The steps you need to take if you receive a fair housing complaint. If you’ve ever been on the receiving end of a fair housing complaint, you know how badly it can rock your world. Whatever the circumstances, you’ll have a better outcome if you take a serious, straightforward approach. Start by contacting your attorney. …
Category: Real Estate Tips
Oct 04
Addressing Bias in Appraisal Standards
The meticulous work of drafting a new ethics rule will pay off in clarity for our profession and the public. Nothing matters more to a service profession than public trust. REALTORS®, whether specializing in sales, appraisals, property management or other disciplines, need to be trusted by members of the public in order for our services …
Oct 03
Avoid Legal Snafus Around Canceled Contracts
Home buyers or sellers may back out of a home sale for any number of reasons, but lawsuits are a real risk. Know how to protect yourself. Most real estate professionals have had a client with cold feet back out of a deal at the last minute. Maybe the client got psyched out over finances …
Oct 02
Fair Housing Is In Your Hands
More than 50 years after the federal ban on housing discrimination, upholding the law’s spirit remains a challenge. Here’s how to be a fair housing leader. Sandra Butler refused to let it slide when a seller she represented made what felt like a discriminatory comment. The seller thought the buyers, who had foreign-sounding names, were …
Sep 29
Know Your Role in Preventing Money Laundering in Real Estate
Industry vulnerabilities to these types of scams are under intensifying scrutiny. Federal agencies are passing new measures to combat the risks. The Financial Crimes Enforcement Network(link is external) (FinCEN) is taking extra steps to prevent the growing number of money laundering schemes involving real estate. The latest updates to antilaundering rules do not involve extra …
Sep 28
Reaching Amicable Agreements
Your association’s ombudsman program can help you can nip conflict in the bud. I have heard about an ombudsman program at my local REALTOR® association. What exactly is it, and how does it work? Most of us don’t like conflict. Consumers and real estate professionals who want to vent or voice a concern about an …
Sep 27
What Did the Property Owner Know?
Service animal case points up the importance of clear communication between housing providers and tenants. Editor’s Note: After publication of this story, we discovered an update in the court proceedings. On March 30, 2023, the 9th Circuit District Court awarded $14,800 in damages to the plaintiff, Ashley McClendon, finding that the defendant reasonably should have known of McClendon’s disability …
Sep 26
How Buyer Agreements Boost Your Value, Fend Off Claims
It’s an opportunity to explain to your clients what your role is in the transaction and how they’ll benefit from your services. Real estate agents don’t always ask their clients to sign a buyer representation agreement—but there are plenty of reasons they should, according to the National Association of REALTORS®’ latest “Window to the Law” …
Sep 22
AI Use in Real Estate Comes With Copyright Concerns
Real estate professionals experimenting with content creation through artificial intelligence should keep the Code in mind as case law evolves. Although copyright law is rooted in human authorship going back to a Supreme Court decision from the 1880s, various cases involving fast-moving artificial intelligence technology are challenging that rule of law today, Chloe Hecht, senior …
Sep 21
Know Your State’s Laws Around New Residents With Pets
Your clients who are relocating across state lines may be surprised at the requirements for pets that are coming with them. Consult this state-by-state breakdown. Many home buyers keep their pets top of mind when shopping for a property, with 43% of pet owners saying they’re willing to move to accommodate their furry friend, according …
Sep 20
Know Your Duties as Data Privacy Enforcement Ramps Up
Consumers are demanding increased transparency about how their personal information is being used. Follow these best practices when handling sensitive client data. As more aspects of a transaction head online, real estate professionals are collecting more client information digitally, from Social Security numbers to bank account information and copies of driver’s licenses. How you collect …
Sep 20
Using AI in Your Real Estate Business? 3 Traps to Avoid
Artificial intelligence is shaking up how agents and brokers do business. But there are some legal pitfalls to watch out for. Artificial intelligence is enabling real estate professionals to streamline some of their work by generating instant responses to customers or even predicting the next client. But using the technology in your business comes with …
