WIXLIB

REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Safety is a matter of common senseand thinking ahead.Let’s explore a few things you can do to be SAFER in yourbusinessREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

When you arrive at an OpenHouse or Showing don’t pullinto the driveway to parkSomeone could park behindyou and block you, preventingyour escapeREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Don’t lead clients down stairs orinto rooms - let them go firstIt gives your clients a better firstlook and prevents you frombeing pushed or trappedREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Never meet a stranger at theproperty.If possible have the first meetingwith a client at your officepreferably with co-workerspresent and not after closing timeREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Safety Recommendations Obtain identification from the client like a copy of their drivers license or theirlicense plate number Leave their identification (Name address and phone number) with aresponsible person at the office or on your desk, and tell others where youare going If no one is at the office leave a note on your deskIf possible have someone accompany you on the showing, especially at night Drive separately when possible If it is not possible to drive alone, be the driverREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Be Aware Of your surroundings AND know where the exits are located. Of body language - theirs and yours Of your instincts and inner feelings!If things don’t feel right, they probably are not! Take precautionsand think ahead. be prepared so you don’t freeze or panic .REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

When you might be suspicious A client is reluctant to give you any personal informationA showing is rushed or “spur of the moment”Showings are set for evening hours or during inclement weatherProperty is in a remote locationProperty is vacant or new constructionProperty is in a poorly lit or hard to find locationMany of these situations seem normal. In most cases, they arecompletely normal. However, carry yourself with a heightened senseof awareness.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

How to DEFEND YOURSELF There are NO RULES in a fight for your life. Do whatever isnecessary to get away and make as much noise as possible! Carry personal safety devices and KNOW HOW TO USE THEM. Consider attending self-defense seminars when they areoffered. Discuss your office safety policies so you are aware of optionsthat may be available to you.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

All forms of Safety are a matter ofcommon sense, paying attention andthinking ahead Let’s explore another safety concernREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

The projected annual global cost ofcybercrime by 2025?An Estimated 10.5 TrillionMost of that will not come from large corporations. It will come fromsmall businesses with 25 employees or less. It is the “small fish” that arelargely unprotected.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

You can find many more safety resources viathe following SCW also does an Annual Safety Program, which is FREE to all RASCWMembers!Watch the website and social media for announcements!REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Pop QuizREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

PROFESSIONAL STANDARDSCode of EthicsREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

The Code is the core philosophythat guides how we do businessOUR GOAL TODAY:To get you familiarized with how the Code of Ethics works in ourday to day business.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

History and Background In 1908, the National Association of Real Estate Exchanges (nowthe National Association of Realtors ) was founded by real estatepractitioners determined to unite the real estate profession withthe singular goal of establishing high ethical standards to protectbuyers and sellers. In 1913, the National Code of Ethics was the first created and hasbeen revised over time.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Code of Ethics: Three Parts1) Preamblea) Sets the toneb) Importance of real estate to societyc) Duties of real estate professionalsREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Code of Ethics: Three Parts2) Articlesa) The actual rulesb) Grouped into three categories of dutiesREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Code of Ethics: Three Parts3) Standards of practicea) Provisions that expound uponand clarify the rulesb) Interpret, amplify and giveexamples of how rules areappliedREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 1 Protect and promote client’s interest while treating allparties honestly 1-3: Don't mislead about value to get a listing“I can get you 10k more than the other guy.” 1-6: Submit all offers timely and objectively“That buyer is being unreasonable.” 1-15: Disclose existence of offers if seller approvesThis covers offers before acceptanceREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 2 Don’t exaggerate, misrepresent or conceal pertinent facts“Never had any flooding in basement.” You don’t have to discover latent defectsWhat do you do once you are aware of them? Don’t disclose facts which are confidentialMarital status, financial info, other deals.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 3 Cooperate with other brokers as long as it helps your client 3-1: Listing broker sets the terms of offers to cooperate 3-4: Disclose variable rate commission 3:6: Disclose existence of accepted offers 3-8: Don’t lie about availability of a property for showingsREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 6 Disclose any fee or financial benefit you may receive fromrecommending related real estate products or services Get client’s informed consent before accepting anycompensationREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 9 All Agreements related to real estate transactions should bein writing and a copy given to each party upon signing Use written extensions or amendments Disclose and explain terms prior togetting electronic signaturesREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 10 Do not discriminate in providing services or in real estateemployment for reasons of:Race, color, religion, sex, handicap, familial status, national origin,sexual orientation or gender identity. Standard of Practice 10-5 REALTORS must not use harassing speech, hate speech,epithets, or slurs based on race, color, religion, sex, handicap,familial status, national origin, sexual orientation, or genderidentity. (Adopted and Effective 11/2020)REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 11 Practice Competently Live up to the standards of practice and competencyreasonably expected in your discipline. Don’t practice outside your expertise unless you get help orwithout full disclosure to client.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 12 Present a true picture on your advertising and other publicrepresentations. 12-7: Can only say you “sold” the property if you participated as listingor cooperating broker 12-8: True picture applies to the internet as well, so keep your websitecurrent and accurate 12-10: Don’t use misleading URL, domain names, meta tags, keywordsor framing of other sites to mislead or manipulate others’ contentREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 16 Don’t interfere with other agent’s clients 16-4 and 5: Don’t solicit a listing that iscurrently listed, nor a buyer currently in a buyeragency agreement 16-6: You can talk to that client if they initiate thediscussion with you 16-9: Before they sign an agreement with you,ask if they are currently in an agreement for thesame serviceREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Article 17 REALTORS agree to arbitrate their money disputes arisingin real estate transactions Arbitration discussion coming up next!REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Ethics Complaint? - Who, Me?! Arises from an alleged violation of the NAR Code of Ethics Can be filed by a member of the public or a fellow REALTOR It’s NOT about moneyIt’s about BehaviorREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Ethics Discipline Options Letter of Warning Letter of Reprimand Education Fine not to exceed 15,000 Suspension for not lessthan 30 days nor more thanone year Expulsion from membershipfor one to three years Suspension or termination ofMLS Privileges Administrative processing feeof 350REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

