A bill that would require real estate agents to present all offers to their clients unanimously passed the Idaho House of Representatives. If the bill becomes law, it would prevent real estate agents from listing a house on the Multiple Listing Service for a client while allowing the client to represent themselves during the remainder of the transaction. Some real estate firms, such as Boise-based Fizbomap.com, offer those services.
Rep. Jim Patrick, Twin Falls, said the bill protects homeowners who want to sell their home by ensuring they have adequate representation from real estate agents. It also protects brokers, who could become liable if they are working with a buyer and asked for advice from the seller. The agent might tell them his buyer’s offer is a good one, not knowing a better one was out there.
The bill would not affect homeowners’ ability to sell their homes using newspaper advertisements or other methods, Patrick said. Fizbomap co-owner Heinrich Wiebe has said his customers feel comfortable representing themselves. Only one has ever asked him for assistance in understanding an offer, even though Fizbomap’s parent company, Genius Realty, offers that service. Wiebe said the bill would only reduce customer choice.
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4 Comments
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What a sham. The "we're doing this to protect the consumer" rhetoric is painfully transparent. The IAR bought this legislation, pure and simple, to protect their franchise. Consumers will be no better protected or represented as a result of this legislation, and no one (outside of the IAR) thinks otherwise. Comment By Erich Zimmerman
Sunday, February 25, 2007 @ 10:09 PM
I completely agree, more micromanagement by the imperial legislature to maintain a pure rent-seeking franchise, now being hammered by those 'gales of creative destruction', courtesy of technology & the Internet. Comment By Bill Sellers
Monday, February 26, 2007 @ 7:11 AM
O.K. I'll play devils advocate. The bill not only protects sellers, but the brokerages attaching their names to the unrepresented listing. Again, there are other venues for savy sellers to market their homes other than the MLS. Comment By tf
Monday, February 26, 2007 @ 8:19 PM
Funny how the legislature is so concerned about the poor seller who are not asking for anything other than exposure of their home for sale. These sellers feel they can handle their own negotiations or they would not opt for this service. Why is it the legislature is concerned about these poor sellers. Could it be they are loosing business to these new business models? Why is it this bill only provides for better service to sellers when we all know it is the buyer who needs more protection. Try working with a seller or getting their home in the MLS without a contractual agreement. No contractual agreement is even suggested when working with buyers. Could it be the big brokerages are not loosing buyer business? This is restraint of trade, pure and simple, and I am very sure you will be hearing that from consumer organizations before too long. Tom Early Comment By Tom Early
Wednesday, February 28, 2007 @ 10:29 AM
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