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Minimum Service Law - Idaho Real Estate Commission Denies Request for Information
Posted by Heinrich Wiebe in Fizbomap, For Sale by Owner, News, Consumer Rights on February 13th, 2007
Our request for Information to the Idaho Real Estate Commission included:
DESCRIPTION OF REQUEST
All notes, drafts and records pertaining to Legislative genda Items in development and review by the Idaho Real Estate Commission pertaining to Brokerage Service Legislation. This Brokerage Service Legislation is concerning the Idaho Association of Realtors (IAR) organization and its members and the general public. This Brokerage Service Legislation is also known as “Minimum Service Law”.
Here’s my letter back from IREC.
What our request actually produced are the Meeting Minutes of the Commission, which are available online. These minutes point out little detail other than the Department of Justice paid a visit and had a view of the draft legislation LAST YEAR JAN, 2006. In otherwords, they’ve been kicking this issue around for some time.
Here’s a few images from IREC’s meeting notes LAST YEAR JAN, 06:
After DOJ’s reviewed the draft legislation (I wonder how they got their copy?), they came to town and pointed out that it prevented consumers from maximum choice in brokerage services. DOJ went on to point out that if the real concern is the issue of “agency”, then the issue should be resolved by seeking an agency bill, instead of a minimum service bill. I would like to point out that there is no other licensed profession that is managed by a minimum service statute.
As for the concern of broker and agent duties to consumers, I believe that the legislature made some changes around 2002 that removed statue language that included words like “Professional” and “Fiduciary Duty”. In other words, real estate agent and brokers aren’t considered professionals nor do they have a fiduciary duty to customers or clients they serve.
Could it be that real estate agents want all the money for representing consumers in real estate transactions, but without the liability? Does it seem reasonable that the Idaho Legislature should come back and make a few tweaks to the the statue just so business as ussual is preserved, thus defending off the varied unbundled real estate service models that save consumers money?
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