Mar. 30, 2006

Who's Who?

"Who's who?"  makes me wish I had an owl photo or graphic but then this could look like a Hooters ad.  Or maybe not.. Forgive me I don't know if it is "Who works for who" In a real estate transaction? or "Who works for whom" in a real estate transaction?

At the time you write an offer to purchase if there is a real estate agent involved the State of Ohio requires an Agency Disclosure Form be signed by buyer and seller,  a "whos who" of the transaction.   

Since January 1, 2005 buyers and sellers have signed a Consumer Guide to Agency Relationships when looking at a home or initially consulting with a real estate licensee about buying or selling a home.

The HER Real Living Consumer Guide to Agency Relationships says:

"Because it is important that you have this information, Ohio law requires that we ask you to sign below, aknowledging receipt of this Consumer Guide. Doing so will not obligate you to work with our company if you do not wish to do so."

The Consumer Guide to Agency Relationship provides information on Ohio law and company policy.

Ohio Association of REALTOR'S® (OAR)  Consumer Info

"Ohio Law Protects You in the Real Estate Transaction"

"Whether you are listing, buying or leasing property, a real estate agent can provide you with expertise and assistance. In some cases, the real estate agent will represent you as his/her client; in other instances you may be working with the agent as a customer. In either event, the law protects buyers and sellers with required disclosures and forms prior to your purchase. The following disclosures are required in Ohio:

Consumer Guide to Agency Relationships...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

Agency Disclosure Statement...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."

Here's more about working with a REALTOR® as your buyers representative from HER Real Living.