REALTOR® BENEFITS

Did you know the National Association and the State Association offer many benefits for RealtorsÒ?  Benefits include such things as technology services, financial services, office solutions, and much more!  Listed below are some of those benefits: 

June Benefit Highlights:

From IAR:

The Indiana Association of REALTORS® credit card is a way to increase your marketing exposure and support the state association. Not only will you help support the association, you will also carry a credit card with great marketing potential. Every time you use it to pay for dinner or to buy new clothes, you may walk out with a serious sale or listing lead. What's more, you can take advantage of our itemized Year End Summary of Charges so you can keep track of your business and personal spending. Use Priority Code P60K when calling.

Call Toll-Free 1-866-GET-MBNA (438-6262)
TTY users call 1-800-833-6262

Visit IAR Website

Office Products: Order office products via a catalog and/or online. It's simple, inexpensive and quick.

Susie Haler
Call 800-420-6421


Visit AMO Website

IAR is pleased to introduce you to this NEW member benefit. As a valued association member, you and your family are eligible to take advantage of the Wells Fargo Capital for Knowledge Program®. The Capital for Knowledge Program® is a full-service education and financial resource designed to help you prepare - and pay for - education.

The Capital for Knowledge Program® comes equipped with:

• An online resource center packed with college preparatory information
• A scholarship search engine loaded with information on nearly $5 billion in available monies
• The Wells Fargo CollegeSTEPS® Program Scholarship Sweepstakes
• Hands on BankingSM
• An online student loan calculator, and
• An online financial literacy program

In addition to features that can allow our members to finance up to $25,000 per school year, borrow even if they’re enrolled less than half time, and access their account online 24 hour a day, the program includes a series of flexible, affordable student loan options:

• Higher education loans for undergraduate and graduate programs
• Career education loans for technical/professional training and certification
• Loans for private K-12 schools and academies
• Education loan consolidation

Call 1-888-651-LOAN (1-888-651-5626 )

Visit Wells Fargo Capital Website

From NAR:

Chase Card Services

NAR and Chase are pleased to offer you a selection of REALTOR® Platinum Visa Card products and to introduce this unprecedented offer: New card members receive an automatic $64 on your first statement after your first purchase when you apply and are accepted for REALTOR® Platinum Visa® Card.

Please note offer is available online at www.chase.com/applyrealtor or by calling 1-866-VISA-NAR.

REALTOR® Platinum Visa Card Benefits

• Receive an automatic $64 on your first statement after your first purchase.
• Great low rate on purchases and balance transfers.
• Low introductory 0% fixed annual percentage rate (APR) for up to 15 months.
• Choice of card design featuring REALTOR® logo.
• No annual fee

Optional Rewards Program, Chase Flexible Rewards

• Earn one point for every $1 spent in card purchases.
• Redeem points for travel, cash, merchandise or gift certificates.
• No cap on points.
• $59 annual fee

More Exclusive Platinum Visa Benefits

• 5% savings from the REALTOR.org Store when purchasing with your REALTOR® Platinum Visa Card.
• Travel accident insurance.
• 100% protection against unauthorized purchases.
• Emergency card and cash.
• Auto rental insurance.
• Travel and emergency assistance.
• Year-end summary of charges upon request.

View Products/Services from Chase

When applying for your REALTOR® Platinum Visa Card, choose from three attractive card designs, all featuring the REALTOR® logo.

The Ethics Corner

Case Interpretations related to Article 4:

Article 4

Realtors^® shall not acquire an interest in or buy or present offers from themselves, any member of their immediate families, their firms or any member thereof, or any entities in which they have any ownership interest, any real property without making their true position known to the owner or the owner’s agent or broker. In selling property they own, or in which they have any interest, Realtors^® shall reveal their ownership or interest in writing to the purchaser or the purchaser’s representative. (Amended 1/00)

• Standard of Practice 4-1
  For the protection of all parties, the disclosures required by Article 4 shall be in writing and provided by Realtors^® prior to the signing of any contract. (Adopted 2/86)

Case #4-1: Disclosure when Buying on Own Account (Reaffirmed Case #13-1 May, 1988. Transferred to Article 4 November, 1994.)

Client A consulted REALTOR® B about the value of a lot zoned for commercial use, saying that he would soon be leaving town and would probably want to sell it. REALTOR® B suggested an independent appraisal, which was arranged, and which resulted in a valuation of $130,000. The property was listed with REALTOR® B at that price. Shortly thereafter, REALTOR® B received an offer of $122,000 which he submitted to Client A, who rejected it. After the passage of four months, during which no further offers were received, Client A asked REALTOR® B if he would be willing to buy the lot himself. REALTOR® B on his own behalf, made an offer of $118,000, which the client accepted. Months later Client A, on a return visit to the city, discovered that REALTOR® B had sold the lot for $125,000 only three weeks after he had purchased it for $118,000.

Client A complained to the Board of REALTORS® charging that REALTOR® B had taken advantage of him; that he had sought REALTOR® B’s professional guidance and had depended on it; that he could not understand REALTOR® B’s inability to obtain an offer of more than $122,000 during a period of four months, in view of his obvious ability to obtain one at $125,000 only three weeks after he became the owner of the lot; that possibly REALTOR® B had the $125,000 offer at the time he bought the lot himself at $118,000.

At the hearing, REALTOR® B introduced several letters from prospects that had been written while the property was listed with him, all expressing the opinion that the lot was overpriced. The buyer who purchased the lot for $125,000 appeared at the hearing as a witness and affirmed that he never met REALTOR® B or discussed the lot with him prior to the date of REALTOR® B’s purchase of the lot from Client A. Questioning by members of the Hearing Panel established that REALTOR® B had made it clear that his offer of $118,000 in response to his client’s proposal, was entirely on his own account.

The panel concluded that since REALTOR® B’s own purchase was clearly understood by the client to be a purchase on his own account, and since the client’s suspicions of duplicity were proven to be unfounded, REALTOR® B had not violated Article 4 of the Code of Ethics.

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