D.R. Legal News

DR Legal News

November 2016

New Overtime Rules to Take Effect on December 1 — Or Will They?

By now, I am sure you have read that on May 23, 2016, the U.S. Department of Labor promulgated a new administrative rule which will serve to dramatically increase the number of employees eligible to receive overtime compensation effective on December 1, 2016. Recently, however, two lawsuits have been filed in the United States District Court for the Eastern District of Texas, the filers of which hope to stop the new overtime rules before the rules become effective. While most relationships in the real estate brokerage industry are independent contractor in nature, many larger brokerages directly employ office staff to perform various administrative duties. We, therefore, thought providing you with an overview of the new rules and sketch of these efforts to stop the implementation of the rules could be of interest to you. Read more.

6 Legal Case Studies

  1. Photographer and licensed real estate broker did not have standing to sue another MLS member for copyright infringement.  
  2. Injured plaintiff failed to establish causation in negligence suit against apartment building owner and manager.  
  3. Father’s inclusion of daughter in contract for deed did not constitute a gift of land.  
  4. Leasing agent had no duty to investigate whether landlord had valid rental permit.  
  5. Brokers allowed to keep commissions after tenants terminated lease before taking possession.  
  6. Broker’s “puffery” about connections with alderman did not constitute fraud. Read more.

Real Estate Disciplines

Among the recent disciplinary actions taken by the Real Estate Division of the Illinois Department of Financial and Professional Regulation (IDFPR): 1) A real estate broker license was indefinitely suspended for a minimum of one year and fined $5,000 for failing to act in the best interest of her client, engaging in unprofessional conduct, and failing to disclose licensee status. 2) A real estate limited liability firm license and a real estate managing broker license were both revoked for violating the terms of an order. Read more.

REALTOR® Involvement in the Nov. 8 Elections

The Illinois REALTORS® and the REALTORS® Political Action Committee have been actively involved once again this election cycle with support to candidates throughout the state with direct contributions, as well as targeting candidates in tough battles with extra support through direct mail and other outreach efforts. We are also involved in fighting several home rule battles in local communities. Read more.

Questions about Mold Disclosure?

Based on periodic review of all forms and disclosures, Illinois REALTORS® has discontinued production of mold disclosure forms and notices. This action is based on advice from our legal team to discontinue, as there is no statutory requirement for anyone to supply such a form in real estate transactions. Historically, mold was at one time a “hot issue,” but since then, the science has not developed in such a way as to provide any acceptable or unacceptable levels for the presence of mold. Read more.

Popular RVOICE Brochures Debut with New Look, Easier Free Download

A trio of popular RVOICE brochures have been revised and available in a new, easy-to-print downloadable format; some available to order pre-printed for free, just shipping charges apply. Share updated information with your clients on carbon monoxide detectors, requirements for septic systems owners, and buying a condominium. Download today!

Check Out the 2016 Legislative Scorecard

Scorecard

Among the thousands of substantive bills considered by the Illinois General Assembly, your Illinois REALTORS® lobbyists actively tracked and worked on nearly 200 bills affecting the real estate business. Find out more about some of the most important bills the association championed or worked to defeat in the 2016 Legislative Scorecard

Real Property Alliance Initiative Educates on Chicago Property Taxes

Real Property Alliance has created a Web portal and video with information to share with Chicago residents as they go through their tax bills, offering guidance on how to navigate the appeals process. Residents were hit with tax increases averaging 12 percent which account for a scheduled triennial reassessment, and a separate increase in the tax levy, passed in large part to pay for public safety pensions. 

Managing Broker Renewal April 30, 2017

Check out Managing Broker Renewal resources on the Illinois REALTORS® website. You will find these handy downloads (pdfs):

Advertising Toolkit24 Things to Do (and Not Do) When Marketing Your Business

One of the top questions Illinois REALTORS® gets is about how to advertise in a way that meets state and REALTOR® Code of Ethics guidelines. Not following these rules can cause headaches, and even result in fines. Illinois REALTORS® Professional Standards Toolkit offers a new guide covering the basics of what you can and can’t do—great for sharing in your office. 

GRI

You (Or Your Agents) May Be Halfway to Earning Your GRI!

​If you completed broker post-license studies or managing broker pre-license studies with Illinois REALTORS® in the past five years, you have already earned 30 hours toward the Graduate, REALTOR® Institute designation. Learn more about the requirements and see how close you are to earning the GRI Designation. 

More Resources

outreach team

Schedule a Visit from Your Member Outreach Team

Looking for a topic for your next office meeting or regional meeting? The Member Outreach team is available to cover the latest legislative issues in play - local, state and national - as well as new laws, forms, RVOICE resources and RPAC. Call 1-800-752-3274 or Info@illinoisrealtors.org. 

 

 

 


Online Only! Designated REALTOR® Legal News is e-mailed to all members who are the Designated REALTOR® (or DR) for their real estate office. Be sure to watch and open all e-mail from “Illinois REALTORS."

The Designated REALTOR® Legal News is e-mailed six times per year (January, March, May, July, September, November) to the Designated REALTOR® member of the Illinois REALTORS®. For reprint permission, contact iarnews@iar.org.

 

 

 

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Graphic: Risk Management Toolbox