‘Did You Present My Client’s Offer?’ Don’t Ignore the Question

November 29, 2018

If a cooperating broker requests that you verify in writing whether you submitted his or her client’s offer to your seller, you’d better not ignore it. You could be disciplined for not responding.

The National Association of REALTORS®’ Board of Directors amended its MLS policy earlier this month to let local associations impose disciplinary action against members who fail to present either written confirmation that an offer was presented or evidence that the seller didn’t want to see the offer. It’s not a new requirement to demonstrate to a buyer’s rep that you presented an offer; the rule has long been laid out in the Code of Ethics. But now that it carries potential for disciplinary action, it has some bite.

The amended MLS policy is covered in the latest Voice for Real Estate news video from NAR. The video also looks at the Board’s decision to have NAR start laying the groundwork for widespread remote notarization. Almost half of all states could consider legislation next year to recognize documents that are notarized remotely, so NAR is pulling together resources for state associations to have what they need to be part of the discussion as these bills are considered.

The video also looks at what you need to know to take advantage of tax law changes that passed last year and points to resources that walk you through the aspects of the Tax Cuts & Jobs Act that are relevant to you, both as a real estate practitioner and a homeowner or renter.