Insight | November 2024

THE VOICE OF REAL ESTATE IN NORTH CAROLINA

VOL 103 NO 4 | NOVEMBER 2024

Bowties & Bold Moves Tony Harrington’s Leadership in a Landmark Year

Plus

+ Tony’s Year in Photos Celebrating Member Resilience + The Legal Hotline’s Biggest Questions Post-NAR Settlement

November 2024 Insight, Volume 103, Issue 4 President Tony Harrington, ABR®, ALHS, AHWD, C2EX, CIPS, CLHMS, CRS, GREEN, PSA

Treasurer Renee Cooney, ABR®, AHWD, C2EX, GRI, RENE, SRES®, WHS

President-Elect John McPherson, ABR®, AHWD, C2EX, CRS, e-PRO®, GREEN, GRI

Immediate Past President Leigh Brown, ABR®, AHWD, C2EX, CIPS, CLHMS, CRS, e-PRO®, SFR®, SRES®

Regional Vice Presidents Region 1: Kim Perkins, Jacksonville Region 2: Amanda Parmer, Wilmington Region 3: Laurie Linder, Fayetteville Region 4: Grace Jones, Durham Region 5: Pam Webb, Archdale Region 6: Paul McGill, Winston-Salem Region 7: Dennis Bailey, Shelby Region 8: Aric Beals, Charlotte Region 8: Josh Tucker, Mooresville Region 9: David Noyes, Arden Region 10: Tim McBrayer, Raleigh Region 10: Leslie Williams, Youngsville At Large Representative: Guy McCook, Laurinburg Chief Executive Officer Andrea Bushnell, Esq., AHWD, CIPS, RCE

4 Bowties & Bold Moves 2024 President Tony Harrington guides REALTORS® through unprecedented challenges.

8 Tony’s Year in Photos A recap of Tony Harrington’s journey and connection with members across the state.

14 Under Pressure The Legal Hotline’s biggest questions post-NAR settlement reveal the most pressing concerns facing REALTORS® today.

Vice President of Communications & Marketing Mckenzie Allen, AHWD, C2EX Creative Development Manager Joe Fallon Content Marketing Coordinator Aliyah Ross, C2EX Multimedia Coordinator/Staff Photographer Doug Klesch Contributors John Wait For advertising information, visit ncrealtors.org/advertise or contact Keri Epps-Rashad at (336) 217-1049.

INSIGHT (ISSN 24714127) (USPS 17170) is published four times a year in February, May, August and November by NC REALTORS®, 4511 Weybridge Lane, Greensboro, NC 27407. Periodicals Postage Prices paid at Greensboro, N.C. and additional mailing offices.

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Bowties & Bold Moves

Tony Harrington’s Leadership in a Landmark Year

BY LEE NELSON Lee Nelson is a freelance journalist from Illinois. She writes for REALTOR® Magazine, several state REALTOR® Magazines and websites, and loanDepot.com.

Tony Harrington’s career took off in the skies, working as a flight attendant, flight service instructor and later as an international flight service manager for American Airlines.

Along the way, he noticed an interesting trend—many of his colleagues were also part-time real estate agents, balancing their love for flying with a passion for property.

“I thought it was intriguing, especially the flexibility in their schedule,” says Harrington, the 2024 president of NC REALTORS®. Now, he’s the managing broker for Corcoran HM Properties in Wilmington.

Harrington earned his real estate license in 1996, just as the internet was beginning to reshape the industry. “But you still had to come into the office to pick up a key,” he recalls.

What began as a curiosity turned into a full-time career, and Harrington can’t imagine doing anything else. “In my 20s, I saw the world and was able to see something bigger than myself. It’s the same in real estate,” he says.

Finding His Footing in Leadership

Harrington’s path to leadership in real estate didn’t begin right away. Patrice Willetts, a broker in his office, was initially interviewed by Harrington when she switched to his brokerage.

“But she ended up interviewing me,” Harrington recalls. “’What are you doing?’ she asked. I had been in real estate 17 years before I did any volunteer work.” Willetts quickly became his colleague, mentor and the person who took him to his first national REALTORS® convention, an experience 4 INSIGHT • November 2024

What matters is that we keep moving forward, together.

that transformed his outlook on getting involved. Willetts served as president of NC REALTORS® in 2013.

“She had been there, and she knows the changes that can happen. She’s been a grounding source,” Harrington says.

“If you get into leadership, find a mentor who is realitybased and grounded.”

As Harrington became more involved in the REALTOR® community and its associations, he started to see the bigger picture and the numerous volunteer opportunities available.

Willetts says that if you know this man at all, you know that the term, “It ain’t done till it’s overdone,” follows him.

