[WSBARP] OT-NWMLS FORM 41 Exclusive Buyers Agency Agreement

[Annie Fitzsimmons]

Hi Justin.  There are bills in the Legislature seeking to create transparency for buyers and sellers regarding the amount of compensation that sellers AND buyers pay.  The bills have nothing to do with brokers practicing law.  Brokers already practice law as allowed by the Supreme Court in  Cultum v. Heritage House, a 1985 decision.  

When I get back to my office, I will reply with bill numbers.   There will be no requirement that any specific form be used by any broker or consumer.   Rather, the bills will require brokers to have conversations with buyers about compensation and enter an agreement with buyers, just as agreements are currently required with sellers, so that buyers have a voice in the amount of and terms controlling compensation to a buyers broker. 

I’ll provide more information in response to your email in a bit.  

Thanks!  Annie

Sent from my iPhone

> On Feb 1, 2023, at 1:58 PM, Justin Monro <justinm at monrolawfirm.com> wrote:
> 
> 
> Listmates:
>  
> See the attached form.
>  
> I heard and I am hearing this is going to be mandatory form in the NWMLS.
>  
> Buyers are to pay buyer brokers commission. Might be some litigation over this already in court.
>  
> Can someone share what is going on. I don’t think this is a good idea, because brokers could be practicing law.
>  
> Thoughts.
>  
> Thank you,   
>  
> Justin K. Monro
> Attorney at Law
> The Monro Law Firm PS Inc.
> 1830 Bickford Ave. Ste 204
> Snohomish, WA 98290
>  
> <From 41 2.1.23.pdf>
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