Belt Auction

Do real estate agents need to identify themselves as such when buying a house?

I've been told that California requires a licensed agent to disclose to the Seller that they hold a RE license even if they are buying for themselves and not representing another party. I haven't been able to corroborate that any place. Must a licensed real estate agent identify themselves as such when entering into a transaction on their own behalf? If so, where can I find the code section?

Public Comments

1. I have heard the same thing regarding Alabama. It seems logical because the RE agent has knowledge about home values and trends that the general population does not. Not only that, they're very familiar with contracts and such. In other words, they could work you over on the deal. I would check with the local real estate board, but I have no idea how to find it right off. google for it. maybe call the chamber of commerce. your state legislator's office might also be able to help. look in the blue section of the hard copy phone book for the chamber of commerce and the legislator's office. not sure where to fine the real estate board listing - it might be listed under your county name, e.g. Chambers County Real Estate Board.
2. California absolutely requires it. It must be stated right awau during any conversation with anything regrding real estate, whether they are talking to another agent or not. Check with CAR, it is clearly stated there.
3. Here in NM you do it's even disclosed on the purchase agreement between the buyer and the seller. You asked for the code link to the California law, here are links from our research department that might be able to help you REAL ESTATE COMMISSION: http://www.dre.cahwnet.gov/ All real estate laws explained: http://www.dre.cahwnet.gov/reftoc.htm Buena Suerte
4. If you are selling a home without an agent (FSBO) and the buyer is a licensed Real Estate Agent, he/she is under no obligation to inform you. Their profession and license has no bearing on the transaction. Likewise if they are the seller and you are the buyer, they need not discolose their profession.
5. YES you need to disclose. I dont know why, I think its stupid, but we have to. RE Agent, Remax
6. Yes, you are right.
7. You should have an office of the Real Estate Board and they can tell you if this is allowed where your located.
8. Yes, Realtor code of ethics requires it.....go figure a remax agent doesnt want to identify himself, typical, very typical of remax...
9. The answer depends on the state you are doing business in. Ohio requirs disclosure. Any attorney will inform agents and loan officers that there is no such thing as "too much disclosclosure". It is legaly viewed as anyone who is licensed has been trained and has an advantage over the general public. Commercial transactions do NOT require disclosure in any state. It is felt that a business can afford professional legal representation.