Also, with regard to my comment about “frivolous lawsuits” there was a reason, Craig, for me not giving all the details of a specific suit to which I am familiar because I don’t want other people in the public sector to attempt the same thing. Feel free to contact me privately if you’d like the details. Basically it came down to an attorney (of all things) hearing that if she sued her agent it would delay a financially damaging situation from happening to her. Again, more details available if you contact me but I won’t go into details on this site.

I say, “You still may have more liability than you want if you’re “filling the blanks” for a Buyer with no agency, while representing a Seller. Even though you think it’s clear that the Buyer is representing himself, is it really clear to the Buyer? And what happens if you make a mistake? What happens if you do everything correctly and the Buyer feels wronged or is a jackass? So many things to potentially go wrong….and for no fee? In case of a suit, where will a judge go? I’m thinking to the person who wrote the contract. Sure, you have your E&O insurance. Do yourself a favor and at least cover your deductable

Seems I was talking about the liabilty of taking on Buyers representing themselves for NO FEE.

A comletely different thought.

Shheesh, even Wal Mart makes people pay before they take merchandise out the door.

Nighty night……

Thanks for that last sentence. Good to know. There’s a rule about not using a NWMLS listing contract for property not going to go into the mls, so was wondering why the same rule didn’t exist for the Purchase and Sale agreement.

I’ll settle out somewhere. But sometimes when we are on the brink of change, we have to experiment with different options. I hate the tug of war “New Business Models” vs. “Traditional”. I’m just trying to find some middle ground. Testing different middle grounds. I’ll settle out somewhere…maybe. Or maybe I’ll just leave all options open

I like sparring with you guys…keeps me nimble.

I clearly would have preferred that Martin take my advice and call you. I told him it would cost him about $500, I thought that was a small price to pay, given he was saving 6% or so with no agents. Wonder why he wouldn’t? Is that about the price, Craig?

Speaking of meritorious cases: Reba, I’m always leery of the phrase “frivolous lawsuits.” After all, who decides what is “frivolous”? As it stands now, that remains the province of the jury (not a collection of supposedly “vulnerable” professionals, whether it be the NAR or the AMA). To get to the jury, you have to file suit. So there are no frivolous lawsuits — only cases that ended in defense verdicts (or were dismissed due to some legal failure, or were settled due to the associated risk — or resulted in a judgment against the defendant).

And finally, Ardell: I can appreciate your point. But in the final analysis, society sets the law based on what it believes is best. We may not agree with it, and we may think its crazy, but we are ultimately bound by it. Working for change is always an option. In the meantime, recognize the risks. And maybe don’t brag about breaking it.

Oh, and NWMLS forms are for sale.

If I’m the agent for the seller, writing up the contract for no extra fee for the buyer…seems to fit the ruling to me.

I didn’t write a contract for a FSBO. Just told him it where the attorney wrote “Seller’s Lender”, I think he meant to say “Buyer’s Lender” The FSBO decided to not hire an attorney and read the contract all by himself. He was clearly aware that he was on his own and chose to be so. He’s not allowed to do that?

I fully recognize it is like the doctor who refuses to help someone sitting next to him choking at a restaurant. Some will; some won’t. I don’t want to know the one who won’t.

Ardell, no one is betting here on what a judge will say. We are stating what a panel of WA Supreme Court Justices actually said. Based on Heritage House, an agent cannot receive a separate fee for preparation of even a “simple” PSA. Doing so is outside the limited authority to practice law and therefore IS illegal. Now, if the Justices now on the WA Supreme Court come along and overrule Heritage House and says that agents can get paid for the specific task of preparing a PSA, then the law will have changed. Until the law changes (and pigs fly), it IS illegal.

-Russ

I look at it this way.16.7 years with NEVER having to pay a deductible. Should I ever have to pay one, isn’t that averaged over the 16.7 year and growing timeframe? So I’m down to $299 a year divided by the number of transactions. Where are the statisticians when you need em

Greg,

Saying a listing agent can never assist a buyer with “no agency” and no representation is the same as telling a buyer that they HAVE to have an agent and can’t buy direct. I think that ship has sailed.