“Details matter,” she adds. “As impeccable as he is in his attire, I’ve seen him jump into a dunking booth in a suit and bowtie for an RPAC (REALTORS® Political Action Committee) fundraiser. He’s even worn an old-fashioned men’s swimsuit for a dunking booth and goes all out for a Halloween costume party.”

Willetts believes that when someone steps up to serve, it’s important they do it for the right reasons: to bring focus and serve the organization’s needs.

“Tony does exactly that. The state association and its members can rely on him. He’s always prepared and doesn’t just wing it,” she says.

Guiding Through Change

Stepping into the role of president was a bit overwhelming at first, Harrington confesses. Immediate past president Leigh Brown recognizes the pressure. “This is such a stressful year, but he’s worked so hard to be calm and available, and that’s key,” she says.

Brown’s advice to him was to always bring future leaders along for the journey, ensuring no one is left in. “It’s how we keep the momentum going,” she adds. Harrington understands that leaders often come in with an agenda in mind. “But quickly, the market will tell you where you are going and how you’ll react,” he remarks. “It taught me to be calm, patient and supportive to those around me.”

He likens it to his time as a flight attendant. “The passengers are first looking for you, your facial expression and your reactions if there are problems in mid-air,” he emphasizes.

In real estate, the biggest lesson learned is that the sky isn’t falling. “We will navigate the intricacies in our market, and we are all in this together. We’ll move through it all one day at a time,” he adds.

One of Harrington’s most fulfilling moments as president has been witnessing the resilience of members across the state. “There’s been a lot of change this year from the national way of doing business because of the lawsuit, changes in forms and processes, and changes in the way we communicate,” he states. “I’m so proud of how REALTORS® are jumping in and moving with the changes, adopting ncrealtors.org • INSIGHT 5

“We’re seeing record numbers of new members across the state,” he continues. “With better education, our REALTORS® are more equipped to handle the market’s ups and downs. Some years are good, and others are just okay—you have to plan for both.”

John McPherson, NC REALTORS® president-elect, credits Harrington for his dedication to shaping the right narrative for members and the public. “He has traveled the state to be there for the membership,” says McPherson, Broker at Coldwell Banker Advantage, Winston-Salem. “The issues he has tackled this year probably should have been over a several-year period, but came all at once.”

McPherson describes Harrington as a “great” president with a calming presence. “He’s taught me patience. He’s caring, giving and I look forward to seeing him finish the year strong,” he says. them and being smart and creative out there. Resiliency is the biggest thing I see across the state.”

Amplifying REALTOR® Value

The statewide public awareness campaign, Our REALTORS® Know, was initiated last October, but it officially launched in April.

“It’s a multi-faceted campaign with print, social media, billboards, airport ads and more,” Harrington says. “We advertised in every market, highlighting the value of REALTORS®. It’s one of the most impactful initiatives we’ve put into play.” As soon as the South Carolina REALTORS® saw what their neighboring state was doing, they asked to come on board.

“We partnered with them on the materials and branding. It’s important for neighboring states to collaborate, especially since many REALTORS® are licensed in two states,” Harrington explains. “The campaign runs year-round, and the website, ncrealtorsknow.com, offers resources like videos, testimonials and real consumers sharing how REALTORS® helped them in their transactions.”

NC REALTORS®’ theme for 2024 is Discover, Grow, Lead, which emphasizes the vital role REALTORS® play in the housing industry. “Coming into this year with national lawsuits, we quickly realized more than ever that REALTORS® needed to scream from the rooftops our value when talking to consumers and the value we bring to the profession,” he states. “We needed to internally grow the services and programs offered, and we have so much offered from the state and national levels. If we don’t grow, we become stagnant.”

Harrington also stresses the importance of leading by example, living by the Code of Ethics and educating the next generation of REALTORS®.

6 INSIGHT • November 2024

Building International Bridges

Harrington played a key role in launching the NC REALTORS® Global Network, a subcommittee under the association’s Economic Development Committee. Due to its rapid growth, the network is set to become a freestanding committee in 2025.

“At its core, the network is designed to make the global real estate market more accessible, profitable and ethical for NC REALTORS®,” says Jason Gentry, current chair of the Global Network and a Global Real Estate Advisor at Premier Sotheby’s International Realty in Charlotte.

Gentry, who has known Harrington for about five years, reflects on their connection. “While it’s a newer friendship for me, it feels like I’ve known Tony for ages,” he says.

This year, they attended the MIPIM Conference in Cannes, France, the largest international real estate event in the world, representing 90 countries and over 20,000 delegates.

“Traveling with Tony to such a prestigious event always reminds me to show up: well-dressed, prepared and polished—but authentic,” he states. “Tony has a way about him that is engaging no matter what language one speaks or customs they follow, which is particularly important when you are speaking to an international audience.”

