January 14th, 2019 at 10:59 am
Multiple Choice Question: We know that, under a new 2019 law, a buyer’s agent is no longer required to give an Agency Disclosure Statement (AD) to the seller. But we are the buyer’s agent in a For Sale By Owner (FSBO) situation, where the seller has no listing agent. Are we required to provide the FSBO seller with an Agency Disclosure Statement? Pick the best answer:
A. Yes. If there is no listing agent to give the AD to the seller, the law requires the buyer’s agent to give the AD to the seller.
B. Yes if the seller pays the buyer’s agent a commission, but otherwise no.
C. No, but giving the AD to the seller is a good idea.
D. No, because providing the AD to the seller creates an agency relationship between the buyer’s agent and seller. (more…)
January 7th, 2019 at 11:31 am
Agents should always be careful to avoid procuring cause disputes. A procuring cause dispute typically involves 2 agents from different brokerages who both claim entitlement to compensation for procuring the buyer for a property listed in the Multiple Listing Service (MLS). If a dispute cannot be resolved, the other brokerage may file a commission claim against you through local board arbitration or C.A.R. Interboard Arbitration. The arbitration process is usually unpleasant and time-consuming.
Here are 5 helpful tips for avoiding procuring cause disputes: (more…)
December 31st, 2018 at 11:15 am
Happy New Year Everyone! The New Year brings many new laws that may affect your real estate practice. Most of these new laws have previously been reported to you. However, here is, all in one place, a quick recap of some significant changes: (more…)
December 24th, 2018 at 10:43 am
Fact Pattern: This is the actual court case of the Chopped Christmas Tree. The Soneses and Kallises were next-door neighbors in Los Angeles. They shared a mature 70-foot Aleppo pine tree. The Soneses, however, honestly believed that the tree was entirely on their property. Fearing that the tree would topple over, the Soneses cut down the entire tree. The Kallises sued for wrongful removal of the tree. In court, they presented a property survey showing that 41% of the tree was on their property. They also presented photos of the tree shading their property, including a playhouse that was first used by their children, and then by their grandchildren. The Kallises won their case, because under California law, neighbors jointly own a tree on the property line. (more…)
December 17th, 2018 at 2:31 pm
Effective January 1, 2019, the Transfer Disclosure Statement (TDS) law will be revised as follows: (more…)
