Q: What is the process for filing a dispute against another REALTOR?

Answer:

If a dispute arises between two brokers as to who was the procuring cause, that dispute must be submitted to the MNAR Professional Standards Committee for resolution if the brokers cannot independently agree on a resolution of the dispute.

If the brokers involved are not able to agree on a resolution of the dispute between themselves, they may wish to voluntarily submit to mediation through the MNAR whereby a Mediation Officer can be appointed to assist them in resolving the controversy rather than having the matter decided by an Arbitration Hearing Panel.

The Code of Ethics encourages full awards or no awards; split awards are only made in exceptional cases. It is this rule that should prompt brokers who are involved in a commission dispute to try to resolve the issue by mutual agreement rather than run the risk of losing the entire commission through a decision by an Arbitration Hearing Panel.

If the brokers cannot independently resolve the dispute, do not agree to mediate the dispute, or mediate without success, then an Arbitration Hearing Panel will be appointed through the Professional Standards Committee and that Arbitration Hearing Panel is charged with making a determination based upon procuring cause.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Q: I have a contractual dispute (or a specific non-contractual dispute) with another REALTOR member. Can I bring them to court?

Answer:

Under the terms of membership in the National Association of REALTORS® (“NAR”) and pursuant to Article 17 of the Code of Ethics of the NAR, Minnesota REALTORS® are obligated to submit their contractual disputes and specific non-contractual disputes with other REALTORS® to the Professional Standards Committee of the Minnesota Association of REALTORS® (“MNAR”) for resolution. REALTORS® are strictly prohibited from going to courts of law to resolve their disputes with other REALTORS®, unless both parties agree not to use the Association’s services.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Q: What do I do if a commission dispute has been filed against me?

A: If your brokerage is named in an Arbitration Request, you will be notified and will receive a copy of the commission claim.

The Request will be reviewed by a Grievance Review Panel whose job is to determine, among other things, if there is a properly arbitrable matter, whether the proper parties are named, and whether the request for arbitration is timely filed (filed within 180 days after closing or within 180 days after the facts constituting the arbitrable matter could have been known in the exercise of reasonable diligence.)

If the Grievance Review Panel determines that the proper information was included in the arbitration request and it is timely filed, you will be asked to submit a written response to the arbitration request and be offered an opportunity to participate in mediation, which is a voluntary process.

If mediation is declined, the matter will be forwarded to an Arbitration Hearing Panel of the Professional Standards Committee for a determination on the matter.

If all parties agree to mediation, a Mediation Officer will be appointed by MNAR to work with all parties to overcome objectives and assist in finding a solution or settlement that all parties can agree upon. If settlement is reached, a Mediation Resolution Agreement, a legally binding agreement, will be drawn up and signed by the parties. If the parties are unable to reach a resolution, the matter will proceed to a hearing before an Arbitration Hearing Panel.

If the matter proceeds to a Hearing, you will be asked to attend a proceeding where you and your legal counsel (if any) will be given an opportunity to present testimony, evidence, and call witnesses. You and your counsel will also be given an opportunity to cross examine the complainant and their witnesses and respond to complainant’s cross-examination. The Hearing Panel may question the complainant, respondent, and any witnesses. The Arbitration Hearing Panel will weigh all factors and the entire course of events to make a determination on the matter.

The award of the Arbitration Hearing Panel, which will state the amount of the award, if any, will generally be mailed to all parties within five (5) days of the hearing. When served on the parties, the award is valid and binding. Decisions of Arbitration Hearing Panels may not be reviewed or appealed, however parties may request a procedural review of the arbitration hearing procedures based only upon alleged procedural deficiencies or other irregularities the party believes constitute a deprivation of due process on the part of Hearing Panel Member or others acting on behalf of the MNAR.

For more real estate questions and answers visit the Desktop Reference Guide!

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry. 

 

Real Estate Showcase Showdown – September 30th!

Sep 30 L Showcase-Showdown

We are inviting you to #ComeOnDownMN to the Real Estate Showcase Showdown on Wednesday, September 30th at the St. Paul RiverCentre! This year, we are proud to have Travis Robertson, Mary Kelly and Nobu Hata among other great speakers to share their Pyramid of knowledge with you.

The Price is Right! The $49 event cost includes: FREE PARKING, Breakfast, Lunch, Programs, Exhibitor Showcase and Cocktail Reception.

R.E. Showcase Showdown Schedule – 9am-5pm

8am: Registration

9am: Hear it Direct! Buyers’ Panel

11am: The Real Estate Playbook: How to Grow your Business by 40% in the Next 12 Months – Instructor: Travis Robertson – Keynote Session (Approved for 1 hour MN CE**) 

Noon: Exhibitor Expo and Lunch

1:45pm – First Breakout Session: Choose 1 of the following

  • When Generations Connect – Instructor: Scott Zimmer (Approved for 1 hour MN CE**)
  • Legal Hotline Attorney, Brad Boyd, speaking on risk management pitfalls
  • Business Plans and Productivity – Instructor: Mary Kelly

2:45pm – Second Breakout Session: Choose 1 of the following

  • D.A.N.G.E.R. – Instructor: Judd Sampson and Todd Shipman
  • What Buyers and Sellers Want – Instructor: Nobu Hata (Approved for 1 hour MN CE**)
  • Safety in Smart Business – Instructor: Kate Beckman

3:45pm: Leadership in Real Estate – Instructor: Mary Kelly – Closing Session

4:35pm: Cocktail Reception in Vendor Area

*Pre-registration will end Sunday, September 27th at midnight. On-site registration will be available at the Showcase for $69.00 on a first come-first served basis as space allows. 

