D.R. Legal News

Current Issue: March 2010

License Law Rewrite: Implications for Managing Brokers
IAR Chief Legal Counsel Steve Bochenek addresses some of the changes in the Real Estate License Act Rewrite that will be important to you from a managing broker or sponsoring broker perspective including notice of designated agency, office policy, contemporaneous offers and new forms. Read more >

New License Categories and Transition Rules
The change of license categories from “salesperson” and “broker” to “broker” and “managing broker” and the transition rules related to that change seem to be attracting most of the attention and questions and we cover that in this article; however, those changes are not effective until 2011. Read more >

Good Funds
The “good funds” legislation (Illinois Public Act 096-0645) which took effect Jan. 1 will not have a direct impact upon IAR members while there may be some tangential effect. The primary impact for members of IAR will be if you have a real estate closing that occurs with a title insurance company, title insurance agent or independent escrowee acting as closing agent. Read more >

Pumping Up the Agent Psyche
Real estate coaches Dirk Zeller, Walter Sanford and Joeann Fossland offer tips to motivate agents working in the trenches who are dealing with some pretty sad stories from clients related to forced sales from job loss, foreclosure, divorce and bankruptcy on top of the challenging nature of pricing and financing in this market. Read more >

Profile of Illinois Home Buyers and Sellers
More than half of homebuyers surveyed in the 2009 Profile of Illinois Home Buyers and Sellers were first-time buyers, due in large part to the first-time homebuyer tax credit stimulus and increased affordability in home prices in the last year. Read more >

D.R. Legal News Online Only in 2010
Starting with the March 2010 issue, the former print D.R. Exclusive Newsletter has been renamed D.R. Legal News and will be published online only in a downloadable PDF format that is e-mailed to all IAR members who are the Designated REALTOR® (or D.R.) for their real estate office. Be sure to watch and open all e-mail from “IAR Communications” or the "Illinois Association of REALTORS."

The D.R. Legal News is e-mailed quarterly (March, June, September, December) to the Designated REALTOR® member of the Illinois Association of REALTORS®. For reprint permission, contact iarnews@iar.org.

Breakout Text:

Current Issue: March 2010
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