Caution...No designated Agency in New Hampshire yet

By
Real Estate Agent with Prudential Verani Realty/Hampstead

But we’re getting closer…

 Today with a standing room only crowd the New Hampshire Association of REALTORS board of directors voted to pass the recommended proposed Designated Agency legislation with some added language presented by the Exclusive Buyer agents. The language added appears in Italics below.

XII. Dual agency does not occur in firms that represent buyers only who have appointed designated buyers’ agents, or firms that represent sellers only who have appointed designated sellers’ agents within the firm.

It passed with hardly a whimper as a jammed room of state directors and visitors alike listened to a brief presentation and then cast a vote.

They cast a vote for all of us today and most importantly for the public. The consumer will finally, if this passes through legislation, get the representation they deserve!

How sweet it will be!

Caution…You Can Not act as a Designated Agent yet….If and I mean If we get through the legislation process we’re looking at maybe 2009 before it becomes law! So Please don’t think you can do it now!

I’ll keep you updated as we go along. Feel free to post a comment or a question and I’ll do my best to get you the answer.

Read more here …What is Designated Agency?

Draft Copy of Proposed Designated Agency Legislation. Without the new language to XII added.

Designated Agency and Facilitation in NH

Till later

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Jay and Monika McGillicuddy, Southern NH and the Seacoast area real estate specialists.

Jay and Monika McGillicuddy, covering southern NH and the Seacoast area. If you’re thinking of selling or buying a southern NH or Seacoast area home give us a call…we’d love to help make your home ownership dreams come true.

E-mail Jay and Monika or call or text at 603-548-7728

Jay and Monika McGillicuddy, NH REALTORS

Prudential Verani Realty

603-944-9172 direct line

603-926-3648 office

 

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Rainmaker
617,639
Randy Prothero
Hawaii REALTOR, (808) 384-5645
Island Style Realty Inc.
Good luck, we are still hoping to get a law change in Hawaii to allow that also.
October 17, 2007 10:14 PM
Rainmaker
315,754
Monika McGillicuddy
Southern NH & the Seacoast Area
Prudential Verani Realty/Hampstead

LOL...Thank you George!

Randy...Keep plugging away at it. We still have a long road to travel. 

October 18, 2007 07:42 AM
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Lenn Harley
Real Estate Broker - Virginia & Maryland
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate

Very interesting.  I predict that the language the EBAs attempt to insert will not make the final cut.  ONLY because of the nature of the business. 

Home owners hire "agents" to sell their home and they expect that agent to attempt to SELL that home, even if it means to a buyer directly.  Consumers don't understand agency.

That EBA/ESA language is a warning to consumers that if you contact a listing company about a house for sale, you may not get "representation" from that company. 

You can count on one hand the number of consumers that understand "representation".  O.K., you might need two hands. 

The EBA/ESA language is a direct threat to listing companies that attempt to sell their listings and shows a preference for a business model.  I don't believe it will make it.  Of course, there's always the chance that the legislature won't notice because they know about as much about agency as the average consumer. 

In my perfect world, there would be ONLY EBA and ESA companies, but that won't happen in my lifetime.

So, we'll get to "designated agency", which means absolutely nothing to the consumers.  To the consumer, an agent is an agent is an agent.  As long as brokers are permitted, by any title or name, to sell their own listings, nothing will change.  Only the name of the agent blowing the smoke will change. 

Word games don't level the playing field.

October 18, 2007 08:16 AM
Rainmaker
315,754
Monika McGillicuddy
Southern NH & the Seacoast Area
Prudential Verani Realty/Hampstead

Word games don't level the playing field...

 You are right about that. But it will allow me to sell an in-house listing to a buyer client without representing some seller that I've never met and know nothing about. I like that idea..I won't "have" to be a dual agent in those circumstances. I like that.

I wonder if the language will stay in as well. We'll see because we still a long way to go. Thanks for commenting Lenn.

October 18, 2007 07:19 PM
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Additional Information

This blog is all about real world real estate from market conditions to community information. It offers a personal perspective and an insider look at real estate, real estate agents and the services they offer. I not only list and sell for a living but I also train other agents on all aspects of real estate sales. View Monika McGillicuddy's profile on LinkedIn