Buyers and Sellers FAQs
The REALTOR® logo follows the name of every member of the Salt Lake Board of REALTORS®. It is the badge of professionalism. The "R" signifies that the member has completed the required coursework to earn a real estate license and has joined the National Association of REALTORS®, the trade association for real estate professionals. The REALTOR® "R" assures buyers and sellers the agent has agreed to abide by the rules and ethical principles adopted by the industry. Indeed, courses in Ethics are at the heart of REALTOR® education.
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The SLBR and the WFR MLS are separate entities. If you need to reach the MLS, you may reach them at 801-676-5400. The Division of Real Estate is a government agency which "provides public protection in the real estate marketplace through the education and licensure of real estate brokers, sales agents, appraisers, and the licensure of mortgage lenders. The Division is also responsible for the registration of subdivisions, timeshare developments and camp resort memberships and persons selling timeshares and camp resorts." You may reach them at 801-530-6747.
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An appraisal is an estimate of value; it is for the protection of the lender. A home inspection is evaluation of the physical condition of the house; it is for the peace of mind for the buyer.
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"In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others. They identify and take steps, through enforcement of this Code of Ethics and by assisting appropriate regulatory bodies, to eliminate practices which may damage the public or which might discredit or bring dishonor to the real estate profession. REALTORS® having direct personal knowledge of conduct that may violate the Code of Ethics involving misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm, bring such matters to the attention of the appropriate Board or Association of REALTORS®." (from the NAR Code of Ethics Preamble Amended 1/00) You can access the full Code of Ethics which all REALTORS® must abide by  HERE.
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A complaint may be filed by another REALTOR®, by the buyer or seller, or any other member of the public. To file a complaint, please contact the Salt Lake Board of REALTORS® at 542-8840 or download the Ethics Form and a copy of the Code of Ethics. The authority of the Grievance and Professional Standards Committees of the Salt Lake Board is limited SOLELY to review of alleged violations of the Code of Ethics and if necessary, to hold formal hearings on those allegations. The Committees are NOT EMPOWERED TO RESCIND OR MODIFY CONTRACTS OR AWARD MONIES (INCLUDING EARNEST MONIES). Following your review of the Articles of the Code of Ethics, please complete the complaint form, return it to the Board along with a detailed explanation of how the REALTOR® violated the Code of Ethics. You must cite specific Article(s) of the Code. A narrative arranged in chronological order is usually the best way to support your complaint. Please include copies of available documentation supporting your narrative. It is important that your narrative be as detailed and complete as possible to enable the Grievance Committee to properly evaluate your complaint. Examples of relevant documents might include Real Estate Purchase Contract (REPC), agency contracts, listing agreements, disclosure forms, etc. Before you file a complaint, we suggest you read THIS.
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The function of the Grievance Committee is clearly distinguishable from the function of the Professional Standards Committee. The Professional Standards Committee is similar to a court. The court adjudicates matters that come before it. The Professional Standards Committee makes decisions on matters involving ethics or arbitration. The function of the Grievance Committee is similar to that of the grand jury. A grand jury evaluates potentially criminal conduct to determine whether the evidence presented warrants indictment and trial. The Grievance Committee receives ethics complaints and arbitration requests to determine, if taken as true on their face, a hearing is to be warranted. The Grievance Committee makes only such preliminary evaluation as is necessary to make these decisions. While the Grievance Committee has meetings, it does not hold hearings, and it does not decide whether members have violated the Code of Ethics. The Grievance Committee does not mediate or arbitrate business disputes.
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THE FRAUD HOTLINE: Are you aware that Utah ranks in the top 5 states for loan fraud, bankruptcy and foreclosures? Did you know that because of this ranking your clients pay higher interest rates and fees? The UMLA is working diligently with the FBI, HUD and the Dept. of Commerce to end these problems. If you or your clients feel you may have been victims of loan fraud or predatory lending, call the UMLA Hotline at 303-0700 or 800-530-3691. Leave a message with your phone number and you will receive a call back within 48 hours on any weekday. You may also go to the UMLA website and retrieve a copy of the complaint form provided by the Dept. of Commerce.
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Visit our tutorial section HERE.
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If you have been terminated from the board for over 1 year, you will have to apply as a new member and pay the initial fees again ($350 entry fee and dues). You will need to complete the "Membership Form" and have your broker sign it. If you have been terminated for over 1 year, but have been paying the "inactive fee" of $75 each year, you will not have to pay the $350 entry fee. You will only need to complete the "Membership Form" and pay the prorated annual dues for the current year. If you have been terminated for less than 1 year, complete the "Membership Form" and have your broker sign it. You will need to pay the prorated annual dues if they have not been paid during the current calendar year. If your dues have been paid for the current year, then there is no fee to reinstate.
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Each year the Salt Lake Board of REALTORS® honors its most distinguished members with Awards for their service in the industry and the community. Nominees for each award are evaluated by a committee of their peers based on previously determined criteria. The awards are presented at a special ceremony each year and the most current award winners are displayed HERE.
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The Risco key and lockbox system, available to Salt Lake Board members, is a privileged security system useful in keeping clients homes safe and secure while being listed for sale. This system allows agents to strictly monitor viewings of the home through an electronic key storage box usually placed somewhere on the property.
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The Salt Lake Board offers networking programs designed to allow our members to preview listings and gain feedback on their own current listings. A similar program is available for the Davis County Area.
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About Affiliates Page and a list of Affiliates by Trade are available online.
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All questions concerning licensing can be addressed to the Division of Real Estate, 160 E 300 South 2nd Floor (Heber Wells Building) Phone (801) 530-6747
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No, however, the fees for a non-board member are usually around $10 per credit hour and must be paid for with cash only at the time of the class. If you would like to request a class schedule or to register, please contact our Education Department.
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The Board is not authorized to advise members of the public on legal matters. Please utilize the services of your REALTOR® or contact the Utah Division of Real Estate for assistance.
Dues paying members of the UAR may access the Legal Resource Center.
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Click here to see the glossary of terms page.
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If you have questions about the Salt Lake Board of REALTORS® that haven't been answered on this page, please email our webmaster and she will respond to you shortly with the information you need. If you have a question about the real estate industry or a real estate transaction, please look to your REALTOR® for their expertise.
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Glossary of Terms
