Frequently Asked Questions
Q: What is a Consumer Guide to Agency Relationships?
A: A real estate agent will provide a buyer or seller with a “Consumer Guide to Agency Relationships” at first contact. This guide explains agency law in easy -to-understand, consumer-friendly language and will outline the brokerage policy on agency relationships. Click Here for a copy of the Consumer Guide.
Q: What is an Agency Disclosure Statement?
A: The Agency Disclosure Statement documents the agent’s and brokerage’s agency relationships with the parties involved in the real estate transaction. This will be provided to the consumer prior to signing an offer to purchase or lease and will go to the seller with the offer. Click Here for a copy of the agency disclosure.
Q: What is a short Sale?
A: A short sale is simply defined as the process where a holder of a mortgage note, typically a lender or bank, agrees to accept less than the amount due on the loan as payment in full. This is often done when a homeowner is behind on payments and unable to afford the mortgage any longer and they do not have enough equity in the home to sell it. Click Here for more details.