NAR GOVERNANCE ACTIONS AT NXT:

At its November 11 meeting in Boston, the National Association of REALTORS® Board of Directors approved NAR’s operating, advocacy, and Consumer Ad Campaign budgets and approved a membership figure of 1.4 million to serve as the basis for dues revenue in the 2025 budget.

NAR’s Executive Committee approved recommendations of the Culture Transformation Commission, Broker Engagement Committee, Federal Taxation Committee, Federal Technology Policy Committee, Legal Action Committee and Member Accountability Committee, among others.

NAR’s Delegate Body approved an amendment to Article 4 of the Code of Ethics for 2025.

Check out the details here

FEDERAL REPORTING REQUIREMENTS FOR BENEFICIAL OWNERSHIP:

The Corporate Transparency Act (“CTA”) was enacted by U.S. Congress on January 1, 2021, as part of the National Defense Authorization Act. The CTA includes significant reforms to anti-money laundering laws and is intended to help prevent and combat money laundering, terrorist financing, corruption, and tax fraud. 

The CTA establishes a beneficial ownership reporting requirement for corporations, limited liability companies, and other similar entities formed or registered to do business in the United States. Beneficial ownership reports must be filed with the Financial Crimes Enforcement Network (FinCEN), a bureau within the U.S. Department of Treasury with an initial deadline of December 31, 2024. For information on filing requirements please visit FinCen’s website and/or contact your legal and financial advisors.

This FinCEN video provides additional information

2025 REALTOR® DUES – ALL ARE DUE IN DECEMBER:

Your 2025 REALTOR® dues are due in December (Greater Portland Board, MidCoast Board, and Kennebec Valley are due on December 1) and local board late fees may be assessed beginning in early-December – as early as December 2. You pay your dues through your local REALTOR® boards’ Member Portal (links in right margin or below if viewing on a cellphone).

Designated Brokers: Remember...dues must be paid for anyone licensed in a REALTOR® office as of January 1, 2025. If an agent plans to make their license status inactive or his/her license expires any time on/after January 1 and they do not plan to renew, you must inform the Maine Real Estate Commission in writing that the agent’s license is no longer affiliated with your company by December 31, 2024 or you, as DB, will be responsible for that agent's payment. 

THANK YOU for your membership!

Learn more about your MAR membership benefits

REMINDER – NOTIFY YOUR LOCAL ASSOCIATION:

Please contact your local REALTOR® Association when you have any changes to your real estate license number, if you change company affiliation, or change any contact information including your email address. The Maine Real Estate Commission does not notify REALTOR® Associations about your license changes and our databases are not connected. You can find contact information for your local REALTOR® Association here. THANK YOU!

MAINE REALTOR MAGAZINE:

Maine REALTOR® magazine is mailed to your “Communication Preference” address on file at the Maine Association of REALTORS®. See below for instructions on how to update your delivery preference. The default communication preference is your office address. The next issue will mail in late-December.

COMMUNICATION PREFERENCE: To update your “Communication Preference” in the MAR membership system:

1)   Login to the Maine Association of REALTORS® RAMCO portal

2)   Help info is on the top and side of the portal sign-in screen.

3)   Click on the “Update Your Member Profile” in the blue box (upper left)

4)   Note the five sections on the left to update (Main, Home Address, Mailing Address, Personal, Communication Preference)

5)   Update your information in each section and be sure to click on Save at the bottom of each section.

ACCREDITED BUYER’S REPRESENTATIVE (ABR):

Time is running out! Through 2024, the National Association of REALTORS® is offering REALTOR® members no-cost access to the two-day Accredited Buyer's Representative (ABR®) designation’s core course (a $295 savings) to help REALTORS® communicate their value to buyers in this changing real estate landscape. The ABR® core course can be accessed in live virtual or self-paced virtual format (no Maine continuing education credit is offered).

Take the ABR core course alone, or to continue on and earn the ABR designation, you’ll need to complete an additional elective course (at your expense) and have completed at least 5 buyer-side transactions. More details and registration information here.

NAR NXT 2025 – SEARCHING FOR SPEAKERS:

NAR NXT, The REALTOR® Experience is heading to Houston, November 14-16, 2025. If you have a session idea, NAR invites you to submit a proposal to become a speaker. NAR NXT attendees travel from every state and around the world and expect innovative solution-oriented content to elevate their businesses. NAR is looking for speakers of all backgrounds and disciplines to fill its 2025 roster. The application deadline is Tuesday, January 14 at 5 p.m.

2024 HOLIDAY SCHEDULE:

Defined in paragraph 23 of the Purchase and Sale Agreement (and Addenda): "days in this Agreement, including all addenda made a part hereof, shall mean business days defined as excluding Saturdays, Sundays and any observed Maine State/Federal holidays". The Maine State Holiday list is inclusive of all federal holidays. As always, the best approach to any confusing holiday is to communicate both with your client and the agent for the other side to be sure you have all counted the same way and have the same expectations.

Here’s the holiday schedule for 2024

Here’s the holiday schedule for 2025