By Christal Park Keegan - NVR Legal Information Line Counsel
REALTORS® must understand the dangers of unintentionally creating 'agency' because once that relationship is established, all the duties, all the liabilities and all the responsibilities of agency attach! Click here to read this legal article by NVR Legal Information Line Counsel, Christal Park Keegan, to identify real-life examples of when real estate licensees are approaching the danger zones to avoid unintentionally creating agency relationships. Additionally, you can view a similar Nevada REALTORS® video on the Agency here.
Got questions? The Legal Information Line is standing by ready to answer. Email at InfoLine@NVRealtors.org, Phone at 800-748-6999, or Schedule a Call with real-time access to attorneys' schedules here: Calendly - NVR Legal Information Line.
The REALTORS® Legislative Meetings are underway in the Washington, DC area this week (May 1-6). These annual meetings are where NAR members take an active role to advance the real estate industry, public policy and the association. REALTORS® come to Washington, DC for Capitol Hill visits, special issues forums, committee meetings, legislative activities and the industry trade show.
Nearly 100 NVR members will make the trek back east for the event. Many members are involved in the governance of NAR and volunteer on national association committees. The meetings also attract Federal Political Coordinators (FPCs) and other politically active members who visit Congressional representatives on Capitol Hill. Additionally, local members in the DC area are invited to attend the REALTORS® Trade Expo, which features 100 exhibitors. Learn more by clicking here.
REALTOR® members can apply to a 2023 Committee and help shape the direction of the National Association of REALTORS®. Now through May 13, members may submit their applications in order to be considered for a committee leadership or member position.
NVR members are encouraged to submit multiple applications (up to five) in order to be considered for all committees they have an interest in serving on. However, members will only receive one appointment, per current policy. Applications are compiled for review by NAR Officers during the NAR committee selection process.
To the extent possible, the composition of committees shall be representative of the general membership. While broad-based representation is desirable, this should not be construed as limiting the president from appointing the most knowledgeable and competent individuals available to serve on committees. Click here to apply for an NAR committee.
With multiple offers expected to dissipate, more normal market conditions could be on horizon
The housing market is showing some early signs of normalizing. Contract signings dropped in March, the fifth consecutive month that pending home sales have fallen, the National Association of REALTORS® reported Wednesday. The Northeast was the only major region of the U.S. that saw a monthly increase in contract signings. All other regions dropped.
NAR's Pending Home Sales Index, a forward-looking indicator of home sales based on contract signings, dropped 1.2% in March to a reading of 103.7. (An index of 100 is equal to the level of contract activity in 2001.) Overall, contract signings fell 8.2% year over year in March.
The drop comes at a time when inflation is running at a 40-year high and living costs are rising. (Read more: Inflation Edges Higher, Affecting Housing.) Yun expects inflation to average 8.2% in 2022. He predicts that it will start to moderate, however, to 5.5% in the second half of the year. Click here to view the full article.
The number of Realtors® involved with buying or selling a property with green features has significantly increased in the past year, according to a recent study from the National Association of Realtors®. The 2022 REALTORS® and Sustainability Report surveyed NAR members nationwide regarding sustainability issues currently facing the real estate industry. Half of agents and brokers surveyed said they helped a client buy or sell a property with green features during the past 12 months, a notable jump compared to 32% in 2021.
Nearly two out of three respondents - 63% - said that energy efficiency promotion in listings was very or somewhat valuable. Over half of agents and brokers - 51% - found that their clients were somewhat or very interested in sustainability. And 35% reported that their multiple listing service features green data fields. Among those with green data fields in their MLS, the top ways they were used were to promote green features (35%), energy information (24%) and green certifications (13%). Click here to read more.
