Recently While Showing Houses I Noticed
Recently while showing houses I noticed the houses were owned by Real Estate agents . These facts were not discovered before showing the property. I discovered ownership either while showing or after . I am aware in every state Real Estate laws vary and that is what inspired me to write this post . In the state in of Pennsylvania it must be disclosed that the seller is a licensee Real Estate Agent in the State.. One of the main reasons for this is as an agent they have more knowledge then an everyday person . I have also been told it is required by the Pa. Real Estate Licensing Act.
Selling my house I would certainly put this information in the MLS I would be sure I dotted my I 's and Crossed my T's . In today's world it is so important to disclose information to the buyers . Just putting this information in a sellers disclosure in my humble opinion is not enough . This information also must be in the agreement of sale ."The seller is a licensed agent in the state of Pennsylvania" must be written is a given fact.
Now to be clear I am not an attorney I do not give legal advise . I am only a Real Estate Agent just qualified to fill in the blanks of the agreement of sale . I have been selling Real Estate for thirty years. In Pennsylvania we take the seller/buyer to closing without attorneys . We use Title Company's to settle/consummate the transaction . If they need legal advise I refer them to a list of Real Estate attorney's . Again I do not give legal advise or presume to practice law . I know whenever I sell my own property I disclose it everywhere in the MLS, sellers disclosure ,and the agreement of sale .
To add to this information the same is required when buying a house.
You must disclose on the agreement of sale that you are licensed in the State of Pennsylvania when buying the property for your own personal interests .
I even add this when I am selling a relatives house just to be safe
Some may say I am overly cautious but I was taught to prepare every document as if you had to defend it in court .
What is required in your State when a Licensed Real Estate Agent ,Broker or Appraiser Sells or Buys His/Her property
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Re/Max Eastern
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