 GNIAR MLS Rules and Regulation Changes The GNIAR MLS Rules and Regulation have been updated. The new rules will become effective January 1, 2009. The updated rules and regulation have been approved by National Association of REALTORS® and come after a comprehensive review by the GNIAR MLS Rules and Regulations Committee, GNIAR MLS Board of Directors and GNIAR Board of Directors. All MLS Participants (Principal and Managing Brokers) and MLS Subscribers (agents) must adhere to the updated rules and regulations and the accompanying fine structure. Until January 1st, MLS Participants and Subscribers will receive notifications of rules and regulations violation without penalty while they educate themselves on the changes. However, the MLS Rules and Regulations and fine structure will be strictly enforced beginning January 1, 2009. To view the list of changes please visit: http://www.gniar.affiniscape.com/associations/6995/files/Rules%20and%20Regs.pdf If you have any questions, please contact the GNIAR office at 1-800-338-8489. The 2009 Affiliate Dues are $250 per affiliate member. Invoices for the 2009 Dues will be sent out in at the end of January/beginning of February. We ask that affiliate dues be sent to the Board Office no later than March 15, 2009. A form will be sent along with the invoice that should be filled out completely with information such as company name, affiliate members, mailing address, billing address, phone, fax, email and website. Please make sure to fill out all information so we may update our records. On behalf of the entire association, we would like to thank all of our Affiliate Members for their continued support in 2008 and look forward to working with all of you in 2009. Thank you. IRS Requires Reporting of Cooperative Commissions The Internal Revenue Service (“IRS”) requires that listing brokers who pay a cooperative commission in excess of $600 to an individual who is not their employee must complete a Form 1099-MISC. While this is not a new law, it has come to NAR’s attention that not all real estate professionals are aware of this requirement. Below is a brief description of this issue and links to the necessary forms. IRS Requirements The IRS requires individuals that: These filing requirements exist even if the listing broker is not directly paying the cooperative commission to the other broker. So, if the cooperative commission is paid by the escrow agent to the other broker, the listing broker may still need to file a 1099-MISC. This is because the funds constituting the cooperative commission are drawn from the listing broker’s portion of the commission and so the payment is technically made by the listing broker. This requirement only applies to payments made to individuals, and does not apply when the payments are made to corporations. Listing brokers should still make it part of their business practice to obtain a completed Form W-9 from anyone to whom it pays a commission, whether it be an individual or a corporation. Property owners do not need to complete a 1099-MISC for the commissions they pay to real estate professionals because this activity is not part of their trade or business. Beginning January 2009, the following three forms will be added to the ZipForm library accessible by all IAR members: Referral Fee Agreement Also beginning January 2009, some changes agreed upon by the IAR Residential Forms Committee will be made to existing forms. The Changes are summarized in this PDF; click here. IAR Announces Addition of New Forms for 2009 Beginning January
2009, the following
three forms will be
added to the ZipForm
library accessible by 1. Referral Fee
Agreement IAR Technology Helpline - 866-232-1833 With technology becoming an increasingly vital tool in the real estate industry, the Indiana Association of REALTORS® is offering an exclusive member service - the IAR Technology Helpline. You can call 1-866-232-1833 any time Monday - Friday, 9am-5pm and get a real live person able to answer all your technology questions-big or small. Calls to the Helpline are Free for all IAR members. Real, live people-are on hand to answer your questions. When a technology crisis hits, getting help quickly and easily can make a difference to your bottom line--the sooner the problem is resolved, the sooner you are back in business. Since the service comes from IAR, you know the experts offering technology advice are representing your best interests--not trying to push a specific product. And, as a IAR service, those operating the Technology Helpline understand the real estate business. There are no time limits to your calls, and you can call as often as you need to! You will be able to get answers to all your tech related questions through one service. Get answers to common operating systems such as Windows, MAC, and Palm; common Real Estate specific software such as Top Producer, WInforms, Zipforms, Lightning CMA Plus!, and many more! All common business related programs such as MS Office Suite, Goldmine; Wordperfect, Act!, web browsers such as Netscape, Internet Explorer, among others, major web editing software including MS Frontpage and Dreamweaver, all major hardware and peripherals such as scanners, printers, PDAs, all email programs and more! *The only tech-related issue you won't be able to get answers about is your local MLS. Looking for the Current LPCAR Monthly Newsletter? Look no further! Click here to access the very latest LPCAR Monthly newsletter now! Take Advantage of Special Member Pricing  Welcome to Our Web Site! Welcome to the online home of The LaPorte County Association of REALTORS! Our web site, designed, developed, and maintained by Catalyst Marketing Innovations LLC of Michigan City, www.catalyst-marketing.com, provides a plentitude of information for Association members and potential members alike! With complete information on membership, an overview of the Association, news, frequently asked questions, inquiry forms, and complete contact information, you're sure to find just what you are looking for. And, for our members, we feature a special members-only private section of the site, complete with access to ZipForms Online, Newsletters, a complete member directory, a special Members-only inquiry form, directory of online resources, and complete association calendar of events. We hope you find out site attractive, easy-to-use, and full of useful information. Welcome and enjoy! |
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