Focus on Legal Affairs
Contracts Q & A - Part 1
The topic of "contracts" encompasses many different things, so it is the most common category asked about on the Legal Hotline. This month, Kelly Shonborn, Senior Staff Counsel, provides the first half of a two part series on contracts. Look for the second part coming in the April 5th Indiana REALTOR® Advocate. Please remember, the Legal Hotline
(1-800-444-5472) is available to assist principal or managing brokers and their
designated agents between the hours of 9 a.m. and 5 p.m., Monday through Friday.
Broker Liability for Failure to Include Contingency
Have you dealt with two closings that are tied together because your client needs funds from the sale of one property to be able to purchase another? Do you always remember to ensure that one closing is contingent on the other? This month, Richelle
Cohen Mossler, IAR General Counsel, discusses
a recent Nevada decision that upheld a jury verdict where the real estate professional failed to make a subsequent purchase contingent on the sale of a residence.
Code of Ethics Centennial Celebration
2013 marks the Centennial of the Code of Ethics and Standards of Practice. Throughout the year, we'll be providing you with information and fun activities related to the code. Each month, in our Focus on Legal Affairs, look for a quick trivia question to test your knowledge about the Code.
Where did the first Code of Ethics proposal get passed?
At the National Association's annual convention, held in Winnipeg in
July 1913, the Code of Ethics Committee submitted its long-awaited
proposal for a national Code of Ethics. Learn more about the Code of Ethics centennial here.
Focus on Education
Transition Your License to Broker and Earn GRI Credit
Recent changes to
Indiana real estate license law require licensed salespersons to transition to
brokers before July 1, 2014. RECP recommends completing the transition course
by January 1, 2014 to avoid a possible backlog of processing. As an added
bonus, licensees who complete the transition course from RECP will satisfy their continuing
education requirements and earn 22 credits towards a GRI designation! Enroll
today in an online (OnDemand) or in-person 24-hour broker transition course.
Broker Continuing Education
Licensed Indiana brokers need to complete 16 hours of continuing education by June 30, 2013. The 16 hours must include six mandatory credit hours and 10 elective credit hours. RECP offers live, two-day CE classes around the state for just $99. Or take RECP's 16-hour OnDemand (online) package for the same $99 price. Complete the OnDemand CE at your convenience from your home or office computer.
Questions & Queries: Helpful Hints from RECP
Have the continuing education requirements for brokers changed?
No, for those currently licensed as a broker (as of 7/1/2012) nothing changes until 2014. Brokers still need to complete 16 hours of continuing education by June 30, 2013. Between July 1, 2013 and June 30, 2014, brokers must complete eight hours of CE. Beginning July 1, 2014, all licensees will be put on the same three-year renewal cycle and must obtain 36 hours of CE with a minimum of 12 specific hours per year.
GRI Text Club
the Graduate REALTORS® Institute (GRI) text club for more information
about the GRI designation, available courses and fun prizes! To join,
text GRI to 71813.
NAR AE Institute
March 15-19, 2013
San Diego, CA
2013 Nationwide Open House
April 20 - 21, 2013
NAR Midyear Legislative Meetings
May 13-18, 2013