KREC Updates Administrative Regulations

The Kentucky Real Estate Commission has revised its administrative regulations and required forms. The changes are in effect now, with the exception of the advertising regulation that will go into effect on June 16, 2020.

To view the KREC regulations, visit the Kentucky Legislative Research Commission website https://apps.legislature.ky.gov/law/kar/TITLE201.HTM and scroll down to Chapter 11. (Two of the regulations, Professional Standards and Licensing, Education, and Testing still appear as "marked up" versions. We expect "clean" versions of those to appear soon.)

The new KREC required forms are still pending. As soon as the final versions are published, we will make them available on Transaction Desk. At their January 16, 2020 meeting, the Commission voted to provide a grace period for Kentucky licensees that will give them until June 1, 2020, to use the new forms. Even though the new forms are now in force, no penalty will be assessed for using incorrect forms until then.

The Government Affairs Director of Kentucky Realtors® has prepared this summary of changes which may be useful. Click here to view https://www.louisvillerealtors.com/it/krec.pdf.

Updated RFP-6300 Dutchmans Pkwy

The Greater Louisville Association of Realtors® is soliciting highest and best offers on the property located at 6300 Dutchmans Pkwy subject to the attached Request for Proposal. If there is a particular condition in the Request for Proposal that you consider challenging please reach out to discuss.

Now accepting request for proposals

The Greater Louisville Association of Realtors® is accepting request for proposals for the sale of its building at 6300 Dutchmans Pkwy. Click below to access the RFP. Commission is being paid.

Next Up: Insights on 1031 Like-Kind Exchanges

Sharing an upcoming webinar for commercial and investment practitioners on Tuesday 6/16/2020 at 10:30am CST. The session, Next Up: Insights on 1031 Like-Kind Exchanges, will feature Evan Liddiard, NAR's Director of Federal Taxation, covering updates on 1031 Like-Kind Exchanges, including the latest relief from the IRS on meeting transaction deadlines during the pandemic. Bonus: Evan will also cover recent IRS deadline relief provisions for investments in Opportunity Zones and ways the program could be broadened. Register in advance: https://realtors.zoom.us/webinar/register/WN_J5NM5jJPRWaTMnqYSG5BCg

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Charlie Dawson
Vice President | Engagement
NATIONAL ASSOCIATION OF REALTORS®
Email: cdawson@realtors.org |
Office: 312-329-8284| Mobile: 202.604.2020