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Hello RACI,

HIGHLIGHTS

• Seeking candidates for Wabash Director opening
• NAR Legislative Meetings start Sunday, catch the live streaming
• Updated FAQs on facts.realtor - what does it mean to be “working with” a buyer? 

Real Estate News

May 2024 REALTORS® Legislative Meetings Live Streams

Sunday, May 5

8:30 - 9:30 am: Federal Legislative & Political Forum (Maura Neill)

9:45 - 10:45 am: New Tools for Tomorrow's Business—Today!

11:00 am - 12:00 pm: Signed Buyer Representation Agreement: Using AI (Marki Lemons Ryhal)

4:30 - 5:30 pm: The Advocacy Scoop

Monday, May 6

10:00 - 11:00 am: Adapting to the Changing Real Estate Landscape: How to Navigate Compensation Conversations with Compliance and Integrity

Tuesday. May 7

9:15 - 10:15 am: Making NAR Data Work for You

Thursday, May 9

8:30 am - 1:00 pm: Board of Directors

Community Outreach REALTOR® Volunteer Days: 🗓️ Look for details to join events in your county coming soon - June 1-9, 2024

NAR Settlement FAQs - updated Apr 26

NAR received preliminary approval of the settlement on April 24, but it is still subject to final court approval. The final approval hearing is scheduled for November 26, 2024

Practice Changes

Written Agreements (latest questions are listed as questions 46 through 62 in FAQ)

46. The practice change requiring written agreements with buyers is triggered by two conditions: it only applies to MLS participants “working with” buyers and is triggered by “touring a home.” What does it mean to be “working with” a buyer?

• The “working with” language is intended to distinguish MLS participants who provide brokerage services to a buyer — such as identifying potential properties, arranging for the buyer to tour a property, performing or facilitating negotiations on behalf of the buyer, presenting offers by the buyer, or other services for the buyer —from MLS participants who simply market their services or just talk to a buyer — like at an open house or by providing an unrepresented buyer access to a house they have listed.
• If the MLS participant is working only as an agent or subagent of the seller, then the participant is not “working with the buyer.” In that scenario, an agreement is not required because the participant is performing work for the seller and not the buyer.
• Authorized dual agents, on the other hand, work with the buyer (and the seller).

62. Should active listing agreements entered into before the MLS policy change be amended to address the settlement agreement’s prohibition on offers of compensation being communicated on the MLS?

• If the listing agreement instructs the listing broker to make an offer of compensation without reference to the MLS, no change to the listing agreement is needed, as the listing broker can comply with that instruction without violating the MLS policy change.

NOTE: Indiana REALTOR® Transaction forms do not require an update to listing agreement.

• But if the listing agreement specifies that offers of compensation be made “on the MLS,” then the listing broker should work with the seller to amend the listing agreement before the MLS policy change is implemented, to make it clear the listing broker will not make an offer of compensation on the MLS and will not be violating the listing agreement by failing to make an offer of compensation on the MLS.

Exciting news - the RACI Board of Directors is currently accepting applications to fill the Wabash County Director opening for a term ending December 2024. This is a unique chance to make a difference in your community and actively shape the direction of our Association.

Upcoming Events Calendar - Save these Dates!

Community Outreach: 🗓️ Look for details to join REALTOR® Volunteer Days events in your county coming soon - June 1-9, 2024

Social Activites: 🗓️ Save the date for our annual REALTOR® Night at the Jackrabbits vs. Kenosha Kingfish ⚾ - Friday, July 19 @ 7:05pm

RPAC Fundraising: 🗓️ Save these dates for our annual RPAC Auctions - Wabash - September 18 and Kokomo - September 24

Programs: 🗓️ Annual Meeting with Marki Lemons - Wednesday, October 9

Social Activites: 🗓️ Spirit of Giving Holiday Parties - First week of December!

Welcome new REALTOR® members Brooks Davis with Moving Real Estate and Jenny Lewellen with Apple Tree Realty. Welcome new Affiliate member Oak Hill Millworks - Christy Miller.

Interested in supporting RACI members? Let us know: click here!

2024 Affiliate Portfolio & Sponsor Opportunities out Now!

RACI offers customized event sponsorships that help you meet your business goals.

Login here or create your Member account login here

WEDNESDAY, MAY 1 - MONTHLY MLS TECHNOLOGY FEE INVOICING

MLS technology fee was be invoiced Wednesday, May 1, due Saturday, May 25.

'24 REALTORS® Association of Central Indiana Partners - investing in RACI Members!

Click here to connect with RACI Partner Community First Bank

RACI 2024 CLOSURE SCHEDULE

January 1 – New Year’s holiday

January 15 – Martin Luther King Jr. Day

March 29 - Good Friday - Closed at Noon

May 27 - Memorial Day

July 4 - Independence Day

September 2 - Labor Day 

November 28 & 29 - Thanksgiving 

December 25 & 26 - Christmas

Copyright ©2024 REALTORS® Association of Central Indiana, all rights reserved.

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