As the 2018 REALTORS® Legislative Meetings & Trade Expo has come to a close, I am happy to report Missouri REALTOR® leaders had a very successful week in Washington, DC.
The week began with a "Top 25 Broker" fly-in, approved by the Missouri REALTORS® Board of Directors in January. The Top 25 Brokers were selected based on their agent count. In addition to designated briefings, the group enjoyed a White House tour and economic briefing in the Vice President’s office. We will continue our broker outreach at all levels.
Additionally, Missouri had a very high profile at the National Association of REALTORS® this year as Missouri’s very own Elizabeth Mendenhall is serving as 2018 NAR President. There are also a number of Missouri REALTORS® on key NAR committees. Highlights of actions taken this past week include:
A major step toward increasing professionalism in real estate by giving associations “new teeth” for enforcing Code of Ethics violations. Under changes to Sections 23(j) and (n) of the NAR Code of Ethics and Arbitration Manual, local associations that choose to adopt the policy can publicize the names of members and the nature of their violations after a second violation of the Code of Ethics. Local associations can also release a photograph of the member, included in the public disclosure.
In another big change to Standard of Practice 1-7, a listing broker, or agent, is required to respond in writing that an offer was submitted to the seller if the cooperating broker who submitted the offer so requests. The listing broker or agent must respond in the affirmative unless the seller has provided written notification waiving the obligation to have the offer presented.
Section 13(d) of the Code of Ethics and Arbitration Manual clarifies the rights and role of REALTOR® principals in an ethics hearing. “We have heard from members about strengthening professionalism, and today we took an important step forward,” said NAR President Elizabeth Mendenhall. “The changes will bring invaluable benefit to consumers and allow Realtors® to serve them to the best of our abilities.”
The NAR Board of Directors also positioned REALTORS® for the future by adopting the association’s first dues increase in eight years. The $30 increase includes $17 for REALTOR® Party advocacy programming with the remaining $13 to fund programs such as the new Commitment to Excellence professionalism initiative, the popular forms and transaction management benefit, and upkeep of the association’s buildings.
Lastly, Past President of Missouri REALTORS®, Sharon Keating, was recognized with the FPC Meritorious Service Award.
For a complete review of actions taken in DC, click here
CEO, Missouri REALTORS®