Friday Video Update

In Part three of our Industry Evolutions series, Annie Fitzimmons and Eric Johnson, Broker/Owner of Coldwell Banker Tomlinson North in Spokane, discuss statewide forms revisions going live on October 3rd. In this third video in the series, Annie and Eric discuss the forms language on Form 21, new paragraph 16, and how it changes the way buyer broker is compensated in a real estate transaction. Also discussed is the reasoning behind the change, and the goal of greater transparency for consumers in the transaction process.

In Part two of our Industry Evolutions Series, Annie Fitzsimmons and Eric Johnson sit down and further discuss the upcoming forms changes on October 3rd. In this video, Annie and Eric dive into the changes and the language REALTORS will need to get accustomed to after October 3rd of this year, particularly when it comes to buyer broker compensation and consumer transparency regarding buyer broker commissions. Be sure to like, share and subscribe!

In Part 1 of our Industry Evolutions series, Annie Fitzimmons and Eric Johnson, Broker/Owner of Coldwell Banker Tomlinson North in Spokane, discuss the new forms changes going live on October 3rd. This forms change is specific to buyer brokers compensation and will change the was you do business. In this introduction to the series, Annie and Eric discuss the national landscape that is propelling this industry evolution forward. Be sure to share and subscribe!

Annie Fitzsimmons (WR's Legal Hotline Lawyer) starts off a new Legal Hotline series called "Perspectives on a Transitioning Market" with this week's guest Shelly Schmitz (Designated Broker with Keller Williams Premier Partners). In this first episode Annie & Shelly introduce the multi-part series which focuses on the perspectives, observations, and concerns, of a variety of industry professionals (ranging from Lenders, Brokers, Inspectors, and more), on our current housing market. Stay tuned for what is sure to be a very enlightening series.

In today's Legal Hotline, Annie Fitzsimmons (WR's Legal Hotline Lawyer) answers a question she's been receiving more and more frequently... Did the Buyer Broker waive the Buyer's Inspection Contingency by providing a copy of (blank)? The "blank" could be a number of things, such as, the Inspection Report as a whole, a copy of a page from the Inspection Report, or even a Roof Inspector's Report... each example being information that should not be provided to the Listing Broker or the Seller. Watch for Annie's explanation of why this is important along with what you can provide. Please like, share, and subscribe today!

Today's Legal Hotline video reviews a question that Annie Fitzsimmons (WR's Legal Hotline Lawyer) receives on a daily basis... "Do I have to disclose" (from the Broker) or "Must Seller disclose that... ?" — typically regarding some sort of material information about the Seller's property, such as, being haunted, the location of a suicide, near a homeless camp, or near unpermitted construction work... Listen in as Annie explains how this situation could make you run afoul of your Agency Law duties (along with details of the Seller Disclosure Act). Be sure to like, subscribe, and share!

In this week's Legal Hotline, Annie Fitzsimmons, WR's Legal Hotline Lawyer, discusses Nanny Cams and Door Bell Cameras (that record audio and video) in and on the Seller's property and how that technology can have a risky impact, especially when conversations get recorded without knowledge/consent. Listen in as Annie explains what could happen in this scenario. Be sure to like, subscribe, and share!

Mistaken Identity: Forms is back with part 7 (the series finale episode!)... Annie Fitzsimmons, WR's Legal Hotline Lawyer, returns to further discuss forms 35R (Inspection Response) and 51 (Rescission Agreement) as they relate to a buyer or seller's "unilateral right" to terminate the transaction based on their specific contingencies. Having a "unilateral right" to terminate the agreement would mean that only the signature of the terminating party would be needed to effectively end this agreement. Watch now for Annie's breakdown of why it's important to utilize a proper "notice" form. Be sure to like, subscribe, and share!

WR Past President Tom Hormel explains some of the important changes that are taking place for our NAR Director Election/Selection Changes. This video is for NAR Director Candidates and those wishing to apply.

Annie Fitzsimmons, WR's Legal Hotline Lawyer, is back for episode 6 of "Mistaken Identity: Forms" to talk about the mistaken use of Form 22Q (Sale Pending) when working with a home sale contingent buyer (a 22B buyer) ...after they've sold their home! Listen in as Annie breaks down this mistaken use of NWMLS forms.

