by Betsy Urbance, Illinois REALTORS® Director of Legal Services
What were the Top 5 categories from the Illinois REALTORS® Legal Hotline for the first half of 2017, you ask? Here they are in order. Get sample situations from each of these Top 5 categories:
1. Agency Issues
2. Contracts to Purchase Questions
3. Illinois Real Estate License Act – Scope Questions
4. Advertising Issues
5. Illinois Real Estate License Act (RELA) – Business Practices
Recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation (IDFPR) include:
Illinois REALTORS® worked with the Illinois Department of Financial and Professional Regulation (IDFPR) to develop and negotiate these important changes for licensees, which simplify and modernize several aspects of the education process as well as new education requirements for leasing agents. When do these changes take effect? While the legislation is effective Jan. 1, 2018, additional time will be needed for implementation and enforcement while IDFPR rules are finalized. Download this infographic to share highlights with your agents, and stay tuned for updates.
WATCH! What Happened to the Mold Disclosure Form?
In the next episode of this new video series, Legal Minutes, Director of Legal Services Betsy Urbance shares why Illinois REALTORS® no longer offers a mold disclosure form, plus helpful tips on the legal requirements regarding mold disclosure. Share this video at your next office meeting (member login required)!
NAR needs your help to drive messages to members of Congress urging support of The 21st Century Flood Reform Act (H.R. 2874)—reauthorizing the National Flood Insurance Program and making a number of critical improvements including:
This certainly keeps our team of local lobbyists busy. At any one time, our 12 local Government Affairs Directors (GADs) are dealing with over 300 issues, ranging from inspections to requirements on new housing (e.g. sprinklers; impact fees). Use this wordcloud to share the hundreds of local issues that have been monitored so far this year to stop added taxes, fees and red tape for the real estate transaction.
Illinois REALTORS® Treasurer Dan Wagner will share his knowledge of “1031 Exchange: Another Tool for Your Toolbox,” at the REALTOR® Conference and Expo on Nov. 5. He will be joined by, among others, Illinois REALTORS® Carrie Little of CarMarc Realty Group, LLC, presenting “Big Data! The Next Big Thing in Content Marketing” and Marki Lemons-Ryhal, sharing “Effectively Getting Started with Facebook Live,” both on Nov. 4, Learn more about Illinois REALTORS® at the REALTOR® Conference, and make plans to join fellow REALTORS® in Chicago.
Help agents achieve their best performance and prevent them from making costly mistakes. The best way to do both is to encourage agents to enroll in the online GRI program. REALTORS® who hold the GRI designation bring in an average of 45% higher income than non-designees and receive more referrals. GRI courses delve deep into legal and regulatory issues, client systems, technological tools and professional standards. When you encourage agents to pursue the GRI designation, you open up new opportunities for them to succeed. And earning the GRI yourself sets the standard for agents and demonstrates your commitment to professionalism.
A real estate agent was recently sued by the buyers for damage after claiming that the agent failed to provide them wtih a copy of the inspection report, which indicated that repairs were needed. The agent was unable to produce the forwarded email containing the inspection report—making it impossible to effectively refute the allegation. Are you or your agents at similar risk? sponsored content
Your agent's safety is a top priority! Now is the perfect time to for you and your agents to sign up for one of the REALTOR® Safety course offerings and get tips and reminders for creating security procedures at your office. Check with your local association for a schedule of course offerings that offer CE credit, or check out NAR's REALTOR® Safety page for videos and resources to put a safety protocol in place in your office.
Online Only! Designated REALTOR® Legal News is e-mailed to all members who are the Designated REALTOR® (or DR) for their real estate office. Be sure to watch and open all e-mail from “Illinois REALTORS."
The Designated REALTOR® Legal News is e-mailed six times per year (January, March, May, July, September, November) to the Designated REALTOR® member of the Illinois REALTORS®. For reprint permission, contact email@example.com.
Looking for a topic for your next office meeting or regional meeting? The Member Outreach team is available to cover the latest legislative issues in play—local, state and national—as well as new laws, forms, RVOICE resources and RPAC. Call 1-800-752-3274 or Info@illinoisrealtors.org.