Question

Broker Betty at an open house meets a young couple looking to purchase their first home. The couple asked if the Broker thought they had enough income to qualify for a loan to purchase the property. Realizing this information is of a confidential nature Broker Betty makes the agency disclosure that her office policy and State statute require. The buyers are very skeptical about making a commitment and have been coached by family members not to sign anything. They refuse to sign the signature block on the Brokerage Disclosure to Buyer form. Betty should:

Answer 1

Answer:

Betty should note the time and date and mention that the buyer has not signed the form and can then proceed to make the disclosure.

Explanation:

In this case, the Broker are in a position where they are needed to make the agency disclosure. But, it must be understood that the buyer does not have to sign any disclosure form. Hence, they can have the discussion as long as Betty, the broker, has signed the disclosure.