DBR Clarification Re: Changes to Electrical Licensing Requirements

March 26, 2025- DBR Bulletin

"Changes to the Electrician Licensing requirements in R.I. Gen. Laws § 5-6-2, effective January 30, 2025, may have caused some confusion as to how and if this impacts the ability of a Real Estate Appraiser, Broker or Salesperson to test the functionality of electrical switches, outlets and appliances in a property that is for sale, rent or is the subject of an appraisal.

 Appraisers and Real Estate Licensees may test electrical functionality by turning switches on and off, screwing in a light bulb, plugging in something to an outlet, and turning appliances on and off. This activity checks the normal functionality of the property and does not fall within the scope of licensed electrical work."

Compensation Questions: Net Sale and Closing Costs

The RI REALTORS® Legal Hot Line has been receiving questions about net compensation and seller-paid closing costs. 

▪Net compensation: If you want your compensation to be based on a net sale, make sure to define clearly in the purchase and sales agreement, buyer contract or listing contract how it will be calculated. 

NAR Announces New CCP Policy to Take Effect by September 30th

On March 25th, State-Wide MLS and the RI Association of REALTORS  learned of a new Clear Cooperation Policy unveiled by NAR.   State-Wide MLS leadership will need time to review the policy in context with our local rules to determine what, if any, changes need to happen.  A legal briefing from NAR's legal team with Association legal staff will be held on Thursday, March 27th, and we will share more information as it becomes available.  The deadline for implementing the changes is September 30, 2025.   

R.I. Home Sales Dip In February

WARWICK, R.I. - March 21, 2025 -In February, single-family home sales in Rhode Island fell 8.8% from February 2024 continuing a twelve-month trend in vacillating sales activity. Pending contracts fell by 10.1% year-over-year, an indication of waning buyer demand and closed sales in the month or two ahead. The median price of single-family homes continued to rise, although more moderately.