By Christal Park Keegan, NVR Legal Information Line Attorney
The article in the adjacent link addresses a popular issue often discussed on the Legal Information Line. NVR Legal Information Line Attorney Christal Keegan answers prevalent legal questions during this current busy real estate era like -- "Is the COVID-19 Acknowledgement of Risk form still mandated?"
Do you know how Nevada law reads on the subject? Read this short legal-themed FAQ article and learn all you need to know. If you have any questions, please email the Legal Information Line at InfoLine@NVRealtors.org. You can view the legal article on the subject by clicking here.
In an unprecedented move, the Department of Justice withdrew its consent to the settlement agreement reached in 2020. Lesley Muchow, Deputy General Counsel and Vice President, Legal Affairs and Antitrust Compliance provides an update in the attached video.
The Department of Justice has withdrawn its consent to a settlement agreement reached in 2020, which had resolved issues raised by the DOJ about brokerage commissions and the MLS system. The DOJ also voluntarily dismissed its action in federal court.
The proposed changes to the Code of Ethics and MLS rules, which were the result of the settlement agreement, are on hold.
NAR is committed to act in best interest of buyers and sellers across the country, and will continue to update our policies and rules to protect consumers and promote transparency and efficiency in the real estate marketplace.
NAR will work with the DOJ to agree on exact rule changes within 45 days, then the Board of Directors will have to approve the new rules. The Court overseeing the settlement must formally approve the agreement, at which point we anticipate that the new rules will take effect. NAR will keep members apprised of official rule changes as more details become available.
The REALTORS® Relief Foundation was created in the immediate aftermath of September 11, 2001, with the belief that no American should be left homeless because of a terrorist attack or natural disaster. Realtors® raised $8.4 million within 100 days of the attacks, and in the years since have raised and disbursed tens of millions in additional funds to the victims of hurricanes, floods, wildfires and other disasters. As the nation marks two decades since 9/11, RRF is commemorating its 20th anniversary by launching Hope Rising, a campaign designed to ensure the Foundation can respond to disasters as quickly and effectively as possible.
"Today, almost 20 years after its founding, the REALTORS® Relief Foundation continues to respond to the nation's biggest disasters, ensuring Americans have a roof over their heads and a place they can call home even in the worst of times," said NAR President Charlie Oppler, a Realtor® from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby's International. "RRF embodies a history of giving back and a future of paying it forward, and as it is called upon with increasing frequency to respond to natural disasters, the role it plays becomes even more critical."
Nevada REALTORS® is supporting the campaign, pledging to donate $70,000 in 2021. NVR is being recognized as a Samaritans Club Investor ($50,000-$99,999).Click here to read more about the RRF and the Hope Rising campaign.
Remote work and mobility are expected to have the most significant impact on real estate over the next year, according to The Counselors of Real Estate's list. The group identified current and emerging issues expected to have an influence over real estate in the 2021-2022 cycle. Remote work and mobility and its influence over commercial buildings globally was named as the top issue, followed by technology and ESG (Environment, Social, and Governance).
Click here for a closer look at the Top 10 issues on CRE's list for 2021-2022:
