I had forgotten that was coming up. I am married to a real estate agent, and I haven't heard anything coming from her about it. The state never does too good a job about letting everyone know about these sorts of changes.
Distrissed Home Consultants Unite
Hello Washington Realtors! Who is excited about the new Distressed Property Law that goes into effect June 12th? Are you all ready to be distressed home consultants? Are you ready to be fiduciaries to the Seller even though you are a buyers' agent? Do you feel this makes you a dual agent?
Who has their attorney's ready for drafting the listing and purchase and sale agreement (the new Distressed Property forms and addendums) in other languages?
Interpreters could have a new line of work and another unique selling proposition. Does anyone know how much interpreters charge for interpreting a legal document such as a purchase and sale agreement?
Who feels this new law really protects the consumer?
Does it make sense that single family homes, duplexes, triplexes and fourplexes are subject to this law, but condos are not? How many of us have seen short sales on condos over the last two years?
What real estate agencies are making this new law required learning besides Keller Williams Realty?
Who is excited about informing FSBO's who fall into the distressed property law and the buyers looking at these homes that they now become Distressed Home Consultants without their knowledge, under this new law?
I'm looking forward to your input and discussion! Distressed Home Consultants Unite!
2 Bizniks have posted replies
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Posted by Chris Cliff, Lynnwood, Washington | Jun 04, 2008
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Posted by Helen Martin, Seattle, Mercer Island, Bellevue, Washington | Jun 04, 2008
Thanks for your input Chris. The NWMLS, which I'm sure your wife is a member of, has already posted the forms that are needed for these transactions. In fact, as of June 12th, any current listings need the Seller to complete the Distressed Home Addendum stating whether their home is "distressed or not". If it is, then the listing has to be canceled and redone with the new Distressed Home Listing Forms.


