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#69852 - 12/30/06 08:51 AM ? for agents/clients
RESTEVE Moderator Offline
Member

Registered: 10/28/06
Posts: 417
Loc: Kansas
Our office has a handout that we hand out to clients/customers at the first practical time that explains what a sellers agents duties are, a buyers agent, and a transaction broker. It is our practice to have a copy initialed showing only that an agent gave you the handout. I am in Kansas and I was wondering if they do this in other states too? I have also noticed that I have shown homes to people that have worked with other agents and seen 3 or 4 houses and never seen this document. I think it is a pretty important handout as the majority of lawsuits have to deal with agency relationships I am told.

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#69853 - 12/30/06 09:40 AM Re: ? for agents/clients
Shamrock Offline
Member

Registered: 08/16/04
Posts: 198
Loc: Pittsburgh, PA USA
My company has a neat little booklet that we give each customer/client - we've been doing this for about 5 years now. Also in PA, it is mandatory that we have a signed agency relationship form from any one we discuss real estate with.

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#69854 - 01/01/07 03:29 PM Re: ? for agents/clients
OH REO Offline
Member

Registered: 12/07/05
Posts: 467
Loc: Ohio
I'm in Ohio, and we have one also. Actually, we have 2. One gets signed at first contact, another different form is signed when an offer is made.

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#69855 - 01/04/07 08:01 PM Re: ? for agents/clients
REO Specialist Offline
Member

Registered: 04/04/06
Posts: 315
Loc: Alabama
In Alabama we have a RECAD that explains all of this and Alabama law requires that we inform our clients / customers about the types of services that a licensee may perform in our state.. And it also states the obligations that we have to our clients... We tell them that they get to choose which way we work for them. However, if they refuse to sign the RECAD then we are only a Transaction broker to them...
_________________________
Michelle Baker
ABC Realty, LLC.
Your REO Specialist!

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#69856 - 01/09/07 11:34 AM Re: ? for agents/clients
ShawnR Offline
Member

Registered: 03/22/06
Posts: 40
Loc: Ohio
We have an agency disclosure that we hand out at first contact. In Ohio, this is law that we have such a document.

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#69857 - 01/17/07 08:59 PM Re: ? for agents/clients
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4775
Loc: Knoxville, Tennessee, Knox Cou...
In Tennessee a real estate licensee is required to disclose their agency status at first "substantive contact" with a consumer.

Our default position is facilitator or non agent.

An agency in Tennessee can only be created by a written, bi-lateral document signed by a licensee and a consumer. No tickee, no washee.

I've looked at my real estate license and the word "agent" does not appear on it anywhere; it says I'm an "affiliate broker".
_________________________
Jim Lee, REALTOR®, CRS, ABR, e-PRO
www.KnoxvilleHomeCenter.com
www.KnoxvilleTennesseeRealEstateBlog.com
I am not an attorney & I am not giving you any legal advice.

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#69858 - 01/19/07 09:21 AM Re: ? for agents/clients
RESTEVE Moderator Offline
Member

Registered: 10/28/06
Posts: 417
Loc: Kansas
Jim Lee: I give out the handout and ask them if they want to consider a buyers agency agreement or if its one of our listings I make sure they understand that I will be representing the seller. My broker tells me if they dont want to sign a buyers agency until contract writing time then I am a transaction broker. In RE classes they told us that agency is the number one cause of lawsuits. I would also suggest being careful about implied agency.

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#69859 - 02/17/07 03:27 PM Re: ? for agents/clients
client Offline
Junior Member

Registered: 12/07/06
Posts: 8
 Quote:
Originally posted by Jim Lee:
I've looked at my real estate license and the word "agent" does not appear on it anywhere; it says I'm an "affiliate broker".
That is correct, at least from a pure linguistic point of view. An "agent" negotiates and concludes contracts for the account and on behalf of his client.
A broker brings the two contracting parties together.

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#69860 - 02/18/07 07:41 PM Re: ? for agents/clients
CTagent Offline
Member

Registered: 01/30/07
Posts: 100
Loc: CT
 Quote:
I've looked at my real estate license and the word "agent" does not appear on it anywhere; it says I'm an "affiliate broker".
:D
_________________________
No legal advice being given... please seek legal advice from an attorney...

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#69861 - 02/18/07 11:26 PM Re: ? for agents/clients
JoeyBagadonuts Offline
Veteran Member

Registered: 06/24/06
Posts: 1074
Loc: Bucks County PA
Here in PA, it is called the Consumer Notice.
Given to any prospective customer/client when the first significant conversation/contact regarding a real estate transaction. Typically, you explain it to them, they sign it acknowledging they read it, make a copy and give it to them.
_________________________
Joseph Grabowski, REALTOR®
Keller Williams Preferred Real Estate – Yardley, PA
Buying or selling a home, land, or real estate in Bucks County Pennsylvania?
Visit my Bucks County Homes & Real Estate Website

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