Status: Closed — this petition is no longer accepting signatures.
Final supporters
NWMLS Legal Bulletin 217
The new rules scheduled for implementation October 1st may very well be a needed update to our industry's long standing way of doing business, but I think the speed with which we are progressing may be too fast.
We have not had full discussion of the ramifications of these proposals and the possible unintended negative consequences. For instance, current federal mortgage rules prohibit seller credits to buyer above a certain percentage, eliminating the possibility of some buyers paying for a broker, and mortgage lenders have not fully crafted rules wrapping buyer paid commission fees into a loan package.
We are hearing from our brokers that these new rules need more discussion, and maybe a vote from members before implementation.
I would like to suggest we postpone the October 1st date for 6 months to allow for more time to have these discussions.
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Revise RMLS Rule 3.25 Regarding Short Sale Status
22 Comments
The on-going sellers market is driving this. It will be interesting to see the shift when the market becomes neutral, or a buyers market. We pay our dues, we should be involved with the final decision.
I think as well that this matter needs member input before implementation. I am anxious to see if it will be discussed at the Realtors Fall conference.
There are way too many facets that have not been discussed or explored. For the health and welfare of our industry we need time to really look at it’s far reaching potential issues. What is the hurry?
if The intent is to stop those who are shady in the industry, go directly after them and penalize them. Take their license, impose bigger fines, get to the root and remove it. If not they will find another work around.
The rule change is completely ridiculous and removes competition in the market place. Classic rule change based on a few dishonest brokers or brokers that do not communicate well with clients and the masses suffer. Not to mention the consumer!
I think this needs to be further thought out and how this will effect our market, the buyers, the sellers, and most of all the agents within the association.
This only protects NWMLS not brokers
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Status: Closed — this petition is no longer accepting signatures.
Final supporters
NWMLS Legal Bulletin 217
The new rules scheduled for implementation October 1st may very well be a needed update to our industry's long standing way of doing business, but I think the speed with which we are progressing may be too fast.
We have not had full discussion of the ramifications of these proposals and the possible unintended negative consequences. For instance, current federal mortgage rules prohibit seller credits to buyer above a certain percentage, eliminating the possibility of some buyers paying for a broker, and mortgage lenders have not fully crafted rules wrapping buyer paid commission fees into a loan package.
We are hearing from our brokers that these new rules need more discussion, and maybe a vote from members before implementation.
I would like to suggest we postpone the October 1st date for 6 months to allow for more time to have these discussions.
22 Comments
Our commission structure has always been negotiable so "transparency" is not the real issue here, although the NWMLS would like you to believe that. Shame on them for throwing their members under the bus! This is not good for our industry and completely unnecessary.
The on-going sellers market is driving this. It will be interesting to see the shift when the market becomes neutral, or a buyers market. We pay our dues, we should be involved with the final decision.
I think as well that this matter needs member input before implementation. I am anxious to see if it will be discussed at the Realtors Fall conference.
There are way too many facets that have not been discussed or explored. For the health and welfare of our industry we need time to really look at it’s far reaching potential issues. What is the hurry?
if The intent is to stop those who are shady in the industry, go directly after them and penalize them. Take their license, impose bigger fines, get to the root and remove it. If not they will find another work around.
The rule change is completely ridiculous and removes competition in the market place. Classic rule change based on a few dishonest brokers or brokers that do not communicate well with clients and the masses suffer. Not to mention the consumer!
I think this needs to be further thought out and how this will effect our market, the buyers, the sellers, and most of all the agents within the association.
This only protects NWMLS not brokers
Share Petition
Don't stop at signing, share the petition link with friends to multiply our impact
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Our commission structure has always been negotiable so "transparency" is not the real issue here, although the NWMLS would like you to believe that. Shame on them for throwing their members under the bus! This is not good for our industry and completely unnecessary.