Video - What is the Consumer Notice?

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Real Estate Agent with Long & Foster Real Estate Inc 610-225-7400 PA License - AB067198

Frequently Asked Real Estate Questions - What is the consumer notice?

This video by nick Vandekar, Main Line Realtor with Long & Foster Real Estate, Inc. answers the question What is the consumer notice?

The Consumer Notice should be explained to a consumer by any real estate agent they meet for the first time and discuss their real estate needs. The purpose is so the consumer understands who the person they are talking with represents.

At the most basic level, the agent will represent the seller, the buyer or be independant of either. If a buyer and you are talking with the listing agent who represents the seller you need to be conscious of the fact that this agent is gathering information on behalf of the seller.

There are situations where an agent and/or the broker may be a dual agent, or in the case where both the agent for the buyer and the seller are from the same brokerage but are different individuals they will be designated agents if the brokerage practises designated agency.

We also have transaction licensees who represent nobody, can give no advice but are merely providing service to complete a transaction. You may still want to be careful what you share in case confidential information is relayed inadvertently.

Let us know if you have any other questions so we can address them. Email them to Nick@VandekarTeam.com or post them to us on Facebook or Twitter @NickVandekar.

 

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Topic:
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Location:
Pennsylvania Chester County Devon
Groups:
The Art Of Marketing You
Chester County, PA
Delaware County, PA
Montgomery County, PA
Tags:
consumer notice
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Rainmaker
2,934,989
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Good morning, Nick and Trudy. Great topic to write about. We don't call it consumer notice here, but we do have the "working with real estate agents" document and talk to explain the ins and outs of agency.

Jan 25, 2017 05:00 AM #1
Rainmaker
719,113
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Good Morning Nick & Trudy Vandekar 

In Massachusetts, this form is called the Mandatory Licensee - Consumer Relationship Disclosure. Before we can show a piece of Real Estate we are required to have that document presented to and signed by our client

Jan 25, 2017 05:52 AM #2
Rainmaker
3,751,098
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Nick & Trudy Vandekar ,

We have something similar called an Information on Brokerage Services that explains how we work as agents in Texas. It is to be signed by both sellers and buyers and is an important disclosure for them to understand.

Jan 25, 2017 05:56 AM #3
Rainmaker
2,413,606
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

This sounds a lot like our agency disclosure, which goes over the duties we owe both sides in a transaction.

Jan 25, 2017 06:04 AM #4
Rainmaker
737,216
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Nina Hollander, I think we all have some form of this and the idea is so the consumer understands why they need and should have representation.

Doug Dawes In PA we must present it, but the consumer does not have to sign it, but we should then note the date and that they refused to sign.

Dorie Dillard I agree, it is glossed over by lots of agents, I often say to people who call to see a property when we meet, I am sure you have seen this before if you've spoken to other agents and they look at me as if i just landed from Mars.

Brian England, ours lays that out as well, and the best line is that we owe honesty to all parties and must look after their money correctly.

Jan 25, 2017 06:53 AM #5
Rainmaker
4,796,309
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Excellent information Nick and Trudy.  All to often, the consumer doesn't really understand this.

Jan 25, 2017 09:27 AM #6
Ambassador
1,896,191
Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Nick & Trudy Vandekar  A very important document in the sales process . Looking forward to more videos

Jan 25, 2017 01:40 PM #7
Rainmaker
3,036,581
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hey Nick & Trudy Vandekar, great video, I need to do more of them but I have a face for radio.  Make it a great day!

 

Jan 26, 2017 08:45 AM #8
Rainmaker
737,216
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Gabe Saunders I don't think they ever realy do. Our notice explicitly in large print says it is not a contract and still people say I am not signing and being tied into a contract.

Hannah Williams thank you, it is an important document and one that starts the relationship process.

Will Hamm I think you would be great on video, it takes a while, I cringed on my first videos and now I am more relaxed. Just do it and don't worry about perfection.

Jan 26, 2017 08:59 AM #9
Ambassador
3,147,343
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Good Evening, Nick & Trudy Vandekar!  Loved hearing that accent and what a great explanation for your buyers and sellers!!  We provide notice at first substantial interest or initial contact.  This reminds me that a great video like this needs to be on my to-do list next week!  

Jan 26, 2017 07:33 PM #10
Rainmaker
5,218,250
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is an important topic and great information to share with home sellers and home buyers.

Jan 27, 2017 03:27 AM #11
Rainmaker
737,216
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Debe Maxwell nothing like a video to engage your customers and turn them into clients. Have had several say they feel they know me as a result of the videos.

Roy Kelley thank you.

Jan 27, 2017 08:29 AM #12
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Rainmaker
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Nick Vandekar, 610-203-4543

Tredyffrin Easttown Realtor, Philly Main Line
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