Get the Facts 07.23.24
Change is Hard... Unless You're Prepared
You have been through a lot of changes lately, and more change is coming.On August 17th, every REALTOR®-owned MLS will cease publishing offers of compensation in the MLS. Moreover, the listing agreements used by brokers who list property in a REALTOR®-owned MLS will change substantially. Will the sellers you represent still have the ability to offer compensation to a buyer broker? They will not … unless you learn about the changes to the revised listing agreement in advance and prepare to use it. If your seller offers compensation to a buyer broker, where will you advertise that offer? If you are a buyer broker, how will you know if the seller is offering compensation? Washington law requires you to disclose offers of compensation from seller to buyer, and the revised Form 21 incorporates this disclosure and the buyer’s negotiation for the seller’s payment. The Buyer Brokerage Services Agreement will be simplified, but the simpler form eliminates choices that you are no longer allowed to extend to buyers.
Suffice it to say, forms and practices are changing in dramatic ways. If you are not prepared, you will have no problem selling real estate. You simply run the risk of working for free.
Seats are filling up FAST! Register for one of the upcoming 3.0 CE virtual courses at the link below.
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Dive in and ride the wave of savings! Tomorrow only, save 35% on all real estate, mortgage and professional development education! Visit the link below and use promo code SPLASH35 at checkout.Learn More
Existing-Home Sales Slipped 5.4% in June; Median Sales Price Jumps to Record High of $426,900
Existing-home sales slipped by 5.4% in June, while the median sales price hit a record high of $426,900. In this article, NAR discusses how with inventory rising and a shift from a seller's to a buyer's market, it's crucial now more than ever to stay informed, and be aware of the trends in your market.Learn More
Professional Licensing System Maintenance
The Professional Licensing system will be down for maintenance July 26th 7:00 p.m. till 10:00 p.m.Don’t wait till the last minute to renew. If your license is scheduled to expire 7/26, 7/27, or 7/28, please plan to renew prior to the 7/26/2024.
This outage has been scheduled for Friday evening at a time we hope not to inconvenience our customers. Unfortunately, if you do try to renew your license following the outage and experience technical issues, our staff will not be available to provide assistance until Monday, July 29th.
They apologize for the inconvenience while they are making updates to better serve their customers.
To contact DOL with questions:
For support regarding Secure Access Washington, or technical issues with the online Professional Licensing System, contact the Customer Support Team:
Call: Find your profession's licensing contact number https://dol.wa.gov/about/contact-us/business-and-professional-licensing-contact-information and select option 1.
Email: dol-bpdcustomersupport@dol.wa.gov
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