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Member Updates
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Forms and Practice Changes Now in Effect
On August 17, 2024, the practice changes following NAR's Proposed Settlement Agreement that would resolve claims brought on behalf of home sellers related to broker commissions were implemented across the country and Washington state.
Washington REALTORS® and NAR have resources and education available to help you navigate and implement these changes confidently. Explore today to stay confident & informed:
Resources:
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LEGAL HOTLINE VIDEO
How Do You Use Form 21 to Document Compensation?
The newest version of Form 21 has a revision date of August 2024 and should be used by brokers immediately. There are some major changes to this form centered around documenting broker’s compensation. But, not to worry, Annie and Washington REALTORS® are here to guide you through these changes!
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Watch Video→
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DOL Open Recruitment - Real Estate Programs Investigator 3
The Department of Licensing currently has an open recruitment for an Investigator 3 for their Real Estate Programs. The recruitment is now live and if you or someone you know is interested in applying, you can find the announcement here.
This recruitment will close on August 27, 2024, at 11:59 PM Pacific.
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Learn More & Apply→
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Nykia Wright Named Permanent CEO for the National Association of Realtors®
NAR has named Nykia Wright its permanent Chief Executive Officer, effective August 19, 2024! Wright, an executive with vast experience driving organizational transformation, has served in NAR's interim CEO role since November 2023. Learn more about Nykia and read the full announcement below.
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Read More→
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DON'T MISS YOUR CHANCE!
Get Involved at our Upcoming Fall Business Conference!
Join us in Kennewick at the Three Rivers Convention Center September 18th – 20th 2024!
Our annual Fall Business Conference event brings together 250+ passionate REALTORS® from all corners of our stunning state to shape the future of the association, set new directions, and drive success. Network, participate in leadership elections, and take part in engaging discussions like the Member Forum that will elevate WR and your real estate career to new heights!
Plus, pack a little fun into your conference experience and join us for Fun Night hosted by the Tri-City Association of REALTORS®.... more details to come, so stay tuned.
Seize this opportunity to connect with fellow leaders and leave your mark at the 2024 Fall Business Conference - register today!
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Register & Learn More→
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Did You Know?
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Your Membership Can Save You Money on Self-Directed Retirement Accounts!
Have you explored the NAR REALTOR Benefit®, IRAR Trust Company (IRAR)? NAR members and clients can receive an exclusive discounted flat annual fee for Self-Directed Retirement Accounts! Your account includes unlimited transactions and unlimited assets. These accounts provide powerful tax advantages, enabling you to:
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Invest in real estate with retirement dollars— tax-deferred.
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Lower your taxable income through contributions.
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Accelerate business growth by helping IRA investors with transactions.
Learn more and get started today at the link below!
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Learn More→
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Legal Hotline Q&A of the Week
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Question
I understand 17a is the amount the seller has agreed to offer in advance. But when it comes to 17b do we put the total amount the seller is going to pay the buyer broker ( sellers in advance offering + buyers request) or do we put in 17b just the amount the buyer is asking in addition to the sellers offering in 17a?
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Answer
Form 21, paragraph 17 has a blank labeled (a) and a blank labeled (b). The two provisions are stand alone provisions. Neither is dependent on the other and neither is ever added to the other. Blank (a) is the space where buyer broker should disclose, to buyer, the amount of BB compensation seller offered, if any. Blank (b) is where the amount of compensation that seller will actually pay to BB at closing should be identified. When the parties reach mutual acceptance, the amount identified in paragraph 17(b) is the amount of compensation seller will pay BB at closing, regardless of the amount of compensation seller offered.
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Printable PDF →
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The Legal Hotline Lawyer does not represent Washington REALTORS® or its members. The advice contained herein does not constitute legal counsel. To browse through our database of past Q & A’s, visit warealtor.org/legal-hotline. Attorney Annie Fitzsimmons writes the Legal Hotline Question and Answer of the Week. This is a WR members-only benefit so you will be prompted to log in with your M1 number and password. Your Designated Broker is cc’d on Legal Hotline inquiries.
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EDUCATION OPPORTUNITIES
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Complete Your Code of Ethics Education Before Dec. 31st!
Current Cycle: January 1, 2022 to December 31, 2024
As required for REALTOR® membership, all REALTORS® must complete at least 2.5 hours of ethics training that meets specific learning objectives and criteria. The current cycle deadline is Dec. 31, 2024. Why wait? Check your status and view training options today.
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Learn More→
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Washington Real Estate Fair Housing - 3.0
Wednesday, August 21st, 2024 (9:00am-12:00pm) 3.0 CE Hours
Live Webinar
Learn More & Register
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Change is Hard... Unless You're Prepared
Tuesday, August 27th, 2024 (9:00am-12:00pm) 3 CE Hours
Live Webinar
Learn More & Register
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At the Intersection of NAR’s Settlement, Escrow Closings and Residential Lending
Wednesday, August 28th, 2024 (8:30am-12:00pm) 3.5 CE Hours
Marcus Whitman Hotel and Conference Center, Walla Walla, WA.
Learn More & Register
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New Forms, Hot Topics & Other Industry Fun
Wednesday, August 28th, 2024 (1:00pm-4:00pm) 3.0 CE Hours
Marcus Whitman Hotel and Conference Center, Walla Walla, WA.
Learn More & Register
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At the Intersection of NAR's Settlement, Escrow Closings and Residential Lending
Thursday, August 29th, 2024 (9:00am-12:30pm) 3.5 CE Hours
Holiday Inn Express, Pasco, WA.
Learn More & Register
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Wow... What Just Happened?
Thursday, August 29th, 2024 (1:00pm-4:30pm) 3.5 CE Hours
Holiday Inn Express, Pasco, WA.
Learn More & Register
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View All Upcoming Classes...
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