Search results for “pending”:

Robert’s Rule Reference

Robert’s Rules of Order Motions Chart
Based on Robert’s Rules of Order Newly Revised (10th Edition) 
Part 1: Main Motions. These motions are listed in order of precedence.
A motion can be introduced if it is higher on the chart than the pending motion.
PURPOSE: YOU SAY:
INTERRUPT?
2ND?
DEBATE?
AMEND?
VOTE?
Close meeting I move to adjourn
No
Yes
No
No
Majority
Take break I move to recess for …
No
Yes
No
Yes
Majority
Register complaint I rise to a question of privilege
Yes
No
No
No
None
Make follow agenda I call for the orders of the day
Yes
No
No
No
None
Lay aside temporarily I move to lay the question on the table
No
Yes
No
No
Majority
Close debate I move the previous question
No
Yes
No
No
2/3
Limit or extend debate I move that debate be limited to …
No
Yes
No
Yes
2/3
Postpone to a certain time I move to postpone the motion to …
No
Yes
Yes
Yes
Majority
Refer to committee I move to refer the motion to …
No
Yes
Yes
Yes
Majority
Modify wording of motion I move to amend the motion by …
No
Yes
Yes
Yes
Majority
Kill main motion I move that the motion be postponed indefinitely
No
Yes
Yes
No
Majority
New business before assembly I move that [or “to”] …
No
Yes
Yes
Yes
Majority

 

Part 2, Incidental Motions. No order of precedence. These motions arise incidentally and are decided immediately.
… Read on

REALTOR® Mediation

by Seth G. Weissman
Reprinted with the permission of the
Georgia Association of REALTORS®

What is mediation?

Simply put, mediation is a structured negotiation facilitated by a neutral third person called a “mediation officer.” The mediation officer assists the parties in a dispute to arrive at a mutually agreeable settlement.

The mediation officer clarifies issues while remaining dispassionate and focused. He or she guides the discussions between the parties. By providing a forum in which the parties can tell their sides of the story in a non-confrontational way, the mediation officer helps find common ground on which to resolve the dispute.

How is mediation different from arbitration?

Arbitration and mediation are both methods of resolving disputes outside the courtroom. With arbitration, however, a hearing panel plays a role similar to a judge. The procedures, while abbreviated and informal, are like those used in our judicial system.

There is an arbitration hearing (like a trial) where every party has the right to present evidence and witnesses and to cross-examine the other parties and their witnesses. The hearing panel renders a decision, called an award, based on the evidence and arguments presented. After the hearing, the parties have no control over the hearing panel’s award and are bound by its decision.

When a real estate professional becomes a member of a REALTOR® Association, he or she agrees that in exchange for the benefits of membership in the association, he or she will be bound by the duties imposed by the NAR Code of Ethics, including the duty to arbitrate.… Read on

Business Taxes

Taxes, Taxes, Taxes

Once you start your business, you will have to start paying taxes to both the federal government and the Commonwealth of Massachusetts . The specific taxes you are required to pay depend on your type of business. You should consult with your accountant for specific assistance.

Federal Identification Number

If your business is a partnership or corporation (with or without employees), or a sole proprietorship with employees, the first thing you must do is obtain a federal identification number for federal and Massachusetts tax purposes.

To obtain a federal identification number, you must file Form SS-4, Application for Employer Identification Number, with the Internal Revenue Service. This form can be downloaded from the IRS Web site at www.irs.gov , or you can have a Form SS-4 sent to you by calling the IRS at (800) 829-1040.

Businesses based in Massachusetts , Connecticut , Maine , New Hampshire , Rhode Island , Vermont , and parts of New York , may fax a completed SS-4 to the IRS at (978) 474-9774, or obtain a federal identification number over the phone by calling (978) 474-9717.

Note: Sole proprietorships without employees (other than the owner), and which are not required to file excise, alcohol, tobacco, firearms, do not need to obtain a federal employer identification number. They can use their Social Security number for business tax purposes.

State Trustee Taxes

Trustee taxes are taxes that are collected and remitted by a business on behalf of the individuals who actually pay the taxes.… Read on

Budget & Money Management

The National Association of REALTORS produces fantastic articles on every topic imaginable. Below is one article reprinted from REALTOR® Magazine Online 1/1/2005 with permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2005 . All rights reserved.