Gentry adds that he’s learned a lot about real estate from Harrington, including the mantra “don’t stop.”

“Tony is the guy who puts in 110 percent effort until the very last second. He’s a true business visionary,” he adds.

“Tony is a natural connector, always thinking outside the box on how relationships can be meaningful, whether they lead to business partnerships or just new friendships in the business.”

NC REALTORS® | Redefined Episode 65 Hear President Tony Harrington and PR strategist Chris Sinclair discuss the “Our REALTORS® Know” public awareness campaign, highlighting the invaluable expertise NC REALTORS® bring to the table.

Championing REALTOR® Advocacy

This year, the topic of insurance rate hikes resurfaced, as it does every few years. “Because of the coastline and flood areas, we were fighting a big fight with flood insurance and insurance in general,” he states. “I live on the coast, and when the rate suggestions came out from the insurance commissioner, prices were going up 99 percent in my area.

That’s just an example of what coastal areas face.”

The NC REALTORS® advocacy team quickly lobbied and issued a call to action, and members responded.

“Fortunately, the insurance commissioner heard us and had it removed. We have not seen that rate increase. We are waiting for further conversation,” he says.

Harrington emphasizes that NC REALTORS® advocacy and legislation efforts directly impact members’ bottom lines, from taxes on services to various fees in certain regions.

The association’s website offers a financial calculator where agents can input their annual earnings and transaction volume to see exactly how much they’ve saved from these advocacy efforts. “It’s like an aha moment. I realized where my money was going to help legislation and to help real estate causes,” he adds.

Savings calculator

Finding Balance

Outside of work, Harrington and his husband, Edward Alexander, have been together for 28 years and live in Wilmington with their 10-year-old Corgi, Watson. Harrington fondly reflects on their shared interest in collecting McCoy pottery and his time as president of the national McCoy Pottery Collectors’ Society.

“They are amazing individually, but even more wonderful together,” Gentry says of Harrington and Alexander. “And Tony’s bowtie—legendary.”

As a kid, Harrington competed in speed skating and water skiing. “It was fun,” he recalls. These days, he finds joy in his work and his many volunteer efforts.

“If I’m not working, I’m volunteering,” he says. Harrington is actively involved in local organizations, including a theater group, animal rescue and food banks. “There are a lot of different arenas we get involved with,” he adds.

Passing The Torch

Harrington’s advice for future leaders is clear: lean on your staff and listen to your members.

“Leadership is about how you react to adversity. Your members are watching,” he says. He hopes to leave behind a sense of calm and assurance for the future.

As his tenure draws to a close, Harrington remains optimistic about the future of NC REALTORS®. “Not everyone will be happy with every decision, and that’s okay,” he says.

“What matters is that we keep moving forward, together.”

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“This is such a stressful year, but he’s worked so hard to be calm and available, and that’s key.”

Leigh Brown

8 INSIGHT • November 2024

“He’s taught me patience. He’s caring, giving and I look forward to seeing him finish the year strong.”

John McPherson

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“Tony has a way about him that is engaging no matter what language one speaks or customs they follow, which is particularly important when you are speaking to an international audience.”

Jason Gentry

“As impeccable as he is in his attire, I’ve seen him jump into a dunking booth in a suit and bowtie for an RPAC (REALTORS® Political Action Committee) fundraiser. He’s even worn an old-fashioned men’s swimsuit for a dunking booth and goes all out for a Halloween costume party.”

Patrice Willetts

10 INSIGHT • November 2024

ncrealtors.org • INSIGHT 11

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ncrealtors.org • INSIGHT 13

UNDER PRESSURE The Legal Hotline’s Biggest Questions Post-NAR Settlement BY “LEGAL JOHN” JOHN WAIT General Counsel

Oof! A lot has happened since the last legal update in this magazine. I don’t know if it’s been a concerted effort or not, but you guys have put the Legal Hotline through a major stress test. We survived – sort of. Let’s just say my already thinning hairline didn’t stand a chance. But, hopefully, we helped you avoid some of the biggest landmines as the new MLS rules rolled out.

In this article, we’ll dive into some of the most common questions still coming through the Legal Hotline, specifically related to changes following the NAR settlement.

1.

W hen should I check the “Seller” box in paragraph one of Form 220 (Cooperating Compensation Agreement)?

Answer

to be effective. However, as a best practice, all parties should sign to ensure everyone understands how compensation will be paid. Weekly Q&A dated 8/8/2024.

2.

hat if the listing firm does not communicate with W me? How can I submit my buyer’s offer if my buyer needs help paying my compensation?

