by Nancy Sander

Fair housing poster must be displayed in place of business
HUD regulations require that real estate licensees display a fair housing poster at all of their places of business that participate in residential transactions. The regulations also require that the poster be displayed by multiple listing services, real estate brokers' organizations (such as local, state, and national boards of REALTORS®), and other services, organizations, and facilities relating to the business of selling or renting dwellings.

The location of displayed posters must be readily apparent to persons seeking to engage in residential real estate-related transactions or brokerage services. Failure to display the fair housing poster will be deemed prima facie evidence of a discriminatory housing practice in any fair housing complaint. You may obtain fair housing posters free of charge by calling 800/767-7468, by faxing your order to 202/708-2313, or by visiting the poster category of HUD's Direct Distribution System at https://www.hud.gov/dds/index.cfm. Ask for form number HUD-928.1, "Equal Housing Opportunity (Poster)."

Although a facsimile of the poster may be used, the facsimile must be the same size as HUD’s poster—11 by 14 inches. The size and legibility of lettering on a facsimile must also match that of HUD's poster.

Named Exclusions Addendum provides several options
Have you ever used the special provisions paragraph of a listing agreement to exclude certain potential buyers or tenants? Consider using TAR's Named Exclusions Addendum (TAR 1402) instead. The addendum not only lists potential buyers or tenants with whom the owner has had previous contact, but also covers other important aspects of these peculiar deals.

Paragraph D provides for the termination of the listing agreement if the owner enters into a contract with a named exclusion. This includes the cessation of marketing the property to other prospects as well as any further negotiations or closing assistance with regard to the named exclusion.

Paragraph E details the owner's duty to keep the broker informed of communications with named exclusions, so the broker will be notified of circumstances that trigger other provisions of the addendum.

Finally, Paragraph C spells out just how long a named exclusion will remain excluded. If that were not enough, it also provides a means by which a broker may still receive compensation even if the owner ultimately closes the deal with a named exclusion.

The next time you find your pen heading toward the special provisions paragraph of a listing agreement, take a moment to discover how TAR’s Named Exclusions Addendum can help you.

Nancy Sander is associate counsel for TAR. E-mail her at nsander@tar.org