The issues that REALTORS® fight are constantly evolving and changing every year. Whether it be flood insurance, interest rates, FEMA issues, property taxes, capital gains taxes, 1031 exchanges and more - RPAC enables REALTORS® to continue to fight for property owners everywhere.

Our Legal Hotline Series, Mistaken Identity: Forms is back with episode 5. In this video Annie Fitzsimmons (Washington REALTORS® Legal Hotline Lawyer) talks about why the Form 38A (the backup addendum) is NOT the same thing as a Form 39 (the second buyer’s addendum). This mistaken identity runs into issues when the seller has sold their home to a ‘Form 22B buyer’ — a home sale contingent buyer — and the seller is still looking for another buyer (a ‘bumping buyer’) in case this initial buyer isn’t able to satisfy or waive their home sale contingency. Watch now for Annie’s explanation of which form is right for the job. Be sure to subscribe and share!

In part 4 of our Mistaken Identity: Forms Series, Annie Fitzsimmons (WR’s Legal Hotline Lawyer) discusses not a mistaken identity per se, but rather, a mistaken use of a provision called the ‘Information Verification Period’ (section W.) within Form 21 (Purchase and Sale Agreement)… this provision allows a Buyer to terminate the Purchase and Sale Agreement within 10 days if Buyer discovers a material inaccuracy in any of the Seller’s representations made by Seller… some Buyer Brokers mistakenly believe this allows them access to the Seller’s home to test those representations via inspection, but it, in fact, does not in any way allow for that — with or without a home inspector, but without an Inspection Contingency (Form 34) Buyer won't have any basis to terminate -- watch as Annie explains -- be sure to subscribe and share!

Listing Broker wants to write a counteroffer to the buyer’s offer... what form do you use to get the job done? In the 3rd episode of Mistaken Identity: Forms, Annie Fitzsimmons (WR's Legal Hotline Lawyer) discusses whether a Form 36 (Counteroffer Addendum) or a Form 34 (Addendum to the Purchase and Sale Agreement) is the right form to use and what the outcome could be for using the wrong form. Watch now and be sure to subscribe and share.

In part 2 of Mistaken Identity: Forms, Annie Fitzsimmons, WR’s Legal Hotline Lawyer, talks about which form to use when the Buyer has finished their inspection and has decided to terminate the Purchase and Sale Agreement with the Seller. Form 35R is the Inspection Contingency Response form and Form 51 is a Rescission Agreement — do you know which one is the right one? Watch now to hear Annie’s answer.

Are you using the right form? Does it really matter if I use this form or another to get it done? It can become a serious matter for Buyer Brokers and Listing Brokers alike if the wrong form is used, especially when you are held to the standard of care of a lawyer in your transaction dealings. Annie Fitzsimmons, WR’s Legal Hotline Lawyer, begins a new Hotline series called "Mistaken Identity: Forms" The first video addresses the difference between Form 35R and Form 34, and why they cannot be used interchangeably. Subscribe and share!

There's a new kind of scam to be wary of and Annie Fitzsimmons, WR's Legal Hotline Lawyer, breaks it down for us. This latest scam involves online ads advertising homes for rent that are actually in the process of being sold... getting as far as a lease agreements with tenants, now occupants. Listen in as Annie explains this latest grift and what you can do to help prevent it.

In the final video from the Professionalism series, Annie Fitzsimmons (WR's Legal Hotline Lawyer) and series guest, Camden Schutte talk about Buyer Broker Commissions in this quickly changing market. Watch, share, and subscribe!

In this week's episode of Professionalism: Multiple Offers From The Same Buyer. Annie Fitzsimmons (WR's Legal Hotline Lawyer) and series guest, Camden Shutte discuss issues in the market related to buyers making offers on multiple properties at the same time, and the legal ramifications for the broker.

In this week's episode of Professionalism: For the Broker Who Wants a Career & Not a Job, Annie Fitzsimmons (WR's Legal Hotline Lawyer) and series guest, Camden Shutte discuss issues in the market surrounding VA Buyer offers and views of financing and loans for VA Buyers. Watch now & be sure to share and subscribe!