This document is a seller's guide from Lovejoy Real Estate agents Jenny and Charles Turner that provides information about their real estate team and services. It includes their contact information, profiles of their real estate agents, details of their Extraordinary Service Guarantee for home sellers, an introduction and overview of the guide's contents, and maps of Portland neighborhoods and SW Washington areas they serve. The guide aims to help home sellers understand the team's expertise and process for marketing and selling homes.
2. 2
Seller’s Extraordinary
Service Guarantee
Extraordinary Service Guarantee for the Home Seller
The Extraordinary Service Guarantee is your written commitment from
Jenny, Charles, and the Turner Team Realtors®
assuring the delivery of all of the services described below.
As your Real Estate Professionals, we will:
1. Present an agency law pamphlet and explain
agency relationship.
2. Create and present a detailed, written
marketing plan including specific strategies,
programs, and buyer targets.
3. Recommend property merchandising and
enhancements to maximize marketability.
4. Explain home warranty services and
providers such as American Home Shield,
Landmark Home Warranty, and Old Republic
Home Protection.
5. Provide a written estimate of seller expenses
and proceeds.
6. Review your property history and disclosure
statement and deliver it to each prospective
buyer.
7. Committoregularcommunicationincluding
prospect market and feedback.
8. Provide advice and negotiating assistance
on all offers.
9. Forward financial information as provided
by the buyer and make every effort to have
each buyer pre-qualified or pre-approved
with a lender.
10. Monitor and communicate the status and
satisfaction of contract contingencies.
11. Offer home purchase assistance, referral
services, and access to community and
property information.
12. Contact you and follow-up after closing
to assure the satisfactory completion of all
service details.
13. Offer you the opportunity to evaluate the
services after closing.
3. 3
Introduction for the Home Seller
Thank you for the opportunity to let us represent you in the sale of your home. We think of our clients as individuals
with specific needs. With this in mind, we strive to give you exceptional service. No two real estate transactions are
the same but regardless of your goals we can help you make the informed and educated decisions that best suit your
situation.
We, Jenny and Charles, teamed up as Realtors in 2003. Every year since then we’ve continued to grow and improve
the service and expertise we are able to offer you. In 2010 we incorporated, in part to underscore that real estate is
a business, not a part time hobby. Our current business is made up of more than fifty percent past clients and client
referrals. Earning your repeat business and referrals is our main goal. Our unique team structure allows us to serve the
entire Portland Metro including SWWashington. We have the tools and expertise to guide you through any residential
real estate transaction.
This guide provides an overview of our
team and of the buying process:
• Seller’s Quality Service Guarantee......................................................2
• Introduction................................................................................................3
• The Turner Team........................................................................................4
• Press & Award Highlights.......................................................................6
• Portland Neighborhoods.......................................................................7
• SW Washington..........................................................................................8
• Marketing Tools We Use to Sell Homes.............................................9
• Home Warranty........................................................................................10
• Mortgage Brokers Recommended by Past Clients.....................11
• Moving Checklist.....................................................................................12
• Services You May Need.........................................................................13
• Top Home Renovations for Maximum ROI.....................................14
• What Our Clients Have to Say.............................................................15
• Happy Clients...........................................................................................16
• Oregon Real Estate Agency Disclosure Pamphlet.......................17
• The Law of Real Estate Agency...........................................................19
Jenny Turner
Managing Principal Broker, MBA
503.312.4642 • Jenny@LovejoyRealEstate.com
Licensed in Oregon & Washington
Jenny holds an MBA from Portland State University as well
as an undergraduate degree from Lewis & Clark College.
Her certifications include Graduate Realtor Institute (GRI)
and Certified Negotiation Expert (CNE). In addition to a
wealth of knowledge and experience in real estate and
being a licensed broker in both Oregon and Washington,
Jenny has a passion for the communities she serves. She
and her husband, Charles, reside in Northwest Portland
with their son, Ryan. Her passions for family, community,
and helping people achieve their dreams are evident in
the diligence she brings to every transaction, relationship,
and engagement in her life.
Charles Turner
Principal Broker, MBA
503.936.7764 • Charles@LovejoyRealEstate.com
Charles brings a wealth of knowledge to this team.
com. He holds an MBA from the Atkinson Graduate
School of Management at Willamette University and an
undergraduate degree from Lewis & Clark College. His
certifications include completion of Graduate Realtor
Institute (GRI). Like his wife and business partner,
Jenny, Charles has a great love for his community.
He serves as a member of the Ambassador Board for
the Oregon Chapter of the Make-A-Wish Foundation.
In addition to a love of family, community, and real
estate, Charles also enjoys sailing, skiing, and cycling.
4. 4
The Turner Team
The Turner Team’s Realtors®
Jessica Berger • 503.703.1712 • Jessica@LovejoyRealEstate.com
Jessica joined our team as a graduate of the University of Oregon and has a passion for assisting buyers and
sellers, which is evident in any interaction with her. She lives in the Hawthorne neighborhood with her husband
and loves family as well as supporting children in the community. Some of her favorite activities include wine
tasting, fashion, and studying architecture.
Lisa Carter, Oregon and Washington Broker • 503.757.7283 • Lisa@LovejoyRealEstate.com
Lisa is one of our dual state brokers – licensed in both Oregon and Washington. She joined the team as a graduate
of Oregon State University and our Washington Director of Sales. Clients truly appreciate her patient, friendly,
compassionate, and understanding manner. In addition to spending time with her husband and three children,
Lisa also is passionate about serving her community in Brush Prairie.
Susan Horvat, Oregon Broker • 503.949.3899 • Susan@LovejoyRealEstate.com
Susan has been licensed working with buyers & sellers for over 6 years. She is an Accredited Buyer Representative
(ABR). After living in the Salem area for many years, Susan now lives with her husband in the Tualatin area and
loves to spend her spare time with her grandchildren.
Ray Gardner, Oregon and Washington Broker • 971.226.7729 • Ray@LovejoyRealEstate.com
Born in Chicago and raised in Oregon wine country, he has become rooted in the Portland community and
lifestyle. While he enjoys the outdoors and baseball, his real passion is helping people and building relationships.
He is very outgoing and will treat every one of his clients as if they are family. He wants to please people and earn
their trust, so you can be assured that he will work tirelessly to not get you just any deal but the very best deal.