Making cents: Money and Budget Management 101

How you deal with the unpredictability of getting paid in real estate—and how you spend that money—can determine your success. 

BY HALEY M. HWANG

Remember in your old job where you just had to show up and you would get a paycheck every other week or every month? All your taxes were taken out for you and what you had left was what you could spend?

Ahh, those were the days. But now, you’re in real estate sales—and getting paid is an imprecise concept with no guarantees. There are no regular paychecks, tax withholdings, or automatic retirement savings. Yet, no one tells you when you get into the business how to effectively budget and manage your money so that you optimize your chances for success. And ultimately, how you make these budgeting decisions will impact your success in real estate, according to some real estate trainers who teach practitioners about budgeting.

Following are some of their secrets to effectively budgeting and managing your commission income—so that it catapults you to financial stability and success.

Budgeting Tips

  • Start immediately on a debt-reduction plan. Strive to have your debt be as close to zero as possible, says Terry Watson, ABR®, CRS®, president of Watson World Inc., a real estate and leadership training company in Chicago.
… Read on

Office Assistants

Unlicensed assistants are strictly limited to clerical/secretarial type duties and running errands at the direction of the licensee and/or sponsoring broker. Licensees will be held accountable for the acts of any unlicensed assistant who oversteps into licensed activities.

These guidelines are subject to change depending upon changes that occur to the law and rules. Licensees should consult with the Massachusetts Board of Registration of Broker and Salespersons to ensure that the information is current and valid.

ACTIVITIES THAT REQUIRE A REAL ESTATE LICENSE

1) Prepare Comparative Market Analysis.
2) Communicate with Attorneys.
3) Measure Houses (Certified or Licensed Individual).
4) Give Listing Presentations.
5) Communicate with Buyers and Sellers.
6) Make Cold Calls / emailing leads.
7) Check Listings to Verify Information.
8) Interview Buyers.
9) Answer Questions on Listings, or Any Item Pertaining to Transaction.
10) Submit Listings.
11) Give Out Information on Listing Properties.
12) Paid a Percentage or Share of a Commission.
13) Show Property.
14) Hang Door Hangers in Neighborhoods.
15) Relocate Families to Temporary Housing.
16) Do Personal Prospecting.
17) Communicate with For Sale By Owner.
18) Communicate with Expired Listings.
19) Coordinate Buyer Seminar.
20) Host Open Houses, Kiosks, Home Show, Booths or Fair, or Hand Out Materials.
21) Schedule Listing Appointments (with telemarketing survey asking home owners if they would like to speak with a licensee about their home).
22) Manage Rental Properties.
23) Communicate with Out-of-Towners.

ACTIVITIES THAT DO NOT REQUIRE A REAL ESTATE LICENSE

1) Design Feature Sheets at Direction of Broker.

… Read on

Underground Tanks

In reference to: Massachusetts 527 CMR 9.00 et. seq

Written by Massachusetts Association of REALTORS Attorney, Robert Kutner

Calls from REALTORS® to our office indicate that fuel oil underground storage tanks (UST) are major obstacles to closings, often complicating and sometimes even stopping home sales. Residential USTs are an issue today because of publicity and regulations. But a UST is a manageable issue. Our experience is that the probability of a residential UST leaking is very slim. Further, the cost of eliminating the UST issue by replacing it with an above ground tank is quite affordable.

Federal Regulations exempt USTs used for storing heating oil for consumptive use on the premises. Massachusetts regulations do address these tanks, and some communities have enacted more stringent rules. Massachusetts UST regulations may be summarized as follows:

  • Requirements for tanks installed after 1/1/89: Tanks under 1,100 gallons storing heating oil for consumptive use may be either fiberglass or coated steal with cathodic protection. Other tanks must be double wall composite material or double wall steel with cathodic protection, either type with constant monitoring. All tanks must have spill containment and overfill protection devices.
  • Upgrading of tanks installed before 1/1/89: Tanks over 1,100 gallons require spill containment devices before 5/30/93. All tanks require overfill prevention devices before 5/30/93. Some local communities have additional requirements dealing with testing, useful tank life, proximity to water supplies, and so on. Local fire departments are the best source of this information.

