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Risking Your Money 8 Hour  Mandatory Continuing Education 08-00-120-7539 By Peggy Santmyer
LEARNING OBJECTIVES ,[object Object],[object Object],[object Object]
Group Workshop ,[object Object],[object Object],[object Object]
Someone Else Wants the Commission ,[object Object],[object Object],[object Object],[object Object]
Black's Law Dictionary, Fifth Edition, defines procuring cause as follows:  ,[object Object],[object Object]
OUR NAR MANUAL  ,[object Object]
PROCURING CAUSE ,[object Object],[object Object]
There is no typical real estate transaction! ,[object Object],[object Object],[object Object],[object Object]
NAR Code of Ethics ,[object Object],[object Object],[object Object]
Specific Non-Contractual Disputes ,[object Object]
Specific Non-Contractual Disputes ,[object Object]
The request for arbitration ,[object Object],[object Object]
Grievance Committee ,[object Object],[object Object],[object Object]
Arbitration Cases Between Two Different Firms ,[object Object],[object Object],[object Object]
The Contractual Agreement Between the Brokers ,[object Object]
SAC/BAC  forms a  Contractual  Relationship ,[object Object],[object Object]
Four Contracts that may be present  in one Transaction  page 11 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Boards and Associations of REALTORS  ,[object Object],[object Object]
Split awards are the exception ,[object Object],[object Object],[object Object]
Article 16 of the  NAR Code of Ethics ,[object Object],[object Object]
The Code of Ethics Must Not Be Used as a Club or a Lever ,[object Object],[object Object],[object Object]
Factors for Consideration by Arbitration Hearing Panels ,[object Object],[object Object],[object Object],[object Object],[object Object]
Factor #2.   ,[object Object],[object Object],[object Object],[object Object],[object Object]
Factor #4.   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
More about Abandonment  and Estrangement ,[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object]
Continuity and  breaks in continuity - abandonment and estrangement ,[object Object],[object Object]
[object Object],[object Object],[object Object]
Procuring Cause Workshop ,[object Object],[object Object]
Avoiding Disputes ,[object Object],[object Object],[object Object]
Avoiding Disputes ,[object Object],[object Object]
Avoiding Disputes ,[object Object],[object Object],[object Object]
Avoiding Disputes ,[object Object],[object Object],[object Object]
Other information ,[object Object],[object Object]
Mediation as a Board Service ,[object Object]
Differences  between Arbitration and Mediation ,[object Object],[object Object],[object Object],[object Object]
[object Object],In your group discuss the true and false questions in the Pre-Assessment Evaluation on pages 22 and 23
MLS Providers: ,[object Object],[object Object],[object Object],Page 25
MLS Providers are Responsible for: ,[object Object],[object Object],[object Object],[object Object],[object Object]
Enforcement of MLS Rules ,[object Object],[object Object],[object Object],[object Object]
The MLS Committee ,[object Object],[object Object],[object Object]
Maximum fines  for MLS Violations ,[object Object],Page 25
Improper Advertising ,[object Object],[object Object],[object Object]
More Improper Advertising ,[object Object],[object Object],[object Object]
MULTIPLE   LISTING SERVICE RULES AND REGULATIONS OF : ,[object Object]
SECTION 3 - PURPOSE ,[object Object],[object Object],Page 28
Entitlement  to compensation ,[object Object],Page 29
Let’s Define…..who is: ,[object Object],Page 30
Let’s Define…..who is: ,[object Object],[object Object]
Let’s Define…..who is: ,[object Object]
Let’s Define…..who is: ,[object Object],Page 30
PARTICIPATION POLICIES ,[object Object],[object Object]
PARTICIPATION POLICIES ,[object Object],[object Object],[object Object],[object Object]
LIABILITY ,[object Object],Page 32
REQUIRED TRAINING ,[object Object],[object Object],[object Object],Page 32
A Penalty ,[object Object],Page 33
MLS Subscription Waivers  Available only to: ,[object Object],[object Object],[object Object],Page 33
More Waivers…. ,[object Object],[object Object],[object Object],Page 33
LISTING PROCEDURES ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Page 34
The Participant Represents ,[object Object]
The  Exclusive Right to Sell Listing ,[object Object],Page 35
The  Exclusive Agency Listing ,[object Object],[object Object]
EA (exclusive Agency)  or  ER (exclusive Right to Sell) ,[object Object],[object Object]
TIMING…. ,[object Object],[object Object],[object Object],3 Days Page 36
The Rules,  the rules, the rules ,[object Object],[object Object]
And Even More Rules ,[object Object]
FOR SALE/FOR LEASE ,[object Object],Page 37
Advertising ,[object Object]
Listing Participant to Verify ,[object Object],[object Object],[object Object],[object Object],Page 37
Do Not Fix, Control……. ,[object Object],[object Object]
Terminated from MLS ,[object Object],[object Object],[object Object]
Terminated from MLS ,[object Object],[object Object],[object Object],[object Object]
Listings may be withdrawn.. ,[object Object],Page 39
Not to Hide $$ ,[object Object],Page 39
Listing information  submitted via computer ,[object Object]
When submitted via computer ,[object Object],Page 39
Participant/Subscriber who submits Media : ,[object Object],[object Object],[object Object]
NTREIS reserves the right to reject/remove from the MLS: ,[object Object]
Media from a Prior Listing ,[object Object],Page 40
NTREIS does not permit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Page 41
Let’s Keep It Real ,[object Object],[object Object],[object Object],[object Object],[object Object],Page 41
Appointments ,[object Object],[object Object],Page 42
When You Can’t  Reach the Listing Agent ,[object Object],Page 42
Offers ,[object Object],[object Object],Page 42
Keep Those Offers Coming! ,[object Object],Back Up Offers Page 42
Brokerage Activity Only ,[object Object],Page 43 NO
Possible Fines ,[object Object],[object Object],[object Object]
True Sales Price  Must Be Reported Unless….. ,[object Object],[object Object]
Can Parties Request Sales Price Not Be Disclosed? ,[object Object],[object Object],[object Object],[object Object]
Just Say “NO” ,[object Object],Pages 44
For each violation, a Participant shall be subject to a minimum fine of ,[object Object],[object Object],[object Object],Pages 44
No Sales Price= List Price ,[object Object],[object Object],Page 44 'Z' Flag
Real Estate Signs ,[object Object],[object Object],Page 45
Passwords/access codes  = Secret ,[object Object],Page 45
COMPENSATION TO  OTHER PARTICIPANTS  ,[object Object],[object Object],[object Object],Page 45
COMPENSATION ,[object Object],[object Object]
Variable Rate Commission ,[object Object],[object Object],[object Object]
Disclose the Differential ,[object Object],[object Object]
ENFORCEMENT OF  RULES OR DISPUTES   ,[object Object],[object Object],[object Object],[object Object],Page 47
Who Do You Tell?? ,[object Object],Page 47
If a violation is found…. ,[object Object],[object Object],Page 47
[object Object],EXCEPTIONS Page 47
USE OF COPYRIGHTED  MLS COMPILATIONS ,[object Object],[object Object],[object Object],[object Object]
Things We Can Do… ,[object Object],Page 48
NTREIS Reports ,[object Object],[object Object]
Required Notice ,[object Object],[object Object],Page 49
No Seller Info  to Customer or Clients ,[object Object],[object Object],[object Object],[object Object],[object Object]
More Ways to Risk Your Money ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
That’s All Folks

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Risking Your Money

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