REAL ACADEMY

From realacademy.org, a program of the Metropolitan Indianapolis Board of REALTORS®, MIBOR:

About REAL
Members take a ten-month journey which consists of a one-day per month seminar devoted to specific topics. The seminars are fast-paced featuring stimulating lectures, site visits and experiential learning sessions. Session topics include: identifying leadership types; developing leadership skills; studying professional standards and ethics in business; the impact of government on communities and local economies, education, quality of life and housing and neighborhoods. Classes are conducted in classroom style and combined in most cases with field trips.

Goals of the Program

• To learn leadership traits and qualities;
• To develop insight into national, regional, and local issues and trends that affect the real estate industry;
• To develop an understanding of our communities and make correlations to the real estate industry; and
• To formulate opinions on the role of MIBOR

PRACTICING FULL DISCLOSURE

NOTE:

876 IAC 1-1-37 Disclosure of interest by licensee
Authority: IC 25-34.1-2-5
Affected: IC 25-34.1-2-5
Sec. 37. A licensee shall not directly or indirectly buy, offer to buy, sell, offer to sell or receive compensation for property in which he owns an interest, unless he shall disclose in writing his interest to all parties to the transaction and the fact that he holds a valid real estate license. (Indiana Real Estate Commission; Rule 38; filed Sep 28, 1977, 4:30 pm: Rules and Regs. 1978, p. 803; filed Dec 11, 1986, 10:40 am: 10 IR 879; readopted filed Jun 29, 2001, 9:56 a.m.: 24 IR 3824; readopted filed Jul 19, 2007, 12:57 p.m.: 20070808-IR-876070067RFA)

While the Indiana Real Estate Commission Laws and Regulations do not specifically state that an agent who owns property must use the words "Agent Owned" on the "For Sale By Owner" sign in the yard, it is my belief that some reasonably apparent reference to the agent's ownership interest must be provided on the signage. I do not believe that a consumer ought to rely on the agent's willingness to share that information at the first in-person contact.

And I'm not a lawyer. Take my opinions as such, please.

HOW MUCH PER SQUARE FOOT?

WHO HAS THE UPPER HAND IN NEGOTIATIONS?

What's Your Interest Rate?