However, regulations are not usually the real problem for home buyers and sellers.… Read on

Rivers Protection Act

What is it??

The implementing regulations for the Rivers Act were promulgated in August 1997. These regulations define the requirements necessary to comply with the two-prong performance standards contained in the Rivers Act. Although the Rivers Act does not prohibit all activities within riverfront areas, the implementing regulations severely regulate such activities. As a result of the large and extremely complicated regulatory burden that must be met, a thorough understanding of the Rivers Act regulations is necessary to ensure that proposed activities within the riverfront area will be permitted with only minimal alteration or disruption.

Customers or clients with specific questions may contact legal counsel, professional engineers, and their local conservation commissions.

According to the law, the riverfront area provides the eight interests of the Wetlands Protection Act:

  1. protection of public and private water supply,
  2. protection of groundwater supply,
  3. protection of land containing shellfish,
  4. protection of wildlife habitat,
  5. flood control,
  6. storm damage prevention,
  7. prevention of pollution, and
  8. protection of fisheries.

The law also establishes the policy of the state to protect the natural integrity of rivers and to encourage and establish open space along rivers.

Where is it??

The riverfront area is a 200-foot wide corridor on each side of a perennial river or stream, measured from the mean annual high-water line of the river. However, the riverfront area is 25 feet in the following municipalities: Boston, Brockton, Cambridge, Chelsea, Everett, Fall River, Lawrence, Lowell, Malden, New Bedford, Somerville, Springfield, Winthrop, and Worcester; and in “densely developed areas,” designated by the Secretary of the Executive Office of Environmental Affairs.

… Read on

Escrow Issues

Notes from the Attorneys of the Massachusetts Association of REALTORS Legal Hotline

Q: My office recently put one of our listings under agreement and we held the deposit; however the buyer backed out at the last second, citing what he called improper repairs required under the contract. Now, the buyer is asking for their $11,000.00 deposit back, but the seller’s attorney has sent me a letter demanding that I release the deposit to the seller. The letter says that if I don’t send the funds they will sue me. Who is entitled to the deposit? Can they sue me? Do I need to file an interpleader?

A: Escrow disputes are an unfortunate byproduct of real estate transactions that do not come together. Until the end of the year 2000 brokers had been finding themselves named as defendants by buyers or sellers in escrow disputes, however this changed effective September 30, 2000 when one of the most effective tools in real estate brokerage was signed into law: An Act Prohibiting Certain Claims Against Escrow Agents.”

Under this law it is unlawful to name an escrow agent (real estate broker) as a defendant in disputes between buyers and sellers where the accepted offer or Purchase and Sale Agreement authorizes the escrow agent to continue to hold funds in the event of a dispute. Only if the agent violates his instructions is the agent able to be sued. This language is found in specific clauses in most standard real estate form contracts. For a sample of such language authorized callers can contact the MAR legal hotline at (800)370-5342.

… Read on

Contract Contingencies

Notes from the Attorneys of the Massachusetts Association of REALTORS Legal Hotline

Q. In a recent transaction, my seller client accepted an offer with a mortgage contingency anda home sale contingency. However, my seller inserted a “kick out clause” where if she received another offer without a home sale contingency, the buyer had 48 hours to remove the home sale contingency My seller received a second offer which she was willing to accept and I notified the buyer that he needed to remove the contingency. The buyer agreed to remove it, but the mortgage contingency did not expire for another seven days. It is my understanding that the buyer will not be able to get a secure commitment if they have not sold their home. Can the buyer still withdraw if they cannot get a mortgage commitment in seven days?

A. Yes, the buyers can still withdraw within seven days if they cannot meet the mortgage contingency and meet all necessary notice requirements. REALTORS® need to be careful when dealing with “kick out clauses” or home sale contingencies. There are issues which can arise when dealing with these kinds of clauses. As is often the case, the buyers will agree to remove the home sale contingency clause but the mortgage contingency clause remains, it is likely that a lender will not give a binding loan commitment to the buyers unless they sell their house first, or at least have entered into a contract with a buyer to sell their home.

… Read on