Nancy Franco, Oregon Broker • 503.334.9760 • Nancy@LovejoyRealEstate.com
Nancy has lived and grown up in Portland for the past 26 years. Raised in NE, she has seen the growth of what
Portlandhasbecomeandcontinuestobecome.Fromallthecornersofourbeautifulcity,ourartisticneighborhoods
we know as NE Alberta, to SE Hawthorne, to the high rises of the Pearl District, South Waterfront, charming NW,
and back to our up and coming N Williams, N Vancouver, to historical St. Johns. Nancy comes with a lot of real
estate knowledge in owning, renting, renovating, condo conversion, and creating LLC ’s and Corporation’s.
Nancy is also involved in giving back to the community, through volunteer work. Nancy is bilingual-Spanish
speaking, loves to travel, read, be outdoors, learn new languages and cook. Nancy resides in St Johns with her
family and their blue nosed pit Romeo.
5. 5
The Turner Team
The Turner Team’s Realtors®
Melissa Messner, Oregon Broker • 971.404.8078 • Melissa@LovejoyRealEstate.com
Melissa has brought her talents for fulfilling client’s needs and wants as a longtime, cherished public librarian, to
the vibrant Portland real estate market. She has unshamedly fallen in love with Oregon, since moving to Lake
Oswego from Redondo Beach, CA with her family. She is delighted to help buyers discover and own the home
of their dreams, especially in her beloved new home town. She is passionate about serving her community as a
member of the Lake Oswego Arts Council,Village on the Lake HOA Social Chair and the lead for Friends of Lily Bay.
Kris Whitby, Oregon Broker • 503.726.6277 • Kris@LovejoyRealEstate.com
Kris comes to the Turner Team with years of experience in the hot Portland real estate market. She is a native
Portlander and loves where she works and lives. In addition to her Oregon Real Estate license, she has an Interior
Design degree, which makes her an asset when staging a home for sale or when going through a home inspection
with a buyer. Prior to being a Realtor, Kris was a middle school science teacher for 12 years.
Shayda Rohani, Oregon Broker • 503.481.4601 • Shayda@LovejoyRealEstate.com
Shayda is passionate about people and design, so it makes sense that the marriage of these two loves led her to
Real Estate. With degrees in interior design and marketing, and over 5 years in sales, interiors, and photo styling
- she is the consummate perfectionist when it comes to providing you the very best care and customer service.
When her sleeves aren’t rolled up at work, Shayda loves spending time with her family outdoors, drawing with her
daughter, reading design blogs, playing soccer, and cooking up a storm for family and friends.
Krista Larke, Oregon Broker • 503.480.6992 • Krista@LovejoyRealEstate.com
As a 4th-generation Oregonian, Krista holds a deep knowledge of local culture and history and has lived in several
communities throughout the Portland area. In conjunction, with a diverse professional background having
earned advanced degrees in English and Education, Krista holds over fifteen years of experience in the residential
building industry in both finance and project management, including interior design and marketing. She has a
keen eye for a home’s potentiality along with a pragmatic mindset to best serve clients. Krista lives in NW Portland
with her children. In her free time, she enjoys trail running, hiking, skiing, windsurfing, reading, cooking, and
teaching Great Dane pup Sasha how to be a good dog!
.
Doug Boe, Oregon Broker • 503.816.4222 • Doug@LovejoyRealEstate.com
Doug joined theTurnerTeam after a long career in the HighTech industry. He grew up in the west hills of Portland
and resides in Lake Oswego, he enjoys meeting new people and building lifelong relationships.
Now he has a passion for soccer, cooking, travel, wine tasting, triathlons and hiking in the Columbia River gorge
with his wife and two daughters. I’ve lived in a number of other states including California, Texas, Virginia,
Pennsylvania, Minnesota and Idaho and his travels have taken him to many different countries allowing him to
experience their diverse cultures. He is a Veteran of the US Navy.
6. 6
The Turner Team @ Lovejoy Real Estate
Press & Award
Highlights
• Rebranded as Lovejoy Real Estate
2018
• Opened new offices in Pearl &
Battleground
2017
• #4 Group Keller Williams Realty
2016
• #3 Group Keller Williams Realty
2015
• Portland Business Journal’s Top
100 Fastest Growing Private
Companies
2013
• Portland Monthly 5 Star Agent
• Keller Williams Double Platinum
Award
2012
• Atlantic & Pacific Real Estate: Top
Agents Nationwide
• Portland Monthly 5 Star Agent
2011
• Portland Business Journal’s Forty
Under 40 awarded to Charles
2010
• Prudential Chairman’s Circle
Platinum
• 2nd Quarter Top Three Sales
Professionals in Oregon for units
& GCI
• Oregonian Alphabet District
Neighborhood Profile Article
• Portland Tribune Article
• Portland Mercury Article
2009
• Prudential Chairman’s Circle Gold
• KOIN News TV Interview
2008
• Prudential Chairman’s Circle Gold
RISMedia Realtors on the Rise
• NuWire Investor Article
2007
Our unique team
structure allows
us to serve the entire
Portland Metro including
SW Washington. We have the
tools and expertise to guide
you through any residential
real estate transaction.
The Turner Team’s Administrative Staff
Nicole Rodriguez, Team Manager
503.939.8365 • Nicole@LovejoyRealEstate.com
Nicole, joined the Turner Team as an Inside Sales Agent and was promoted to Team
Manager. With an extensive background in office management, as well as client
relations and database management, she provides the backbone of procedural
efficiency and the frontline of practical professionalism upon which operations
revolve for our team. She is a native Oregonian. In her spare time, she loves spending
time with her family, cooking, and traveling.
Carla Chan, Transaction Coordinator
503.501.2371 • Carla@LovejoyRealEstate.com
Carla has been a member of the Turner Team since 2011 and she takes care of
most of the administrative tasks with the team’s listings and sales transactions. A
self proclaimed stickler for order and organization, she and the admin team she
manages love helping the rest of the team by making sure everything is in order.
When not at work, you can find Carla at the dance studio or at the gym.
Raymond Chan, Marketing Coordinator
971.244.8762 • Raymond@LovejoyRealEstate.com
Raymond is the team’s Marketing Coordinator, with responsibility for all marketing
materials for our listings. This includes flyers, websites, weekly reports, and
brochures, to name a few. He also works on the team’s marketing; helping create
guides, presentations, and promotional content for events we hold. With his creative
energy and technology prowess, Raymond enjoys working on various graphic
design projects for the company.
9. 9
Marketing Tools We Use to Sell
Homes
• Professional photos of home
• Virtual tour published online
• HD video posted to YouTube and linked to
other social media and real estate sites
• Rotating featured listing on LovejoyRealEstate.com
• Premium placement on Zillow, trulia, hotpads.com,
and more!
