REALTOR® News

Get the Facts - Member Updates

  • by Washington REALTORS®
  • Jun 5, 2024, 09:11 AM

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June 4, 2024Edition

Member Updates

Asian Pacific American Heritage Month Graphic with a blue and pink ombre background with pinkish red palm leaves in the foreground

June is National Homeownership Month!

National Homeownership Month is when we promote the benefits of homeownership and recommit to creating housing opportunities for ALL Americans. REALTORS® strive to ensure everyone has the opportunity to achieve homeownership, the centerpiece of the American Dream.

 

We've compiled the best WR and NAR resources for you to refer to all month long.Check it out andlearnwhat REALTORS® are doing to promote homeownership in Washington State and across the US!

 

2024 Key National Trends in Real Estate with Jeff Smart & Dr. Jessica Lautz

Important update! Tune in as WR President Jeff Smart introduces Dr. Jessica Lautz, Deputy Chief Economist & VP of Research at the National Association of REALTORS® to present on key trends in the real estate market. Dr. Lautz covers the economic real estate environment, including some interesting data on consumer demographics and trends. She also covered some great resources for Designated Brokers and a few tips on what REALTORS® can do to better serve their clients in this economy.

 

JUNE IS PRIDE MONTH!

Are YOU an Alliance Certified Ally™?

 

Celebrate Pride Monthby enhancing your understanding and support for your LGBTQ+ clients! Become an Alliance Certified Ally™ through the LGBTQ+ Real Estate Alliance's interactive session to learn how to better serve LGBTQ+ home buyers and sellers, and address the discrimination they face. Explore and sign up today!

 

What's Happening This June?

June is a busy month for REALTORS®! For your ease, we've compiled a brief recap of the National Association of REALTORS®and Washington REALTORS®campaigns, resources, and information you should be aware of this month all in one convenient place!

 

Looking for a FUN Volunteer Opportunity? ⚾️

We're excited to partner with Junior Achievement of Washington for the Seattle Mariners 50/50 Raffle Night on Thursday, June 13th!

 

We needvolunteers to help sell raffle tickets and support this great cause. Enjoy a free meal, watch the game, and make a difference! Friends and family are welcome. Sign up by emailing frontdesk@warealtor.org with your name, phone, email, and company. Let's make it a night to remember!

 

What Constitutes the ‘Unauthorized Practice of Law’?

A fantastic reminder! Real estate professionals must avoid engaging in the unauthorized practice of law, which includes offering legal advice or making substantial modifications to contracts, as it can result in fines, license revocation, or lawsuits. Read the full NAR article to learn more, and as always, WR Members can direct their legal questions to the Washington REALTORS®Legal Hotline here.

 

Did You Know?

The Current Code of Ethics Cycle Ends December 31st, 2024!

It's time to check Code of Ethics education off your to-do list! REALTORS® are required to complete Code of Ethics training of not less than 2 hours, 30 minutes of instructional time within each three-year cycle. The current cycle deadline is 12/31/2024.

Can’t remember if you’ve taken your Code of Ethics Training this cycle? Check your Code of Ethics status here, and explore our Code of Ethics page below for FAQs, resources, and links to point you in the direction of available classes!

Legal HotlineQ&A of the Week

Question

 

A Buyer contacts me asking if I can help them with buying a house. They say they have been working with another agent and signed a contract with that agent. They are not happy with that agent and want to switch to me. What should I say to this buyer? Also, how do I cancel a Buyer Agency Agreement if both I and the buyer want to cancel it?

Answer

 

If broker is the broker in contract with a buyer and broker and buyer have decided they no longer want to work together, but broker has already shown homes to buyer, then broker might want to consider revising broker's buyer agency agreement rather than terminating it outright.If broker currently has an exclusive agreement with buyer and wants to preserve the right to collect compensation if buyer purchases one of the homes shown by broker, then broker may be wise to amend the buyer agency agreement, if buyer is amenable. The amended buyer agency agreement would likely re-describe the "area" covered by the agreement as the addresses of the homes broker showed buyer. That amendment would leave broker with the exclusive right to receive compensation if buyer purchases a home shown by broker but give buyer the freedom to look for other properties with a different broker. If, however, the parties wanted to terminate the buyer agency agreement outright, Form 53 is the statewide form intended for that purpose.

 

If buyer indicates that buyer wants to terminate an agency agreement with a different agent, an agent who is not the broker with whom buyer is having the conversation, then all the broker having the conversation can say is that buyer should talk to the buyer's agent and seek the advice of buyer's lawyer if that conversation is not fruitful. Buyer is in a binding contract and is wanting to avoid the obligations of that contract. That is not assistance that a real estate broker is licensed or insured to provide. Broker should advise that buyer to seek the assistance of buyer's lawyer if conversations between buyer and the buyer's broker do not yield the results buyer seeks.

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

AE Training

June 6th-7th, 2024

Seattle, WA.

 

Fall Business Conference

September 18th-20th, 2024

Kennewick, WA.

 

WR 2024 Leadership Conference

October 23-25, 2024
Vancouver, WA

NAR Annual Convention

November 6-11, 2024
Boston, MA

 

MORTGAGE RATES

Source: Mortgage News Daily

 

 

EDUCATION OPPORTUNITIES

 

At the Intersection of NAR's Settlement, Escrow Closings and Residential Lending
Thursday, June 6th, 2024(9:00am-12:30pm) 3.5 CE Hours

Courtyard Pullman, Pullman, WA.

Learn More & Register

 

Busting of Industry Myths
Thursday, June 6th2024(1:00pm-4:30pm) 3.5 CE Hours

Courtyard Pullman, Pullman, WA.

Learn More & Register

 

Navigating the Hispanic/Latino/a Market and Culture for Success

Wednesday, June 12th, 2024(12:00pm-3:00pm) 3CE Hours

Walla Walla Valley Association of REALTORS®, Walla Walla, WA.
Learn More & Register

 

NAR Code of Ethics - 3.0
Thursday, June13th, 2024(9:00am-12:00pm) 3CE Hours

Live Webinar

Learn More & Register

 

Seller Representative Specialist (SRS)
June 19th-21st, 2024(2.5 day class) 16.0 CE Hours

Keller Williams Clark County, Vancouver, WA.

Learn More & Register

 

NAR Code of Ethics - 3.0
Wednesday, June 26th, 2024(9:00am-12:00pm) 3CE Hours

Live Webinar

Learn More & Register

 

Best of the Legal Hotline
Wednesday, June 26th, 2024 (9:30am-1:00pm)3.5 CE Hours

Live Webinar

Learn More & Register

 

View All Upcoming Classes...

 

THANK YOU FOR BEING A
WASHINGTON REALTORS® MEMBER!

 

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