KAR Governmental Affairs protects your profitability by keeping the real estate industry and your individual business healthy. When you contribute to RPAC or participate in a Call for Action on an important legislative issue, you give us the tools we need to interact with government officials and defeat proposals that would have a negative affect on your profitability.
As your dedicated advocate on Capitol Hill and at the State Capitol, we interact with government officials on your behalf and defeat unfriendly proposals so you can use your valuable time to focus on what you do best - provide quality service to your clients and earn a living!
WHAT'S NEW
Real Estate Licensees Must Disclose Short Sales in All Real
Estate Transactions
(August 29) The Commission has determined that a real estate
licensee must make a disclosure to all parties in the transaction
when they have actual knowledge that a transaction will result
in a short sale. If a real estate licensee has actual knowledge
that a short sale situation exists and does not disclose that
information to the other parties in the transaction, then that
licensee could be disciplined by the Commission for a failure
to disclose an adverse material defect.
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All Compensation for BPOs and CMAs Must Flow Through
the Supervising Broker; Supervising Broker Must Maintain
Documentation in Brokerage Records
(August 29) Last month, the Commission determined that all
compensation for brokers' price opinions (BPOs) and
comparative market analyses (CMAs) completed by real estate
salespersons and associate brokers must flow through the
broker. As a result, if you are a salesperson or associate broker
that receives compensation for a BPO or CMA, that
compensation must be paid to the supervising broker just like
a real estate commission. Supervising brokers must maintain all
documents pertaining to BPOs and CMAs in their brokerage files.
Read More>
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