PROFESSIONAL STANDARDSArbitrationREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Another Benefit of being a REALTOR Arbitration is great when you need it Fair, thorough, accessible process Still a good idea to resolve or avoid disputes Tips on avoiding disputes as we go alongREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Arbitration is about Money!Commission DisputesREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Don’t Litigate.Arbitrate! As REALTORS , we agree to to use arbitration to solve ourdisputes. (Article 17 of the Code of Ethics)REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

One Thing You Were Afraid to AskREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

How Could This Happen to Me?! Example of a Potential Dispute: You have a listingBuyer calls you to show them the listingBuyer returns a week later with a buyer agentBuyer agent writes an offerREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

To Arbitrate or not to Arbitrate. Talk to your Broker, only Brokers can file May reach agreements without arbitration Broker will help you prepare Generally REALTOR to REALTOR Can also be Public to REALTOR REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Questions to Ask Was there an offer of compensation? What was the offer of compensation? Who is entitled to the offer of compensation?REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Was there an Offer of Comp? You show a property before it is on the MLS You show a listing in another MLSGet it in writing!!REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

How Much is the Offer of Comp? You show a listing. You write an offer but you haven’t sent it yet.The listing agent calls to tell you the commission is 1% less. What now?REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Who is entitled to Offer of Comp? You showed it first but another agent wrote the offer. What if they are rejecting offer of compensation?REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Procuring Cause Most disputes over entitlement to offer of compensation aredetermined by ‘Procuring Cause’ Definition: The unbroken chain of events that resulted in thebuyer deciding to buy that property.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Can you say, “Gray Areas?” Procuring cause is a bit tricky No predetermined rules No one event will guarantee you get it Hearing Panel looks at entire chain of eventsREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

What are some of the factorswhich may be considered? Showing(s)There are many possibilities.MailingNo one thing guarantees it.MLS SheetAdvertisementEnhanced Open House VisitFollow-up ContactAnswering Questions/Doing ResearchREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

No one can take away the hat.But, you can drop the hat: Alienation/Estrangement AbandonmentREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

What about Buyer Agency?Does Buyer Agency affect Procuring Cause? Buyer agent writes the offer rejecting the offer ofcompensation.have they gotten around the procuringcause? Check out Standard of Practice 17-4(2) to Article 17REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Avoiding Commission Disputes Talk to your buyersListen to your buyersArrange for back-upCommunicate with other agentGet things in writingTake good notesConsult with your manager/brokerNegotiate a compromise, if necessaryREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Starting ArbitrationREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Professional Standard ProcessREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Mediation-Highly Recommended Voluntary (both sides must opt in) Mediator appointed by Association Disputing parties approve the mediator Mediator helps the parties create a resolution If no resolution reached you still receive a hearing - No RiskREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

The Decision Hearing Panel decides if the complainant is entitled to thedisputed money, based on the “Preponderance of theEvidence” Parties may request procedural review: Lack of due process If no request for procedural review, the decision of thepanel becomes finalREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Fair HousingREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Fair Housing LawIt is YOUR responsibility to know and follow all Fair Housing Lawsin the areas you serve.State and Federal Law prohibits discrimination in housing on thebasis of a person’s membership in a protected class.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

WI-Protected ClassesRaceColorFamily StatusDisabilitySexNational OriginReligionMarital StatusAncestrySource of IncomeSexual OrientationAgeStatus as a victim of DomesticAbuse, Sexual Assault, orStalkingREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Describe the Property - Notthe People Printing or publishing any statement or advertisement thatindicates a preference, limitation or discrimination based on aprotected class Always describe the features of the property and avoiddescribing the ‘prospects’ you may think would be potentialbuyers/rentersREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Disability-WI #1 Complaint The federal Fair Housing Act protects the right of people with disabilities tokeep support or companion animals, even when a condominium rule orpolicy explicitly prohibits larger pets by weight. It is unlawful for a landlord to refuse to allow a reasonable modification tothe premises when such a modification may be necessary to affordpersons with disabilities full enjoyment of the premises. Ie. Widening Doorways, adding a ramp, lowering counter heights,installing grab bars, etc.REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

NAR’s FairhavenFairhaven is a Fair Housing simulation training for REALTORS that uses the power of storytelling to help members identify,prevent, and address discriminatory practices in real estate.There is no cost to participate!Fairhaven.REALTORREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

MISSION: The Home Buyer’s Round Table of Dane County is a collaboration of housing industryrepresentatives that promote homeownership through education and counseling to low and moderate incomefamilies. We believe homeownership will increase family stability and financial security, stabilize and strengthencommunities and neighborhoods, generate jobs and stimulate economic growth.Visit us athomebuyersroundtable.orgREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

MinorityScholarshipProgramREALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800

Pop QuizREALTORS Association of South Central Wisconsin

REALTORS Association of South Central Wisconsin RASCW.Org 608-240-2800 Member Mobilization RASCW represents REALTORS in Adams, Columbia, Crawford, Dane, Dodge, Grant, Green Lake, Iowa, Juneau, Lafayette, Marquette, Richland, Sauk and Vernon counties! - that is a lot of area! There are 61 units of government in Dane County alone.