Search results for “pending”:

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

Right to Farm Communities

Below is a list of Berkshire towns that have adopted the Right to Farm bylaws that require a home seller to inform a home buyer that the community allows farming (Not the actual property!! That’s a different set of laws).  The disclosure is intended to alert residents that farming activities may create noises, smells and dust (and slow traffic) but those are not legal nuisances.  The tricky part is that each town bylaw is different… Yay, independent government! We reached out to many towns and received their information on acceptance of our sample form and where and how to send it.  The city/towns of Lanesboro, Hinsdale, North Adams and Pittsfield do not require a written disclosure notification to be filed.   Town Mailing/Email list in PDF format and the Right to Farm Standard form

 

Sample Disclosure Form:   (pdf format)
Note: Some towns may not accept this generic form – you must contact the city / town to inquire about the proper form for disclosure notification, if required at all. This form is simply to assist you for the towns that don’t have a form and allow you to draft your own.

In the meantime, here is sample disclosure language:

“It is the policy of this community to conserve, protect and encourage the maintenance and improvement of agricultural land for the production of food, and other agricultural products, and also for its natural and ecological value. This disclosure notification is to inform buyers or occupants that the property they are about to acquire or occupy lies within a town where farming activities occur.

… Read on

2014 & 2022 President Mark McIlquham

Mark McIlquham
2022 President Berkshire County Board of REALTORS®, Inc.

Realty Street, Co-Owner
484 W Housatonic St, Dalton, MA 01226
(413) 684-4000

Mark was elected by Berkshire County real estate brokers to serve as the 2010 President of the Multiple Listing Service corporation, elected to serve as President of the Board of REALTORS in 2014 and has fulfilled roles in local and state leadership since.  He was honored with the coveted 2011 REALTOR of they YEAR award for his service to the industry and returned to the Board of Directors in 2022.  He was subsequently elected the 2022 President. 

Over the course of many years, Mark worked tirelessly on the REALTOR issues and behind the scenes, was involved on critical committees that were charged with strengthening the association at all levels. His leadership includes service on the Realtor Board of Directors, as well as Contract & Forms, Finance, Investment, Personnel, and Professional Standards Committees.

Mark has held his real estate salesman’s license since 1989, and obtained his certified buyers representative (CBR) certification and his broker’s license in August 2003. Mark is a full time Realtor who has been a consistent top sales producer in Berkshire County for the past 12 years. He specializes in residential, commercial real estate, relocation services and investment properties.

Mark McIlquham is co-owner of Realty Street and has lived in Berkshire County for over thirty-seven years. He attended local elementary and high schools, and graduated from the University of Massachusetts at Dartmouth, (formerly Southeastern Massachusetts University) in 1990 with a bachelors degree in marketing.… Read on

MA Continuing Education FAQ

The Massachusetts Board of Registration of Real Estate Brokers requires twelve hours of continuing education credits (CEU) every 2 years to maintain an active license. There is no exam for CEU courses. The new curriculum consists of many two-hour modules. Materials provided as part of the curriculum should only be used for study purposes and should not be disseminated to the general public. Nothing in this curriculum supersedes any state or federal laws or regulations. Classes must be offered by a Massachusetts Certified School, by a Massachusetts Licensed Instructor (along with a specialist, if applicable) in a certified school location approved by the Board of Registration, or online with certification. If you do not take the required courses, you may renew your license as inactive so that you can easily reactive the license and/or accept referral fees.  You may not practice real estate sale or lease with an inactive license.

Continuing Education FAQ

 What courses are offered for license renewal?

The Board offers a wide array of programs for your license renewal, updated and amended from time to time: https://www.mass.gov/service-details/real-estate-continuing-education-course-listings

Are brokers and salespersons required to complete continuing education?

Chapter 369 of the Acts of 1996 establishes twelve hours of continuing education in different subjects that are contained in a curriculum developed by the licensing board. The twelve hour requirement is for each license term (a license is good for two years). However, the Board does not begin verifying compliance with the continuing education requirement until January 1, 1999. At that time it will use the license renewal application to obtain verification from brokers and salespersons showing completion of continuing education.… Read on

Pathways to Professionalism

Pathways to Professionalism
[free, full color marketing brochure]

While the Code of Ethics establishes enforceable, ethical standards governing the professional conduct of REALTORS®, the following list of courtesies is a voluntary commitment. For real estate professionals, it’s the little things count the most when making a good impression on clients and business associations.

I. Respect for the Public

  1. Always follow the “Golden Rule” – Do undo others, as you would have done to you.
  2. When working with clients or customers, take care not to abandon them by taking frequent or in-depth cell phone calls.
  3. Respond promptly to all inquiries and requests for information. Have backup coverage to assist when you are unavailable.
  4. Communicate with all parties in a timely fashion.
  5. Enter listed property first to ensure that unexpected situations (such as pets) are handled appropriately.
  6. Never criticize a property in front of the owner.
  7. It is far better to say “I don’t know, but will find out” than to make statements that you will have to correct later.
  8. Always source your statements if your knowledge is a result of another’s comments or representations.
  9. Present a professional appearance at all times; dress appropriately and have a clean car.
  10. Communicate clearly; don’t use jargon not readily understood by the general public.
  11. Be aware of and respect cultural differences. Make an effort to understand diversity issues.
  12. Show courtesy and respect to the public.
  13. Be aware of and meet all deadlines.
  14. Promise only what you can deliver and keep your promises.
  15. Explain all contracts, forms and disclosures clearly and encourage clients to ask questions on any item that is not completely understood.
… Read on

Monthly Market Summary Report

Most Recent Report: 1stQuarterMarketWatch2015

2014 YearEnd Market Watch

2014 Jan-May Sales Interim Report (PDF)

Sales Update June 2014

2013

2012

2011:

 

 

[bib category_slug=’market-info’ num=10]