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Notes From the Legal Hotline: December 2022
December 2, 2022
Q: Does a buyer whose offer was not accepted have the right to a written objection? A: No. Most offers are valid for a finite period of time, as specified in the offer itself. Once that time period has lapsed without an acceptance, the offer is no longer valid, acting as a de facto rejection by the seller. A buyer has the ability to request a formal written rejection, but… -
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National Association of REALTORS® Installs 2023 Leadership Team
December 2, 2022
This is an NAR contributing article. ORLANDO (November 14, 2022) – Kenny Parcell was installed as 2023 president of the National Association of REALTORS® during NAR NXT, The REALTOR® Experience(link is external), today in Orlando. Parcell, a REALTOR® from Spanish Fork, Utah, is broker-owner of Equity Real Estate Utah. He served as NAR’s vice president of government affairs in 2018 and was the REALTOR® Party RPAC fundraising liaison in 2017. Parcell… -
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Eleven Takeaways From the 2022 Profile of Home Buyers and Sellers
November 28, 2022
This is an NAR contributing article by Vice President of Demographics and Behavioral Insights, Jessica Lautz. Picking up the 2022 Profile of Home Buyers and Sellers can be a daunting task. There are 142 pages of content, and many charts span the 41-year history of the data set. This post helps you wade through some of the more striking changes. Here are a couple of things to note as you… -
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The Economic Development Bill is Back
November 11, 2022
Though the two-year formal legislative session ended in August without finality on several significant housing pieces, the Legislature continued its work during informal sessions to reach a compromise on the much-awaited economic development bill. And we continued our advocacy. Earlier this week, the Legislature passed an updated compromise bill (H.5374) containing several important housing elements MAR supports: Funding – the bill contains just under $450 million in funding for housing… -
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Notes From the Legal Hotline: November 2022
November 2, 2022
Q: If a transaction falls apart and there is a dispute over the release of escrow funds, can the seller place the property back on the market and go under contract with a new buyer? A: Maybe. It is a best practice to fully resolve any outstanding issues with the failed transaction prior to placing the property back on market and proceeding with a subsequent purchaser. Unfortunately, not all situations… -
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November is Designation Awareness Month
November 1, 2022
Designation Awareness Month was established in 1994 to encourage members to start or complete an officially endorsed designation or certification through NAR or one of its Institutes, Societies, and Councils. During this month, NAR has discounts for many of the online courses offered through REALTOR® University School of Professional Development & Continuing Education. Get Involved Each year in November, NAR provides Designation Awareness Month logos to share with your local… -
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Updates to the MassForms™ Library
October 13, 2022
At its September meeting, the MAR Forms Content Advisory Committee made several important updates to the MassForms™ Library: Prospective Tenant Application (#400) The Committee elected to rename this form from “Prospective Tenant Information Form” to “Prospective Tenant Application” so that the name more accurately depicts the nature of the form. The Committee also removed all references to “spouse” as well as asking the specific date of birth and social security… -
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Notes From the Legal Hotline: October 2022
October 3, 2022
Q: Can a brokerage operate as a designated agency on a per-transaction basis? A: No, because of the way agency relationships in real estate transactions work, the type of agency a brokerage practices must be consistent for all transactions. A brokerage may elect to transition from traditional agency to designated agency, or vice versa, as an office policy, but the type of agency practiced at any given time must be… -
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Convention Safety: 5 Things You Must Add to Your Safety Checklist
September 6, 2022
This is an NAR contributing article. Real estate agents have several opportunities to attend conventions throughout the year. We often talk about safety while working, however, protecting yourself while attending conventions, while in hotels and touring new cities, is just as important. Please review the following tips and make them… -
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Notes From the Legal Hotline: September 2022
September 1, 2022
Q: The financing contingency date in the contract has passed and the buyer has not informed us of whether they received a commitment – is the deal dead? A: Not necessarily. The passing of any contingency date without an extension or notification of withdrawal by the buyer simply means that…
