by Alex Long

Take control when it seems you have lost control; and events and relationships appear to spiral beyond repair. The parties, working with a mediator, themselves can create solutions, which gives them control over the outcome.

Absent participation in mediation, a dispute over commission might have to go to arbitration, if it meets the requirements. At arbitration, a panel, in a hearing, which is generally adversarial between the parties, will make the final decision. And the panel makes the final decision, subject only to a very limited review. A court system of litigation is excruciatingly expensive both in terms of money and the emotional toll.

Mediation, in contrast to a formal hearing, presents another path: the parties must commit to not an adversarial posture, but a cooperative spirit, a conciliatory atmosphere, to resolve sharp differences. Adversarial or cooperative, the choice is stark. The parties must at least try to formulate solutions. Differences and hurts are real and must be addressed. How the wounds are made worse or healed, is found in the choice of the process chosen.

Attitude is crucial. A format or framework to work within is priceless. Mediation is voluntary and provides a mechanism, by which the individuals can jointly work to salvage a solution. A process and a mediator are provided through your REALTOR® Association, FAAR, if conditions are met. Article 17 of the NAR Code of Ethics contains the basics. CEO Pat Breme can be consulted as to whether circumstances warrant mediation thru FAAR. If not, private firms offer mediation. Again, the process chosen can make a huge impact upon outcome.

The mediator must be someone the parties trust and who can provide fair, unbiased leadership in leading the parties to effective communications and hopefully a mutual resolution. Only the parties themselves can arrive at the resolution of differences; the mediator cannot command or force any solution. Mediators cannot provide any legal advice or other expert opinions such as accounting, etc. The parties can terminate the mediation at any point. Individuals can consult legal counsel. Confidentiality must be maintained by the parties and mediator. Information in a mediation cannot be used by one party against another at a formal hearing or other venue.

Although not a ‘get out of jail’ card, mediation might be possible for some ethics controversies. Not eligible are ethics issues of betrayal of public trust: “…misappropriation of client or customer funds or property, willful discrimination, or fraud resulting in substantial economic harm.”; and/or as the standards are updated by NAR. It is possible for remedies to range from a simple but sincere apology to requirements for financial payments, fines, completing education, or other actions.

Settlements must be in writing. The parties can consult legal advice before agreeing to the document. Settlements are enforceable by judicial action, should the party prevail.

Voluntary action, a choice to cooperate, is the basis for mediation. What holds it all together can be an amalgamation of hope overcoming fear of the unknown imposed by others; a sincere desire to take a better path; or perhaps an ego that compels the protagonist to do a better job at fixing a problem than others who are unknown and probably not as smart as themselves.

The NATIONAL ASSOCIATION OF REALTORS® proudly introduces the Center for REALTOR® Financial Wellness, a new online resource designed exclusively to meet the specific financial planning needs of REALTORS®. This new, comprehensive program includes interactive, step-by-step guides to help members achieve financial security through planning and diversifying their savings, including through real estate investing.

The website offers members

• A quick and easy check-up to evaluate their current financial profile
• Customized recommendations and personalized goal tracking
• A simulation that allows members to practice financial decision-making and see the results in a risk-free way
• Calculators, budget planners, and work sheets
• Education on monetizing their book of business upon retirement

Members can visit www.FinancialWellness.realtor to take an online assessment, receive personalized financial planning goals, practice financial planning decisions in a risk-free way and explore a robust library of budgeting, retirement, and real estate investing resources.

Introducing the Newest Award

The Awards Committee announces the newest award to the FAAR roster of member recognitions, the Icon Award. Do you know a Realtor® who can be described as an icon who currently is or was a member of FAAR? The award will be given at the December installation of the 2019 Leadership Team and since we are looking back into the history of FAAR, there may be several recipients who will be recognized for making a significant contribution to real estate in Fredericksburg.

The criteria states, this honor is awarded to a REALTOR® who has made a significant mark on the profession of real estate in the locality where he or she works. The Nominee’s name is recognizable to the community at large and is synonymous with exemplary ethical behavior and knowledgeable and compassionate service to clients and customers. The individual is highly respected by the REALTOR® community. The Nominee is generous with his or her time supporting community organizations/project/programs. The application requests the following information:

List examples exemplary ethical behavior:

List examples of knowledgeable and compassionate service to clients and customers:

List examples of the respect that agents in the REALTOR® community have for this individual:

List examples of the respect that community leaders have for the Nominee:

List examples of how the Nominee is generous with his/her time supporting community organizations/project/programs: 

List notable activities/accomplishments/recognitions from REALTOR® organizations or civic organizations:

Additional comments/testimonials

Deadline for application submission- October 31, 2018

But wait there’s more!

Consider nominating for one of these Fall Awards

Spirit Award
The recipient motivates others, through enthusiasm and participation, to attend events. The recipient may serve on a committee or just answers the call for help. The recipient is reliable and shows up! An eligible recipient can also be a more reserved person who quietly takes on tasks, e.g. transporting props to events, participating in the set-up, tear down and clean up without fanfare.

Raising the Bar
Criteria for this award include: General interest in subject of REALTOR® professional standards; availability and willingness to counsel and advise individual REALTORS®, brokers, and sales associates on real estate problems; presentations on ethics before FAAR and other Associations; service on Grievance and/or Professional Standards Committee.

Affiliate of the Year
Criteria for this award include: Must be an Affiliate member of FAAR, provided exceptional service to FAAR, its members and the general public, exhibited unusual dedication to the real estate profession, shown a high degree of Association participation, as well as activity in civic affairs.

Good Neighbor Award
This award is intended to recognize individual who has given significant contribution of time or other resources contributions to the local community. The efforts do not have to be real estate related. Will be awarded based on a level of personal contributions, broadness of impact, and the project’s suitability as a role model for other association members.

Hall of Fame
Criteria for this award include: length of membership in FAAR; elective offices held and committees on which served; areas in which nominee served the real estate industry through involvement with NAR and VAR committees. Nominations may come from Board of Directors or Awards Committee.

Silver Circle
Automatically awarded to those REALTOR® members after 25 years of continuous membership in FAAR

REALTOR® Emeritus Award
Awarded by NAR to those REALTOR® members after 40 years of continuous membership in FAAR

Deadline for application submission- October 31, 2018. Print and electronic applications are available online at faarmembers.com/awards.