Osceola ReVIEW - August 2008 - (Page 13) Answers. Continued from Page 12. Standards Committee. The Professional Standards Committee appoints a hearing panel (usually three or five members of the Committee) to conduct a hearing. The hearing is a “due process” hearing similar to a court proceeding. The hearing panel decides whether a violation of the Code occurred and makes a recommen(Discounted Rates for OSCAR Members) (Discounted Rates for OSCAR Members) dation for discipline, if any. In an arbitration request, FAST •• ACCURATE• FRIENDLY FAST ACCURATE • FRIENDLY the hearing panel decides which party is entitled to the ASK ABOUTaward. In either case, a right of appeal or remonetary OUR ASK ABOUTOUR AGLE NO TENT” TERMITEBoard of Directors. EAGLE NO view exists to the SERVICE TENT” TERMITE SERVICE ermit mite Termite Inspections ermit mite Termite Inspections & Treatments Tr &Tr eatments Tr ker involved in a transaction may claim to have sold the property in the transaction. The only time limitation in the Standard of Practice relates to the cooperating broker posting a “sold” sign before closing. After closing, permission of the listing broker is not necessary for a cooperating broker to post the “sold” sign. 13.A written apology. The Code of Ethics and Arbitration Manual lists the appropriate sanctions that a hearing panel may recommend to discipline a REALTOR® who has violated the Code of Ethics. Only those authorized sanctions are permissible. All of the disciplinary actions noted above other than the written apology are on the list of authorized sanctions. An apology of any sort cannot be mandated by a hearing panel or association. ■ Generally, a request 407-5 18-0875 7-51 8-0875 407-518-0875for mandatory arbitration is based 407-5 •8-0875 7-51Kissimmee, FL 34741 407-5monetary dispute. The dispute must be of a conon a 09 Church Street 409 Church Street • Kissimmee, FL 34741 A monetary dispute between GLE7. PestinManagement AGLEPest Management REALTORS® (principals) different firms. tractual or specific non-contractual nature, and it must be between REALTORS® (principals) in different firms arising out of their relationship as REALTORS®. Article 17 specified the types of disputes that are required to be arbitrated. la compañía hispana de compañía hispana de ® ® 8. A cooperative (selling) commission. The most common type of monetary dispute between REALTORS® (principals) in different firms relates to a cooperative (selling) commission, sometimes also knows as a co-brokerage commission. In the residential field, the offer of compensation is most commonly made by a listing broker in the context of filing listings with the MLS. In the commercial field, offers of compensation are often made directly among brokers in a market. 9. No predetermined rules of entitlement are allowed to be used by a hearing panel. The concept of procuring cause is the basis upon which the typical commission dispute about a cooperative commission is decided. The “Arbitration Guidelines” in the Code of Ethics and Arbitration Manual (Appendix ll to Part 10) set out a comprehensive set of guidelines by which hearing panels decide a commission dispute. All of the concepts are from the “Arbitration Guidelines.” 10.Honestly. Article 1 of the Code sets out these fiduciary concepts. The obligation to protect and promote the client’s interests is balanced by the obligation to treat all parties honestly. 11.May not assume that the listing broker will pay him/her a cooperative commission. Article 3 clearly states, “The obligation to cooperate does not include the obligation to share commissions, fees, or to otherwise compensate another broker.” The cooperating broker must ascertain the terms of compensation, if any, before beginning efforts to cooperate. 12.Both A and B. According to the Standard of Practice 12-7, “Only REALTORS® who participated in the transaction as the listing broker or cooperating broker (selling broker) may claim to have ‘sold’ the property. Prior to closing, a cooperating broker may post a ‘sold’ sign only with the consent of the listing broker.” Thus, a cooperating bro- “REALZAN EL PROCESO DE LA TRANSACCIÓN EL PROCESO DE LA TRANSACCIÓN DE BIENES RAICES” DE BIENES RAICES” 1201 Emmett Street ••Kissimmee, FL 34741 Emmett Street Kissimmee, FL 34741 407-931-1343 phone ••407-931-1415 fax 407-931-1343 phone 407-931-1415 fax OUT Arbor Ridge ® The home your clients want. Built just the way they want it. OUT ® Built to Order™ is built around your clients. Their individual style. Their way of life. And, most of all, their budget. 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Table of Contents Feed for the Digital Edition of Osceola ReVIEW - August 2008 Osceola ReVIEW - August 2008 President's Perspective CEO Perspective Education Corner Association Staff Knowledge Services News Association Newsmakers Association Leadership Welcome New Members New Affiliate Offices Osceola ReVIEW - August 2008 Osceola ReVIEW - August 2008 - Osceola ReVIEW - August 2008 (Page 1) Osceola ReVIEW - August 2008 - Osceola ReVIEW - August 2008 (Page 2) Osceola ReVIEW - August 2008 - President's Perspective (Page 3) Osceola ReVIEW - August 2008 - CEO Perspective (Page 4) Osceola ReVIEW - August 2008 - Education Corner (Page 5) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 6) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 7) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 8) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 9) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 10) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 11) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 12) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 13) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 14) Osceola ReVIEW - August 2008 - Knowledge Services News (Page 15) Osceola ReVIEW - August 2008 - New Affiliate Offices (Page 16)
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