Disclosure...Are You or Aren't You?

Ok. I don't know HOW many times I try to tell people, but you HAVE to qualify prospects BEFORE you take them out on a showing!

Sure, you have a GREAT property to show..BUT....did you even stop to ASK this couple BEFORE you saddled up that pony and trotted them down to your property IF THEY HAD ANY UNEXPIRED AGENCY AGREEMENTS WITH ANY OTHER BROKERS or IF THEY WERE WORKING WITH ANYONE ELSE?

So when I call into the office to ask how things are going, I don't get your attitude!

Sorry, I DIDN'T DO IT! Whatever it is that put that BEE in your BONNETT It wasn't my fault! It says right there in the OFFICE MANUAL to ASK FIRST!

I'm sorry you had to find it out after you took them to your prize listing and THEY told you that THEY HAVE ANOTHER REALTOR THAT THEY ARE WORKING WITH!

AND THEY LIKE HIM JUST FINE!

So, AGENTS! Lissen UP! STOP! LOOK! LISTEN! ASK first! AND WHILE YOU ARE AT IT, HOW ABOUT GIVING THEM THE COLORADO RE COMMISSION APPROVED RE FORM BROKERAGE DISCLOSURE TO BUYER? (BD24 5-09) (Mandatory 7-09)

From the CO RE Manual:

"Brokerage Duties Disclosure to Seller (REO and Non-CREC Approved Listing

Agreements) (Form BDD56)

Brokerage Disclosure to Buyer/Tenant (Form BD24)

* Brokerage Disclosure to Tenant (BDT20)

These disclosures are used when a broker comes in contact with a potential buyer or

tenant and discusses the possible purchase or leasing of property. The property address or

requirements must be included. Also, the broker must state whether: (a) the broker is an

agent of a seller or landlord and the buyer or tenant is a customer; or (b) the broker is a

transaction-broker." (emphasis added)

"E. Other Upfront Disclosures

Tell Others

A broker who has already established a relationship with one party to a proposed

transaction shall advise at the earliest reasonable opportunity any other potential parties or

their agents of such established relationship.

Transaction-Brokerage

Prior to engaging in any brokerage activity, a transaction-broker shall disclose in writing

to the party to be assisted that such broker is not acting as an agent for the other party and

that the broker is acting as a transaction-broker."

So, Brokers! Maybe it's time to REVIEW and UPDATE that OFFICE MANUAL!

Note to self: UPDATE & REVIEW OFFICE MANUAL!

I gotta say, as much as I try, I don't always get out the words "Just so you know, I am a SELLERS AGENT or TB or BUYERS AGENT" for XXX. Here is a Colorado RE Commission disclosure that outlines my current agency and duties; would you mind taking a minute to REVIEW and ACKNOWLEDGE in WRITING this disclosure?"

So take a min. Review with your agents this particular policy. It may save you a bit of Grief down the road!