Disclosure forms not always needed for buyers

disclosureIt has taken a while, but most listing brokers now have agency disclosure forms available for homebuyers at open houses.

The forms spell out who is representing whom — namely that the listing broker has only the seller’s best interests in mind.  However, rare is the listing broker who complies with a statutory requirement to explain the form in more than a few words before buyers sign the thing.

What some brokers working for sellers apparently don’t understand is Continue reading

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The High Road: Brokers should blame themselves

When brokers act like the two I recently encountered and no one complains, we who sell real estate should expect our collective reputation to persist at a low level.

So do I occasionally write about certain unnamed brokers under the “High Road” heading (as well other questionable behavior).

Blogging about the incidents always has been enough at least to stem my anger and mitigate my contempt of bad brokers, even though I undoubtedly delude myself into thinking that my writing could lead to improvement.

Consequently, I don’t report bad behavior to the ethics committee of the Real Estate Board of New York (REBNY) , the Department of State (which regulates licensees) or executives of the firms that supervise sales personnel.  As I draft this post, however, I have yet to make a decision whether writing about a recent situation is sufficient.

It begins with an e-mail from my client, Continue reading

State to tighten advertising rules for real estate

Few buyers and sellers of residential real estate believe everything in advertisements placed by brokers and agents.

Neither does New York’s Department of State (DOS), which is proposing to implement new rules as a consumer protection to replace its informal advertising guidelines.  In a notice about the change published on Oct. 24, it said:

After consulting with the New York State Board of Real Estate, however, it was determined that enforceable regulations were required in order to adequate protect the public from dishonest and misleading advertising practices.

Covered by the rule is Continue reading