I hereby apply for DESIGNATED REALTOR^® membership in the Long Island Board of REALTORS^®, Inc (LIBOR).  It is understood that this application includes membership in the New York State Association of REALTORS^® (NYSAR) and the National Association of REALTORS^® (NAR) for me and any licensees that I have sponsored with the Department of State.   I have received and read LIBOR By-Law Article X- Dues, Fees and Finance which specifies the LIBOR dues structure.   I agree to pay the established dues and fees for the duration of my membership with LIBOR.

I agree that, if elected a Member of LIBOR, I will abide by the By-Laws, policies and procedures of LIBOR, the By-Laws of NYSAR, the Constitution and By-Laws of NAR, and I will abide by the Code of Ethics of The National Association of Realtors®, as from time to time amended.

I further agree on behalf of myself and any real estate brokerage, partnership, corporation, LLC or other real estate brokerage company in which I hold an ownership interest to arbitrate any and all controversies arising out of real estate transactions as specified by Article 17 of the Code of Ethics and Arbitration Manual of NAR, as from time to time amended. Said arbitration is to be conducted pursuant to the By-Laws, policies, and procedures established from time to time by the Board of Directors of LIBOR.   I understand that LIBOR is guided by the arbitration procedures and policies established by NAR but that LIBOR is not bound or limited thereby in the exercise of its rights to conduct arbitrations pursuant to this agreement. I agree to arbitrate any dispute with a client of mine or my company(ies) and any Realtor® principal associated with a different firm, consistent with Article 17 of the Code of Ethics and the Code of Ethics and Arbitration Manual.  I agree to abide by the decision and/or award rendered by the arbitrators. 

Upon termination of said membership for any cause, I will discontinue the use of the term REALTOR^® and return to LIBOR all certificates, signs, seals or other indications of membership in LIBOR, NYSAR, and NAR.

I understand that the present fee types are as follows: (1) INITIATION FEE for New Members. New Members must pay a $700.00 initiation fee plus the Membership Dues payable in accordance with the provisions of Article X of the LIBOR By-Laws.  It is understood that $250 of the initiation fee is non-refundable within the first 30 days of membership.  After the 30th day, the entire $700.00 is non-refundable. Initiation fees may be transferred to another REALTOR®, as long as both the current Broker and the new Broker agree to the transfer in writing.  A transfer fee will apply. (2) REINSTATEMENT FEE for Former Members.  Former Members must pay a $100.00 reinstatement fee plus payment of all outstanding debt (if any), plus payment of current year’s Membership Dues in accordance with the provisions of Article X of the LIBOR By-Laws.  Please note that once membership for either category is activated, dues are non-refundable.  

To attain full Designated REALTOR® membership, you must complete (1) LIBOR’s New Broker Orientation (NBO) program, and (2) NAR’s Fairhaven Simulation within ninety (90) days of joining LIBOR.  Failure to complete both the NBO and Fairhaven Simulation within the required time period would result in losing your REALTOR® status and suspension of all LIBOR services, discounts, and benefits.  The NBO program satisfies the NAR requirement for ethics training and includes an introduction to membership.  Your membership will be considered Provisional until NBO and Fairhaven Simulation are completed.  NBO can be satisfied through instruction provided by LIBOR at a free in-person course, or a live webinar via Zoom at no cost.  NAR’s Fairhaven Simulation can be taken at no cost at https://www.nar.realtor/fair-housing/fairhaven.

I hereby certify to the Long Island Board of REALTORS^®, Inc. that the following information  is correct, and I affirm that I understand and accept that my yearly dues liability is based on  the total number of licenses that I hold for each real estate broker, associate real estate broker, real estate salesperson, and licensed or certified appraiser associated with my firm or any real estate firm in which I have a direct or indirect ownership interest, in accordance with LIBOR By-Law, Article X.