National Association Of Realtors Industry Update

Written by: Jim Sexton

President, Arizona Association of Realtors®

In May 2015, a Legislative Conference & Expo was held in Washington, DC to address important topics for the industry. Interesting highlights and recommended actions are listed below with more details for each topic on the website realtors.org:

RISK MANAGEMENT

Highlight: Independent Contractor Update

Highlight: Unmanned Aerial Systems Update

Action: NAR policy on UAS originated at 2014 Conference and Expo unchanged.

Highlight: TRD (RESPA/TILA Integrated Disclosures)

Action: Access Window to the Law and brief overview with suggested expanded resources such as an article on “New Disclosure Forms Alter Transaction” and Phil Schulman’s Presentation: “CFPB, RESPA Review Integrated Forms & Enforcement Actions”

Highlight: Risk Management Issues Report/Emerging Issues/State Reports (18 state submissions)

Action: 4 page double-sided report available upon request from RMC member; Arizona report focused on the difficulties agents are experiencing with solar devices and leases.

RISK MANAGEMENT LICENSE & LAW FORUM

Highlight: Teams, Independent Contractors and REALTOR® Safety. Attendees were introduced to the recently developed series available to all members entitled “Window to the Law.”

Action: Access “Window to the Law” video, presenter’s outline and Independent Contractors white paper.

Note: My spouse and I attended a special 3 hour course entitled: Real Estate Safety Matters: Safe Business = Smart Business prepared and presented by NAR and the Center for Specialized REALTOR® Education. Within these pages, you’ll find the most comprehensive look at safety the REALTOR® profession has ever known.” Chris Polychron, 2015 President of the National Association of REALTORS®

Action: For more information on this important course: 3-Hour Safety Course for REALTOR® Associations | realtor.org

NAR DIRECTOR

Highlight: Key issues presented and passed include:
I. A system which will give brokers a single place to input listing data for distribution on multiple sites.

Action: II. A historic perspective on strategic initiatives launched since 1999.

CAPITAL HILL VISITS

Highlight: Specific Legislative Talking Points can be accessed here for Business Operations, Commercial Real Estate Issues, Housing Finance Issues and Tax Issues.

Highlight: REALTORS® Urge CFPB Grace Period for RESPA-TILA

Action: NAR Urges Grace Period for RESPA-TILA Rule
REALTORS® urge the CFPB to implement a grace period for those seeking to comply with new rules for loan closing procedures and settlement document.

Highlight: To all my fellow REALTOR® colleagues if you haven’t yet obtained the REALTOR® ACTION CENTER MOBILE APP-PLEASE DON’T JUST GET IT-USE IT!

Action: A handout about the REALTOR® Action Center Mobile App is now available.

Other topics were addressed – some include:

• Closings Are Changing: Countdown to August 1: Regulatory Issues Forum
• NAR 360
• When, Where and How Can I Use My Drone?
• Arizona Caucus

Happy reading!

Jim Sexton is also the Designated Broker for Realty One Group. Jim can be reached at 602-690-4900 or at jims@realtyonegroup.com.