Out with the Old, In with the New
No one likes a complicated form, and real estate is no exception. Therefore, if you are a real estate agent working in Massachusetts, then you need to be aware of changes that will affect you in this new MA real estate agency disclosure form.
The Board of Registration for Real Estate Brokers and Salespersons has issued a new form called the Massachusetts Real Estate Licensee – Consumer Relationship Disclosure. It aims to provide the necessary disclosures to home buyers, but with the added benefit of clarifying some parts and simplifying others that may have caused problems in the previous iteration of the form. A group of professionals, including lawyers and real estate professionals, got together to decide how to make the form easier to use and understand.
So What Exactly Has Changed?
Specifically, some of the wording and the layout has changed. For example, this disclosure is not a contract, but to make that more evident, that wording has been bolded.
When Should I Start Using the MA Real Estate Agency Disclosure Form?
Right away! For any new transactions, start using the new form. If you were using the old form for a transaction when the new form came into effect, then you can simply continue using the old form, assuming that you have met all of the necessary disclosures for the transaction. For all subsequent transactions, simply use the new form.
Where Can I Get a Copy of the New Form?
You can access the new MA real estate agency disclosure form from the Board of Registration’s website under the section entitled Application and Forms. You can also get online versions for major platforms as well as a paper version, depending on your preference.
What Else Do I Need to Know?
You need to keep a copy of this new form for at least three years.
If you have any questions, make sure you ask the Board of Registration for Real Estate Brokers and Salespersons. They can clarify any aspect and provide the details you need so that you can use and complete the form quickly, and explain the form to your clients easily.
Shamrock Financial and Real Estate Agents
As an integral part of real estate transactions, Shamrock Financial understands the importance of ensuring that all protocols are followed. Therefore, for every home purchase, we will continue to ensure that the most current documents are used so that clients, real estate agents, and our staff can create a smooth and seamless home purchase each and every time.