The most comprehensive study of legal issues and trends will provide Realtors with a wealth of information about the many emerging areas of agent/broker liability in real estate transactions, employment relations, fair housing and property management, according to the National Association of Realtors.

The Legal Environment Scan study was conducted for NAR by the Legal Research Center, Inc. (LRC), in Minneapolis, Minn., one of the nation's most recognized leaders in providing legal research and writing services.

"This latest Scan is the most far-reaching study ever performed regarding liability trends in the real estate industry," NAR President Dennis R. Cronk said. "This study was a very ambitious undertaking and we are delighted with the outcome. The valuable legal information gleaned from this study will be used to help NAR plan and develop risk management and educational programs for our membership," Cronk added.

The study will be available to NAR's members in a print form and in a searchable format on a CD, which also includes numerous helpful links to the association's Web site. In addition, LRC will update the study's legal research in the database every quarter, and produce a new report during the first part of 2001, Cronk noted.

The Scan, which covers 87 individual legal issues, encompasses three major components: a survey of real estate professionals; a survey of state real estate regulatory commissions; and a survey of case law, new statutes and regulations for the previous two-year period. The information collected from the survey is contained in a database and may be used to develop statistical reports and written analysis of issues.

"LRC and NAR have collaborated to develop this new resource that allows any of NAR’s more than 750,000 real estate professionals to quickly access information about recently enacted statutes and recent court decisions on a wide variety of real estate topics," LRC President James Seidl said.

"Since real estate is an active area of commerce, NAR’s members are facing new issues and emerging legal requirements on a regular basis. With this tool, NAR will be able to keep its membership updated on new legal developments.," he added

To order the Legal Environment Scan, contact Cherie Chidichimo in NAR's Legal Affairs Department, 800/874-6500. The cost to order a print version is $25 per copy. The cost to order a CD-Rom is $15 per copy.

Published: June 29, 2000

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