PROFESSIONAL STANDARDS UPDATE
It's been a year since NABOR implemented Professional Standards, relating to violations of the MLS rules and violations of membership duty, in our local board. Alleged violations of the Code of Ethics are still processed under our cooperative agreement with the Arkansas REALTORS® Association.
During the first year, we collected fines in the total amount of $24,550. Those funds are earmarked for member education, as decided by the Board of Directors at their regular monthly meeting in November 2017. We are currently looking into bringing a national speaker to our association before the end of this year. The speaker fee will be covered by the fines, making this a free event for our members.
We've prepared a
summary of notices sent, fines paid and hearings requested since implementation. It is worth noting that a large percentage of the violations were cured within the "grace period" and no fines were issued in those instances. There were no violations issued in April, May, or June as the Board of Directors voted to temporarily suspend violation notices during that time period.
Please note that the temporary suspension will be lifted at the close of business on July 31st.
All data changes that happened since April 3rd MUST be in Matrix by the close of business on July 31st.
