MA CEU Brokerage Relationship RE57R07
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Transcript of MA CEU Brokerage Relationship RE57R07
Brokerage Relationships
Jody O'Brien
History & Background
1980’s 1983 FTC study of Buyers and Sellers to
determine if the consumer realized that the real estate agents worked for the Sellers
71% of the Buyers thought the selling agent worked “for” them
74% of the Sellers thought the agent worked “for” the Buyer
1990’s Massachusetts enacts mandatory agency
disclosure 1991 (NAR recommendations 1991: timely, written, and meaningful disclosure)
Originally targeted toward Buyers (Seller agency disclosure not mandated until 1993)
1993 Form changes to allow Buyer Agency information, disclosure and choice
Public awareness of representation increases
Demand for Buyer agency increases
2000’s Massachusetts adopts Designated Agency Change in Disclosure Form
Massachusetts Mandatory Licensee – Consumer Relationship Disclosure Form
Consent for Designated and Dual Agency Required in writing
Facilitation defined Sub Agency requires written acknowledgment of
Vicarious Liability and......
2010 Agency Disclosure Investigation
When would you disclose? What would relationship would you select?
Mary has just driven by your new listing and she is very excited. It is exactly what she is looking for. When she calls the office she finds out you are in. She will be right over. When would you disclose?What relationship would you select?
Bob is standing in front of the office drooling over the Broker Owners new listing in the window display. You go out side and comment, “It is a beauty! Do you want some more info?” Bob shakes his head and follows you in. When would you disclose?What relationship would you select?
Current Agency Disclosure Form
Disclosure to a Buyer of Seller Agency
Types of Agency
Seller Agency Traditional Agency Designated Agency Sub-Agency
Consent from Seller Specific Language
Buyer Agency Traditional Agency Designated Agency
Types of Agency
Facilitation Buyer or Seller Duty to accountability Confidentiality “unless otherwise agreed”
Dual Agency Consent
Specific language Notice
Designated Agency Consent
Specific Language Notice
Policy, Issues and Risk
Agency position applies to all agents within a company
Forms available and easy to use Designated Agency Practices
Separation of folders Privacy of documents Privacy of information
Jody O’BrienThe RE/Education Company
Committed to Professionalism in Real Estate through Education
Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocial Mediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeductor
Thank you for Attending