** This course has been approved by the Minnesota Commissioner of Commerce for 1 Hour of real estate continuing education.

Register HERE

Brought to you by the Minnesota REALTORS® and the St. Paul Area Association of REALTORS®.

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry. 

 

Connect with MNAR!

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The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate community.

Minnesota Association of REALTORSⓇ 2-DAY EVENT!!

Day 1

Wednesday, October 8th 2014

Housing Summit

DoubleTree by Hilton Bloomington – 7800 Normandale Blvd, Bloomington

Please join us at the 2014 Minnesota REALTORSⓇ Housing Summit! We’ve put together an event based on your time and educational needs. During the Housing Summit, you will have three tracks to choose from – Broker, Technology and Sales and Marketing. You can follow one track for the day, or jump around and explore a class in each track. We’ve brought in several national speakers with some great topics!

The Schedule:

HS

Day 2

Thursday, October 9th 2014

Two GRI Classes

DoubleTree by Hilton Bloomington – 7800 Normandale Blvd, Bloomington

  • Receive 6.0 Hours MN CE
  • Satisfy the requirements for two GRI designation courses
  • Recieve the latest in practical real estate technology information

Courses:

Business and Communication Technology

3 RE CE Credits

Instructor: Craig Grant, Real Estate Technology Institute; Certified GRI instructor for technology and marketing courses

  • Technology tools for today’s REALTORⓇ
  • Smart Phones and Apps
  • Finding Real Estate Customers Online
  • Using Technology to improve your customer service
  • Technology safety tips for REALTORSⓇ

Click HERE to Register for the Business and Communication Technology Class (GRI)

 

Resolving Transaction Disputes

3 RE CE Credits

Instructor: Jonathan Kopecky – Director, Professional Standards, MNAR

  • Practical applications for dispute management with clients
  • The Commission dispute process including risks and proof

Click HERE to Register for the Resolving Transaction Dispute Class (GRI)

GRI HS

 

Go to www.mnrealtor.com to register today!

 

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Blood Drive

MN CRS Board of REALTORS® – BLOOD DRIVEhand shake

Hosted at the Minneapolis Board of REALTORS®

When: Monday, July 14th – 1:30pm – 4:00pm

Drive Location: 5750 Lincoln Drive, Edina, MN 55436

To sign up, go to mbc.org/searchdrives and enter sponsor code 4227.

Please contact Sandy Maxwell at sandy@sandymaxwell.com, Jim Geisinger at jimgeisinger@comcast.net or Betty Cole at bettycole@edinarealty.com with questions.

 

The Minnesota Association of REALTORS® is the largest professional trade association in the state with more than 17,000 members who are active in all aspects of the real estate industry.

Tips for Moving Before Purchasing a House

How to move when you’re in between homes.

In an ideal selling/buying scenario, you’d be able to schedule your closings for both houses so that a move occurs with ease in terms of timing and with minimal upheaval. Many times, however, an owner finds themselves needing interim housing. Perhaps they just haven’t found a house yet to buy, but have to move out…or maybe they are building a new home and it’s running behind schedule, or perhaps the closing dates are ‘off’ by a month or so. Regardless the reason, what are some tips for moving before your new home is ready for you?

The shorter the distance and the fewer the furnishings, the easier things will be. But all of these tips are applicable for anyone needing interim housing, near or far.living between homes

Rent Back

Perhaps the buyers of your home have the flexibility that allows you to rent the home from them after closing and you can stay put. This could be for a few days or a few weeks, but just until your new place is ready for you. The benefits for this is having the security to stay in a familiar place, same schools and you don’t have to move more than once.

Move out and find alternate housing

Sometimes renting back isn’t an option, or perhaps you’re moving far away so you need to rent an interim apartment or house for a month or so. What are some options for rentals?

  • Extended stay hotel ~ if you can tolerate hotel living, these hotels have small kitchens and housekeeping. Be prepared to travel VERY light.
  • Rentals ~ It is possible to find apartments, houses, rooms for rent, townhouses, and mobile homes, for short-medium or long-term leases. Find rentals that work for you, unfurnished, furnished, and even pet friendly. If you have a longer gap between homes, this might be your best choice.
  • Vacant homes ~ perhaps you know someone who needs a house-sitter for a few weeks or the home is sitting vacant and could use some furnishings in it for a season. These arrangements usually come by knowing someone, who knows someone.
  • Family or friends ~ depending on how long you’re looking at, you can always bum some space in the basement of family or friends, and sleep on the couch.

Read More »

When Should I Drop the Price of my Home?

Dropping the price of your home can help you sell.

One of the hardest decisions to make when selling a home is trusting that it has been priced correctly for the market conditions. A licensed REALTOR® is most qualified to help you make that decision. Sometimes, though, the price just isn’t bringing buyers in, or the market conditions change, or the timing of your move changes, which requires a faster sell. When is the right time to drop the price of your home?Dropping Home Price

There are a lot of unknowns when selling a house since potential buyers change by the day (as does the competition). But there are some basic standards that many agents follow throughout the country.

  • Re-evaluate your listing price every 3-6 weeks, compare your situation with similarly priced homes and then decide if a price reduction makes sense.
  • If your home is getting lots of showings and action, good feedback, but no offers, a small price reduction of 1-2% might be enough to get someone who has seen the home, to bite.
  • If your home isn’t seeing a lot of action and is getting so-so feedback, a greater reduction of 5% might be your best option.
  • No showings – you are not priced right, so reduce it about 10% and see if you get people through the doors.

Read More »