• Your home’s own website with its own domain:
www.youradddress.com and dedicated text message
number with the listing’s details
• Matterport 3D tour
• Facebook and Instagram placement
• Coming soon to build excitement
Internet
• Install electronic lockboxes for easy access
• Install a traditional“For Sale”sign
• Broker’s Tour – Open House for Realtors
• Open House(s) – if you want them
• Paperless Permanent Flyer with property’s details
outside and full color flyers inside
At
Your
Home
• Recyclable“Just Listed”
postcards mailed to
neighbors inviting them to
the first open house.
Print
Media
• Options for Home Warranty Services during the listing period and optional
buyer coverage
• Realtor feedback — know what the agents that show your home think
about your home!
• Professionally measured floor plan
• “For Sale” sign phone number rings multiple numbers to help capture
buyers for your home.
Other Benefits of Listing with Us
10. 10
Home Warranty
What is a home warranty?
A home warranty is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of home system
components and appliances.
Why do I need a home warranty?
While a home warranty is optional, it is highly recommended. Unexpected repair or replacement costs can easily strain your budget. Plus, finding
a qualified professional to solve your problem can be stressful and inconvenient. A home warranty cannot prevent systems or appliances from
breaking down, but it can help make handling covered repairs or replacements easier and less costly.
Types of coverage
Because all plans differ, you will need to ask specifically what is covered. We are happy to discuss with you the different options and what best fits
your needs.
How do I acquire a home warranty?
A home warranty can be purchased by the buyer on your own, purchased by the seller while their home is on the market, or negotiated during
the sales agreement.
Recommended Home Warranty Providers
American Home Shield
www.ahs.com
800.735.4663
Landmark Home Warranty
www.landmarkhw.com
866.306.2999
Old Republic Home Protection
www.orhp.com
800.445.6999
11. 11
Mortgage Brokers Recommended by
Past Clients
I am a native Oregonian and started my career in lending February 2,
1980. I learned early on that what clients want and certainly deserve is
straight forward honesty about the products that fit their needs and the
process they are entering into. Beyond that I am committed to ensure that
everyone I deal with has price clarity about the cost of doing business with me and I gladly
take the time to help borrowers compare offering from other lenders. While this may sound
simple, our rapidly changing business demands full attention and you can depend on my full
time commitment to overseeing all the details of your next real estate transaction.
Shane Musselwhite
Loan Officer - NMLS 249862
Office: 503.908.7116
Mobile: 503.705.8111
shanem@guildmortgage.net
www.guildmortgage.net/officers/
shanemusselwhite
It’s all about service at Academy Mortgage, and our company has been meeting the
needs of homebuyers across the United States since 1988. I joined Academy because
of its strong reputation for integrity—based mortgage lending, its unwavering
commitment to responsible lending practices, and for its broad portfolio of mortgage
solutions and tools. Since joining Academy, I have helped many individuals and families attain
the dream of homeownership. Whether you want to buy a new home or refinance an existing
mortgage, I will provide a customized solution for you at competitive rates. No brokering, no
middleman, no hassle, no surprises.
Cody Gibson
Loan Officer
NMLS 1569550
Branch: 503.536.9408
cody.gibson@academymortgage.com
https://academymortgage.com/lo/codygibson
Kim Pentrack
Senior Mortgage Banker
Direct: 503.706.9077
Office: 503.617.3467
Kim.A.Pentrack@wellsfargo.com
www.wfhm.com/loans/kimberly-pentrack
I’m a native Oregonian and graduated from the University of Oregon’s
business school. I have been a Branch Manager for Wells Fargo Home
Mortgage since 2001. My team can help clients with a variety of home
financing needs including condo’s, renovation, investment, first time, move up, and second
homes. In addition, we specialize in new construction with long term locks, and Corporate
Relocations. Our goal is to offer you multiple options so you can make a well informed decision
that best meets your short and long term financial goals.
Hiring a great
mortgage professional
means access to a variety
of lenders and finding the
right loan options for your
specific needs.
12. 12
Moving Checklist
4 Weeks to Go
❍❍ Call moving companies for a free
estimate. Cost will vary depending
on distance, weight, and optional
services.
❍❍ Look through your house to determine
items to be discarded or donated to
charity. Have a garage sale!
❍❍ Inform schools of transfer. Make
arrangements for enrollment/
registrationinnewschoolsifnecessary.
❍❍ Most homeowner’s policies do not
provideadequatecoverageformoving.
Check with your agent and consider
purchasing additional coverage from a
moving company.
❍❍ Begin collecting boxes with covers
if you plan to pack your belongings.
You can purchase packing materials
through moving companies or contact
local grocery stores for extra boxes. Be
sure to stock up on packing tape!
❍❍ Begin consuming perishable and
frozen food items to minimize waste.
3 Weeks to Go
❍❍ Begin packing!
❍❍ Notify the post office of your new
address and send change of address
cards to friends, family, subscriptions,
and any billing companies/credit
cards.
❍❍ Make necessary travel arrangements
including interim housing and car
rental. Be sure to record confirmation
numbers.
❍❍ Collect medical records and
prescriptions from physicians. Ask for
recommendations for doctors in your
new area.
❍❍ Place legal medical and insurance
records in a safe and accessible place.
2 Weeks to Go
❍❍ Arrange to disconnect utilities/
services in your current residence
and coordinate installation of
utilities/services in your new
home:
❑❑ Electric/Gas
❑❑ Water/Sewer/Trash
❑❑ Phone
❑❑ Cable
❑❑ Internet
❑❑ Other: __________________
❍❍ Close/transfer bank accounts
and open accounts in your new
city.
❍❍ Take pets to the vet for
immunizations. Ask for advice on
moving animals.
❍❍ Draw a map of your new home
and where the furniture will be
arranged.
❍❍ Return library books and any
borrowed items.
❍❍ Be sure to cancel newspaper
subscriptions and/or special
services you have (i.e.
landscaping/lawn service, snow
plow, etc.)
❍❍ Change your address with the
DMV for your vehicle registration
and your license.
1 Week to Go
❍❍ Prepare car for the trip. Check the
oil, tires, brakes, etc.
❍❍ Drain water from household
hoses.
❍❍ Drain gasoline and oil from any
lawn or power equipment.
❍❍ Remember to pick up items sent
to the cleaners or for repairs.
Final Days
❍❍ Defrostandcleanoutrefrigerator.
❍❍ Pack your luggage and separate
any items you will need in the
first days in your new home.
Label these boxes“Load Last”.
❍❍ Reconfirm travel arrangements.
❍❍ Reserve ample parking space
for the movers and provide clear
paths inside the house.
