Violations Can Be Costly
 A look at recent disciplinary actions by the Real Estate Commission

A scan of disciplinary actions taken by the Real Estate Commission shows how important the tiniest detail is to the transaction a clean record for the licensee. Here is a sampling of actions taken in the past six months.

• A $2000 civil penalty assessed for failing to provide the seller with estimated costs prior to the sale, and charging an undisclosed coordination fee to the seller at settlement.
• A $300 civil penalty for failing to advise the consumer regarding the status of a transaction.
• A $750 civil penalty for misleading or untruthful advertising and violating the Commission's regulation which requires that an advertisement contain the business name and telephone number of the employing broker.
• A $1000 civil penalty for failure to immediately deposit money belonging to another in a separate custodial account.
• A $125 civil penalty for being employed by a broker other than the one designated on the license and/or failing to properly notify the Commission procedures for change of license to a new employer.
• A $1500 civil penalty for engaging in the practice of real estate in fifteen transactions without a properly renewed license.
• A $4000 civil penalty for failure to provide a consumer notice at the initial interview and failure to properly deposit monies.

Note that there are many other fines that have been assessed by the Commission that are not listed here. Ultimately, this list is a reminder of the importance of knowing and following the rules and regulations as set and executed by the Commission.

Click here to access rules and regulations.

 NAR Testifies To Congress
 President-elect says "Real Estate is more competitive than ever."

Yesterday (July 25), the National Association of REALTORS' president-elect, Pat Vredevoogd Combs, testified in front of a House Financial Services Subcommittee on Housing and Community Opportunity. This is the latest NAR representative to testify in front of congress to assure representatives that real estate is a competitive industry. Additional comments from Ms. Combs touched upon the increased usage of the Internet by the consumer and the evolution of MLS's.

Click here to access the full article.

 Why Respond to a Call To Action?
 

Call To Action are issued by the National Association of REALTORS, Pennsylvania Association of REALTORS and the REALTORS Legislative Alliance. These email notices are intended to spark action from REALTORS to contact their legislators on an issue of importance to their livelihood. It is imperative that REALTORS understand the purpose of these requests and participate. The article linked to below talks in more depth about the importance of Call To Actions and their effectiveness.

Click here to access the article.

 Field Guide Spotlight
 Working With Empowered Customers

The National Association of REALTORS maintains a tremendous number of resources for members on its website (www.realtor.org). The most frequently accessed resources are their Field Guides. Field Guides are one-stop resource packages on dozens of subjects of interest to REALTORS. On each page you'll find links to articles, books, websites, statistics, and other material on each subject. This month we are spotlighting the Field Guide for Working With Empowered Customers. More and more, clients are more knowledgeable and will demand more of their agents. This Field Guide contains resources to help you prepare for these clients.

Click here to access the field guide.

 Discussion Question
 

Each month, the Suburban West REALTORS Association will provide you with a question in which we are seeking member feedback on. We urge you to discuss this question with agents at your office during a sales meeting, through an email, or during the course of your daily conversations.

This month's question is:
What challenges will REALTORS face as the real estate market stabilizes and how can the Association assist its members in this changing market?

Please provide any responses to Mary Lim at mlim@suburbanwestrealtors.com. The responses to this question will assist in the development and enhancement of programs and services for all members.

 Save The Date! Upcoming PAR and NAR Events

The National Association of REALTORS will be celebrating NARdi Gras at its Annual Conference and Expo in New Orleans. The dates for this event are November 10 - 13 and more than 30,000 members are expected to attend for a chance to receive top notch education and networking opportunities. Click here for more information.

The Pennsylvania Association of REALTORS will conduct its next Business Meetings on September 24 - 27 at the Hilton Harrisburg & Towers. These events also provide great opportunity to learn more about real estate issues affecting licensees in the state, insight into PAR and a chance to network with REALTORS throughout the state. Click here for additional information.

The annual Triple Play Conference and Expo has been scheduled for December 5 -7 at the Atlantic City Convention Center. Featuring informative sessions, 500 exhibitors and great social activities, Triple Play is a must-attend event. Click here for more information.