What an amazing tool!
"This summer the leadership from five Associations in the region- Dulles, Fredericksburg, Greater Piedmont, Northern Virginia and the Prince William met to address the ethical issues that are a result of the short sales environment. The Presidents and Association Executives and other Leadership, now called the Ethics Dialogue Group, saw the value in a group approach to solving challenges facing their members.
The overall mission is "To have a unified approach in creating a culture in the market place where ethical means professional." In an effort to ethically navigate through short sales the Group has produced the Regional Short Sales Reference Guide. Each Association is distributing the Guide to its members via email. Go to www.ethicsdialoguegroup.com where the document can be downloaded. The Guide itself and the Appendixes are separate attachments. There is also the Short Sale Ethics checklist that links the most common short sale situations with the Article of the Code.
The Guide is an easy read with many helpful comments. The topics cover pricing the short sale, MRIS status issues, confidentially and other areas that span the short sale process.
For example, did you realize that the MRIS rule in Section 6 has changed?
References to special compensation in any other field, other than the compensation fields are not intended to, or shall be construed to, permit any conflict with the unconditional offer of cooperation and compensation made in the compensation field(s). If there is any conflict between the unconditional offer made in the compensation field(s) and any other field, MRIS policy is that the information in the compensation field will control.
The Appendixes of the Guide list useful documents on short sales for those using the regional forms. Also included are documents generated by the Virginia and National Association of REALTORS® plus VAR's new short sale forms.
The Ethics Dialogue Group thanks the Virginia Association of REALTORS® and MRIS for participating in the discussion. As a result of the meetings, VAR orchestrated Lem Marshall's Short Sale Summit statewide tour for brokers, mailed an information postcard on the topic written by Lem and applied for and received a NAR grant to put on a loss mitigation course in 2010. The course will be offered through local Association real estate schools. MRIS listened to the input and held a MRIS Compliance and Legal Summit of Association leaders to discuss short sales and social media issues.
The regional Ethics Dialogue Group pledges to continue their effort monitoring the market for issues that challenge the practitioner from a business and ethical standpoint.
Thank you and enjoy the FREE Guide and the companion materials sponsored by your Association.
A comment form is provide at the website.
From the regional Ethics Dialogue Group,
Dulles Area Association of REALTORS®
Fredericksburg Area Association of REALTORS®
Greater Piedmont Area Association of REALTORS®
Northern Virginia Association of REALTORS®
Prince William Area Association of REALTORS®
Sincerely,
Sherry Bailey, GRI
President
Pat Breme, RCE, CIPS
Chief Executive Officer"
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