A new homebuyer book is out that every homebuyer in the US should read before even talking to a real estate licensee/salesperson – Not One Dollar More! – How to Save $3,000 to $30,000 Buying Your Next Home. This is a new edition completely updated for 2018. I had the privilege of helping to update the book for this latest edition. The second edition was published 18 years ago. Much has changed in […]
Category: MA Mandatory Real Estate Licensee-Consumer Relationship Disclosure
Discussion about the Massachusetts Mandatory Real Estate Licensee-Consumer Relationship Disclosure revised on January 24, 2017.
“Stop calling yourselves ‘agents’ unless you really are an agent within the meaning of centuries of well-settled common law. .‘, remarked Maureen Glasheen, Esq. in a recent email to myself and others. Maureen is a former General Counsel to the New York Department of State. She continues, “ONLY persons and firms who transact business on our behalf subject to our lawful instruction SOLELY IN OUR BEST INTEREST, (a/k/a Undivided Loyalty) meet the common law […]
I sent a question to the traditional real estate industry’s Massachusetts Legal Hot Line about the recently revised agency disclosure form that read, “Hi, I’m concerned about the revised disclosure. It appears the structure didn’t change, just word changes. It is very obvious now that a consumer can have a direct relationship with the brokerage, including all other affiliated agents, or directly with an individual salesperson or broker employed by the brokerage. It would appear […]
Or, perhaps they weren’t thinking or perhaps they were influenced by traditional real estate industry PAC money. What am I talking about? Massachusetts Legislation, Section 87AAA3/4: Real estate brokers and salesmen. What were legislators thinking when this section of Massachusetts law passed and become part of the law governing real estate licensees? Section 87RR predated Section 87AAA3/4 as far as I know and lays out the basics of how a real estate licensee operates. Quoting […]
Massachusetts revised its Mandatory Real Estate Licensee-Consumer Relationship Disclosure on January 24, 2017. The basics of the disclosure didn’t change, only the words and layout changed. Rather than clarifying a consumer’s choice the form is even more confusing and harmful to consumers. A .pdf copy of the Massachusetts Mandatory Real Estate Licensee-Consumer Relationship Disclosure is available here. Timing of the Presentation of the Disclosure is Too Late: Real estate companies in Massachusetts must disclose how […]
The below comes from Douglas R. Miller, Esq. Founder and Executive Director of CAARE, Consumer Advocates in American Real Estate. CAARE (www.caare.org) is a non-profit, 501(c)3 charity dedicated to exposing conflicts of interests in residential real estate and providing information, solutions and resources to consumers and others to help combat these problems. ================================================================================ Agents from the same brokerage firm cannot negotiate on behalf of buyers and sellers in the same transaction. Despite heavily lobbied […]