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EP: 007 National Real Estate Lawsuits & New Buyer Agency Requirements
Manage episode 393226958 series 3462495
Konten disediakan oleh Howard Chung and Paul Balzotti, Howard Chung, and Paul Balzotti. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Howard Chung and Paul Balzotti, Howard Chung, and Paul Balzotti atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
It is a turbulent time in the Real Estate industry heading into 2024, with pending Real Estate lawsuits against major Real Estate firms and the National Association of Realtors. Most of the litigation is framed around a position that Realtors have not provided proper transparency to the Real Estate commission process, particularly with buyers.
For the last 2+ years, Washington state lawmakers, working alongside the Washington State Realtor Association and the member-owned Northwest MLS, have taken proactive steps to increase transparency in contracts in both Real Estate contracts as well as listing agreements. Now in 2024, Washington state will require buyer agency agreements between buyers and brokers. This service agreement will need to be in place as soon as a Real Estate broker in Washington state begins to provide services to a buyer, which could include advising, and/or showing homes.
Howard Chung and Paul Balzotti of John L. Scott Real Estate deep dive into what has transpired over the last 20 years and what comes next for the Real Estate industry.
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