Here’s a look at 3 changes:
1. No discrimination on the basis of sexual orientation. In response to the recommendations of several state associations, Article 10 and Standard of Practice 10-3 were amended to add sexual orientation as a protected category.
2. A greater duty to share information. New Standard of Practice 3-9 explains that the duty to cooperate includes a duty to share information about listed property and to make property available to other brokers for showing to prospective purchasers. Standard of Practice 3-7 was clarified, substituting “relationship with the client” for “representational status”, which acknowledges that a REALTOR performing an appraisal may be seeking information about property yet not actually “representing” a buyer or seller.
3. Linking to key disclosures on the Web. With the changes to the Internet and mobile technology, only a very limited amout of information can be displayed via electronic communication; consider posts on Twitter. Standard of Practice 12-5 requires REALTORS to disclose the name of their firm in all advertising; however, this Standard of Practice 12-5 was amended, to take these limitations into account, and now provides that these displays are exempt from the requirement to disclose the firm’s name, but only if they are linked to all required disclosures. You might want to analyze your internet and printed marketing to make sure you are in compliance.
Remember, if the REALTOR Code of Ethics and North Carolina law conflict, the “LAW” always take precedence. View and download the REALTOR Code of Ethics at http://www.realtor.org/mempolweb.nsf/pages/code.
Bill Gallagher
Owner/Instructor
Superior School of Real Estate
www.superiorschoolnc.com/askbill
