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Ambassador
5,164,593
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Your client may sue you too.

Mar 06, 2019 01:48 PM
Rainmaker
1,044,289
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

As a PERSONAL rule I disclose anything that I would want to know as a client whether it is required by law or not it feels like the right thing to do.

BE AN OPEN BOOK

Mar 06, 2019 11:04 AM
Rainmaker
488,928
Susie Kay
Ultra Real Estate Dallas Fort Worth - Plano, TX
North Dallas Specialist

Full disclosure is the only way to go.

Mar 06, 2019 02:23 PM
Rainmaker
1,821,226
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I don't have a clue Paul S. Henderson, REALTOR®, CRS BUT I can't imagine not disclosing it whether obligated or not.

Mar 06, 2019 12:14 PM
Rainmaker
3,852,679
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

It's a no-no not to disclose, but I don't know about any automatic penalties. But if someone complains or sues, it could be costly.

Mar 06, 2019 10:59 AM
Rainmaker
602,939
Eve Alexander
Buyers Broker of Florida - Orlando, FL
Exclusively Representing ONLY Orlando Home Buyers

Florida is full of "preferred" affiliates that provide illegal kickbacks to real estate agents.  There are some die hard loyals brokers who will kill a deal if they cannot get their partner in on it.

Do they disclose?  Some franchise offices do, but others...Nope. No mandatory agency disclosures either...so this is really the wild west.

Eve

Mar 06, 2019 10:46 AM
Ambassador
3,608,824
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have one agent who drives all his listings to a particular title and escrow and only gives the reps first name. It is his wife and he requests all P&S use her services. She is not a disinterested third party...

Mar 06, 2019 10:39 AM
Rainmaker
5,309,046
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Paul,

We disclose, disclose, disclose.  I never have worried about disclosing because we always do. Living in California as one of the attorneys who spoke to our company said, "you can be sued if someone does not like the color of your eyes!"  Sure the judge will throw it out of court, but you still have to defend yourself.  A

Mar 06, 2019 12:33 PM
Rainmaker
3,918,301
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Paul - do you mean penalties that surpass any possible 'karma'?

Mar 06, 2019 11:44 AM
Rainmaker
826,578
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

It's best to disclose all of those things you mentioned.

Mar 06, 2019 11:16 AM
Ambassador
4,040,963
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Our company requires a signed Disclosure. I would highly recommend doing that even if you aren't required to do so. It's just the right thing to do!

Mar 06, 2019 08:44 PM
Rainmaker
512,333
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Disclose, Disclose, Disclose ... there is no other way to be open, fair and honest.

Mar 06, 2019 07:57 PM
Rainmaker
530,435
Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Not sure what penalties are but I would not want to continue without disclosing the facts.  If we know we disclose.  

No time for law suits.

Mar 06, 2019 07:13 PM
Rainmaker
860,429
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I also know real estate agents whose significant other is a lender. Guess who does most of that agent's client's loans.

Disclosure and the freedom for the client to select their own service provider is mandatory.

Is there a penalty for not disclosing? Perhaps...especially if the transaction turns out badly and the client's attorney looks for someone with deep pockets to name in the lawsuit.

Mar 06, 2019 04:58 PM
Rainmaker
516,908
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

We don't have such a penalty, but I wouldn't do this without letting them know.  You have to disclose if you are related to a seller or a buyer in the real estate contract, but a vendor?  No.

Mar 06, 2019 03:26 PM
Rainmaker
1,690,478
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

Yes & no. I think that my company discloses that they own a title company. Does Susy Brown refer her husband Bob Black & mention that relationship? I bet not.

Should she, yes.

Mar 06, 2019 02:39 PM
Rainmaker
931,788
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

The first thing my broker taught me when I started in real estate was "When in doubt, disclose". Better to over disclose than under.

 

Mar 06, 2019 01:12 PM
Rainmaker
864,576
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

I have a very long list of disclosures regarding the ownership my broker has of many enterprises.I assure the client we will use none of them, but still the list is presented.

I also disclose I assume no responsibility for any allergens, whether it be peanuts, Oak pollen or politics, they may encounter during the necessary activities.

From time to time, when in a bind, I suggest they hire an electrician to install that GFIC outlet or, my security companion Sasquatch can do it. But they do need to feed the animals.

I am confident in this long list many violations have occurred.  I do what needs to be done. But I try really hard not to break any laws.  Like most of us, 60MPH is a challenge. And when something NEEDS to be done..............

Mar 06, 2019 01:02 PM
Ambassador
2,990,756
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

While I do not have such relationships to refer, I am transparent and disclose everything. 

We have something called Negligent Referral. I will leave it at that.

 

Mar 09, 2019 07:45 AM
Rainmaker
1,697,360
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Always disclose, disclose, and disclose...

Mar 07, 2019 05:50 AM
Rainmaker
577,189
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

It would be a conflict of interest, and I would not refer them in the first place.  I give my Buyers a list of 3-4 House Inspectors and they can choose one.. if they don't have one already.

Mar 07, 2019 04:38 AM
Ambassador
4,461,035
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Not sure there is a penaly but disclosure is important, and you could get sued. THAT'S a penalty!

Mar 06, 2019 08:42 PM
Rainmaker
2,604,216
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

If something doesn't go right that lack of disclosure is used against you

Mar 06, 2019 07:00 PM
Rainmaker
1,707,197
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

One needs to disclose.

Mar 06, 2019 06:05 PM
Rainmaker
6,308,788
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Disclosure is needed to avoid problems.

Mar 06, 2019 05:33 PM
Rainmaker
1,355,908
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm sure we do.  Regardless, it is a good principle since there is a conflict of interest involved and you'd be possibly financially benefiting from the service.

Mar 06, 2019 02:28 PM
Rainmaker
818,390
Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

Not that I know of. But interesting question.

Mar 08, 2019 04:52 AM
Rainmaker
1,649,749
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Paul S. Henderson, REALTOR®, CRS .  I would take note of Bob Crane 's comment.  You don't want to get tangled up in the other agents web of deceit. 

Mar 07, 2019 09:35 AM
Rainmaker
4,799,256
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I'm not sure.  I think so.

Mar 07, 2019 07:33 AM
Rainmaker
1,620,537
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

The failure of disclosure of affiliations is full on very negative possibilities that will haunt an agent for a long time. Many have already directly answered your question...a good one!

 

Mar 07, 2019 06:45 AM
Rainmaker
708,861
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Not that I'm aware of in AZ...

Mar 07, 2019 06:11 AM
Rainmaker
3,291,824
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

YES. the rule is disclose, disclose and disclose any and all business interests if that other party is related to you in any way

Mar 07, 2019 04:34 AM
Rainmaker
3,971,557
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Disclosure is a necessity to avoid potential future problems including coverage by your E&O policy! Tread carefully!

Mar 07, 2019 03:43 AM
Rainmaker
1,508,951
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Likely, but why not to disclose and get through all the trouble of someone reporting you eventually? 

Mar 07, 2019 12:03 AM
Rainmaker
3,784,677
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I would say yes but not 100% sure.

 

Mar 07, 2019 12:57 PM
Rainmaker
3,985,765
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Yes, non disclosure it a bad thing

Mar 11, 2019 06:51 PM