Agency Law Resources
Chapter 18.86 RCW is Washington’s real estate agency law, which governs various legal requirements for brokers and firms providing real estate brokerage services. This law has not been revised for more than 25 years, and should be updated to reflect consumer expectations and industry practices. Washington REALTORS® is developing legislation that would amend the agency law to increase transparency and improve consumer understanding of real estate brokerage practices.
WR has conducted exhaustive research on this topic, including a Presidential Advisory Group appointed by 2022 President Cheri Daniels. Below is some of the documentation on the issues that Washington REALTORS has used to communicate with members and support the decision to move forward with changes to the existing agency law.
Statement from Washington REALTORS® President Alisha Harrison on the Burnett v. NAR et al Jury Verdict
Following the Burnett v. NAR verdict, Washington REALTORS® highlights its proactive approach to industry changes, emphasizing the forthcoming transparency-focused Agency Law effective January 1, 2024. The association provides resources and educational tools to assist brokers with the transition. Washington REALTORS® President, Alisha Harrison, expresses gratitude to members and reaffirms the organization's commitment to excellence.
At the Intersection of the 2023 Forms Revisions and Best Practices
On July 11, 2023, 31 of the statewide forms were revised and half a dozen new forms were introduced. All of the revisions and new forms are important but none of the changes are likely to cause a huge change in the way you do business or the way you draft offers and counteroffers.
Industry Evolution: A Better Future for Consumers & Brokers
The theme of the Bill is transparency. The revisions to the Act suggested by the association will increase transparency for buyers with respect to the services and compensation of the buyer's broker; increase transparency for buyers and sellers who work with a dual agent regarding the limitations of a dual agent's advocacy; and improve understanding of brokerage relationships for consumers and brokers alike with a rewriting and simplification of the Agency Law pamphlet (the "Pamphlet")...
Real Estate Agency Law Reforms – Bill Summary
Washington State’s real estate agency law, Chapter 18.86 RCW, has not been updated since its adoption in the 1990s. Existing law does not require certain basic consumer protections, and does not reflect modern industry best practices. This legislation will both protect consumers and avoid litigation seen in other states.
Agency Law: The Good, The Bad and The What-Could-Be-Better
This is the second article in a three-part series considering industry evolutions related to the Washington State Agency Law. The first article discussed the changing industry environment that is being pushed by legal, regulatory, market and other conditions. This article will take a closer look at our state’s existing Agency Law and discuss what it does well and where it needs to evolve in light of industry pressures....