Massachusetts Data Security Regulations WISP
Mass. Data Security Regulations, effective March 1, 2010
For further information on this issue, please see the following links directly to the Mass.gov materail prepared to help you create office policy and comply with the regs:
Frequently Asked Questions:
Sample Small Business Policy:
Compliance Checklist:
Requirements for Security Breach Notification:
Data Security Regulations:
Personal information: a Massachusetts resident’s first name and last name or first initial and
last name in combination with any one or more of the following data elements that relate to
such resident: (a) Social Security number; (b) driver’s license number or state -issued
identification card number; or (c) financial account number, or credit or debit card number,
with or without any required security code, access code, personal identification number or
password, that would permit access to a resident’s financial account; provided, however, that
“Personal information” shall not include information that is lawfully obtained from publicly
available information, or from federal, state or local government records lawfully made
available to the general public.
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Massachusetts has joined the majority of states in enacting a comprehensive data security law which governs theway personal information must be protected. After several delays the Massachusetts Office of Consumer Affairs has issued the final regulations to address the issue which become effective on March 1, 2010. Unlike previous draft versions of the regulations, the final regulations use a risk-based approach that directs businesses to establish a written comprehensive information security program (“WISP”) based on their size, scope and available resources. The final version of the regulations were changed as a result of input from MAR and other groups.… Read on
Our Valentine to Berkshire REALTORS
Lead Paint Property Transfer & Rental Requirements
Notes from our State Legal Team
There has been a debate amongst Berkshire members about the obligations of proper handling of the Lead Paint Property Transfer Form. Everyone agrees that the seller’s agent must give the LPPT form before the signing of a purchase and sale agreement. Buyer’s agents are accepting the form, but many are not then providing the Listing Agent with a copy of the signed document. Their argument is that the seller’s agent has an obligation to present the form – period – but do not have a legal mandate to get a signed copy returned to them.
Answer: In my opinion, the listing agent is absolutely entitled to an executed copy of the certification form. They are the source of the information and are required to provide it and ensure the information is received. Due to the exclusive representation arrangement with a buyer agent, they must rely on that agent for any additional explanation but should be entitled to an executed copy. If one is not provided or refused to be provided I would recommend the listing broker attach an addendum to the P&S stating the information was provided timely and correctly to avoid any liability. This being said; I also think, from a fiduciary requirement, the buyer agent should retain a copy of the executed document as well.
In our MLS agents can open, view and print additional documents attached to the listing data. These attachments can be (1) Signature page of the Lead Paint Form (2) Seller’s Description of Property (3) Notification of Right to Farm (4) Plot plans or assessor cards, etchttp://www.berkshirerealtors.org … Read on
New Years Resolutions for Real Estate
Notes from the Desk of…
MLS Issues from the NAR Conference
Market Updates from the NAR Conference
Important Update from Flexmls- Make sure your browsers are up to date!
Robert’s Rule Reference
Based on Robert’s Rules of Order Newly Revised (10th Edition)
PURPOSE: | YOU SAY: |
INTERRUPT?
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2ND?
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DEBATE?
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AMEND?
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VOTE?
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Close meeting | I move to adjourn |
No
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Yes
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No
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No
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Majority
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Take break | I move to recess for … |
No
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Yes
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No
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Yes
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Majority
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Register complaint | I rise to a question of privilege |
Yes
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No
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No
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No
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None
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Make follow agenda | I call for the orders of the day |
Yes
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No
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No
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No
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None
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Lay aside temporarily | I move to lay the question on the table |
No
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Yes
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No
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No
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Majority
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Close debate | I move the previous question |
No
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Yes
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No
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No
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2/3
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Limit or extend debate | I move that debate be limited to … |
No
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Yes
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No
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Yes
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2/3
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Postpone to a certain time | I move to postpone the motion to … |
No
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Yes
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Yes
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Yes
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Majority
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Refer to committee | I move to refer the motion to … |
No
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Yes
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Yes
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Yes
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Majority
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Modify wording of motion | I move to amend the motion by … |
No
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Yes
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Yes
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Yes
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Majority
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Kill main motion | I move that the motion be postponed indefinitely |
No
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Yes
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Yes
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No
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Majority
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New business before assembly | I move that [or “to”] … |
No
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Yes
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Yes
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Yes
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Majority
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Share only YOUR OWN listings
Seriously, Under Agreement??
Current Status of Residential Listings Entered in 2013
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
MAR Housing Data and Customizable Reports!
Gas Pipeline, What REALTORS Need to Know (and Do)
MLS Report from the Board of Directors July 2014
Report from the Boards of Directors July 2014
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.
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.