The Pacific Southwest Association of REALTORS® (PSAR), a trade group for San Diego-area REALTORS®, recently heard a legal update from Gov Hutchinson, assistant general counsel with the California Association of REALTORS® (C.A.R.).
In a private meeting with brokers, Hutchinson discussed a variety of topics, including commission sharing agreements, signage guidelines for sales teams, independent contractor status and legal updates affecting persons in supervisory roles.
With PSAR members, Hutchinson discussed new laws and tax issues affecting short sales, as well as rule changes on disclosure and loan documents and other transaction forms.
He also provided the latest information on the Truth-in-Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA). C.A.R. supports the efforts of the Consumer Financial Protection Bureau (CFPB) to simplify the disclosure process and to provide better information to consumers in a straightforward and simple-to-understand format.
“The real estate profession becomes more complicated every year,” said Hutchinson, who supports PSAR in its efforts to provide the latest industry information to its members.
A 30-year employee at C.A.R., Hutchinson manages C.A.R.’s Member Legal Services Program and C.A.R.’s Legal Hotline, which advises REALTORS® on aspects of real estate law. The hotline answers about 400 calls a day, an increase from 70 calls a day when Hutchinson joined C.A.R. in 1985.
Pictured above (left to right) are Carey Guthrie, PSAR 2015 President, Gov Hutchinson and Anthony Andaya, PSAR 2015 President Elect.