GLAR News: Nov. 12, 2024 - REALTOR DIRECT

The Bylaws of the Greater Louisville Association of REALTORS® have been updated to reflect the National Association of REALTORS® (NAR) Fair Housing Training requirement mandated for members beginning January 1, 2025.

REALTORS® are required to complete Fair Housing / Anti-Bias Training every 3 years thereafter, coinciding with the Code of Ethics training timeline. This requirement is in addition to the Code of Ethics training. Qualified training must be not less than 2 hours of instructional time and meet specific learning objectives established by NAR. This requirement will begin January 1, 2025 with a deadline of December 31, 2027.

Our GLAR Education Team has been working diligently to prepare for this new requirement and plans both online and in-person fair housing course options for member compliance.

View redline version of GLAR Bylaws
View updated version of GLAR Bylaws
Read more about the Fair Housing Training requirement.

Pursuant to Article III of the Metro Search, Inc. (MSI) Bylaws, updates have been made to ensure compliance with the National Association of REALTORS® (NAR) MLS policy updates from the recent settlement. These updates include the definition of a participant being modified to remove the offer of compensation, and any language referring to compensation or cooperating compensation.

MSI BYLAWS - ARTICLE III: The Board of Directors shall cause any Multiple Listing Service established by it pursuant to this Article to conform its corporate charter, Constitution, Bylaws, rules and regulations, policies, practices and procedures at all times to the Constitution, Bylaws, rules, regulations, and policies of the NATIONAL ASSOCIATION OF REALTORS®.

View redline version of MSI Bylaws
View updated MSI Bylaws

We have reimagined this year’s holiday party! Join us on Thursday, December 12th for an unforgettable evening where tradition meets a fresh, fun twist! Our Greater Louisville Association of REALTORS® holiday event will feature the Installation Ceremony, where we will proudly swear in the 2025 GLAR President, Will Fischer, and MSI President, Kristen English, along with incoming board members. We’ll also celebrate excellence in our industry by announcing our 2024 award recipients.

After the ceremony, the party begins! We’ll kick off the night with music, cocktails, and delicious hors d'oeuvres, as we dance the night away with GLAR and your fellow members. Find out more and get registered here.

At its Monday, Nov. 11 meeting, 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. Below is a comprehensive update on actions approved at the 2024 conference held in Boston.

View the Conference Update and Board Actions
Watch NAR President's Kevin Sears Message from NAR NXT

Get involved at YOUR Association! We invite you to apply to be part of our committees and advisory groups for the upcoming year. Serving on a committee or advisory offers a rewarding opportunity to make a real difference, grow professionally, and collaborate with others who share your dedication to our industry.

Simply fill out your 2025 Member Engagement Form and select the committee or advisory group you are interested in serving on. The deadline for committee sign-ups is December 1, 2024. If you’ve thought about making a difference, this is your moment. Don’t miss out on the opportunity to be a part of our exciting year ahead!

Under the Corporate Transparency Act (CTA), which went into effect on January 1, 2024, many U.S. small business owners are required to file corporate transparency reports with beneficial ownership information. For most eligible businesses, the filing deadline is January 1, 2025.

Join Harry Borders for a FREE session at the GLAR Office on Monday, November 18 from 6:00-7:30 PM for answers to all your questions and a tutorial for registering.

WHAT YOU NEED TO KNOW

Who must file?
What must be reported?
What are the deadlines?
What are the consequences for non-compliance?

We have received multiple reports of a fraudulent vacant land listing attempt for the address 7010 Wolf Pen Branch Rd, Prospect KY, 40059. The alleged fraudulent seller has been reported to have identification, a quitclaim deed, and is calling from a 502-area code phone number.

Vacant Lot Scam attempts are still happening. This is when someone poses as the owner of a property and tries to get a listing, a contract, and a closing where they can steal funds for a property they do not own. Remember, you should always exercise additional caution and extra vetting in closing transactions where you do not personally know the seller or where the seller is executing a deed outside of your presence.

If you encounter this scam, report it to the FBI on their website. If you or a client has been the victim of an online scam, report it to both the local law enforcement and the local FBI Field Office.