The Big Day!
❍❍ Be on hand to answer any
questions.
❍❍ Go over your inventory with the
driver.
❍❍ Be sure to point out all FRAGILE
items to the movers.
❍❍ Check, double check and triple
check to see if anything is left
behind!
❍❍ Do not leave the house until the
movers are gone.
13. 13
Services You May Need
Home Inspectors
Home Team Inspection Services » Mike Huppi
5890 SW 191st Ave, Aloha, OR 97007
503-530-8306
www.hometeam.com
Nickelsen Home Inspections, LLC » Kurt Nickelsen
7314 NE 58th Ave, Vancouver, WA 98661
360-907-9648
www.nickelsenhomeinspections.com
Pillar to Post » Scott Saari
1118 Lancaster Dr, #316, Salem, OR 97301
503-856-8775
www.scottsaari.pillartopost.com
Pillar to Post » Chris Livingston
10258 SW Stuart Ct, Portland, OR 97224
503-682-3053
www.portlandwestside.pillartopost.com
Hopkins Home Inspection » Matthew Hopkins
4062 NE 10th Ave, Portland, OR 97212
503-869-5292
www.hopkinsinspections.com
Clear View Home Inspections » Marcel Dehart
www.cvhomeinspections.net
425-628-7501
marcel@cvhomeinspections.net
2120 NW Fargo Loop - Camas, WA - 98607
Sewer Inspectors
Pipe Repair Services » Bill Schroeder
971-570-5452
Speedy Scopes. LLC » Guy Beatty
503-516-3588
guy@speedyscopes.com
Pest Management
Evergreen Pest Management
503-925-9752
www.nobugs4u.com
Home Stagers
Chancellor Designs » Ruth Chancellor
503-807-8167
www.chancellordesigns.com
Imagine Home Staging & Design
6296 SW Arctic Dr, Beaverton, OR 97005
503-643-0282
www.imaginestagers.com
lisa@imaginestagers.com
Electricians
Precision NW Electrical Contractors » Mike McDonald
503-413-9870
www.precisionnw.net
Insurance
Pentrack Allstate Agency » Todd Pentrack
4855 SE TV Highway, Hillsboro, OR. 97123
Country Financial » Aaron Howard
www.countryfinancial.com
503-203-1218
1880 Willamette Falls Dr #240 West Linn OR 97068
aaron.howard@countryfinancial.com
Radon / Oil / Mold / Lead
Alpha Environmental
11080 SW Allen Blvd, Ste 100, Beaverton, OR 97005
503-292-5346
www.alphaenvironmental.com
Handyman Services
Good Neighbor LLC
www.goodneighborllc.com
503-318-2848
info@goodneighborllc.com
8616 NE 100th St Vancouver, WA 98662
All-Ways on the Level
matt@allwaysonthelevel.com
503-819-3739
14.
15. 15
What Our Clients Have to Say
««««« Highly Likely to Recommend
02/16/2018 - ncallero
Sold a Single Family home in 2017 in St.Johns, Portland, OR.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
My wife and I worked with Jenny to sell our first home and then purchase
a new home. We can’t say enough good things about her and her team.
She is extremely knowledgeable, personable, down to business, and
incredibly generous with her time. When house hunting her expertise
flagged issues with properties we otherwise would not have noticed.
Her team went above and beyond preparing our home for photos and
eventual open house creating a buzz and building momentum for
multiple offers above asking. We highly recommend her.
««««« Highly Likely to Recommend
02/12/2018 - megancallero
Bought and sold a Single Family home in 2017 in St.Johns, Portland, OR.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
Jenny is fabulous! Her expertise and guidance were amazing in helping
us both buy and sell. She was very patient with us through the entire
process, and her communication was excellent. Jenny goes above and
beyond for her clients. I highly recommend Jenny and the Turner Team!
««««« Highly Likely to Recommend
02/09/2018 - Ryan Ferris
Bought a home in 2017 in Montavilla, Portland, OR 97215.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
Jenny has now handled three home sales and three purchases for our
family. Every time she has maintained great communication while
getting us the best deal possible. I love how good she is at coordinating
with contractors, moving companies, inspectors, and the other agent.
««««« Highly Likely to Recommend
02/08/2018 - Harriet Sorrell
Bought a Single Family home in 2018 in Mount Scott, Portland, OR.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
Jenny was amazing to work with. Her expertise made the process
comforting. She was quick to answer our questions and we always felt
she was working with us in every situation. As first time home-buyers,
she was incredibly patient and we never felt rushed to purchase. Jenny is
a pro at getting things accomplished quickly and efficiently and always
ready to explain the pros and cons with an honest opinion.
««««« Highly Likely to Recommend
02/07/2018 - lesley hess
Sold a Miscellaneous home in 2018 in Goose Hollow, Portland, OR
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
I worked primarily with Jenny Turner to sell my property. I reside in
another state so it was critical to me to have someone there who could
recommend contractors, etc. and act as my representative. I was also
impressed with the listing 360 tour and floor plan she ordered as part of
the listing. She did an outstanding job and navigated through demands
from an extremely difficult buyer. I would use her again in a heartbeat.
««««« Highly Likely to Recommend
08/20/2017 - khultin77
Sold a home in 2017.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
We had a great experience listing our home with JennyTurner. He market
expertise coupled with a well crafted and executed marketing strategy
made the process seamless and easy for us. All of our questions were
answered quickly and comprehensively. Communication was great.
Great decision we made to use Turner Team!
««««« Highly Likely to Recommend
08/13/2017 - Tabitha Stopsen
Bought a Condo home in 2014 in Pearl District, Portland, OR.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
Jenny knew from our first meeting what it was that I needed and
wanted. She selected homes that were within this category and then
when I wanted to look at homes out of that scope she gladly showed
me those too. When we went back to the original plan she wasn’t upset
or disappointed - she was happy that we found what I had wanted. Her
knowledge of all the areas, condo property ownership situations etc was
exteodonary! I’ve recommended her to anyone looking for an agent
and will continue to do so ans when I’m ready to sell and move again I’ll
contact her again as I know she will help me find and get what I want!
««««« Highly Likely to Recommend
08/11/2017 - Bonnie Crawford
Bought a Single Family home in 2017 in South Beaverton, Beaverton, OR.
Local knowledge: ««««« Process expertise: «««««
Responsiveness: ««««« Negotiation skills: «««««
Jenny Turner and her team were amazing! During our 2 month search we
saw almost 80 homes before we found the perfect one. Jenny helped us
navigate a few challenging issues during escrow and we came out way
ahead. Her industry knowledge and local contacts are incredible!!!
