February 2024 Newsletter
February News & Announcements: Deed Fraud
Deed fraud is a serious and growing problem in Arizona. The Arizona Department of Real Estate is working hard to ensure the industry knows the red flags to best protect its clients. If you suspect deed fraud and would like to file a report, please fill out the ADRE Deed Fraud Intake Form below:
Don't Risk Your License on Games of Chance
A.R.S. 32-2153(A)(13)
Grounds for suspension or revocation. A licensee has: 13. Solicited, either directly or indirectly, prospects for the sale, lease or use of real property, cemetery property or membership camping contracts through a promotion of a speculative nature involving a game of chance or risk or through conducting lotteries or contests that are not specifically authorized under this chapter.
Holding a game of chance, game of risk, lottery, or contest is not in and of itself a violation of Title 32, Chapter 20. However, a licensee is not permitted to use information collected as a result of a game of chance, game of risk, lottery or contest to solicit - directly or indirectly - potential clients for the sale, lease or use of real property.
WARNING: There are statutes, outside of Title 32, Chapter 20 related to registering games of chance, games of risk, contests and lotteries, of which licensees should be aware. Additionally, you should ensure your activities are always approved by your broker and you may decide seeking legal counsel may also be necessary.
To learn more, read ADRE’s Frequently Asked Questions on Games of Chance below.
"For Sale" Signs Require the Seller's Consent and Must be Properly Removed
Before placing or erecting a sign giving notice that specific property is being offered for sale, lease, rent, or exchange, a salesperson or broker must secure the written authority of the property owner, and the sign must be promptly removed when authority expires, or upon request of the property owner. ARS§ 32-2153(12); A.A.C. R4-28-502(I).
Real Estate Information Technology Fund
For those of you who are not aware, The Arizona Department of Real Estate has advanced legislation (HB2633) to create a Real Estate Information Technology Fund (the “IT Fund”). If passed, the money for the IT Fund will come from increased licensing fees, meaning that real estate licensees will have to pay more for the privilege of practicing real estate.
Contrary to what is being said, The Arizona REALTORS® has never opposed this legislation and is committed to assisting the Department of Real Estate in ensuring its technology, software and equipment is functioning adequately. It’s their position that the money for the Department’s desired IT improvements by way of increased licensing fees should be the last resort, not the first.
The petition below is being circulated on behalf of the Department. If you're approached to sign the petition, please understand that there appear to be other avenues for funding the Department’s IT needs, which AAR is busy exploring. Licensees are already annually paying $400,000 to $500,000 more than what the Department of Real Estate spends each year. The Department has not investigated whether these funds can be used to at least offset the $4,400,000.00 they claim is needed. Regardless, AAR is firmly of the position that having the money come from government funds already in existence for purposes of this exact nature is the most advantageous and fiscally conservative course of action and therefore needs to be explored.
NAR Value for REALTORS®
The National Association of REALTORS® (NAR) provides substantial resources to state and local associations to provide exclusive offers and discounts for members to save on business solutions such as financial services, marketing, technology resources, etc., as well as exclusive access to insurance options and a variety of risk management tools to aid its members.
March Membership Luncheon
NAAR is welcoming Representatives from Arizona Department of Environmental Quality (ADEQ) for our March Member Luncheon to learn more about:
• Orphaned Oil & Gas Wells in Arizona including grant/funding Information
• Notice of Transfer and Inspection for On-site Wastewater Treatment Facilities
• Water Quality Assurance Revolving Fund (WQARF) Program Demographics page/disclosure Tools
As always, please remember to register online, as seats are limited.
Open to the Public: We Need Your Help!
NAAR Committees are working hard to get members of the public involved in the real estate conversation happening in Northern Arizona, especially around Fair Housing and how real estate professionals are perceived within our community. Join us by inviting the public to participate in any of the upcoming opportunities and consider attending one of the events with a friend!
Upcoming Events
Register for NAAR events directly on our website using the button below. If you’re interested in volunteering with NAAR next month, contact Community Outreach Chair, Alison Rucker at alison.rucker@wvmb.com for more information.
3/7 – March Member Luncheon
3/18 – Is Real Estate Right For Me? - PUBLIC EVENT
3/18 – Lunch 'n Learn: Building Your Business in a Tight Market
MLS Complaint Summary
January 24 - February 26
Click to view AAR Disciplinary Actions
MLS Rules and Regulations Reminder:
Member Participants and Subscribers must use an approved key, i.e., the Supra Lockboxes, in accordance with the terms and conditions specified by the Supra Keyholder Agreement (the “Supra Agreement”) or in addition to these additional policies. Any violation of a rule contained in this entire Section 2, excluding Section 2 G 3 and 2 G 5, is a Category II violation as described in Section 9.4.3 and carries a fine. Any violation of Section 2 G 3 and 2 G 5 is a Category IV violation as described in Section 9.4.4 and carries a fine.
If you sellers have stated they do not wish to have a lockbox on the property please send us the part of the contract that states such.
Note: Violation fines collected by NAAR are used to fund community support activities. NAAR does not benefit from MLS fines and would like to see the number of fines reduced!
Please take a moment to review our NAAR MLS Rules and Regulations HERE and our NAAR Penalty Policy HERE.
