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SEBAR Legal News Update featuring News that's Relevant to YOUR Business!


If you have any questions, comments, or ideas, please email

Urgent Update

All Brokers were sent an email last week from SEBAR’s CEO, Shannon Harner in response to the Sitzer/Burnett class action lawsuit verdict. As a reminder, SEBAR and SEM MLS members should understand that this case still has a long way to go before it is resolved.


As a result, it remains extremely important to stress the use of buyer brokerage agreements. Michigan Realtors® will be pushing out some form revisions over the next few months. The first revision impacts the Buyer Agency Agreements within the MR Library. MR is retiring forms U and UU (short form Buyer Agency Agreements). They have also replaced forms J and JJ (Buyer Agency Agreement for Traditional and Designated Agency Firms) with revised forms that can be found in ‘MLS DOCS’. We have forwarded these updated forms on to get them updated in Transaction Desk. Please discontinue using the old forms and use the newly updated ones as replacements. 


If you have any questions, do not hesitate to give either Lisa or Shannon a call at the SEBAR office.  


Download The New PDF Documents Below

Source: Southeastern MLS

For more videos and transcripts

2023 Within The Law Materials Now Available

Source: Michigan REALTORS® (MR)

Source: Michigan REALTORS® (MR)

Fair Housing Center of Metropolitan Detroit's Down Payment Assistance Program

Down-Payment Assistance Available for Homebuyers and Homeowners

 When a Home is Appraised Below the Loan Amount


The Fair Housing Center of Metropolitan Detroit is pleased to announce that it has received “Opportunity Fund” funds to be used for down payment assistance. The down payment assistance funds are available under the following conditions: 


  • The funds will be used for down payment assistance of up to $10,000 for new homebuyers and homeowners whose applications are denied based on the appraised value of a home being below the loan amount.


  • Although a preference will be given to new homebuyers or homeowners seeking to purchase or refinance a home for $100,000 or less, down payment assistance is available for purchases above $100,000.


  • As a condition of the down payment assistance, the homebuyers and homeowners will be required to provide copies of their purchase agreement, appraisal(s), and the requested loan amount. The homebuyers or homeowners participating in this program will be required to execute any necessary release for the disclosure of such records and information.
More Information Click "HERE"

Source: Steve Tomkowiak, Executive Director Fair Housing Center of Metropolitan Detroit

Legal Line Question

A Year In Review: 2023 Legal Q&A

As we wrap up 2023, your Michigan Realtors® Legal Team has found themselves, once again, reflecting on another year of legal education. And what better way to reflect on legal lessons learned than to revisit the top Legal Hotline Questions of 2023?

Click here as we review this year’s most popular legal questions and answers.

Source: Rebecca Berke, ESQ., Director of Legal Education (MR)

NAR's Board of Directors approved a change to the Code of Ethics training requirement, extending it from every two years to every three years. This extends the current cycle deadline from March 1, 2022, to Dec. 31, 2024.


REALTORS® are required to complete ethics training of not less than 2 hours, 30 minutes of instructional time. The training must meet specific learning objectives and criteria established by the National Association of REALTORS®. 



Training may be completed through NAR’s online courses or through another method, such as online or classroom courses via local/state associations. Read the consequences for failing to complete Code of Ethics training.

MICHIGAN REAL ESTATE LICENSEES NOW HAVE INDIVIDUAL EXPIRATION DATES, BASED ON THE ORIGINAL ISSUE DATE OF THE LICENSE.


The month and date of your license expiration is your new deadline each year to complete your 2 hours of legal credit.


IDENTIFYING REAL ESTATE LICENSE EXPIRATION DATE AND CONTINUING EDUCATION DEADLINES


To remain compliant and meet the continuing education requirements for renewal, licensees need at least 18 total credit hours every three years. Within these 18 hours, two hours of legal credit must be taken in each year you are licensed. The additional 12 credits to reach a total of 18 prior to renewal may be credits of any type (legal or elective) and may be taken at any time during the three-year period.


To find your license expiration date(s), click here!


Click Here to Register for SEBAR CE Approved Educational Classes!
Source: Michigan REALTORS® (MR)
LEGAL RESOURCE
Visit MIRealtors.com website
Source: Michigan REALTORS® (MR)

Thank You to our 2023 SEBAR Affiliate Partners ...



Diamond Partners


ATA National Title Group

Amber, Majtyka & P.J. Ruokis

Michigan Title Insurance Agency, Inc.

Rick "Smitty" Smith, Adam Drobet, Michelle Vajcner, Julie Wery

Pillar to Post

Steven Peterson



 Ruby Partners


First American Title Company

Linda Gutierrez, Rachel Lloyd, Frank Lucarelli, Angie McNeely

Supreme Lending

Julie Sammons & Stephen Fiordelis


 

Gold Partners



Accuspect Home Inspection Company

Dale Raines

First Merchants Bank

David Evanoff, Howard Roberts, Susan Roppel

Monroe Community Credit Union

April Eggert



 Silver Partners


2-10 Home Buyers Warranty

Mark Light

American Financial Network

Tom Ciotti

America's Preferred Home Warranty

Tyler James

Delmar Mortgage

Ramzi Faraj

Downriver Profile

Robbin Moyer

GreenStone Farm Credit Services

Brian Young

Hassett Title

Dan Hassett, Doug Hassett, William Hassett

InsideOut Inspection Plus

Wayne Pavlika & Keirsten Rowley

Lawyers Title of Monroe

Goran Cepo, Ann Hammack, Kendan Myers

Simple Mortgage

Dawn McCarty

Union Home Mortgage

Jacob Boes & Shannon Henegar

University Lending

Dan Voran, & Donna Ferguson



We are so grateful for your continued support of SEBAR!



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Southeastern Border Association of REALTORS®
Shannon Harner, RCE, AHWD, C2EX, e-PRO, Chief Executive Officer
Lisa Horvath, e-PRO, MLS Director
Kyra James, Membership Director

Monroe Office
125 Cole Road
Monroe, MI 48162
734-242-6866

Downriver Office
Horizon Business Center West
20600 Eureka Road, Suite 510
Taylor, MI 48180
734-287-8060

Monroe Office Hours: Monday through Friday 8:30 am to 4:30 pm
Downriver Office Hours: Monday through Thursday 8:30 am to 4:30 pm