CHANGES AT THE DIVISION OF PROFESSIONAL REGULATION
A new team-oriented administrative unit structure went into effect on November 1. Three service teams, an information center team and the existing operations support team will make up the restructured administrative unit. Each service team will consist of an executive director, a team leader and three staff members assigned to credentialing, licensee and board liaison services. In addition to the three service teams, a new information center team will increase responsiveness by responding to incoming phone and email inquiries.
EFFECTIVE NOVEMBER 1, the contact information is as follows:
All previously published phone numbers and email addresses are redirected to the information center as of November 1st. Please update your records with the new contact information. The mailing address will remain the same but it is important that mail be addressed to a board/commission, NOT to a specific member.
In just one day, EARN 7 CE hours and LEARN plenty to step up your personal and professional life:
- time-management techniques,
- goal-setting strategies,
- tips to team building/personal assistants,
- how to handle stress,
- finding your motivation, and
- dollar-productive activities.
The course will be led by Chuck Bode, CRS, an internationally recognized instructor.
Register Here >>
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FRACTIONAL OWNERSHIP IS HERE!
WHAT IS FRACTIONAL OWNERSHIP? WELL...
Fractional Ownership is a very popular product in resort areas because it allows an owner to be economically intelligent and to purchase high end real estate to use for the amount of time the owner has available. Fractional ownership can be from 6 weeks to as many as 10 weeks per year. The property is in your name (YOU own the real estate), you can rent it if you are not able to use the time, you can sell it and you can trade it for other properties around the world! Properties are managed by a management company and typically there is a concierge service that takes care of equipping the house, makes reservations, and ensures your stay is pleasant and worry free.
To place your listing in this category, your property MUST be Fee Simple AND available 6 or more weeks of the year. This category is NOT for Timeshares!
Complying With Fair Housing Laws
I thought it would be good to pass along some tips to help you stay in compliance with the Fair Housing laws. As you are aware, a Fair Housing complaint can be filed against you if you do not comply.
Hope these tips help >>
California fires have destroyed more than 1,500 homes and displaced more than 500,000 people. The National Association of REALTORS® is calling on its 1.3 million members to contribute to the REALTORS® Relief Foundation, which distributes donations to help these and other victims of natural disasters. NAR has taken the lead by donating a half million dollars to aid the California victims. Donate online at www.realtor.org or by mailing a contribution to:
REALTORS® Relief Foundation
Attn: NAR Finance Division
430 N. Michigan Ave.
Chicago, IL 60611.
Contributions are tax deductible.
SHOP FOR THE KIDS – November 27
| The RCS Committee will shop for the needy children on November 27 at the K-Mart in Rehoboth starting at 7 a.m..
Don‘t forget to mark your calendar – we need lots of shoppers for this huge project. |
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The new Statewide Sales Agreement for Delaware is now available in a format that you can edit and save -- in either Adobe Acrobat or Adobe Reader.
Statewide Sales Agreement for Delaware >>
ETHICALLY SPEAKING...
Article 17
In the event of contractual disputes or specific non-contractual disputes as defined in Standard of Practice 17-4 between REALTORS® (principals) Associated with different firms, arising out of their relationship as REALTORS®, the REALTORS® shall submit the dispute to arbitration in accordance with the regulations of their Board or Boards rather than litigate the matter.
In the event clients of REALTORS® wish to arbitrate contractual disputes arising out of real estate transactions, REALTORS® shall arbitrate those disputes in accordance with the regulations of their Board, provided the clients agree to be bound by the decision.
The obligation to participate in arbitration contemplated by this Article includes the obligation of REALTORS® (principals) to cause their firms to arbitrate and be bound by any award. (Amended 1/01)
Standard of Practice 17-4
Specific non-contractual disputes that are subject to arbitration pursuant to Article 17 are:
(Continued from October 26 newsletter.)
- Where a buyer or tenant representative is compensated by the seller or landlord, and not by the listing broker, and the listing broker, as a result, reduces the commission owed by the seller or landlord and, subsequent to such actions, another cooperating broker claims to be the procuring cause of sale or lease. In such cases the complainant may name the first cooperating broker as respondent and arbitration may proceed without the listing broker being named as a respondent. When arbitration occurs between two (or more) cooperating brokers and where the listing broker is not a party, the amount in dispute and the amount of any potential resulting award is limited to the amount paid to the respondent by the listing broker and any amount credited or paid to a party to the transaction at the direction of the respondent. Alternatively, if the complaint is brought against the listing broker, the listing broker may name the first cooperating broker as a third-party respondent. In either instance the decision of the hearing panel as to procuring cause shall be conclusive with respect to all current or subsequent claims of the parties for compensation arising out of the underlying cooperative transaction. (Adopted 1/97, Amended 1/07)
ON THE SAFE SIDE
To be on the SAFE SIDE, please review the MLS Rules and Regulations to eliminate errors in the system that could lead to MLS violations and fines. To print out a copy of the rules, simply click on "standard forms" in InnoVia. Click on "2005 MLS fine system-rev07-04.pdf" for a complete list of MLS violations and fines associated with them. For the latest version of the MLS Rules and Regulations, click on "2007 MLS Rules.pdf." These rules and regulations have been submitted and reviewed by NAR and are in full compliance with National Association policy.
(Continued from October 5 newsletter)
MINOR VIOLATIONS - $25
When one of the violations listed below is alleged, the SCAOR staff will send a Listing Complaint & Fine Notification by fax to the attention of the Participant (and verified by phone to the Participant). The Participant must have the error corrected within 48 hours of verification.
Depending on the information to be corrected, the SCAOR staff may make the required changes.
Violations include:
- Entries in the cooperative commission field other than a specific dollar amount, percentage, or combination thereof.
- Entering status changes relating to amendments to the Participants listing agreement with a seller without the seller's written consent.
- Failure to provide the Service with any documentation requested by the Service within 3 business days of request.
- Failure to report a correct listing expiration date.
- Failure to list properties which are sold or which may be sold separately individually in the listing agreement and on the Property Data Form.
- Failure to properly notify the Service when part of a listed property is sold.
- Any listing turned in to the MLS with any reference to the listing broker or agent or phone numbers included in the customer "remarks" section of the profile sheet will be automatically deleted by the SCAOR office upon notification and verification.
- Any listing turned in to the MLS with any reference to a listing broker, agent or firm on photos or virtual tours.
- Entering a listing in more than one property type, for example: Single Family/Condo.
F R E E
HOMEOWNERSHIP & MORTGAGE
FORECLOSURE PREVENTION CLINIC |
| The State of Delaware and the Delaware Foundation of Housing Counselors invite you to attend this FREE clinic.
Topics include:
Ten Ways to Avoid Foreclosure; Introduction to State and Federal Foreclosure Prevention Programs; and Understanding Adjustable Rate Mortgages.
Attendees are encouraged to bring their mortgage documents for review.
Housing Counselors and other professionals will be available to answer questions and provide assistance.
For more information, please call:
Barbara Clark
Delaware Bank Commissioner's Office
(302) 739-4235 |
The next clinic
is scheduled for:
November 13, 2007
6:30 p.m.
Harrington Library
Harrington, DE |
Learn more about our southern neighbors just over the county line in Maryland. Click on www.coastalassociationofrealtors.org, and see how much we have in common! They have 1,400 members, a Board of Directors, and span the area from Ocean City to Salisbury. Joining forces could give SCAOR economy of scale for purchases, create more education opportunities for REALTORS®, and much more!
Additional November 2 - December 5 Delaware News & Meetings
