PAR Service
Dual agency fraught with difficulty

If your practice permits dual agency but not designated agency, you may want to re-examine the reasons and determine whether your policy is in the best interest of your clients and your risk reduction practice.

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PAR Service
Radon, radon everywhere…

The World Health Organization (WHO) recently released an extensive report on radon, suggesting that there may be a greater risk of lung cancer at lower exposure levels than earlier believed. REALTORS® and consumers may think the report’s recommendations (establish action levels for radon remediation at the equivalent of 2.7 pCi/L) have the force of law in the United States. They do not.

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PAR Service
Best of the hotline: Marketing an equitable interest

A buyer and seller have entered into an agreement of sale. Before settlement, the buyer seeks to “sell” his equitable interest in the property to any qualified buyer. This buyer-turned-seller approaches you and asks that you list the property for sale. He wants you to place the property’s availability in the multi-list, advertise and do all of the things you would ordinarily do as listing agent.

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PAR Service
When escrow accounts should be interest-bearing

Brokers of record have a wide range of responsibilities, some of the most serious of which involve escrowed money. Regardless of how it is described – hand money, good faith money, down money – it is money belonging to another. The Rules and Regulations interpreting the broker’s responsibility are fairly strict, fairly broad and are closely scrutinized when potential violations are brought to the attention of the Real Estate Commission.

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PAR Service
Should you or shouldn’t you pay a subagent?

From time to time, we will get calls on the Hotline about the “legality” of a listing agent refusing to compensate a subagent. The reason most frequently given by listing agents is a belief that they are protecting their sellers from liability. The easy answer to the question is that the law does not require a listing agent to compensate anyone, nor does the NAR Code of Ethics.

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PAR Service
Know when a property inspection requires a specialist

Home inspections should be conducted as early as possible in the home-buying process. Even if a buyer has 15 days to perform a property inspection, make sure that the inspection takes place within the first several days of the contingency period. When the report is issued carefully review it with your buyer.

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