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

my-sig.png

Posted by

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

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
New Hampshire
Groups:
Agency Laws
Tags:
designated agency
nh real estate blogs
nh real estate training
monika mcgillicuddy

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tree to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Anonymous
Anonymous
Anonymous

Monika -Here in Texas if you're the selling agent and you get the buyer you are allowed to represent both, but you can't advise your parties...only tell information. It's like working with your hands tied and not doing a good job for either party.

When I have both sides I tell my clients that I will have another agent represent the buyer in a consulting capacity. That works best for all involved. I had a situation once where I had both sides and it was the father buying the son's house. Yikes..it got very emotional. I will not do both sides any more!

I see agents take both sides all the time just to get all of the commission, but I don't think you're representing the best for your clients.

Oct 17, 2007 07:08 PM #3
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

Linda,

I've been a Dual Agent so often..I can do it with my eyes shut. But I really welcome the thought of not having to be one and reducing my liability. So in Texas you can represent but not advise?

Oct 17, 2007 07:13 PM #4
Anonymous
Anonymous
Anonymous
Yep. You become just a paper pusher at that point.  If there's counter you can't advise your client how they should respond. It's totally up to them how they choose to respond. I think it's kind of silly because they hire you to advise them, but when you bring the buyer that capacity goes out the window.
Oct 17, 2007 07:16 PM #5
Anonymous
Anonymous
Anonymous

I'm not sure if not being able to advise covers non-verbal expressions! I've gotten pretty good at eye rolling and facial expressions! LOL

Oct 17, 2007 07:19 PM #6
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area
LOL...Linda I can just see your expressions now! You ought to do a Virtual tour with your expressions and what they mean.
Oct 17, 2007 07:21 PM #7
Anonymous
Anonymous
Anonymous

Oh, Monika...that would scare away potential clients if they saw me! You're too funny!

This is totally off topic, but do you teach CRS?

Oct 17, 2007 07:24 PM #8
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

LOL..I though that sounded like a great idea!

Nope I teach ABR,SRES and GRI plus a bunch of other elective classes.

Oct 17, 2007 07:32 PM #9
Anonymous
Anonymous
Anonymous
Darn, that designation is my next step and I thought it would be fun to come up and take your class!
Oct 17, 2007 07:47 PM #10
Rainmaker
335,122
Ann Cummings
RE/MAX By The Bay - NH and Maine - Portsmouth, NH
Portsmouth NH Homes - Service With a Smile!

Monika - YAY!!

I'm so glad this is going the path it is - it's LONG OVERDUE in my opinion.  We've been able to practice this way in Maine for some time now, and it's about time we in NH get with the program and allow our agents to practice this way.

I realize we still have a way to go, but one step at a time.

YAY!!!

Oct 17, 2007 07:58 PM #11
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

Bummer Linda..That would have been fun!

Ann....YAY...is right! lets hope it sails through!

Oct 17, 2007 08:29 PM #12
Rainer
68,801
Judy Tuscano
Prudential Verani Realty - Nottingham, NH
NH Real Estate Professional

Moni,

I'm glad to hear the news is good for designated agency here. I think it is the right thing for our clients to get the representation they pay us for.

Judy t

Oct 17, 2007 09:46 PM #13
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

Thanks Judy. It's nice to see you out in the Rain...isn't this a neat place to hang around a bit?

 

Oct 17, 2007 09:48 PM #14
Ambassador
1,865,277
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert
Monika, congratulations on the passage of this today by the Realtors.  But it looks like it still has a long way to go if you are not anticipating it becoming law until 2009.  WOW that is a long time.
Oct 17, 2007 09:51 PM #15
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

George,

It is a long time...but you know us we waited 86 years for the curse to be lifted...we can wait till 2009 for this. :)

Oct 17, 2007 09:54 PM #16
Ambassador
1,865,277
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert
Monika ........ LOL, I love your positive attitude :)
Oct 17, 2007 10:04 PM #17
Rainmaker
622,095
Randy Prothero
Island Style Realty Inc. - Mililani, HI
Hawaii REALTOR, (808) 384-5645
Good luck, we are still hoping to get a law change in Hawaii to allow that also.
Oct 17, 2007 10:14 PM #18
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

LOL...Thank you George!

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

Oct 18, 2007 07:42 AM #19
Ambassador
2,389,818
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

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.

Oct 18, 2007 08:16 AM #20
Rainmaker
315,770
Monika McGillicuddy
Prudential Verani Realty/Hampstead - Hampstead, NH
Southern NH & the Seacoast Area

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.

Oct 18, 2007 07:19 PM #21
Anonymous
Anonymous
insurance quotes
iyprn6s-znly544-tw6qb08d-0 free poker
Dec 04, 2008 11:45 AM #22
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
315,770

Monika McGillicuddy

Southern NH & the Seacoast Area
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information