Before we get too far into anything else of substance, let's take care of some legal obligations we have, as brokers, first and foremost, to provide you with a little PDF entitled "The Law Of Real Estate Agency" (TLOREA) prior to your signing any type of agreements or contracts. Click here to view the Seller's TLOREA.
In this form, you'll find the prescribed duties and obligations set forth under Washington State Code (RCW) for real estate brokers who are working as seller's agents, buyer's agents, dual agents or even non-agents. Brokers have specific legal duties and responsibilities to ethical practice, accountability, and advocacy. Washington and California are considered two of the most progressive and evolved states in the nation, regarding standards of practice, mandatory education, and enforcement of agency requirements.
Every few years, the Washington State Legislature, along with input from the Washington Association of Realtors, revise the laws governing real estate agency and then attempt to squeeze a great deal of information about each one of the responsibilities that a broker may have, into this one single form. In order to save you some time (and eye-fatigue), you'll see that we've taken the liberty of outlining in green those areas that apply directly to Buyer Brokers’, and we've stricken in red those that apply to other roles. Here is an unmarked version as well: TLOREA Umarked. Brokers are required by law to provide this to a potential client or customer and obtain a signed receipt for such delivery, prior to any signing of any type of agency agreement or contract. We'll be asking you to sign a receipt indicating that you've been provided this pamphlet prior to signing any documentation pertaining to real estate. Being that we are members of the National Association Of Realtors, and as such, subscribe to the NAR Code Of Ethics, here is a copy of that declaration as well. While not a legally required part of disclosures, we think it's important for us to let you know that we take these responsibilities seriously.
At this point, if you've managed to read through all of the above and not have your eyes crossing, allow us to editorialize: Frankly, in our opinion, if you have an agent who is only performing at the levels of representation above, we'd suggest you consider looking for more professional representation. We feel that we should be holding ourselves to a higher standard than the lowest acceptable industry requirements. That's why we at Team BruceandDonna have taken the time to create this letter of commitment to you, to show that we are dedicated to serving our clients at the highest level.
In the coming weeks, there will be a few other documents for us to discuss, review, sign, etc., and you'll hear us state often:
"In the practice of Real Estate, EVERYTHING is in writing."
Some of our clients prefer to review documents on their own and then follow up with questions. Some prefer to have us walk through documents with them in real-time. Whatever your preference is, we're here to help!
With that, take a look at this first and very important form. We look forward to talking with you about it.
Bruce, Mark, and Will