NAM resolves disputes between realtors, including those who are members of the Long Island Board of Realtors, Inc. (also known as LIBOR), and property owners, who have agreed to arbitrate as provided in the Multiple Listing Service (MLS) Listing Agreement, using our exceptional panel of neutrals.
Rules, forms and fees
In utilizing a simple, low-cost fee structure, NAM affords disputing parties cost-efficient access to some of the most highly qualified and respected hearing officers within the state of New York. NAM’s Comprehensive Rules and Procedures also affords disputants a streamlined process, so that issues will be resolved in a timely fashion.
NAM’s Fees and Costs for Realtors and Homeowners (for 2 party cases)
The Multiple Listing Service of Long Island, Inc. (MLSLI) is a computerized network of more than 2,500 cooperating real estate offices, located across Nassau, Suffolk and Queens counties. Within this service, thousands of professional REALTORS®, both owner brokers and their sales associates, share listing and sale information, and work together to serve the buying and selling public. MLSLI is a wholly-owned subsidiary of the Long Island Board of REALTORS®. The Long Island Board of REALTORS®, Inc. (also known as LIBOR) is a 24,000-member not-for-profit trade association that serves real estate professionals throughout Nassau, Suffolk and Queens counties. LIBOR is the largest local REALTOR® Board in the United States. REALTOR® members subscribe to a strict Code of Ethics and Standards of Practice. Not every real estate licensee can be called a REALTOR®. LIBOR members may elect to participate in the MLS and are members of the National Association of REALTORS® (NAR) and the New York State Association of REALTORS®.