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Sneaky Realtor - ABA

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Anonymous
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Sneaky Realtor - ABA

So Im buying a home and closing soon. My realtor tried to get me to sign an

Affiliated Business Arrangement for a different settlement services company from my contract. Is this legal?

 

Message 1 of 5
4 REPLIES 4
StartingOver10
Moderator Emerita

Re: Sneaky Realtor - ABA disclosure


@Anonymous wrote:

So Im buying a home and closing soon. My realtor tried to get me to sign an

Affiliated Business Arrangement for a different settlement services company from my contract. Is this legal?

 


Is one of the Realtor agencies related to one of the companies in the ABA agreement?  For example, lets say you are the buyer and you are closing with ABC title company and the listing agency has an affliation with XYZ title company.  The listing agency is required to disclose to all parties their affliation - even if you aren't closing with the company nor using any of the affliated companies. Are you being charged differently or having to use one of those services?  

Message 2 of 5
Anonymous
Not applicable

Re: Sneaky Realtor - ABA disclosure

 

 

 

Is one of the Realtor agencies related to one of the companies in the ABA agreement?  For example, lets say you are the buyer and you are closing with ABC title company and the listing agency has an affliation with XYZ title company.  The listing agency is required to disclose to all parties their affliation - even if you aren't closing with the company nor using any of the affliated companies. Are you being charged differently or having to use one of those services?  




According to the paperwork the realtor's angency it is affiliated with this specific tittle company and the paper shows all the fees they charge. The document does not say I decline to use this services, so I didn't sign it and I called my realtor clarify about it. He then he got mad over the phone saying to do not worry about it and delete it, that he would be taking care of it.  

 

 

 

Message 3 of 5
StartingOver10
Moderator Emerita

Re: Sneaky Realtor - ABA disclosure

That's different. He should have disclosed right up front since you are his client and using one or more of the affliated companies. As a buyer you have the right to choose which title company you will use for closing if you are paying for the owners title fees at closing. In our P&S contracts it is one of the choices: buyer chooses and pays or seller chooses and pays.  Check your P&S contract. 

 

PS - I think he should have disclosed right up front anyway at the first meeting with you

Message 4 of 5
Anonymous
Not applicable

Re: Sneaky Realtor - ABA

That the realtor got upset about your questioning tells you quite a bit about how legitimate this portion of the dealings are.

Plus what S10 says.
Message 5 of 5
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