NCAR Broker-In-Charge Eblast

12 6 2010

Article 11 Specifies Land as Specialty

Brokers-in-Charge take special note: Land brokerage is a specialty which requires expertise – this is the message delivered by the recent inclusion of Land in Chapter 11 of the Realtor® Code of Ethics.

Agents who list and sell land without being properly trained are acting outside the scope of their education and are in violation of NC Real Estate Commission rules and the REALTOR® Code of Ethics. This subjects them, and you as Broker-in-Charge, to greatly increased risk. Many E&O policies may not cover mistakes made by untrained agents because the agent and their broker-in-charge is not acting within the law as defined by the Commission.

The North Carolina Chapter of the REALTORS® Land Institute is here to help. A one hour ‘lunch & learn’ would be a great way to become familiar with the outline of land transactions and can usually be arranged at no cost throughout the state. A four hour Elective Continuing Education course is in the works and should be available next year. RLI’s most popular two day course is Land 101 and this is the best way for both new and experienced agents to become familiar with land brokerage and land concepts. See “Education”.

Follow the link below for additional information.