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Tahoe Real Estate - Single Family - Christmas Valley
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Tahoe Real Estate - Condo/Townhouse - Christmas Valley
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Tahoe Real Estate - Multi Family - Christmas Valley
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Tahoe Real Estate - Land - Christmas Valley
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Tahoe Real Estate - Commercial - Christmas Valley
10,000TH REALTOR® EARNS SENIORS REAL ESTATE SPECIALIST®
DESIGNATION The Senior Advantage Real Estate Council®
(SAREC) awarded its 10,000th Seniors Real Estate Specialist®
(SRES®) designation to REALTOR® Carol Ann Surufka, a REALTOR®
with Why USA Oakview Partners Real Estate in Lansing, Ill.
SAREC made the announcement during the NAR 2004 REALTORS®
Conference & Expo in Orlando, Fla. The SRES® designation was
conferred to Surufka on Oct. 8 in Illinois. By earning the
SRES® designation, REALTORS® demonstrate knowledge and expertise
to counsel senior clients and are prepared to offer those
clients a variety of informed options when making life-changing
decisions. "Since its founding in 1998, the Senior Advantage
Real Estate Council has continued to set the industry standard
for training and educating REALTORS® to meet the needs of
senior homebuyers and sellers," said SAREC® Chairman of the
Board Mike Silvas. "Reaching the 10,000-designee mark is a
testament to the quality of the SAREC® program and the confidence
REALTORS® nationwide have placed in the SRES® designation."
SAREC® is owned by Real Estate Business Services Inc. (REBS),
a subsidiary of the California Association of REALTORS® (C.A.R.).
BECOME A C.A.R. LEGISLATIVE LIAISON 2004
marks the eighth anniversary of the Legislative Liaison Program,
developed by C.A.R. to help keep REALTORS® informed of legislative
changes that impact the real estate industry. With more than
7,600 volunteers in offices across California, Legislative
Liaisons are an important link between REALTORS® and C.A.R.
Governmental Affairs Dept. Legislative Liaisons receive a
special fax or e-mail update approximately twice a month from
C.A.R.'s Governmental Affairs Dept. This update includes details
about the legislative and political events in Sacramento and
Washington, D.C., and can be shared with colleagues at sales
meetings or by forwarding the e-mail. You can participate
as a Legislative Liaison at no cost by signing up via the
link below. By becoming a Legislative Liaison, your office
will be kept up-to-date on the latest legislative and political
issues affecting REALTORS®. If you have questions please feel
free to contact C.A.R.'s Member Mobilization Dept. at (916)
444-2045.
RULING IN DISCRIMINATION CASE IMPACTS REAL ESTATE
BROKERS PERSONALLY Under general principles of corporate
law, a real estate corporation is generally liable for acts
of its salespersons but a supervisor generally is not personally
liable for the acts of a salesperson. However, in a case that
is out of step with general corporate law, the Ninth Circuit
held that the designated broker for a real estate corporation
could have personal liability for the negligent supervision
of his agent, and under agency laws, the court held that a
broker could have personal liability as principal for the
actions of his agent, a salesperson. The court based this
holding on California real estate licensing law which places
the responsibility for supervision of salespersons on a specific
real estate broker who is the officer for the real estate
corporation. The Ninth Circuit also found sufficient justification
to apply the "alter ego" theory and pierce the corporate shield
to impose liability on the individual owner/broker. In the
case of Holley v. Crank, the court considered several facts
to be relevant: the broker was the sole shareholder of the
corporation, he was the company's president and designated
officer/broker, it was very thinly capitalized, and he failed
to treat the corporation as a distinct entity in his tax return.
C.A.R. strongly disagrees with the holding that disregards
the corporate structure and traditional application of corporate
and agency principles and is concerned about the long-term
ramifications of personal liability on brokers that have in
good faith tried to comply with the fair housing laws and
have trained their agents to do so.
Fast Facts Calif. median home price - Sept.
04: $465,540 (Source: C.A.R.) Calif. affordability index -
August 04: 18 percent (Source: C.A.R.) Calif. highest median
home price by C.A.R. region - Sept. 04: St. Barbara So. Coast
$949,000 (Source: C.A.R.) Calif. lowest median home price
by C.A.R. region Sept. 04: High Desert $238,340 (Source: C.A.R.)
Mortgage rates - week ending 11/4: 30-yr. fixed: 5.7%; Fees/points:
0.6% 1-yr. adjustable: 4.0%; Fees/points: 0.6% 15-yr. fixed:
5.08%; Fees/points: 0.6% (Source: Freddie Mac)
Information provided by - C.A.R. Newsline is published by
the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association
representing more than 135,000 REALTORS® statewide.
