Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, May 16, 1993                   TAG: 9305180183
SECTION: AMERICAN HOME WEEK                    PAGE: 10   EDITION: METRO  
SOURCE: By ANNE PIEDMONT
DATELINE:                                 LENGTH: Medium

EDUCATION FOCUSING ON CHANGE IN REAL ESTATE BUSINESS

This year's efforts, says Chairman Diana Crabtree, a Roanoke Valley REALTOR, have been largely devoted to buyer agency, a change in the real estate business which will go into effect nationwide July 1. Crabtree noted that the change may take place a little earlier in the Roanoke Valley.

Under the current system, the listing agent typically represents the seller, as do all the other agents (about 1,000 locally) who work through the listing agent. After July 1, the seller will be given the option of also working with the buyer's agents.

"It's a little confusing to the agents," Crabtree said, but added that she believes the change is a good thing, which will "make us all better agents".

The change might be somewhat less confusing to the general public, she said, since people tend to feel like "their agent" is working for them when they buy a home. A buyer may have known a REALTOR for years and feel an emotional bond to him or her, but up until now, the REALTOR has been legally bound to the seller.

In addition to causing the real estate community to become accustomed to a new way of doing business, the buyer's agent option necessitates changes in the forms used in a real estate transaction, as well as changes in policies at individual firms, said Crabtree.

She gives high marks to her fellow REALTORS for coming together to work toward this change, especially since the market is very active and spring is typically a busy time of the year.

The Education Committee has held 21 seminars so far this year. In addition to classes and lectures related to buyer's agents, the committee is responsible for the orientation given to new REALTORS. Crabtree said they usually are offered three to four times a year. A new REALTOR must attend such a session within six months of becoming a REALTOR. Orientation classes teach the new members about the Code of Ethics and professional standards, to which all REALTORS subscribe, as well as such topics as anti-trust, fair housing and how to use the MLS book.

All REALTORS and real estate licensees must attend special classes every two years, before his or her state license can be renewed.