Day three of the Illinois Association of REALTORS Fall Conference & Expo began with the Legal Issues Update featuring IAR legal counsel Steve Bochenek and Laurie Janik, general counsel for the National Association of REALTORS.
Janik pointed to a risk reduction tool developed by NAR Legal Affairs explaining how brokers and agents should properly disclose flood insurance requirementsand reduce the risk of claims of misrepresentation.
- Video: http://www.realtor.org/
- Toolkit: http://www.realtor.org/topics/
Fair housing remains a topic for top-of-mind awareness for agents and brokers. Janik highlighted recent testing in threecities with established Hispanic markets. Although the cities picked were not in Illinois there are many areas in Chicago that could have been picked.
Pocket listings are on the rise and while there have been no legal cases yet, agents and brokers must be aware of potential antitrust and fair housing problems.
Among the issues highlighted by Steve Bohenick are on the topic of social media, Cook Count Section 8, and Community Association management Licensing, concealed carry and hands-free rules effective Jan. 1, 2014 in Illinois. Here are resources IAR members have access to:
- Section 8 Q&A: http://www.
- Social media: http://www.
- IAR Legal Webinars (member login required): http://www.
- IAR Risk Management Toolkit (member login required): http://www.