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December 5, 2006

 
The Annual

is Next Tuesday
DECEMBER 12

Join us for PGCAR's Annual Holiday Party

6 p.m. at La Fontaine Bleu

            
The Holiday Committee is busy planning another fun-filled evening for PGCAR members and their guests...
DJ, caricaturist, palm reader, door prizes, food, drink and always much, much more!  Register now!

ALSO, this year we will again be collecting:

  • Coats for the needy, and
  • Food for the hungry

Help this year's campaign be the biggest ever! Please begin collecting these items in your office and deliver to the association office NO LATER THAN Friday, December 15, or bring them with you to the Holiday Party.

            

 
MAR OPEN HOUSE

The MAR Holiday Open House will be held Thursday, December 14, from 1 to 3 p.m. All members are welcome. RSVP to Rebecca.Baker@mdrealtor.org or call 1-800-638-6425 or 410-841-6080.

 
MAR TOWN HALL MEETING

Monday, February 12, 2007 at the Greenbelt Marriott, Greenbelt, from 11:30 a.m. to 1:30 p.m. You know that question that you have been yearning to ask MAR leadership? Here's your opportunity to do so! Join your colleagues for an informal complimentary lunch and meet the MAR Leadership and staff to find out the answers to those questions. RSVP to jostenso@pgcar.com.

 
CONDITIONS FOR HOME BUYERS IMPROVING

Although sales activity and single-family home prices are slightly down from last year, conditions for home buyers continued to improve during the third quarter. "With the market in full transition, buyers now have choices and sellers are more willing to negotiate - under these circumstances it's no surprise that overall home prices are slightly below a year ago. We expect this trend to continue in the months ahead, but we'll see modest appreciation in most of the country in 2007," said David Lereah, NAR chief economist. Click here to read more.

 
THIS YEAR'S KEY COURT DECISIONS

Each year, court decisions on real estate issues impact your business practices. You need to keep up to date to continue to do business legally. Click here for a list of key decisions handed down this year that may affect your business.

 

 
UPDATED LIST OF LICENSEE VIOLATIONS

The Maryland Real Estate Commission recently updated its list of licensees found to have violated the license law. The list can be viewed here.

 
CONTINUING EDUCATION

Meet all of your required Continuing Education for Maryland license renewal!


This Thursday, December 7
MD Legislative Update
Meets 3 MD required Legislative Update CE
Don Martin 9:30 am - 12:30 pm
MD Fair Housing Update
Meets 1.5 MD required Fair Housing CE
Don Martin 1:30 pm - 3:00 pm

This Friday, December 8
Home Inspections & Environmental Issues
3 Elective CE, MD & DC
Walter Clews 9:30 am - 12:30 pm
Stigmatized Properties
1.5 Elective CE, MD only
Tony Kinch 1:30 pm - 3:00 pm

Next Wednesday, December 13
What Every REALTOR® Should Know About Mortgages
3 Elective CE, MD only
Michael Chelst 9:30 am - 12:30 pm
Maintaining Proper Records
3 Elective CE, MD only
Prabhjit Singh 1:30 pm - 4:30 pm

Next Thursday, December 14
What U Don't Know About Credit Can Hurt U
3 Elective CE, MD only
Matt Tove 6:00 pm - 9:00 pm

Next Friday, December 15
MD Real Estate Ethics
Meets 3 MD required Ethics CE
Don Martin 9:30 am - 12:30 pm
Real Estate Tax Issues
1.5 Elective CE, MD & DC
Linda de Marlor 1:00 pm- 2:30 pm

 

Code of Ethics Case Study
Case #13-2: Use of Standard Purchase Contract Form
REALTOR® A, as the exclusive agent of Seller B, sold a small commercial property to Buyer C, filling in the blanks in the standard purchase contract form. At the time REALTOR® A presented the contract for Buyer C's signature, he explained that the contract was prepared by attorneys and was commonly used in the area. He suggested that Buyer C have his attorney review it. Buyer C said he would read it over carefully, and if he had any questions he would consult an attorney about it. He subsequently signed the contract, saying it was clear and satisfactory to him.

At the closing, Buyer C professed to having been under some misunderstanding as to language in the contract regarding the date of possession of the property, and following the closing Seller B complained to the Board of REALTORS® that he had been greatly embarrassed by this circumstance at the closing and felt that REALTOR® A was at fault in preparing a contract without having an attorney participate in the drafting.

At the hearing, REALTOR® A reiterated the points that had been made in his written response to the complaint: that the contract he had used was the standard form, prepared by an attorney; that in keeping with Article 13 he had recommended that the buyer have the contract reviewed by his own attorney; and that no other parties present at the closing had found any lack of clarity in the clause in question.

The Hearing Panel concluded that REALTOR® A had acted in conformance with the Code; that he had not undertaken to practice law; and that he was not in violation of Article 13.

Prince George's County Association of REALTORS®
8400 Corporate Drive  :  Suite 225 : Landover MD 20785
Phone 301-306-7900  :  Fax 301-306-8273  :  www.pgcar.com  :  ©2006, PGCAR

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