The Letter of Good Standing is a helpful tool when applying to another association as a Secondary Member.
If you are transferring to WCAR, you will want to provide us with a Letter of Good Standing from your previous association when submitting your online application.
If you are transferring from WCAR to a new association, you will want to fill out the below request so we can send that to you and your new association.
A Letter of Good Standing, also known as a Dues Waiver Letter, refers to a notice issued by the REALTOR® association with which a real estate licensee has a current or former relationship. It verifies that the active REALTOR® has complied with all of the associations’ rules and bylaws for conducting business within that association. A Letter of Good Standing will contain information confirming that a licensee is up-to-date on National, State, and/or Local association dues; includes the licensee’s state license and the firm the license is affiliated with; confirms the licensee has satisfied NAR’s mandatory requirements; and states whether the licensee has current/pending disciplinary action or unsatisfied fines with the association.
In short, a Letter of Good Standing serves as proof of a licensee’s membership compliance status.
Staying in good standing is essential. It’s far better to do what’s required to keep a good standing status at all times.
Most REALTOR® associations, recognized and registered within the United States and its territories, can request a Letter of Good Standing.
REALTOR® agents in all states have compliance requirements to fulfill to stay in good standing. The responsibilities can vary from state to state.
Common requirements for staying in good standing with the association include:
· Paying association dues renewal on time (national, state, and local dues)
· Complying with the NAR Code of Ethics
· Keeping business and professional licenses current
· Maintaining as a registered agent
· Following all association rules and bylaws, including the mandatory Code of Ethics training requirement
If you’re unsure of whether you have completed the mandatory Code of Ethics training during the current cycle, you can review your records with NAR on REALTOR.org.
For your information, there are some associations that will not allow an agent to conduct business within their boundaries if the agent isn’t in good standing with their previous or primary state/local association(s). If the agent hasn’t paid their annual dues, has been inactive for more than 30 days or has pending/disciplinary actions, they are NOT in Good Standing and WCAR will state that in the letter. WCAR will NOT generate a Letter of Good Standing for licensees who have been inactive for more than 3 months.
A Letter of Good Standing can be obtained for:
1) Transfer to another REALTOR® association,
2) Secondary or tertiary membership at another REALTOR® association,
3) Access to another Multiple Listing Service,
4) Access to utilize other forms of lockbox equipment within the state,
5) DMV REALTOR® license plates,
6) Utility or other companies that provide various discounts to REALTOR® s
Depending on the entity receiving the Letter of Good Standing, they may require that the letter be dated no later than 30, 90, or 180 days from the date the letter is delivered. WCAR recommends that you ask the entity requiring the Letter of Good Standing regarding how recent the letter must be dated before submitting the Letter of Good Standing.
A Letter of Good Standing is free. WCAR can issue them promptly online. Most letters can be issued immediately, but in no event will the process take more than a few days.
As mentioned earlier, it’s much less stressful and problematic when an agent stays compliant from the start and keeps in the good graces of the association.
The steps for getting reinstated vary from association to association. Generally, they include:
1. Find out why the agent fell out of compliance.
2. Pay outstanding, fines, and fees; and file any other required compliance documentation and take the necessary courses for reinstatement.