Short sales, social media among NAR policy changes

At their meeting Saturday, NAR’s Board of Directors clarified: rules about online comments concerning other Realtors; the timing of a cooperative compensation acceptance; contract status when a brokerage relationship is terminated; the status of land brokerage as a specialty; and MLS policy changes regarding short sale listings, compensation and definitions. NAR’s Board also voted to support appraisal management companies, oppose arbitration and other pre-litigation dispute resolution methods, and support legislation reinstating assumable loans by eliminating the “due on sale” clause for new and existing FHA and VA loans. More info is available on NAR’s Web site (password required.) (http://www.realtor.org/inis.nsf/pages/SpecialINS05162009?OpenDocument&Login)

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