REAL ESTATE FACILITATION SERVICES
The facilitator is becoming more and more common in today's fast paced real estate market and though controversial to some in the industry it is getting people's attention as an alternative way to do a real estate transaction. However, first it is important to differentiate between different types of "Agency," relationships between real estate licensees and their clients.
A.
Seller Agency- Real estate broker represents the seller only on a real estate transaction.
B. Sub-Agency- When a seller or buyer client expressly or implicitly authorizes his or her broker to use
other brokers.
C. Buyer Agency- Real estate broker represents buyer client in real estate transaction.
D. Dual Agency- Real estate broker who represents both the seller and buyer in the same transaction and requires written consent of both parties to the broker acting as a dual agent.
The Washington state "Law of Real Estate," pamphlet provides detalied information the "Agency," relationships duties between real estate licensees and their clients and your legal rights in dealing with a real estate firm or broker. This document is on our website at
https://www.mountainvalleyre.com
The use of a facilitator in a real estate transaction is generally used when the homeowner/owner already has a buyer lined up for their property, so they don't need a listing broker but only someone to handle all the details of the transaction which primarily includes the following;
1) Assist seller in knowing which disclosures are needed and complete.
2) Assist in the preparation of the Purchase & Sale Agreement.
3) Assist the parties in completing the transaction documents.
4) Provide seller with information about other service providers related to real estate transactions (e.g., title & escrow services, inspection services.)
5) Provide additional agreed upon services.
The use of NWMLS form 47- Seller Representation Agreement (No Marketing- Sale to identified Buyer.) This form is used in which the real estate firm agrees to represent the seller in the sale of the property to buyer who the seller has identified as the likely purchaser of the property in question.
The use of.NWMLS Form 41A- Buyer Agency Agreement is used when the real estate firm appoints a selling broker from the firm to represent the buyer. This Agreement creates an agency relationship with selling broker and any of firm's brokers who supervise on behalf of selling broker's performance as the buyer's broker.
Having a facilitator may be less costly for sellers than having representation. However, they need to know that the real estate broker acting as a facilitator has no fiduciary duty and represents neither party in this transaction. Another option to consider would be if the seller wants representation, they could ask for an exclusion clause in the listing agreement of people to whom they've already shown the property that may be interested in purchasing it. In all cases, the real estate commission is always negotiable by the real estate broker depending on what services are needed.
As even the simplest of real estate transactions become more and more complicated with the number of laws around disclosures and financing hurdles. It becomes more and more prevalent to seek advice from a real estate professional. Their expertise and knowledge will guide you through the process with skill and efficiency to a positive outcome in achieving your ultimate goal!
Article written by Lisa Davis