Answer

We consulted with Regulatory Affairs at the Commission. They have said that you might consider, as a final resort, submitting your buyer’s offer to the listing agent along with a separate proposed Form 220. This means, for example, you could email your buyer’s offer to the listing agent in an email where an Offer to Purchase and Contract (Form 2-T) and Form 220 are both attached to the email but as separate documents.

Whoever is paying the cooperative compensation should be checked in paragraph one. For example, if the seller has authorized cooperative compensation in a listing agreement, then the “Listing Firm” box should be checked in paragraph one. This is because the cooperative compensation will be paid from the proceeds the seller is paying to the listing firm.

If the seller has not authorized cooperative compensation in the listing agreement, but later agrees to pay cooperative compensation directly to the buyer agent, then the “Seller” box should be checked.

If the buyer directs you in writing, you may explain, in the email or other writing, that the buyer’s offer is contingent on the seller’s or listing agent’s separate agreement as to cooperative compensation. Agents are strongly recommended to consult with their BIC and legal counsel to make sure any such conditional language used in this scenario will be effective and achieve the intended result. As an additional safeguard, however, you may send the offer to the listing agent unsigned by the buyer. Weekly Q&A dated 8/8/2024.

Paragraph 3 of Form 220 makes clear that the party checked in paragraph one and the selling firm must sign for Form 220

oes the Zillow Touring Agreement comply with D MLS Rules and the License Law in North Carolina?

14 INSIGHT • November 2024

3.

Answer

Regulatory Affairs at the Commission has reviewed and approved the most recent touring agreement from Zillow for compliance with their rules. The updated form also contains the terms and disclosures mandated by the NAR settlement.

The specific terms needed in any written buyer agreement are described in detail in an article titled “Written Buyer Agreements 101,” which can be accessed on NAR’s website.

If your firm has a custom touring or showing agreement, it must also comply with the License Law. It should also be noted that NCR will likely release new forms and updates to existing forms periodically during this forms cycle before July 1, 2025. As of the writing of this article, the Forms Committee is hard at work considering its own version of a touring or showing agreement as well as important changes to the standard form buyer agency and listing agreement. To stay abreast of these updates as they come out, please be sure to subscribe to the REALTOR® Rundown and make sure it’s not going to your spam folder!

Weekly Q&A dated 8/15/2024.

4.

When do I need a written buyer agreement?

Answer

the buyer agent and come to an agreement, then the listing firm may be in violation of Article 3 of the Code of Ethics if they later attempt to unilaterally change the agreement for cooperative compensation. Agents should also bear in mind that both the Code of Ethics and the License Law prevent agents from using their client’s offers or counteroffers as weapons to interfere with another broker’s agency agreement.

Weekly Q&A 9/5/2024.

6.

he closing attorney and my buyer’s lender have T asked that I provide them with the buyer agency agreement. Is this allowed?

Answer

Brokers should promptly share agency contracts with the lender and closing attorney involved in the transaction upon request. Failure to inform the lender of the buyer’s financial obligations and closing costs might result in the buyer being unable to close due to insufficient funds. Additionally, closing attorneys may request to see all contracts between the parties and their agents, along with any cooperative compensation agreements, to ensure a full and accurate representation of the transaction on all closing documents. Weekly Q&A dated 8/29/2024.

You need a written buyer agreement any time you are “working with” a buyer and are getting ready to tour a property, either virtually or in person. Up until showing, you may continue to work with a buyer under oral buyer agency. “Working with” means providing the buyer services as the buyer’s agent. So, if you are a listing agent or a seller subagent (an agent who is helping the buyer but actually only represents the seller), then you do not need a written buyer agreement.

In North Carolina, written buyer agreements must also be agency agreements under the License Law. Listing agents that are conducting open houses need written buyer agreements if they are potentially offering dual agency to prospective buyers who are not already under agency. Weekly Q&A dated 8/15/2024.

5.

an a listing firm change cooperative compensation C once a buyer’s offer is received?

Answer

It depends. If a listing firm has advertised that cooperative compensation will vary depending on a buyer’s offer, then this is not a blanket offer of cooperation. Instead, the listing firm has made clear that cooperative compensation will depend on what the buyer’s offer says. It stands to reason that any offer of cooperative compensation will vary and may change even after the buyer’s offer is submitted. If the listing firm has made a blanket offer or negotiated cooperative compensation with

LEGAL HOTLINE NC REALTORS® have free, unlimited access to the NC REALTORS® Legal Hotline. Did you know one call to a real estate lawyer costs an average of $300 per hour? With just one call to the Legal Hotline, you’ve paid for one year of NC REALTORS® dues in full. Don’t waste your time stressing over forms, disclosure or landlord/tenant law. Call the NC REALTORS® Legal Hotline to get quick resolution, so you can return to your clients and your business.

PHONE: 336.294.1415 EMAIL: legalhotline@ncrealtors.org

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