Hope you all are doing well and getting ready to enjoy the summer. Congratulations to all the graduates, we have enjoyed seeing all the pictures of students moving on to their next adventure. Even Kali Jo had a ceremony.
We are trying our best to shed some light on the changes happening within our industry. The interesting thing is, there is little change for us in Colorado. Back in 1957, yes we said 1957, the Conway-Bogue Realty Company vs Denver Bar Association won a case in which Realtors® can complete preprinted forms and can explain what is written on the forms to their clients. This case went to the Supreme Court and they agreed with the previous decision, Realtors® can complete the forms and must be able to explain what the forms intention is. In a number of states, a seller/buyer must hire an attorney at their expense for their transactions in addition to the Realtor®.
To be very clear, there is NO STANDARD COMMISSION rate and there never has been. Even though the media states differently. The commission area on our preprinted forms has blanks that need to be completed. There is nothing preprinted in those areas.
Here is what to remember, Amber and I love what we do. We find it a privilege to serve our clients in helping them purchase their first home. Watching them move to a larger home to accommodate their growing families. Having to move for a job change or having to move because of health and safety concerns. As it states in both Sellers and Buyers contracts our additional duties are:
- 6.1 Promoting the interests of Seller with the utmost good faith, loyalty and fidelity;
- 6.2. Seeking a price and terms that are set forth in this Seller Listing Contract; and
- 6.3. Counseling Seller as to any material benefits or risks of a transaction that are actually known by Broker.
Amber and I take our responsibilities very seriously and that is one thing that will never change.
We wish you all a safe and happy summer.