Changes in Hawaii Dislcosure Rules on the MLS - Are they Stoned or just Stupid?

I know Hawaii is known for its great local source and high quality Pakalolo (marijuana) but apparently we need to clamp down on it some. It appears that a few squeaky wheels have brought about an insane rule change with disclosing licensing status on active listings. It is now mandatory that we are not allowed to disclose the fact that the Listing agent is - Owner/Part Owner/or Related to the owner of an active listing - in the Public Comments - It now must - I repeat Must - be put in the private remarks! No longer can it be put out publicly - that would be considered a form of - CONTACT INFORMATION - not allowed by the MLS in the public section.

Now in Theory what they are claiming is that if I am working with a Realtor - and he gives me 20 listings to look at - and I see one I like - and it says - Owner is Listor - then I am going to go down to the local tax office, stand in line for an hour - be treated like ...... , Then get the owners name, then write him a letter, and strike up a deal with him - not using my Realtor (2 weeks down the road)????

But now let's say that I get that same listing I like, and I am that same snake in the grass that wants to side step my buyer's agent, and just use him for his listings. I now have MLS 203899 in my hot little hands - now it no longer has the licensing disclosure on the public comments - what do I do - why I just go over to the public side of my - Hawaii MLS - anybody can use it for free - I type in MLS # 203899, and - poof - in 1 split second - there is the listing agents contact information, Cell Phone, Fax#, Address, even a Google map of where that listing is.

For years Hawaii has always put the Disclosure in the Public Comments side of the listing - from day one I have always been taught about the importance of - Disclosure - Disclosure - Disclosure - so why in 2008 would we want to take a step backwards in time - back when Realtors were like used car salesmen, and try and hide the fact - until the last minute - that the listing agent has an interest in the property listing that is for sale? Somewhere on page 12 of the contract - there is a box that you check - that states that the listing agent has an interest in the sale of this property. And by checking that box, you have satisfied State Law!

I know most of you get it by now, but maybe some of you don't see what I am getting at. Let's just say that 2-3 months after the sale - the exact same home next door to my house comes on the market, and now it is a $100,000. Less than what you just bought yours for. Whats the first thing that client is going to do - he is going to call his Attorney, he is going to tell them that he was taken advantage of, by 2 trained Realtors, and that he paid $100,000 to much - and now wants it back! Ya Right - you think. But he makes the case to the Judge, that this would have been an important part of his decision making - he was told what County he was in, what schools his kids would go too, what his taxes would be, all things that he thought were important, But he was not told until the last minute that the listing agent actually owned the house he was buying - he should have been given time to research that also, your Honor , I mean it is so important that Hawaii made it a law to disclose this information, Why did they wait until page 12, when I was under the "ETHER" , I had been signing for the last hour, I thought I already owned the property - or at least close to it - the agent just brushed over this page. Why wasn't I told that upfront, when I was given all the other information??? You get what I am saying.

Disclose - Disclose - Disclose - Lets keep it in the public comments - lets keep our reputation - lets be professional.

Let me know what your thoughts are about this

Aloha and have a great day

Lance Owens (RS)

(808) 936-8383

Lance@KonaHomeTeam.com

http://www.konahometeam.com/

Aloha Kona Realty Inc.

78-6740 Alii Drive