NAM (National Arbitration and Mediation) resolves disputes between Realtors which 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 MLS Listing Agreement.
NAM affords disputing parties cost efficient access to some of the most highly qualified and respected Hearing Officers within New York State. NAM’s Comprehensive Rules and Procedures also affords disputants a sensible and timely process so that issues will be resolved in a timely fashion.Click below for printable versions of the following documents:
- NAM’s Comprehensive Rules and Procedures
- NAM’s Fees and Costs for Realtors and Homeowners (for 2 party cases)
- Demand for Arbitration (LIBOR)
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 REALTOR®.