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NC REALTORS® COVID-19 STATUS UPDATES

In light of the current situation, it is important that we provide you with updates on the goings-on in the state’s real estate industry. So, we created the STATUS UPDATE page that we will launch every time we feel that it is necessary to get you important information.

Dotloop is altering its privacy policy, and you may need to take action

Dotloop recently announced changes to their Privacy Policy which becomes effective on July 17, 2020. The changes created “Affiliate Sharing” allowing Dotloop to share information provided to them on or after January 1, 2016, with Zillow Group and its subsidiaries.

COVID-19 Q&A

Answers to questions from members across the state regarding the COVID-19 pandemic.

Data security laws and keeping copies of client checks

QUESTION: Our office has been in discussion about making and retaining copies of Due Diligence and Earnest Money Checks from our clients. We are concerned with the laws on keeping the personal information of clients and customers in a secure manner. Is it required that we keep copies of the checks? Any thoughts or direction…

NC REALTORS® launches new website and database

Get ready for an improved member experience, easier and faster online access to exclusive member benefits and services, and real estate-related information and resources for the public.

New Demands for the New Normal

After the COVID-19 pandemic and months of social distancing, there’s a heightened interest in real estate amenities and sources of community.

Legal Hotline

Don’t waste your time stressing over forms, disclosure or landlord/tenant law. NC REALTORS® have free, unlimited access to the NC REALTORS® Legal Hotline.

Who pays owner association “transfer fees?”

QUESTION: I’m representing a buyer who is closing on a property that has an owner’s association.  I am trying to figure out who is responsible for the payment of a “transfer fee” that’s being charged by the association’s management company.  I’ve reviewed the Offer to Purchase and Contract (form 2-T) and I don’t see any…

Brokering a Business Opportunity

Q: A prospective client has approached me about selling his restaurant. It would involve subletting the real property as well as selling the business and related equipment  outright. I have never dealt with anything quite like this before. Do I need a special license to broker the business opportunity? A: No. There is no "business…

Who’s Your Coach? Building a Better Bottom Line Through Real Estate Coaching

Think bigger and go beyond by hiring a real estate coach.

Who signs the listing agreement on “estate” property?

QUESTION: I am taking a listing on property where the owner, Jack Smith, recently died.  He is survived by his four children.  Two of them have are acting as executors of the estate.  One of them told me that Jack left the property equally to the four kids.  I need to know how to list…

Agent’s duty to disclose a short sale situation

QUESTION: I have a wealthy client who recently asked me to list a residential property for sale. He purchased the property as an investment many years ago. Although the market where the home is located has substantially recovered, this particular property is still under water, i.e. it is worth less than the current mortgage balance.…

Land of the Sky Association of REALTORS® Dispels Common Misconceptions About Short Term Rentals Through Data-Driven Public Awareness Campaign

This board serving three counties in western North Carolina is educating consumers on the key findings from recent studies that demonstrate not only the economic benefit of STRs within a community, but also that STRs are not to blame for housing shortages and affordability issues.

Should a buyer be concerned about unpermitted improvements?

QUESTION: My buyer likes a home that has a significant amount of unpermitted improvements in the basement. He wants to make an offer, but first he needs to know if, on resale, the unpermitted space can be included in the total heated square footage. Can you help me answer this question? ANSWER: According to guidance…

How should agents’ agreements to reduce their commissions be documented?

QUESTION: As BIC of my firm, I was recently reviewing the paperwork on a closed transaction where our firm acted as a dual agent, and I noticed a discrepancy between the commissions paid at closing and the commissions set forth in the listing agreement. The amounts paid at closing to our firm on both the…

Is the builder considered the procuring cause if my buyer answers a question on the builder’s website?

QUESTION: A builder in our MLS has a website with a drop-down menu that asks potential buyers, “How did you hear about us?” None of the options include “broker” or “REALTOR®.” Every time one of my buyers visits the website and answers the question, the builder will refuse to pay the cooperating commission in the…

NAR Lawsuits Resource Center

We understand that this litigation has raised questions and concerns about its potential impact on our real estate practices here in North Carolina. We want to provide you with clarity on these matters.

Soliciting future business of another REALTOR®’s client

QUESTION: A developer/builder in our market has all its listings with another firm in town. One of my agents would like to solicit the company's future business. Would there be a problem with him dropping off some marketing material for the owner's review and saying that he wants to be considered for the company's future…

National Women’s History Month Spotlight: Lisa York

Lisa York, today’s NC REALTOR® Women in History spotlighted member, is proud to volunteer her time and leadership with NC REALTORS® while she juggles a career as a REALTOR® and an Auctioneer.

Can a court-appointed guardian sell real property?

QUESTION: I’ve been asked by someone who is acting as her mother’s guardian to list and seller the property where her mother used to live before she was moved into a skilled care facility.  The daughter has provided me a copy of a court paper appointing her as her mother’s general guardian.  It says among…

What are the rights and duties of an owner of land that has graves located on it?

QUESTION: I have a buyer client who is very interested in purchasing a small tract of land, but there’s a hitch: the property has a small graveyard located on it, fifteen headstones located in a corner of the property reasonably close to the main road. I don’t think the location of the graves would affect…

Update on DOJ Statement of Interest in MLS PIN litigation (2/16/24)

On February 15, the Department of Justice (DOJ) filed a Statement of Interest in the Nosalek v. MLS PIN, et al., which is a lawsuit challenging the rule and practice of cooperative compensation between listing and buyer brokers.

Can my friend loan money to a buyer to complete a purchase?

QUESTION: I am sometimes involved in potential real estate transactions as either a listing agent or a buyer agent where it’s unlikely that the buyer will be able to obtain bank financing necessary to purchase the property. I have an old friend I call on from time to time who makes small loans to buyers…