Getting the word out of the classes gor new law Distressed property Law

Distressed Property Law

A new law goes into effect June 12, 2008 that will change the duties required of real estate agents and brokers in many transactions.  Several statewide forms will be revised and new forms will be drafted to meet the requirements of the new law.  Agents and brokers must modify the assistance they provide short sale sellers.  Agents and brokers will have to choose carefully the services they offer to sellers.

During the weeks of May 12 and 19, NWMLS and the Washington REALTORS® will provide broker-only classes statewide teaching compliance with the new law.  The importance of brokers attending the class cannot be overstated.  The classes will be offered at no charge at locations across the state with the hope that all brokers will attend. 

Education will also be available for agents through instructional DVDs.  The DVDs will be available to brokers within a few weeks, at no cost, for use in educating their agents.

NWMLS will provide updates with additional information as it becomes available.

NWMLS and Washington REALTORS® are aware that this law will cause some inconveniences, but we are now focused on assisting you in how to best comply with the requirements in the most effective and efficient way.