Procuring Cause & Buyer Agency

Posted on December 31, 2012 by

The Scene: You meet Buyer Betty at a party and she tells you that she’s getting ready to write an offer on a house she saw last weekend. You ask her if she’s represented by an agent and she says the only one she talked to was the listing agent. You tell her that it would […]

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ADRE Rule And Policy Regarding Providing Information To A Client

Posted on December 31, 2012 by

ADRE RULES AND POLICY STATEMENTS The Arizona Department of Real Estate (“ADRE”) has the authority to promulgate Administrative Rules, which are often referred to as “Commissioner’s Rules” and Substantive Policy Statements. These rules and policies expand on the statutes that govern the ADRE and the brokers and salespersons regulated by the Department. The Administrative Procedure […]

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AAR’s Buyer-Broker Agreement and Agency Forms

Posted on December 31, 2012 by

By the early 1900’s, the Arizona Courts recognized the agency relationship between the broker and the client in a real estate transaction. See, Jenkins v. Irvin, 20 Ariz. 164, 178 P. 33 (1919). By 1950, the Arizona courts overwhelmingly held that a real estate broker is an agent with fiduciary duties to the principal. E.g., Haymes v. […]

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RAPAC A Powerful Political Force in Arizona…The “Mystery” of Funding

Posted on December 10, 2012 by

There are three critical components for effective political influence…focused advocacy (support of specific legislative issues), grassroots involvement (individuals working at the local level on political issues), and funding. The Arizona Association of REALTORS®(AAR) has approached the “funding” component by establishing the REALTORS®of Arizona Political Action Committee (RAPAC) and the REALTORS®Issues Mobilization Committee (RIMC). It is […]

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How to Obtain or Renew your Real Estate License

Posted on December 1, 2012 by

Real estate licenses are obtained and renewed through the Arizona Department of Real Estate (ADRE). ADRE has two offices: 2910 North 44th Street, Suite 100 Phoenix AZ 85018 602/771-7700 Hours: 8:00 a.m. to 5:00 p.m., Monday through Friday Questions on real estate licenses and renewals: 602-771-7700. Find answers to your questions online: Visit the ADRE Website to […]

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The Great “As Is” Debate

Posted on December 1, 2012 by

The AAR “As Is” Addendum is intended for use when the seller is selling a home in its existing condition (“As Is”). The Addendum was first developed in 2005 and underwent minor revisions for clarity in 2009. Recently, some questions have been raised about the buyer’s rights pursuant to Section 6j of the AAR Residential […]

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The New Residential Lease Owner’s Property Disclosure Statement

Posted on December 1, 2012 by

When AAR created the new Residential Lease Owner’s Property Disclosure Statement, many property managers raised concerns about how their owner clients would respond to any requirement to fill out this document. Each broker needs to consider use of the new form and institute a consistent policy in their office to avoid fair housing concerns. A […]

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Broker-Salesperson Commission Disputes

Posted on March 19, 2012 by Michelle Lind

On occasion, a broker and salesperson will get into a dispute over the payment of commissions. These disputes often occur when the salesperson leaves the brokerage firm or when the brokerage firm ceases doing business. Only the Broker May Be Paid a Commission from a Client Under Arizona law, only a real estate broker, not […]

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Truth in Lending Act ~ Disclosures When Credit Advertised

Posted on March 3, 2012 by

The Federal Trade Commission has provided guidelines for advertisers who are subject to the federal Truth in Lending Act. Any person who advertises consumer credit transactions, including real estate agents, can be considered an advertiser under the act, even if not actually extending credit himself. Definitions An “advertisement” is any commercial message that promotes consumer credit. […]

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FAQs on Short Sales & Commissions

Posted on January 2, 2012 by

The increase in the number of short sales has resulted in many questions pertaining to the unique nature of these transactions. Many of these questions concern commission issues. The following Q&A will answer some of the most common questions. For purposes of this article, assume the following facts: The property is listed in the MLS […]

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