See all of our reviews at www.zillow.com/profile/LovejoyRealEstate/Reviews
17. 17
Oregon Real Estate Agency
Disclosure Pamphlet (1 of 2)
Consumers: This pamphlet describes the legal obligations of real estate licensees in Oregon. Real estate brokers and principal real estate
brokers are required to provide this information to you when they first meet you.
This pamphlet is informational only. Neither the pamphlet nor its delivery to you may be interpreted as evidence of intent to create an
agency relationship between you and a broker or a principal broker.
Real Estate Agency Relationships
An “agency” relationship is a voluntary legal relationship in which a
licensed real estate broker or principal broker (the “agent”) agrees to act
on behalf of a buyer or a seller (the “client”) in a real estate transaction.
Oregon law provides for three types of agency relationships between real
estate agents and their clients:
• Seller’s Agent: Represents the seller only.
• Buyer’s Agent: Represents the buyer only.
• Disclosed Limited Agent: Represents both the buyer and seller,
or multiple buyers who want to purchase the same property.
This can be done only with the written permission of all clients.
The actual agency relationships between the seller, buyer and their agents
in a real estate transaction must be acknowledged at the time an offer to
purchase is made. Please read this pamphlet carefully before entering into
an agency relationship with a real estate agent.
Definition of“Confidential Information”
Generally, licensees must maintain confidential information about their
clients. “Confidential information” is information communicated to a real
estate licensee or the licensee’s agent by the buyer or seller of one to four
residential units regarding the real property transaction, including but
not limited to price, terms, financial qualifications or motivation to buy or
sell.“Confidential information”does not mean information that:
a. The buyer instructs the licensee or the licensee’s agent to
disclose about the buyer to the seller, or the seller instructs the
licensee or the licensee’s agent to disclose about the seller to
the buyer; and
b. The licensee or the licensee’s agent knows or should know
failure to disclose would constitute fraudulent representation.
Duties and Responsibilities of a Seller’s Agent
Under a written listing agreement to sell
property, an agent represents only the seller
unless the seller agrees in writing to allow the
agent to also represent the buyer.
An agent who represents only the seller owes
the following affirmative duties to the seller,
the other parties and the other parties’ agents
involved in a real estate transaction:
1. To deal honestly and in good faith;
2. To present all written offers, notices
and other communications to and
from the parties in a timely manner
without regard to whether the
property is subject to a contract for
sale or the buyer is already a party to a
contract to purchase; and
3. To disclose material facts known by
the agent and not apparent or readily
ascertainable to a party.
A seller’s agent owes the seller the following
affirmative duties:
1. To exercise reasonable care and
diligence;
2. To account in a timely manner for
money and property received from or
on behalf of the seller;
3. To be loyal to the seller by not taking
action that is adverse or detrimental
to the seller’s interest in a transaction;
4. To disclose in a timely manner to the
seller any conflict of interest, existing
or contemplated;
5. To advise the seller to seek expert
advice on matters related to the
transaction that are beyond the
agent’s expertise;
6. To maintain confidential information
from or about the seller except
under subpoena or court order,
even after termination of the agency
relationship; and
7. Unless agreed otherwise in writing, to
make a continuous, good faith effort
to find a buyer for the property, except
that a seller’s agent is not required to
seek additional offers to purchase the
property while the property is subject
to a contract for sale.
None of these affirmative duties of an agent may
be waived, except (7).The affirmative duty listed
in (7) can only be waived by written agreement
between seller and agent.
Under Oregon law, a seller’s agent may show
properties owned by another seller to a
prospective buyer and may list competing
properties for sale without breaching any
affirmative duty to the seller.
Unless agreed to in writing, an agent has no
duty to investigate matters that are outside the
scope of the agent’s expertise, including but
not limited to investigation of the condition
of property, the legal status of the title or the
seller’s past conformance with law.
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18. 18
Oregon Real Estate Agency
Disclosure Pamphlet (2 of 2)
Duties and Responsibilities of a Buyer’s Agent
An agent, other than the seller’s agent, may agree to
act as the buyer’s agent only. The buyer’s agent is not
representing the seller, even if the buyer’s agent is receiving
compensation for services rendered, either in full or in part,
from the seller or through the seller’s agent.
An agent who represents only the buyer owes the following
affirmative duties to the buyer, the other parties and the
other parties’agents involved in a real estate transaction:
1. To deal honestly and in good faith;
2. To present all written offers, notices and other
communications to and from the parties in a
timely manner without regard to whether the
property is subject to a contract for sale or the
buyer is already a party to a contract to purchase;
and
3. To disclose material facts known by the agent and
not apparent or readily ascertainable to a party.
A buyer’s agent owes the buyer the following affirmative
duties:
1. To exercise reasonable care and diligence;
2. To account in a timely manner for money and
property received from or on behalf of the buyer;
3. To be loyal to the buyer by not taking action that
is adverse or detrimental to the buyer’s interest in
a transaction;
4. To disclose in a timely manner to the buyer any
conflict of interest, existing or contemplated;
5. To advise the buyer to seek expert advice on
matters related to the transaction that are
beyond the agent’s expertise;
6. To maintain confidential information from or
about the buyer except under subpoena or
court order, even after termination of the agency
relationship; and
7. Unless agreed otherwise in writing, to make a
continuous, good faith effort to find property
for the buyer, except that a buyer’s agent is not
required to seek additional properties for the
buyer while the buyer is subject to a contract for
purchase.
None of these affirmative duties of an agent may be
waived, except (7).The affirmative duty listed in (7) can only
be waived by written agreement between seller and agent.
Under Oregon law, a buyer’s agent may show properties in
which the buyer is interested to other prospective buyers
without breaching an affirmative duty to the buyer.
Unless agreed to in writing, an agent has no duty to
investigate matters that are outside the scope of the
agent’s expertise, including but not limited to investigation
of the condition of property, the legal status of the title or
the seller’s past conformance with law.
Duties and Responsibilities of an Agent Who Represents More than
One Client in a Transaction
One agent may represent both the seller and the buyer in the same transaction,
or multiple buyers who want to purchase the same property, only under a written
“Disclosed Limited Agency Agreement”signed by the seller and buyer(s).
Disclosed Limited Agents have the following duties to their clients:
1. To the seller, the duties listed above for a seller’s agent;
2. To the buyer, the duties listed above for a buyer’s agent; and
3. To both buyer and seller, except with express written permission of the
respective person, the duty not to disclose to the other person:
a. That the seller will accept a price lower or terms less favorable than
the listing price or terms;
b. That the buyer will pay a price greater or terms more favorable than
the offering price or terms; or
c. Confidential information as defined above.
