Spam prevention
Rainmaker
1,219,189
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

A claim by a buyer that he/she had unfair advantage taken by a wily agent would not go well. Disclosure of this detail is a way to avoid such a problem.

Aug 12, 2023 11:28 AM
Ambassador
3,141,397
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

of course they are.  As a licensee I'm required to disclose because I obviously have more knowledge about real estate than people NOT in real estate and the public needs to be aware of that.

Aug 12, 2023 10:17 AM
Rainmaker
1,465,513
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

In CA yes, mostly because it makes the property more valuable!!!

You know you're a real estate agent if... top 40 ways - The American Genius

Can't speak for the other 49. 

Aug 12, 2023 06:01 PM
Rainmaker
897,688
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Yes, disclose. Even if the agent is buying or selling and using a different agent, if they hold a license, they need to disclose that.

Aug 12, 2023 03:27 PM
Rainer
405,756
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

It is license law in KY. You much disclose your status as a licensee. This includes any transactions in which you have some sort of financial interest. 

Aug 12, 2023 01:13 PM
Rainmaker
1,067,967
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

It's required when buying or selling and best to do it in writing. There used to be a disclosure form in the FR forms but I haven't needed one in years so not sure if it is still there. 

 

Aug 12, 2023 12:30 PM
Rainer
358,010
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

because it's the law.  We have an unfair advantage over unlicensed people and we must make them aware of it. 

 

1. if the licensee’s license is affiliated with a broker, the broker holding the licensee’s license has been notified in writing of the specific property to be advertised; 2. regardless of whether the licensee’s license is affiliated with a broker or on inactive status, any advertisement must include either (a) the legend “seller, buyer, landlord, tenant (select the appropriate name) holds a real estate license” or (b) the legend “Georgia Real Estate License # (insert licensee’s six digit number; for example, 000001).” “Georgia Real Estate License” may be abbreviated to “GA R. E. Lic.;” and 3. if the licensee’s license is affiliated with a broker, the broker gives written consent to advertising the specific property and the advertisement itself. 

Aug 12, 2023 11:33 AM
Rainmaker
5,018,562
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

You must disclose in most states, whether personal or have a close personal relationship. Disclose or be prepared to take a punch in the nose in court.

Aug 13, 2023 05:17 AM
Ambassador
3,279,538
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

 

"... this Fact" ... if it is a fact, material or otherwise. 

Disclose. 

Disclose. 

Disclose.

 

Aug 12, 2023 01:06 PM
Rainmaker
1,014,864
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Is this what you are asking? 

Standard of Practice 3-7

When seeking information from another REALTOR® concerning property under a management or listing agreement, REALTORS® shall disclose their REALTOR® status and whether their interest is personal or on behalf of a client and, if on behalf of a client, their relationship with the client. (Amended 1/11)
and

Standard of Practice 12-6   REALTORS®, when advertising unlisted real property for sale/lease in which they have an ownership interest, shall disclose their status as both owners/landlords and as REALTORS® or real estate licensees. (Amended 1/93) 

Not all are Rs . . . we get this in CRE alllll the time, I can pretty much tell what an agent sounds like, though . . . 🔮

Tammy Lankford, says why. We have greater knowledge than consumers and need them to know we hold an advantage in that respect.

Aug 12, 2023 11:25 AM
Rainmaker
2,751,140
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Transparency is such a relaxing, honest environment that requires no effort.

Aug 13, 2023 06:20 AM
Ambassador
5,001,845
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Our MLS requires that we list it in MLS and many even insist on putting it in writing on our Contracts. Whether we do anything 'wrong' or not during the sale, the other party should be 'alerted' to the fact because we do have an unfair advantage in a transaction. 

Aug 12, 2023 08:04 PM
Rainmaker
1,469,950
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I believe it is to put the unlicensed party on notice as licensees are suppose to have superior knowledge and thus better bargaining power.  To me, it's no big deal to simply disclose.  I would encourage a client to disclose it even if they were a former licensee (I would do this to inform the agent on the other side, for better or worse!!).

Aug 12, 2023 05:25 PM
Rainmaker
1,819,540
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

They are in IL. Also you should not do dual agency. All paperwork signed has to say broker in the state of IL.

Aug 12, 2023 12:53 PM
Rainmaker
1,014,707
Elyse Berman, PA
LoKation Real Estate - Boca Raton, FL
Boca Raton FL (561) 716-7824

Yes, absolutely.  Even if you're just related, disclose it.

Aug 13, 2023 10:15 AM
Rainmaker
604,930
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Yes Maryland law require a licensed agent disclose when selling or purchasing a property even if they are being represented by another agent in the transaction.

Aug 13, 2023 06:35 AM
Rainmaker
4,971,936
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Yes... we are considered to have an "unfair" advantage in terms of our knowledge compared with the public. That's the reason for the requirement. So, if you are an owner, a listing agent, a buyer, or have any financial interest, you must disclose that you are a real estate agent. 

Aug 13, 2023 05:37 AM
Ambassador
2,324,011
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Montana code 37-51-314, "Relationship disclosure requirements. (1) A broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction as provided in this section." and it goes on to provide all the times you need to disclose that you are indeed a real estate professional when working with a seller, a buyer, or as a dual agent. So the answer is yes. We put it in the actual listing - usually it's in the agent remarks section.

Aug 13, 2023 05:02 AM
Rainmaker
2,202,457
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Yes.

Aug 13, 2023 03:14 AM
Ambassador
6,184,807
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Yes.

Aug 12, 2023 11:36 PM
Rainer
188,282
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

Another reason that it is a law in many state is because you know more about real estate but it also interferes with agency relationships. 

If the agent is transactional (which is the default in Florida), then the buyer can tell the agent something like, "I am offering $300k, but if I have to I'll go up to $325."  The buyer can expect that the agent will make the $300 offer, but keep the rest confidential unless and until it is needed.

But if you tell the agent that same statement, not realizing that the agent is the seller, then it causes problems.

Aug 12, 2023 03:50 PM
Ambassador
2,975,109
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Yes. A Realtor must disclose their interest as professionals in a transaction and to the public to avoid misunderstandings. Also to fellow agents.

Aug 13, 2023 08:34 AM
Rainmaker
1,479,742
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

In California we are required to disclose this, as a buyer or seller, even if our license is inactive.  I disclosed it even when mine was expired and I was well into my IT career.

The thought on this is that a licensee would know more than the average person and may have an unfair advantage.  In order to avoid that possibility disclosure is required.

Aug 13, 2023 03:01 PM
Rainmaker
741,164
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Here in California we are required to disclose any involvement we have in our listings or when presenting a offer.  The reason is to let the public be aware that we have more experience in real estate then they do.

Aug 14, 2023 09:19 AM
Ambassador
2,658,063
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Hi, Peter.

  I am CEO of a corporation that is selling a property.  That property is not in my State of Florida, it is not deeded in my own name, it is listed with a local brokerage.  But I will still DISCLOSE in writing, and have all parties sign/acknowledge that "CEO Frederick Griffin is a Licensed Florida Real Estate Broker". 

  The answer from John Juarez gives my reason.

   

Aug 13, 2023 04:07 PM
Rainmaker
227,314
KAREN SANCHEZ
Reputable Realty - Apple Valley, CA
...Marketing your home like no one else will.

TX yes, it's on the contract.  CA yes, it's a requirement.   

Aug 17, 2023 09:01 AM