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Get the Facts is a weekly e-mail newsletter sent to all members and affiliates on Tuesday afternoon. Regular features include the Legal Hotline Q & A of the week, career help resources, real estate news and more. These emails are automatically sent to members so if you're not receiving them, first check your spam folder, then email cara.mcneil@warealtor.org.
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Get the Facts 01.02.24

Agency Law Changes Now in Effect in WA
 
Welcome to 2024! As we embrace the New Year, it's essential to reflect on the diligent preparation Washington brokers have undergone to ensure a seamless transition into 2024's real estate landscape. There are significant legal changes impacting real estate transactions...namely, the mandatory naming of brokers in brokerage service agreements. This legal requirement, now embedded in law, dictates that every agreement between a firm and a consumer must clearly identify the specific broker representing them, whether for selling or buying. 

Agency Law Change Summary
  1. Washington’s Agency Law has been revised and took effect January 1, 2024.
  2. Increases transparency for buyers and sellers
  3. Requires brokers to negotiate and enter a written contract with their client
  4. Requires consumer consent to dual agency
  5. Re-writes the Agency Law Pamphlet into lay terms
  6. Clarifies that minimum agency duties are owed to all parties

Resources for Understanding These Changes

  1. Forms Information & Bulletins
  2. Operation Evolve Classes
  3. Operation Evolve Legal Hotline Video Playlist
  4. DBrief Series for Designated Brokers/Owners and Industry Leaders
  5. Legal Hotline Teaching PPT Tool for DBs and Industry Leaders
  6. New Q&A Category "2024 Agency Law Changes" in the Legal Hotline Database
If you have questions about this or any other real estate legal topics, visit warealtor.org/legal-hotline and log in to ask a question!
 
 Agency Substitutions and Team Scenarios
 
Recognizing the complexity of Agency Law Changes and how they apply to team scenarios, we are appealing to YOU for industry input! Legal Hotline Lawyer Annie Fitzsimmons encourages brokers to email their specific team scenarios to legalhotline@warealtor.org. This collective input aims to aid discussions with Department of Licensing staff, ensuring that future guidance is comprehensive and relevant to a broad range of real estate teams.  

Who Doesn't Love FREE Clock Hours? 
  
Join us for the FREE At Home With Diversity® course on January 10th & 11th! The At Home With Diversity® (AHWD) certification course covers how to work effectively with diverse populations so you can build business success in today’s multicultural real estate market. Let us help you start 2024 off right - register here today. 
 
Register Here

Legal Hotline Q & A 

Q&A of the Week 01.02.24