Press Releases

MAR Praises Inclusion of Agency Initiative in State Budget

June 25, 2007

Waltham, MA. - The Massachusetts Association of Realtors® (MAR) today praised legislative leaders and Governor Romney for acting to clarify the relationships between consumers and real estate professionals when conducting a real estate transaction. Language providing guidelines and calling for creation of applicable regulations has been included as part of the state's final budget.

"We are thrilled that this issue has been addressed in a meaningful way" said MAR President Judy Moore. "We're very pleased that our state legislators and Governor Romney have chosen to join the majority of states that already provide clear guidelines to consumers."

The language in the final budget outlines permissible relationships and directs the Board of Registration of Real Estate Brokers and Salespersons to define those relationships. Further, the Board will identify disclosures real estate practitioners must make in their relationships with buyers and sellers when conducting a real estate transaction. In particular, the language creates clear guidelines for the practice of facilitation, sub-agency, and designated agency.

MAR, a real estate industry trade association with 19,000 members, spent the past three years studying the problems with current law and developing a solution to the challenges that consumers and licensees currently face. The final language included in the budget is consistent with the policy recommendations that MAR supports.

"The passage of this measure gives consumers and real estate professionals what they want and deserve -- clear representation options when purchasing a home or property," Moore remarked. "We are confident that over the next 12 months the Board of Registration will implement regulations that will make the promise of this new measure a reality in Massachusetts."