Does IABS notice need to be given to seller if I'm buying?

2 Replies

Right now I'm in the process of getting my agent license, and I'm currently getting beat to death about disclosure. I can clearly see how it's a slippery slope, and some investors advise against getting your license for that reason alone. However, there are very successful investors who act as agents as well so I know it's possible when done correctly. 

My question is if I approach a potential seller, with my investor cap on, (giving full disclosure of this obviously) would I need to provide the IABS notice to them? To my understanding, the IABS notice gives notice of what the broker is required to do for their client. I'm not approaching them as an agent though but instead an investor/buyer. Is the IABS just to CYA in this instance? If I am off or my logic is flawed, please enlighten me. TIA for insight!

It looks a lot like the form is just for prospective clients. In WA state I would simply be required to disclose that I'm a real estate broker, as you have done, not present them with the Law of Agency, which is the equivalent of your TREC form and addresses representation in a real estate transaction. However, it's a TREC form and for an absolute answer I would contact them, they will give you the 100% sure answer.

@Effram Barrett definitely disclose to the seller your a licensed agent once you obtain your license. Paragraph 4 of the TREC 1to4 (Resale) is where you will disclose on the contract to the seller that you are a license holder. The IABS you should always have your clients execute when you are representing them as either a buyer or sellers agent. 

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