding With Ethics Complaints When Criminal Litigation is Also Involved
Associations are allowed to continue to process ethics complaints when there is criminal litigation pending that involves the same facts and circumstances.
2. Enforcing Cooperation via MLS Through Written Certification of Offer Presentations
The Board amended MLS Policy Statement 7.73 regarding the rights of cooperating brokers in the presentation of offers.
The policy reinforces cooperation and brings MLS policy in line with the Code of Ethics. Under the rule, listing brokers will be required to provide written affirmation or notification to cooperating brokers on the disposition of their offer. The requirement gives associations the ability to impose disciplinary action against a listing broker who fails to present either written confirmation that the offer was presented or evidence that the seller waived the obligation to have the offer presented.
NAR Code of Ethics and Standards of Practice.Â
This post first appeared on Realtor.org. To see the original, click here.