Licensee Disclosure of Personal Interest – Adding to Loop
Licensee Disclosure of Personal Interest – Adding to Loop
REALTORS® must disclose their true position to prospective buyers when listing a property that they have any ownership interest in. In presenting offers for themselves, an immediate family member or any entity in which they have ownership, REALTORS® must also comply with this requirement.
This disclosure must be given in writing before a contract is signed. In addition, assuming the REALTOR® is acting in his or her licensed capacity, the broker or agent may want to provide a No Brokerage Relationship Agency Disclosure to the other party. (REALTORS® Code of Ethics, Article 4, Standard of Practice 4-1).
Adding the Licensee Disclosure of Personal Interest Addendum:
1. Go to your Listing Docs (if list agent) or Initial Docs folder (for purchase)
2. Click “ADD DOCUMENT” - to the right of the folder name
3. Click “TEMPLATES”
4. Scroll to “COMMON ADDENDA” on the left side & on the right side scroll to “Addendum: Licensee Disclosure of Personal Interest” – place a check in the box. Shortcut: type “lic” in the search box (magnifying glass) for quicker results.
5. Click “COPY”
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