Real Estate Licensees Disclosure When Offering To Buy

[George Gray]

Let me start out by saying that I am not trying to start a debate about the pros and cons of having a real estate license or whether the discussed license disclosure requirement is right or wrong. Also turning in our license is not an option either. That said, I am seeking information from other licensed brokers and agents on what you are doing to disclose that you have a real estate license when soliciting to buy investment property with direct mail, squeeze pages, social media, etc.

It is license renewal time in our State and continuing education classes are required. Broker disclosure as a principal in a transaction has come up several times in our risk management classes. The general consensus has been that a real estate licensee should disclose that they have a license to the opposite party in the transaction to meet state license law. Earlier is preferred to later in the transaction. However, it seems now that the NAR and some State Board's are expanding the requirement to include that disclosure also be made in any advertising, direct mail, squeeze pages, social media, etc.. even though the efforts are directed at buying, not listing property.

I have never had an issue with disclosing that I am a broker. It has been a non-issue in 100% of the transactions in which I have purchased property. It is on my business card and I have a disclaimer in my offer to purchase that states that I and my company are both "real estate licensees". The reason I am making the post is that we are considering using some direct mail and the internet to generate leads to buy property. Again, I don't have a problem disclosing the fact that we are licensed, but I want to keep it concise and simple, but still be in compliance I hope some of the other licensee/investors on BP will share what you are doing in the area of license disclosure when offering to purchase investment property especially on direct mail, the internet, and social media.