REALTORĀ® News

Get the Facts - Member Updates

  • by Washington REALTORS®
  • Apr 2, 2024, 16:34 PM

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April 02, 2024Edition

Member Updates

This Week is Your Last Chance to Register for SBC with Early-Bird Pricing!

Mark your calendars and get ready for an exciting Spring Business Conference experience at the Marriott Tacoma Downtown from Wednesday, April 17th to Friday, April 19th, 2024!From governance meetings to networking opportunities, leadership elections, and the REALTOR® Awards ceremony, we have a packed agenda awaiting you!

Pack a little fun into your conference experience and join us for Fun Night hosted by Tacoma-Pierce County Association of REALTORS®! Including South Sound waterfront views at Foss Waterway Seaport Museum, a surprise opening dance by a mystery performer, green screen photo booth adventures featuring Tacoma Rainiers dugout, and much MUCH more!

Register now for both the Spring Business Conference AND Fun Night for a complete event experience(ticketssold separately)! Early-bird pricing ends Saturday, April 6th.


April is Fair Housing Month!

Observed to commemorate the landmark 1968 Fair Housing Act, this month represents the advancement of equitable opportunities to expand homeownership for all people. To honor this month, WR has gathered helpful and informative resources, including NAR's® toolkit and a poster that you can print and display to promote the REALTOR® commitment to Fair Housing.


Help us Congratulate our 2023 Washington REALTOR® Award Nominees!

Please join us in congratulating our 2023 Washington REALTOR® Award Nominees! Our association is FULL of passionate, dedicated individuals who work hard every day on behalf of their consumers, colleagues, and communities. The work they have done and continue to do to support the association and their individual communities is inspiring; thank you, and congratulations to all!

Award winners will be announced on April 17th, 2024 during our Spring Business Conference. For more information about our nominees and finalists, visit the link below.


NEW COURSE - REGISTER TODAY!

At the Intersection of NAR’s Settlement, Escrow Closings and Residential Lending

Dive deep into the implications of industry changes including NAR's proposed settlement and Agency Law revisions with our brand-new clock-hour class, 'At the Intersection of NAR’s Settlement, Escrow Closings and Residential Lending', led by Annie Fitzsimmons.

The course will feature a panel of industry insiders including an escrow officer, loan officer, and real estate broker. The panel will discuss the challenges of incorporating enormous changes in brokerage practices into a lending and escrow environment that are firmly rooted in old practices. The conversation will include questions from the audience and will focus on the importance of adhering to best practices in the completion of forms, providing good communication, and remaining aware of escrow and lending practices so that you will lay a solid foundation with your purchase agreements, for a successful closing.

There are several upcoming class dates; select one &register below!


NAR L.E.A.D. VISION COURSE

Attention Current & Future Association Leaders!

Join us on April 16th for the NAR L.E.A.D. Vision Course, facilitated by retired WR CEO, Steve Francks! Learn how to create a strong leadership-focused vision, a well-informed strategy, and skills to help you effectively lead a REALTOR® organization. Happening at the Tacoma-Pierce County Association of REALTORS® office from 9:30AM to 4:00PM with lunch included... Invest in your growth as a leader: register today!


There is SO Much to Take Away from Draft Like a Lawyer!

 

Clear your calendars April 23rd-24th, 2024 at the Center Place Regional Event Center in Spokane for Draft Like a Lawyer!

 

Draft Like a Lawyer attendees can expect opportunities for continuous improvement, to stay ahead of the curve, the chance to network and collaborate with their peers, and the potential to earn 16 total CE hours! This class will elevate your expertise and refine your approach to drafting with each iteration. You can NEVER go wrong with Draft Like a Lawyer, register now before it's too late!


Did You Know?

The Legal Hotline is Our MOST Popular Member Benefit!

Browse through thousands of Q&A's or ask the Hotline Lawyer a question directly! Utilize your membership to its full potential: visit the hotline today to get answers to your most pressing questions!

