REALTOR® Magazine-Daily News-Buyers Agents Want Stronger Disclosure Wording

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Search REALTORMag...

OR FOCUS YOUR SEARCH

NEWS & COMMENTARY

Inside For Brokers

Connect

Social Networking

Follow, fan, or friend us online.

Your Magazine

Magnifying your voice and celebrating your accomplishments

CURRENT ISSUE

PAST ISSUES

Daily Real Estate News | June 22, 2009 | Buyers Agents Want Stronger Disclosure Wording
The National Association of Exclusive Buyers Agents is urging Congress to include real estate agency disclosure language in mortgage reform legislation, including the Anti-Predatory Lending Act currently under consideration.

"Too many consumers have no idea that when they contact an agent listing a home, that agent must do everything possible to achieve the best outcome for the seller," organization President John Sullivan says. "As a result, these consumers have no one involved from the beginning of the transaction who can advise them on negotiating techniques, price points or the acquisition of an appropriate loan."

While the states have attempted to better inform consumers through state disclosure laws, inconsistencies in these measures, as well as lack of compliance and enforcement, means home buyers are still confused, the organization said in a white paper.

Source: National Association of Exclusive Buyers Agents (06/19/2009)

Learn more about REBAC, the world's largest association of real estate professionals whose focus is representing real estate buyers.