Unless agreed to in writing, an agent has no duty to investigate matters that are
outside the scope of the agent’s expertise.
When different agents associated with the same principal broker (a real estate
licensee who supervises other agents) establish agency relationships with
different parties to the same transaction, only the principal broker will act as a
Disclosed Limited Agent for both the buyer and seller. The other agents continue
to represent only the party with whom the agents have already established an
agency relationship unless all parties agree otherwise in writing. The principal real
estate broker and the real estate licensees representing either seller or buyer shall
owe the following duties to the seller and buyer:
1. To disclose a conflict of interest in writing to all parties;
2. To take no action that is adverse or detrimental to either party’s interest
in the transaction; and
3. To obey the lawful instructions of both parties.
No matter whom they represent, an agent must disclose information the agent
knows or should know that failure to disclose would constitute fraudulent
misrepresentation.
You
are encouraged
to discuss the above
information with the licensee
delivering this pamphlet to you. If
you intend for that licensee, or any other
Oregon real estate licensee, to represent you
as a Seller’s Agent, Buyer’s Agent, or Disclosed
Limited Agent, you should have a specific
discussion with the agent about the nature and
scope of the agency relationship. Whether
you are a buyer or seller, you cannot make a
licensee your agent without the licensee’s
knowledge and consent, and an agent
cannot make you a client without
your knowledge and
consent.
19. 19
The Law of Real Estate Agency
(Page 1 of 5)
This pamphlet describes your legal rights in dealing with a real estate firm or broker.
Please read it carefully before signing any documents.
The following is only a brief summary of the attached law.
SEC. 1. Definitions. Defines the specific terms used in the law.
SEC. 2. Relationships between Brokers and the Public. Prescribes that a
broker who works with a buyer or tenant represents that buyer
or tenant — unless the broker is the listing agent, a seller’s sub
agent, a dual agent, the seller personally or the parties agree
otherwise. Also prescribes that in a transaction involving two
different brokers licensed to the same real estate firm, the firm’s
designated broker and any managing broker responsible for
the supervision of both brokers, are dual agents and each broker
solely represents his or her client — unless the parties agree in
writing that both brokers are dual agents.
SEC. 3. Duties of a Broker Generally. Prescribes the duties that are owed
by all brokers, regardless of who the broker represents. Requires
disclosure of the broker’s agency relationship in a specific transaction.
SEC. 4. Duties of a Seller’s Agent. Prescribes the additional duties of a
broker representing the seller or landlord only.
SEC. 5. Duties of a Buyer’s Agent. Prescribes the additional duties of a
broker representing the buyer or tenant only.
SEC. 6. Duties of a Dual Agent. Prescribes the additional duties of a broker
representing both parties in the same transaction, and requires the
written consent of both parties to the broker acting as a dual agent.
SEC. 7. Duration of Agency Relationship. Describes when an agency
relationship begins and ends. Provides that the duties of account
ing and confidentiality continue after the termination of an agency
relationship.
SEC. 8. Compensation. Allows real estate firms to share compensation with
cooperating real estate firms. States that payment of compensation
does not necessarily establish an agency relationship. Allows
brokers to receive compensation from more than one party in a
transaction with the parties’consent.
SEC. 9. Vicarious Liability. Eliminates the liability of a party for the conduct
of the party’s agent or subagent, unless the principal participated
in or benefited from the conduct or the agent or subagent is
insolvent. Also limits the liability of a broker for the conduct of a
subagent.
SEC. 10. Imputed Knowledge and Notice. Eliminates the common law rule
that notice to or knowledge of an agent constitutes notice to or
knowledge of the principal.
SEC. 11. Interpretation. This law establishes statutory duties which replace
common law fiduciary duties owed by an agent to a principal.
SEC. 12. Short Sale. Prescribes an additional duty of a firm representing
SECTION 1: DEFINITIONS.
Unless the context clearly requires otherwise, the definitions in this
section apply throughout this chapter.
(1) “Agency relationship”means the agency relationship created under
this chapter or by written agre ment between a real estate firm and a
buyer and/or seller relating to the performance of real estate
brokerage services.
(2) “Agent”means a broker who has entered into an agency relationship
with a buyer or seller.
(3) “Broker”means broker, managing broker, and designated broker,
collectively, as defined in chapter 18.85 RCW, unless the context
requires the terms to be considered separately.
(4) “Business opportunity”means and includes a business, business
opportunity, and goodwill of an existing business, or any one or
combination thereof when the transaction or business includes
an interest in real property.
(5) “Buyer”means an actual or prospective purchaser in a real estate
transaction, or an actual or prospective tenant in a real estate rental or
lease transaction, as applicable.
(6) “Buyer’s agent”means a broker who has entered into an agency
relationship with only the buyer in a real estate transaction, and
includes sub-agents engaged by a buyer’s agent.
(7) “Confidential information”means information from or concerning a
principal of a broker that:
(h) Was acquired by the broker during the course of an agency
relationship with the principal;
(i) The principal reasonably expects to be kept confidential;
(j) The principal has not disclosed or authorized to be disclosed to
third parties;
(k) Would, if disclosed, operate to the detriment of the principal;
and
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The Law of Real Estate Agency
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SECTION 2: RELATIONSHIPS BETWEEN BROKERS & THE PUBLIC.
(1) A broker who performs real estate brokerage services for a buyer is a
buyer’s agent unless the:
(a) Broker’s firm has appointed the broker to represent the seller
pursuant to a written agency agreement between the firm and the
seller, in which case the broker is a seller’s agent;
(b) Broker has entered into a subagency agreement with the seller’s
agent’s firm, in which case the broker is a seller’s agent;
(c) Broker’s firm has appointed the broker to represent the seller
pursuant to a written agency agreement between the firm and the
seller, and the broker’s firm has appointed the broker to represent
the buyer pursuant to a written agency agreement between the
firm and the buyer, in which case the broker is a dual agent;
(d) Broker is the seller or one of the sellers; or
(e) Parties agree otherwise in writing after the broker has complied
with RCW 18.86.030(1)(f).
(2) In a transaction in which different brokers affiliated with the same firm
represent different parties, the firm’s designated broker and any
managing broker responsible for the supervision of both brokers, is a
dual agent, and must obtain the written consent of both parties as
required under RCW 18.86.060. In such case, each of the brokers shall
solely represent the party with whom the broker has an agency
relationship, unless all parties agree in writing that the broker is a
dual agent.