HOW TO USE THE LEGAL HOTLINE:

  1. Visit warealtor.org
  2. Select Member Log in at the top of the page and log in with your member credentials.
  3. Select Legal Hotline from the homepage.
  4. Browse the Q&A Database OR
  5. Opt to Ask a Legal Hotline Question directly.
    1. Enter your question and submit.
    2. Allow 48 hours for an email response from the Hotline Lawyer.
    3. Please note, your Designated Broker is CC’d on all inquiries.

Legal Hotline Q&A of the Week

Question

One of my agents said they wanted to update their website to allow advertising for preferred vendors but wanted to charge a small fee. Can she do that and if so, how does she go about it? I thought any money paid to an agent had to be run through their company?

Answer

In this scenario, broker will not be compensated for the provision of RE brokerage services so the compensation broker receives is not required to be paid through broker's firm. Instead, broker will be compensated for advertising. That fact opens a variety of additional questions for consideration. Is broker allowed to operate a website and collect revenues from advertisers on that website? This question potentially implicates laws outside the arena of real estate, laws with which the Hotline lawyer has no familiarity and about which, the Hotline lawyer cannot provide any education. Broker and/or DB would have to consult their own legal counsel for assistance in determining whether broker has the right/authority to collect advertising revenue for advertisements placed on broker's website.

Additionally, broker and DB must consider the limitations imposed by RESPA. Broker is prohibited from receiving anything of value from lender in exchange for the provision of referrals. Do this broker and lender refer business to one another? If so, RESPA prohibits broker from giving lender free or below-market advertising. Does the "small fee" that broker will charge lender represent market value for the advertising lender will receive? If not, then lender's advertisement on broker's website may violate RESPA.

There are many questions that broker and DB must consider with respect to the advertising plan broker intends to implement, using broker's real estate website. Most of the questions are not triggered by Washington's RE License Law or Agency Law. Broker and DB should consult with the firm's legal counsel for assistance in determining if broker's plan can be implemented and if so, if there are any additional concerns that must be addressed.

The Legal Hotline Lawyer does not represent Washington REALTORS® or its members. The advice contained herein does not constitute legal counsel. To browse through our database of past Q & A’s, visit warealtor.org/legal-hotline. Attorney Annie Fitzsimmons writes the Legal Hotline Question and Answer of the Week. This is a WR members-only benefit so you will be prompted to log in with your M1 number and password. Your Designated Broker is cc’d on Legal Hotline inquiries.

MARK YOUR CALENDAR

WR Spring Business Conference

April 17th-19th, 2024

Marriott Downtown Tacoma

 

NAR Legislative Meetings

May 4th-9th, 2024

Washington, DC.


Graph showing Mortgage Rates


EDUCATION OPPORTUNITIES



At Home with Diversity - 6.0

Monday, April 8th, 2024(9:00am-3:00pm) 6CE Hours

Live Webinar

Learn More & Register


NAR Code of Ethics

Tuesday, April 9th, 2024(9:00am-12:00pm) 3CE Hours

First Presbyterian Church, Port Angeles, WA.

Learn More & Register


NAR Code of Ethics
Tuesday, April 9th, 2024(12:00pm-3:00pm) 3 CE Hours

Thurston County Association of REALTORS®, Olympia, WA.

Learn More & Register


Current Issues in WA Residential Real Estate

Tuesday, April 9th, 2024(1:00pm-4:00pm) 3CE Hours

First Presbyterian Church, Port Angeles, WA.

Learn More & Register


Washington Real Estate Fair Housing
Wednesday, April 10th, 2024(9:30am-12:30pm) 3CE Hours

Burlington Public Library, Burlington, WA.
Learn More & Register


Planning & Zoning Resource: Advocating for Your Community's Future

Thursday, April 11th, 2024(9:30am-5:00pm) 7.5CE Hours

Yakima Association of REALTORS®, Yakima, WA.
Learn More & Register


View All Upcoming Classes...

 

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WASHINGTON REALTORS® MEMBER!

 

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