Just days after Governor Brown signed several real-estate related bills into law, the Beverly Hills/Greater Los Angeles Association of REALTORS, which includes Culver City, held a breakfast meeting to brief REALTOR Brokers on how the new laws will impact their businesses.
The meeting also addressed the Realtor’s campaign in opposition to Measures H + HH in Santa Monica, changes to The MLS and ZipForms, and “Risk Management” strategies.
Sanjay Wagle, Senior Counsel Member Legal Services at the California Association of REALTORS® (CAR), presented attendees with a synopsis of the new laws, a recap of recent cases, and an overview of the new Residential Purchase Agreement form being released this November.
The new laws include: AB 2136, text messages and instant messages are not included in record retention requirements; AB 2018, team names and agent owned DBAs no longer require DRE approval, only county registration; SB 1171, agency disclosure forms must now be filed for all property types; AB 2430, seller must pay for certain HOA documents; and AB 2039, shill bidding no longer permitted and auction indemnity clauses have additional restrictions.
Kian Kaeni, Campaign Consultant at 21st Century Campaigns, discussed BH/GLAAR’s campaign in opposition to Measures H + HH, which would triple the Documentary Transfer Tax in Santa Monica.
The current Documentary Transfer Tax in Santa Monica is $3 per $1,000. Measures H + HH would increase this to $9 per $1,000, far above the county’s $1.10 per $1,000. The measures would increase taxes, traffic and construction, with no guarantee that the funds raised would be spent the way the city claims it will.
Fatima Sogueco, REBS Software Products Coordinator at CAR, told brokers of the many benefits they receive through ZipForms, including, MLS Connect ZipForms, Digital Ink, ZipVault, C.A.R. Sample Letter Library, etc.
Daniel Ortega and Manny Carillo of The MLS, discussed the website’s newest release, which included many changes aimed at making reports, emails, and other facets more user friendly.
Samira Kermani, Esq. gave a presentation on ‘Risk Management,’ providing strategic tips that aimed to reduce litigation and better equip office staff with preventative policies and procedures.
The 8,100-member Association serves the cities of Beverly Hills, Los Angeles, Santa Monica, Culver City and West Hollywood. Headquartered in Los Angeles, the organization was established in 1996.
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