(3) A broker may work with a party in separate transactions pursuant to
different relationships, including, but not limited to, representing a party
in one transaction and at the same time not representing that party in a
different transaction involving that party, if the broker complies with this
chapter in establishing the relationships for each transaction.
SECTION 3: DUTIES OF A BROKER GENERALLY.
(1) Regardless of whether a broker is an agent, the broker owes to all
parties to whom the broker renders real estate brokerage services
the following duties, which may not be waived:
(a) To exercise reasonable skill and care;
(b) To deal honestly and in good faith;
(c) To present all written offers, written notices and other written
communications to and from either party in a timely manner,
regardless of whether the property is subject to an existing
contract for sale or the buyer is already a party to an existing
contract to purchase;
(d) To disclose all existing material facts known by the broker and
not apparent or readily ascertainable to a party; provided that
this subsection shall not be construed to imply any duty to
investigatemattersthatthebrokerhasnotagreedtoinvestigate;
(e) To account in a timely manner for all money and property
received from or on behalf of either party;
(f ) To provide a pamphlet on the law of real estate agency in the
form prescribed in RCW 18.86.120 to all parties to whom the
broker renders real estate brokerage services, before the party
signs an agency agreement with the broker, signs an offer in
Continued on Next Page
(l) The principal personally would not be obligated to disclose to
the other party.
(8) “Dual agent”means a broker who has entered into an agency
relationship with both the buyer and seller in the same transaction.
(9) “Material fact”means information that substantially adversely affect
the value of the property or a party’s ability to perform its
obligations in a real estate transaction, or operates to materially
impair or defeat the purpose of the transaction. The fact or suspicion
that the property, or any neighboring property, is or was the site
of a murder, suicide or other death, rape or other sex crime, assault
or other violent crime, robbery or burglary, illegal drug activity,
gangrelated activity, political or religious activity, or other act,
occurrence, or use not adversely affecting the physical condition of
or title to the property is not a material fact.
(10) “Owner-occupied real property”means real property consisting
solely of a single-family residence, a residential condominium unit,
or a residential cooperative unit that is the principal residence of the
borrower.
(11)“Principal”means a buyer or a seller who has entered into an agency
relationship with a broker.
(12)“Real estate brokerage services”means the rendering of services for
which a real estate license is required under chapter 18.85 RCW .
(13)“Real estate firm”or“firm”have the same meaning as defined in
chapter 18.85 RCW.
(14)“Real estate transaction”or“transaction”means an actual or
prospective transaction involving a purchase, sale, option, or
exchange of any interest in real property or a business opportunity,
or a lease or rental of real property. For purposes of this chapter,
a prospective transaction does not exist until a written offer has been
signed by at least one of the parties.
(15)“Seller”means an actual or prospective seller in a real estate
transaction, or an actual or prospective landlord in a real estate
rental or lease transaction, as applicable. (16)“Seller’s agent”means a
broker who has entered into an agency relationship with only the
seller in a real estate transaction, and includes subagents engaged
by a seller’s agent.
(17)“Subagent”means a broker who is engaged to act on behalf of a
principal by the principal’s agent where the principal has authorized
the broker in writing to appoint subagents.
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The Law of Real Estate Agency
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SECTION 5: DUTIES OF A BUYER’S AGENT.
(1) Unless additional duties are agreed to in writing signed by a buyer’s
agent, the duties of a buyer’s agent are limited to those set forth in
RCW 18.86.030 and the following, which may not be waived except
as expressly set forth in (e) of this subsection:
(a) To be loyal to the buyer by taking no action that is adverse or
detrimental to the buyer’s interest in a transaction;
(b) To timely disclose to the buyer any conflicts of interest;
(c) To advise the buyer to seek expert advice on matters relating to
the transaction that are beyond the agent’s expertise;
(d) Not to disclose any confidential information from or about
the buyer, except under subpoena or court order, even after
termination of the agency relationship; and
(e) Unless otherwise agreed to in writing after the buyer’s agent has
complied with RCW 18.86.030(1)(f), to make a good faith and
continuous effort to find a property for the buyer; except that a
buyer’s agent is not obligated to:
(I) seek additional properties to purchase while the buyer is a
party to an existing contract to purchase; or
(II) show properties as to which there is no written agreement
to pay compensation to the buyer’s agent.
(2) (a) The showing of property in which a buyer is interested to other
prospective buyers by a buyer’s agent does not in and of itself
breach the duty of loyalty to the buyer or create a conflict of
interest.
(b) The representation of more than one buyer by different brokers
affiliated with the same firm in competing transactions involving
the same property does not in and of itself breach the duty of
loyalty to the buyer or create a conflict of interest.
SECTION 6: DUTIES OF A DUAL AGENT.
(1) Notwithstanding any other provision of this chapter, a licensee may
act as a dual agent only with the written consent of both parties
to the transaction after the dual agent has complied with RCW
18.86.030(1)(f ), which consent must include a statement of the terms
of compensation.
(2) Unless additional duties are agreed to in writing signed by a dual
agent, the duties of a dual agent are limited to those set forth in RCW
Continued on Next Page
a real estate transaction handled by the broker, consents to
dual agency, or waives any rights, under RCW 18.86.020(1)
(e), 18.86.040(1)(e), 18.86.050(1)(e), or 18.86.060(2) (e) or (f ),
whichever occurs earliest; and
(g) To disclose in writing to all parties to whom the broker renders
real estate brokerage services, before the party signs an offer
in a real estate transaction handled by the broker, whether the
broker represents the buyer, the seller, both parties, or neither
party. The disclosure shall be set forth in a separate paragraph
entitled“Agency Disclosure”in the agreement between the
buyer and seller or in a separate writing entitled“Agency
Disclosure.”
(2) Unless otherwise agreed, a broker owes no duty to conduct
an independent inspection of the property or to conduct an
independent investigation of either party’s financial condition, and
owes no duty to independently verify the accuracy or completeness
of any statement made by either party or by any source reasonably
believed by the broker to be reliable.
SECTION 4: DUTIES OF A SELLER’S AGENT.
(1) Unless additional duties are agreed to in writing signed by a seller’s
agent, the duties of a seller’s agent are limited to those set forth in RCW
18.86.030 and the following, which may not be waived except as
expressly set forth in (e) of this subsection:
(a) To be loyal to the seller by taking no action that is adverse or
detrimental to the seller’s interest in a transaction;
(b) To timely disclose to the seller any conflicts of interest;
(c) To advise the seller to seek expert advice on matters relating to
the transaction that are beyond the agent’s expertise;
(d) Not to disclose any confidential information from or about
the seller, except under subpoena or court order, even after
termination of the agency relationship; and
(e) Unless otherwise agreed to in writing after the seller’s agent
has complied with RCW 18.86.030(1)(f), to make a good faith
and continuous effort to find a buyer for the property; except
that a seller’s agent is not obligated to seek additional offers
to purchase the property while the property is subject to an
existing contract for sale.
