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

[Justin Monro]

I know brokers can practice limited law within the “forms”. I am a license broker. My questions is how are brokers going to interpret CPA and terms within the Form 41, that is outside the scope of selling a buyer a house, just my opinion.

If I hear this right, why do buyers have a “voice” to pay a broker a commission. IMO buyers will not use a broker. Maybe I am missing something.

Thanks Justin

From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Kaitlyn Jackson
Sent: Wednesday, February 1, 2023 2:24 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] OT-NWMLS FORM 41 Exclusive Buyers Agency Agreement

Annie -

I can't wait to hear more on this issue! I know it's been bubbling under the surface for a while now.

Kaitlyn

Sent with Right Inbox<https://www.rightinbox.com/?utm_source=signature>


On Wed, Feb 1, 2023 at 2:21 PM Annie Fitzsimmons <atfitz at comcast.net<mailto:atfitz at comcast.net>> wrote:
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<mailto: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>
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp
***Disclaimer: Please note that RPPT listserv participation is not restricted to practicing attorneys and may include non-practicing attorneys, law students, professionals working in related fields, and others.***

_______________________________________________
WSBARP mailing list
WSBARP at lists.wsbarppt.com<mailto:WSBARP at lists.wsbarppt.com>
http://mailman.fsr.com/mailman/listinfo/wsbarp


--
Thank you,

Kaitlyn R. Jackson, Senior Associate Attorney
Dimension Law Group, PLLC
Office:  206-973-3500│Fax:  206-577-5090
Email: kaitlyn at dimensionlaw.com<http://dimensionlaw.com/>
www.dimensionlaw.com<http://www.dimensionlaw.com/>
631 Strander Blvd, Suite G, Tukwila, WA 98188

PRIVILEGED AND CONFIDENTIAL:  This email (including any attachments) is intended only for the use of the individual or entity named above and may contain privileged or confidential information. If you are not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are notified that any review, dissemination, distribution or copying of this email is prohibited. If you have received this email in error, please immediately notify us by email, facsimile, or telephone; return the email to us at the email address below; and destroy all paper and electronic copies.

PRIVILEGED AND CONFIDENTIAL:  This e-mail (including any attachments) is intended only for the use of the individual or entity named above and may contain privileged or confidential information. If you are not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, you are notified that any review, dissemination, distribution or copying of this e-mail is prohibited. Attempts to intercept this message are in violation of 18 USC 2511(1) of the Electronic Communications Privacy Act, which subjects the interceptor to fines, imprisonment and/or civil damages. If you have received this e-mail in error, please immediately notify us by e-mail, facsimile, or telephone; return the e-mail to us at the e-mail address below; and destroy all paper and electronic copies. Any settlement offer contained herein is made pursuant to Washington ER 408, and without admitting fault or liability on the part of this firm’s client(s) or its agents.  IRS CIRCULAR 230 DISCLAIMER:  To ensure compliance with requirements imposed by the IRS, I inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code; or (ii) promoting, marketing or recommending to another party any transaction or tax-related matter addressed herein.
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://mailman.fsr.com/pipermail/wsbarp/attachments/20230201/bdc3234b/attachment.html>