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Recently While Showing Houses I Noticed

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Real Estate Agent with HomeStarr Realty RS143922A

 Recently While Showing Houses I Noticed documents

 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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Hannah Williams

 

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Hannah Williams is known throughout Philadelphia as HelpfulHannah – and if you’ve spent more than five minutes with her, you know exactly why. She’s an expert at anticipating people’s needs, she has a real feel for real estate, and she’s an accomplished problem-solver.

Hannah has been helping people buy and sell homes all over Philadelphia since 1984. Many of her clients purchased their first, second and even third homes with her expert help, and Hannah wouldn’t have it any other way.

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Comments (122)
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Daniel Seider
BTRE Big Trees Real Estate - Arnold, CA

We alway disclose if an agent is involved in the MLS and in the contract. Some MLS's have a agent own disclosur builtin when you enter the listing. 

Apr 06, 2015 01:56 AM
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

It has to be disclosed here in Tn as Owner /Agent.  If it is a purchase we have the personal interest disclosure as well.

Apr 06, 2015 05:08 AM
Tiffany Burke
Group one real estate - Corpus Christi, TX

Same in Texas.  It has to be disclosed as an owner/agent.  I do not think we have had many issues with it. There was one time I made an appointment to show a property with the listing agent, (he stated the owner will meet to open home)  then surprisingly  his wife pops up to open the house.  The MLS remarks were deliberatly mis-leading concerning ownership.  Needless to say it was a less than desirable deal that ended up falling through and that agent didn't last long in the business.  I think most people are pretty honest whenever it comes to this.  Great post! 

Apr 06, 2015 07:56 AM
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

In NC it has to be disclosed in the MLS.  "Seller is licensed real estate agent."  We also see "Agent is related to seller."  Not a problem, but disclosure is required and our Real Estate Commission doesn't mess around!

Apr 06, 2015 09:43 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Kevin Stormer  i think you are right . I have had many Real Estate agents from NC answer this question . I am amazed at how many agents .Makes me proud .

Daniel Seider  Yes I have seen the button here to but I would not take the chance I would spell it out in the body of the listing . What about you ?

Thank you for taking your valuable time to comment

Hannah

Apr 06, 2015 09:57 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Rose Mary Justice  And so it should be ..In Tennesee I was told by I believe Rob Thomas that sign riders were also required

Tiffany Burke  Glad they are no longer in the business to deliberately try to mislead the public is scary  and dangerous . i am hoping the  houses I have been showing have been undisclosed that the sellers are licensee are accidents not deliberate .

Thank you for taking your valuable time to comment

Hannah

 

Apr 06, 2015 12:42 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Dianne Goode  there are little boxes that can be checked some say but I really think it should be spelled out in the MLS so buyers know what they are walking into as well as the agent . It is like saying read the fine print .. ,,,,

Thank you for taking your valuable time to comment

Hannah

Apr 06, 2015 12:49 PM
Kristin Hamilton CA REALTOR
Berkshire Hathaway California Realty - Beaumont, CA
(909) 557-6966- Specialize 55+ Communties Banning

Hi Hannah Williams 

I have sold family homes for my mother several times, my mother-in-law, my brother-in-law and several of my own personal homes and I always disclose in the MLS Agent Comments. I too have found after getting into escrow that an addendum shows up stating the ohter agent is related or one of the Principles. Agents need to follow the rules. Surprise!!

Apr 07, 2015 03:05 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Kristin Hamilton CA Realtor  Amazing that some agents feel that they do not have to play by the same rules as the rest of us

Thank you for your comment it is greatly appreciated

Hannah

Apr 08, 2015 12:58 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Same here in CA, an agent must disclosure that he is related to the seller or has any part of  ownership of a property. I'm not sure you must disclosure it in mls though.

Apr 09, 2015 10:37 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Inna Ivchenko  I would say disclosure is the best way to keep yourself out of trouble . Therefore even if it is not required I think I would shout it out and put it in there anyway . This way no one can say they were not aware .

Thank you for taking your valuable time to comment

Hannah

Apr 09, 2015 10:43 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Any time:)

I agree Hannah.

I would disclosure. But each mls has different rules. I do believe that  in my mls, it is not mandatory to disclosure if the agent has any(full or partial) ownership.

Apr 09, 2015 10:57 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Good morning Hannah Williams ,

Praful Thakkar re-blogged this post which I missed! We do have to disclose, MLS (before showings), seller's disclosure and on contracts! These are definitely a way to keep an agent out of harms way!

Aug 13, 2016 09:28 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Hannah Williams = great post I am glad that Praful Thakkar reposted.  I think this is important to share with everyone. 

Aug 13, 2016 09:44 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

I just went back and corected an MLS listing I have - a coop I have listed is owned by my cousin's wife's father - not a blood relation but after thinking about your post, it makes sense to disclose anyway - better safe than sorry!

Aug 13, 2016 09:50 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Hello Hannah Williams missed this post originally but saw Praful's reblog this morning.  Excellent advice.

Aug 14, 2016 05:33 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Dorie Dillard  So important to disclose and not just check a box in my humble opinion but to spell it out .We have so much more knowledge then buyers as sellers

Lise Howe  i think that is a little over kill but it never hurts to be careful

Mary Yonkers  I was taught to prepare an agreement as if you had to defend it in court . Best to disclose these facts and not just by checking a box

Thank you for you comments they are greatly appreciated

Hannah

 

Aug 14, 2016 06:32 AM
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

You have to disclose even if you are not on an "active" status.

Aug 14, 2016 01:24 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Hella M. Rothwell, Broker/Realtor®  Interesting !  Love your new picture you look amazing !

Aug 14, 2016 11:57 PM
Claude Labbe
RLAH / @properties - Washington, DC
Realty for Your Busy Life

Praful Thakkar 's reblog sent me here again.

I agree with you Hannah.  When working with a buyer in this situation, it certainly sets us a sense of distrust which is not conducive to getting ratified and to settlement very smoothly.

Sep 11, 2016 04:58 AM
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