*Approved new model rules for MLSs that would enable practitioners to alert one another to potential short sales and put them on notice about the sharing of any reduction in gross listing commission required by a lender. MLSs are given the authority to decide whether or not their participants have to disclose reasonably-known short sales.
*Gave MLSs discretionary authority to enable participants to offer cooperative compensation through the MLS as a percentage of the net sale price. The net sale price is the gross price minus seller concessions and new-construction buyer upgrades.
*Approved a statement of principles on immigration, saying NAR will be involved in immigration issues as needed to support stable, prosperous, thriving, and secure communities and to enhance the United States as a destination of choice for those seeking to own, transact, lease, and use real property. Among the principles, the association supports the right of foreign citizens to acquire and own real estate, supports the free flow of international capital for real estate, and opposes laws that would impede that flow. The directors voted to support a federal resolution on securing borders to prevent illegal immigration while allowing for the flow of legal immigrants to accommodate the labor needs of the economy.
*Supported an increase in H-2B worker visas to ensure an adequate supply of foreign workers in the United States, particularly in resort areas, which are highly dependent on such workers.
*Supported voluntary, market-based solutions to address pollution and degradation of the country’s waterways, while supporting private property rights; said federal water resource policy should take into account traditional state, local, and private water rights and uses.
*Updated the association’s policy on federal transportation funding, setting aside specific policies in favor of a flexible policy accounting for changes in travel patterns, shrinking petroleum supplies, and continuing technological innovation.
*Clarified that NAR policy does not prohibit REALTOR® associations from establishing service centers in other association jurisdictions, nor does it prohibit associations from offering member recruitment dues incentives.
*Supported use of the FHA insurance program to help homeowners refinance out of unaffordable mortgage products, provided safeguards are in place to protect FHA goals and minimize taxpayer risk.
*Affirmed that the association seeks affordable health insurance coverage that preserves choice but opposed a single-payer system and any requirement that employers provide coverage to employees.
*Approved a series of changes to NAR policies and processes for nominating and electing NAR officers, among them, that the association will hold a candidate forum at its annual and midyear meetings and create venues for directors to learn about the candidates. Of roughly two dozen election reform recommendations, only two were defeated by the board: One would have required that when the Nominating Committee interviews more than one candidate and any interviewed candidate who was not nominated chooses to run through the petition process, the committee then must present to the board a rationale for its decision to nominate the chosen individual; the second would have required NAR candidates’ Web sites to include a section for voluntary disclosure of campaign receipts and disbursements. Several of the approved changes require amendments to the NAR Constitution so will come before the NAR Delegate Body at its November meeting.
*Provided $332,753 to fund two legal cases. One involves the constitutionality of a municipal requirement for a property inspection at the point of sale. The other involves treatment of exclusive agency listings by an MLS, including exclusion of such listings from the MLS data feed.
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