(2) (a) The showing of properties not owned by the seller to prospective
buyers or the listing of competing properties for sale by a seller’s
agent does not in and of itself breach the duty of loyalty to the
seller or create a conflict of interest.
(b) The representation of more than one seller by different brokers
affiliated with the same firm in competing transactions involving
the same buyer does not in and of itself breach the duty of
loyalty to the sellers or create a conflict of interest.
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The Law of Real Estate Agency
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SECTION 7: DURATION OF AGENCY RELATIONSHIP .
(1) The agency relationships set forth in this chapter commence at the
time that the broker undertakes to provide real estate brokerage
services to a principal and continue until the earliest of the following:
(a) Completion of performance by the broker;
(b) Expiration of the term agreed upon by the parties;
(c) Termination of the relationship by mutual agreement of the
parties; or
(d) Termination of the relationship by notice from either party
to the other. However, such a termination does not affect the
contractual rights of either party.
(2) Except as otherwise agreed to in writing, a broker owes no further
duty after termination of the agency relationship, other than the
duties of:
(a) Accounting for all moneys and property received during the
relationship; and
(b) Not disclosing confidential information.
SECTION 8: COMPENSATION.
(1) In any real estate transaction, a firm’s compensation may be paid by
the seller, the buyer, a third party, or by sharing the compensation
between firms.
(2) An agreement to pay or payment of compensation does not
establish an agency relationship between the party who paid the
compensation and the broker.
(3) A seller may agree that a seller’s agent’s firm may share with another
firm the compensation paid by the seller.
(4) A buyer may agree that a buyer’s agent’s firm may share with another
firm the compensation paid by the buyer.
(5) A firm may be compensated by more than one party for real estate
brokerage services in a real estate transaction, if those parties consent
in writing at or before the time of signing an offer in the transaction.
(6) A firm may receive compensation based on the purchase price
without breaching any duty to the buyer or seller.
(7) Nothing contained in this chapter negates the requirement that an
agreement authorizing or employing a broker to sell or purchase real
estate for compensation or a commission be in writing and signed by
the seller or buyer.
Continued on Next Page
18.86.030 and the following, which may not be waived except as
expressly set forth in (e) and (f ) of this subsection:
(a) To take no action that is adverse or detrimental to either party’s
interest in a transaction;
(b) To timely disclose to both parties any conflicts of interest;
(c) To advise both parties to seek expert advice on matters relating
to the transaction that are beyond the dual agent’s expertise;
(d) Not to disclose any confidential information from or about
either party, except under subpoena or court order, even after
termination of the agency relationship;
(e) Unless otherwise agreed to in writing after the dual agent has
complied with RCW 18.86.030(1) (f ), to make a good faith and
continuous effort to find a buyer for the property; except that a
dual agent is not obligated to seek additional offers to pur
chase the property while the property is subject to an existing
contract for sale; and
(f ) Unless otherwise agreed to in writing after the dual agent has
complied with RCW 18.86.030(1) (f ), to make a good faith and
continuous effort to find a property for the buyer; except that a
dual agent is not obligated to:
(I) seek additional properties to purchase while the
buyer is a party to an existing contract to purchase; or
(II) show properties as to which there is no written
agreement to pay compensation to the dual agent.
(3) (a) The showing of properties not owned by the seller to
prospective buyers or the listing of competing properties for
sale by a dual agent does not in and of itself constitute action
that is adverse or detrimental to the seller or create a conflict of
interest.
(b) The representation of more than one seller by different brokers
licensed to the same firm in competing transactions involving
the same buyer does not in and of itself constitute action that
is adverse or detrimental to the sellers or create a conflict of
interest.
(4) (a) The showing of property in which a buyer is interested to other
prospective buyers or the presentation of additional offers to
purchase property while the property is subject to a
transaction by a dual agent does not in and of itself constitute
action that is adverse or detrimental to the buyer or create a
conflict of interest.
(b) The representation of more than one buyer by different brokers
licensed to the same firm in competing transactions involving
the same property does not in and of itself constitute action
that is adverse or detrimental to the buyer or create a conflict
of interest.
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The Law of Real Estate Agency
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SECTION 11: INTERPRETATION.
The duties under this chapter are statutory duties and not fiduciary duties.
This chapter supersedes the fiduciary duties of an agent to a principal
under the common law. The common law continues to apply to the
parties in all other respects. This chapter does not affect the duties of a
broker while engaging in the authorized or unauthorized practice of law
as determined by the courts of this state. This chapter shall be construed
broadly.
SECTION 12: SHORT SALE.
When the seller of owner-occupied residential real property enters into
a listing agreement with a real estate firm where the proceeds from the
sale may be insufficient to cover the costs at closing, it is the responsibility
of the real estate firm to disclose to the seller in writing that the decision
by any beneficiary or mortgagee, or its assignees, to release its interest
in the real property, for less than the amount the borrower owes, does
not automatically relieve the seller of the obligation to pay any debt or
costs remaining at closing, including fees such as the real estate firm’s
commission.
SECTION 9: VICARIOUS LIABILITY.
(1) A principal is not liable for an act, error, or omission by an agent or
subagent of the principal arising out of an agency relationship:
(a) Unless the principal participated in or authorized the act, error,
or omission; or
(b) Except to the extent that:
(I) the principal benefited from the act, error, or omission; and
(II) the court determines that it is highly probable that the
claimant would be unable to enforce a judgment against
the agent or subagent.
(2) A broker is not liable for an act, error, or omission of a subagent
under this chapter, unless that broker participated in or authorized
the act, error, or omission. This subsection does not limit the liability
of a firm for an act, error, or omission by a broker licensed to the
firm.
SECTION 10: IMPUTED KNOWLEDGE AND NOTICE.
(1) Unless otherwise agreed to in writing, a principal does not have
knowledge or notice of any facts known by an agent or subagent of
the principal that are not actually known by the principal.
(2) Unless otherwise agreed to in writing, a broker does not have
knowledge or notice of any facts known by a subagent that are not
actually known by the broker. This subsection does not limit the
knowledge imputed to the designated broker or any managing
broker responsible for the supervision of the broker of any facts
known by the broker.